Exploring Key Insights of the Dry Age Related Macular Degeneration (AMD) Market: Growth Prospects, Emerging Trends, and Opportunities
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How Rapidly is the Dry Age Related Macular Degeneration (AMD) Market Expected to Expand Between 2025 and 2034 Based on Current Trends?
The market size for dry age-related macular degeneration (AMD) has seen robust growth in the recent past. The market, which is expected to be $4.49 billion in 2024, is projected to increase to $4.90 billion in 2025, representing a compound annual growth rate (CAGR) of 9.1%. The substantial growth during the historical period is tied to factors such as an increasing elderly population, a higher incidence of chronic illnesses, a heightened awareness about eye health, an uptick in clinical trials centered on dry AMD, and a rising demand for minimally invasive procedures.
In the coming years, the dry age related macular degeneration (AMD) market is projected to witness considerable growth, culminating in a worth of $6.86 billion in 2029 with a compound annual growth rate of 8.8%. This increase during the forecasting period is due to several factors such as the advent of innovative therapies, increased expenditure in healthcare, higher usage of laser photocoagulation therapy, progressions in genetic study and the rising emphasis on tailor-made medication. The forecast period will also see trends like advancements in diagnostic technology, wider adoption of teleophthalmology, technical advancements in treatment, product approvals and the introduction of new products.
Which Drivers Are Expected to Have the Greatest Impact on the Dry Age Related Macular Degeneration (AMD) Market’s Growth?
The anticipated expansion of the dry age-related macular degeneration (AMD) market is closely tied to the rising number of elderly people in society. Generally, the geriatric population encapsulates those who are 65 years and over. This demographic is expanding as a result of multiple nascent factors such as enhanced medical technology, improved management of long-term illnesses, increased longevity, and advancements in elderly care. The dry AMD market benefits this ageing population by featuring precise treatment plans and management strategies, designed to mitigate the disease’s progression, protect vision and enhance life quality for older adults with this disease. For example, as documented by the National Council on Aging, an American organisation, in 2022, approximately 57.8 million seniors aged 65 and older were living in the US, making up 17.3% of the country’s entire population. This shows an increase from 16.9% in 2021. As a result, the burgeoning geriatric population is poised to fuel the expansion of the dry age-related macular degeneration (AMD) market.
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Which key players are shaping the future of the Dry Age Related Macular Degeneration (AMD) market?
Major companies operating in the dry age related macular degeneration (AMD) market are F Hoffmann-La Roche Ltd., Novartis AG, Bayer AG, Amgen Inc., Biogen Inc., Astellas Pharma Inc., Bausch Health Companies Inc., Lupin Ltd., Santen Pharmaceuticals Inc., Biocon Ltd., Alimera Sciences Inc., Apellis Pharmaceuticals Inc., Belite Bio Inc., Axol Bioscience Ltd., Alkeus Pharmaceuticals Inc., Kubota Holdings Co., Ribomic Inc., Eyestem Research Pvt. Ltd., LumiThera Inc., Adverum Biotechnologies Inc.
How Are the Latest Trends Influencing the Growth of the Dry Age Related Macular Degeneration (AMD) Market?
Leading companies in the dry age-related macular degeneration (AMD) market are focusing on the creation of innovative technology and treatments such as light delivery systems, to target and stimulate retinal cells, potentially reducing the progression of the disease. Light delivery systems are technologies engineered to convey light for therapeutic uses, especially in medical treatments. For example, in January 2024, LumiThera Inc., a medical device company based in the US, introduced photobiomodulation (PBM) for dry age-related macular degeneration (AMD) using the Valeda Light Delivery System. This marks the first therapy authorized by the FDA to treat vision loss in patients with dry AMD, a condition that presently has restricted treatment choices. LumiThera initiated the EUROLIGHT registry study to compile long-term patient outcome data following treatment with the Valeda system. The Valeda system leverages a multi-wavelength light delivery method using three specific wavelengths (590 nm, 660 nm, and 850 nm). This non-intrusive treatment can be delivered through an open or closed eyelid and generally necessitates nine sessions over a span of three to four weeks.
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What Are the Major Segments of the Dry Age Related Macular Degeneration (AMD) Market and Their Role in Driving Growth?
The dry age related macular degeneration (AMD) market covered in this report is segmented –
1) By Stages: Early Age-Related Macular Degeneration, Intermediate Age-Related Macular Degeneration, Late Age-Related Macular Degeneration
2) By Age Group: Above 75 Years, Above 60 Years, Above 40 Years
3) By Route Of Administration: Oral, Injectables
4) By End Users: Hospitals And Clinics, Diagnostic Centers, Academic And Research Institutes
Subsegments:
1) By Early Age-Related Macular Degeneration: Drusen Accumulation, Retinal Pigment Epithelium Changes
2) By Intermediate Age-Related Macular Degeneration: Larger Drusen Deposits, Increased Pigmentary Abnormalities
3) By Late Age-Related Macular Degeneration: Geographic Atrophy, Central Vision Loss
What Regions Are At the Forefront of Dry Age Related Macular Degeneration (AMD) Market Expansion?
North America was the largest region in the dry age-related macular degeneration (AMD) market in 2024. The regions covered in the dry age related macular degeneration (AMD) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Can We Define the Dry Age Related Macular Degeneration (AMD) Market and Its Key Components?
Dry age related macular degeneration (AMD) refers to a progressive eye condition characterized by the gradual deterioration of the macula, the central part of the retina, leading to blurred central vision. They are used for managing and slowing the progression of the disease through treatments like vitamins, nutritional supplements, and emerging pharmaceutical therapies.
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