Age–Related Macular Degeneration Market — Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Aug 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Age-related Macular Degeneration (AMD) is one of the major cause of visual impairment in the aged population, which is an acquired retinal disorder and causes the deterioration of macula. Macula is a part of retina that is responsible for central vision and sharpness of vision. Central vision is necessary for activities such as reading books, driving, recognizing faces, sewing, and some others. The peripheral vision remains unaffected even with the AMD. This disorder might cause the vision loss mainly in the people with age of 60 year or above. In early stage, AMD might not show any symptoms, but the symptoms can be seen while the disease progresses include dark spot or degeneration in central vision and blurred vision. The factors which are responsible for the age-related macular degeneration include obesity, smoking, high cholesterol, UV radiation, high blood pressure, genetic factors, poor diet, and light eye color. Total cure for AMD is not available but the symptoms can be tackled.

Growing prevalence rate of AMD is propelling the growth of age-related macular degeneration market

According to World Health Organization (WHO), age-related macular degeneration has 3rd rank in the global cause of visual impairment with 8.7% blindness prevalence, whereas, Community Eye Health Journal, by London School of Hygiene and Tropical Medicine, in 2014, around 196 million people will suffer from AMD by 2020 globally. Technological advancement in healthcare sector and upgraded diagnostic facility is also propelling the growth of age–related macular degeneration market.

However, restraints that are likely to hamper the growth of age-related macular degeneration market include high cost of the treatment, growing off –label use and stringent regulatory policies. For instance, single injection of anti-vascular endothelial growth factor (anti VEGF) agent for the treatment of AMD such as ranibizumab cost about $2000. The increase in geriatric population and growing awareness of AMD is expected to provide more opportunities in age-related macular degeneration market.

High prevalence rate of dry age-related macular degeneration is accounting for the major share contribution of this segment in the age-related macular degeneration

The global age-related macular degeneration market is segmented by type and by drug.

On the basis of type, the age-related macular degeneration market is segmented into

  • Dry age-related macular degeneration
  • Wet age-related macular degeneration

On the basis of drug, the age-related macular degeneration market is segmented into

  • Eylea
  • Visudyne
  • Lucentis
  • Avastin
  • others

Upsurge of geriatric population is contributing to the growth of age-related macular degeneration market in North America

Regional segmentation of age-related macular degeneration market by Coherent Market Insights comprises of North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. Growing geriatric population and the increase in demand for the treatment of age-related macular degeneration is the major factor contributing to the leading position of North America in the age-related macular degeneration market. For instance, the data published by UN publication in “World Population Ageing 2013”, around 70,571,000 people were of 60 years and above in North America in 2013, that is, 19.9% of total population of the region. Moreover, the factors such as rising prevalence of age-related macular degeneration (AMD), growing awareness of AMD, and high rate of drug treatment are also fuelling the growth of age-related macular degeneration market in North America. Asia Pacific is also expected to witness growth in the age-related macular degeneration market owing to the growing of geriatric population, resulting in the occurrence of AMD.

Fast track designations for drugs in treatment of AMD is helping the new players to sustain in the age-related macular degeneration market

Key industry players operating the age-related macular degeneration market include Novartis AG, Bayer AG, Acucela, Neurotech Pharmaceuticals Inc., Hoffmann-La Roche Limited, Ophthotech Co., GlaxoSmithKline Plc., Alimera sciences Inc., StemCell Inc., and Regeneron Pharmaceutical Inc.. Growing number of pipeline drugs for age-related macular degeneration is helping the industry players to sustain in the age-related macular degeneration market. Additionally, fast track drug designations and special regulator government policies such as tax benefits are some other factors helping the new players to enter in the age-related macular degeneration market. For instance, Fovista a product of Ophthotech received fast track designation by U.S. FDA and is expected to launch in 2018.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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