The size of the age-related macular degeneration market was $10,234 million in 2021, and it will reach $18,500 million by 2030, at a growth rate of 6.8% in the years to come.
The development of the industry can be mainly credited to the snowballing cases of age-related eye ailments, the increasing elderly population, and the growing investments in research and development activities.
Eylea Sales Generate Most Revenue
· Because of its protected patent and extensive market penetration, Eylea was the most-popular drug, with a revenue share of over 50%, in the past.
· The requirement for Beovu will increase at the highest rate in the years to come, because of its higher drying efficiency, protection of its patent, and its accomplishment in treating severe cases of wet AMD.
Wet AMD Holds Major Revenue Share
The wet AMD category had the major revenue share in the past. This condition is managed with intravitreal injections, with over 22 million of these administered globally every year.
Additionally, over 75% of the anti-VEGF injections are administered for wet AMD treatment. Furthermore, the availability of branded medications, high incidence of this condition, surge in the treatment count, and evolution in consciousness of this disease help in the growth of the industry.
The dry AMD category will record the higher growth rate in the years to come. This will be due to the projected introduction of numerous therapeutic candidates from 2023 onward and the increasing burden of this ailment, which accounts for over 85% of the AMD cases.
Growing Elderly Population Responsible for Increasing Eye Disease
Cases
For older people, the loss of vision is a major issue, because it becomes worse with time. Both the dry and wet forms of macular degeneration can be fatal and need medical attention. Thus, the industry is expanding as a result of the increasing count of elderly patients.
Currently, only a few medications are licensed for treating this disease, generally anti-VEGFs. These medications require regular and painful intraocular injections, which leads to inconvenience and discourages people from going for the treatment. Hence, pharma companies are investing to develop long-acting anti-VEGFs and vitreous implants, to make treatment less daunting.
