The widening prevalence of age-related macular degeneration (AMD) and the consequent morbidity of common risk factors causing severe loss of vision in worldwide population is a key factor bolstering the demand for treatment options and technologies. AMD being a key cause of blindness in elderly populations, especially in developed regions, is providing a robust impetus to the demand for treatments. A recent report by TMR titled “Age-related Macular Degeneration (AMD) Treatment Technology Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025”, takes an incisive look at the various factors shaping the market dynamics and impact the growth of the age-related macular degeneration technology treatment market.
Rising research on pharmacological treatments for AMD is a notable factor boosting the market. The intensifying interest among clinicians and researchers to develop potential treatment options for wet (neovascular or exudative) AMD is a noteworthy trend expected to accentuate the growth of the market over the forecast period (2017–2025).
Growing number of cost-utility analysis of various substances used in the treatment of AMD is paving for attractive revenue generation in the AMD treatment technology market. The rising number of clinical trials for developing therapies in AMD is a key factor is catalyzing the growth. The advent of novel technologies and recent advances made in the various modes of the administration are striking trends paving the way for the better management of AMD.
In recent years, marked efforts by researchers in developing and developed regions to expand the therapeutic options for neovascular AMD have provided a shot in the arm for the growth of the market.
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Regionally, North America accounted for a sizeable share in the global age-related macular degeneration treatment technology. The rise in number of regional associations and institutions in the region is helping the market to expand rapidly. The growing number of patient-assistance programs for AMD treatments offered by some pharmaceutical companies is a notable trend accentuating the regional market, as these help in bringing down on the financial burden on patients and their caregivers.
Meanwhile, the Middle East and Africa (MEA) and Asia Pacific are poised to present lucrative prospects for market players. The rising incidence of wet AMD and the rapidly rising aging population in key economies of the region will fuel the growth of the Asia Pacific market for the age-related macular degeneration technology treatments. Constant advances in the area of therapeutics and diagnostics for AMD are driving the MEA market.
Some of the key players operating in the AMD treatment technology market are Pfizer Inc., PanOptica Inc., Ophthotech, Opthea Limited, Ohr Pharmaceutical Inc., Neurotech Pharmaceuticals, Lpath, Iconic Therapeutics, Gilead Sciences, Bausch + Lomb, Adverum Biotechnologies, Allergan, Alcon, Regeneron Pharmaceuticals, Novartis International AG, F. Hoffmann-La Roche AG, and Bayer HealthCare.