Dry Age-Related Macular Degeneration Market Size: Key Market Players and Analysis
Dry Age-Related Macular Degeneration Market Set to Soar to USD 22.64 Billion by 2031, Growing at a CAGR of 8.22%
Dry Age-Related Macular Degeneration Market Outlook, Scope & Overview:
Industry reports indicate that the global dry age-related macular degeneration (AMD) market was valued at USD 12.03 billion in 2023 and is projected to reach USD 22.64 billion by 2031, growing at a CAGR of 8.22% over the forecast period 2024-2031.
Technological Advancements to Drive Growth of Global Dry Age-Related Macular Degeneration Market
The adoption of advanced treatment methods and innovative therapies will continue to influence global market revenues. Healthcare professionals are increasingly turning to novel treatment options for dry AMD due to their potential to slow disease progression and improve patient outcomes.
As a treatment segment, anti-VEGF (vascular endothelial growth factor) therapies currently hold a significant share of the global dry AMD market. This segment is anticipated to grow at a year-over-year rate of 8.22% in 2024 over 2023 and reach USD 15 billion in revenues by 2031. A substantial increase in the demand for anti-VEGF therapies is expected, driven by factors such as increasing prevalence of AMD, advancements in treatment methods, and rising awareness about early diagnosis and intervention.
Dry Age-Related Macular Degeneration Treatments – Market Dynamics
Drivers:
The global dry AMD market is witnessing significant growth due to advancements in treatment methods and an increasing aging population. The use of innovative therapies, such as anti-VEGF treatments, has enhanced the management of dry AMD, driving demand for these treatments worldwide. Additionally, increased awareness about AMD and its impact on vision and quality of life is leading to higher acceptance and adoption of early diagnosis and treatment options.
Restraints:
Despite the growth potential, challenges such as high treatment costs and limited access to advanced therapies in certain regions are hindering the widespread adoption of dry AMD treatments. Moreover, the complexity of the disease and the need for continuous monitoring and treatment can be burdensome for patients and healthcare systems, impacting the growth of the market.
Dry Age-Related Macular Degeneration Treatments – Market Outlook
The effective outcomes observed from advanced dry AMD treatments in slowing disease progression and preserving vision have contributed to the market's growth. Anti-VEGF therapies and other innovative treatments are projected to witness a steady increase in demand, particularly in developed regions where awareness and accessibility to advanced treatments are higher.
Global Dry Age-Related Macular Degeneration Market
The rise in demand for dry AMD treatments in North America, Europe, and Asia Pacific regions is expected to drive market growth over the forecast period. North America currently holds a significant market share in the global dry AMD market, with the US being a key contributor to market revenues. Europe and Asia Pacific regions are also experiencing a surge in demand for dry AMD treatments, fueled by increasing awareness, advancements in therapeutic techniques, and a growing aging population.
Key Players in the Dry Age-Related Macular Degeneration Market
Leading companies in the dry AMD market include Regeneron Pharmaceuticals, Novartis AG, Roche Holding AG, and Bayer AG. These companies offer a range of treatments, including anti-VEGF therapies, that are tailored to meet the needs of patients with dry AMD.
In conclusion, the global dry age-related macular degeneration market is poised for significant growth over the forecast period, driven by technological advancements, increasing awareness, and the growing need for effective treatments for dry AMD.
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