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.
