North America & Europe Age-related Macular Degeneration Therapeutics Market Size and Share Is Expected To Exhibit a CAGR Of 6.1% By 2027 – Coherent Market Insights
SEATTLE, April 29, 2021, (PHARMIWEB) — North America and Europe Age-related Macular Degenerative (AMD) Therapeutics market analysis
Impact of COVID-19 epidemic
The key regions such as Europe and North America have witnessed the impact of COVID-19 epidemic in their ophthalmology market. Following the official confirmation from the World Health Organization (WHO) on March 11, 2020, the COVID-19 epidemic was declared as a public health emergency. Besides the rising COVID-19 incidences in the U.S., the Centers for Disease Control and Prevention had advised the American Academy of Ophthalmology to disclose the guidelines on spread on the pandemic. As per the guidelines, it is essential for all ophthalmologists to terminate their practices and are enabled to offer any medical aid to emergency cases.
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The macular degeneration or the age-related macular degeneration (AMD) is a disorder which leads to loss of central vision resulting from the thinning of macula present in the retina. Generally, the AMD occurs among the geriatric population and can lead to permanent loss of vision in people aging over 60. Typically, the AMD is of two categories; wet age-related macular degeneration (wet AMD) and dry age-related macular degeneration (dry AMD). Dry AMD is a usual type of macular degeneration in which the macula becomes thin with age and causes the loss of central vision. As of now, there is no treatment present for dry AMD. The wet AMD is a rare type of macular degeneration in which the blood vessels grow abnormally under the retina. Wet AMD can be controlled via the injections of anti-vascular endothelial growth factor (anti-VEGF).
The North America & Europe AMD therapeutics market is expected to manifest a CAGR of 6.1% over the forecast period (2020-2027) and is approximated to be worth around US$ 9,958.7 million in 2020.
Rising incidences of AMDs is expected to boost growth of the North America and Europe AMD therapeutics market over the forecast period.
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Rising incidences of age-related macular degeneration are expected to boost growth of the North America and Europe age-related macular degeneration therapeutics market. As per the report of the International Agency for the Prevention of Blindness (IAPB), the AMD is responsible for 5% of blindness in the world. Furthermore, in January 2019, the BrightFocus Foundation published an article which estimated that around 196 million people in the world will have AMD in 2020 and the numbers will rise to 288 million by 2040.
- According to the type of disease: Dry AMD, Wet AMD.
- According to the Drug Type: Brolucizumab (Beovu), Verteporfin (Visudyne), Supplements, Ranibizumab (Lucentis), Aflibercept (Eylea), Bevacizumab (Avastin), Pegaptanib (Macugen), and Others.
- According to the Disease Type: Online Pharmacies, Hospital Pharmacies, and Retail Pharmacies.
Increased volume of approvals and the launches of AMD therapeutics is expected to propel the market growth over the forecast period.
The increased sanction rate of AMD products by the regulatory authorities and their launch by key players of the market, is expected to propel the market growth over the forecast period. In October 2019, the Novartis had gained the approval from the U.S. Food and Drug Administration (FDA) for its Brolucizumab (beovu) injection for diagnosing wet AMD.
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The presence of alternative treatments for AMDs such as photo-coagulation, low vision rehabilitation, and photo-dynamic therapy is expected to hamper growth of the North America and Europe age-related macular degeneration therapeutics market over the forecast period.About Us:
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