The market
is experiencing growth due to the rising geriatric population, growing pipeline
for AMD therapeutics, surging chronic disease prevalence, and increasing
healthcare expenditure. Age-related macular degeneration is a retinal disorder,
which is indicated by changes in the fundus of the eye. It commonly affects the
elderly, in which, first, the central vision becomes blurred, which ultimately
leads to blindness.
The
age-related macular degeneration market is classified into Asia-Pacific,
Europe, North America, and Rest of the World, based on region. In 2015, the
highest value share in the market was held by the North American region. This
was attributed to the rising prevalence of conditions, such as obesity and
hypertension. Further, the presence of major pharmaceutical companies supports
the regional market growth. In 2022, with high healthcare expenditure of
countries in the region, it is predicted to hold more than 90.0% of the market
share.
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The
age-related macular degeneration market is growing due to the rising geriatric
population. Old age is one of the major risk factors of the disease, which may
lead to visual impairment, and eventually complete blindness. A report on
global aging population was published by the United Nations Department of
Economic and Social Affairs, which mentioned that the global population of
people in the 60 and above age group, is growing at a high rate. The share of
geriatric population by 2050 is predicted to grow to 21.1% from 11.7% in 2013.
Therefore,
the market for AMD is predicted to register remarkable growth in the forecast
period with the rising prevalence of this disease and surging geriatric
population.
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