Wet Age-Related Macular Degeneration Market Projected to Have a Stable Growth for the Next Few Years

The growing prevalence of age-related macular degeneration (AMD), lack of specific treatment availability, and increase in geriatric population are driving the growth of the wet age-related macular degeneration market. The market is projected to generate revenue worth $10.4 billion in 2024, witnessing a CAGR of 7.1% during the forecast period (2019–2024).  AMD is a disease in which blurred vision or blindness occurs due to damage to the retina macula. Wet AMD is a type of AMD characterized by the growth of abnormal blood vessels under the retina and macula.

Based on the age group, the wet age-related macular degeneration market is categorized into drugs that are given to people aged 40–59 years, 60–80 years, and above 80 years. Out of these, in 2018, wet AMD drugs prescribed to people above 80 years of age contributed nearly 60.0% revenue to the market. Due to growing prevalence of the disease in the geriatric population, the market is expected to witness significant progress in the forecast period.   

Japan, Germany, Italy, and Portugal are among the nations with the largest population of elderly in the world. As older people are more prone to degenerative disorders, the increasing geriatric population in these countries is anticipated to contribute to the rising demand for drugs for wet AMD treatment, thus driving the wet age-related macular degeneration market during the forecast period.

Therefore, the surging geriatric population across the world is pushing the demand for drugs for treating wet AMD, resulting in the growth of the market.

Read More..