Global Age-related Macular Degeneration Market 2016-2020
AMD is the degeneration or disintegration of the eye's macula. The macula is a small area of the retina that is responsible for the central vision. AMD can be classified into two types: dry and wet macular degenerations. When the tiny abnormal blood vessels begin growing toward the macula, it develops into wet AMD. Dry AMD occurs when small, yellowish deposits called drusen start accumulating beneath the macula. While some treatments are available for wet AMD; there is no treatment available at the moment for dry AMD.
Technavio’s analysts forecast the global age-related macular degeneration (AMD) market to grow at a CAGR of 7.37% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global age-related macular degeneration (AMD) market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of branded, generic, and off-label drugs used for the treatment of AMD.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Age-Related Macular Degeneration (AMD) Market 2016-2020
Technavio recognizes the following companies as the key players in the global age-related macular degeneration (AMD) market: Bayer HealthCare, F. Hoffmann-La Roche, Novartis, and Regeneron Pharmaceuticals.
Other Prominent Vendors in the market are: Alcon, Allergan, Adverum Biotechnologies, Bausch + Lomb, Gilead Sciences, Iconic Therapeutics, Lpath, Neurotech Pharmaceuticals, Ohr Pharmaceutical, Opthea, Ophthotech, PanOptica, Pfizer, Promedior , QLT, Quark, Resolvyx Pharmaceuticals, RXi Pharmaceuticals, Sagent Pharmaceuticals, Santen Pharmaceuticals, and Sanwa Kagaku Kenkyusho.
Commenting on the report, an analyst from Technavio’s team said: “The AMD market is experiencing a shift toward combination products, using two or more effective treatments. Parallel with the introduction of novel, potent monotherapies for AMD, the market is facing a clear trend toward individualized medicine. The shortcomings of treatment with a single drug can overcome with the use of combination therapy. With AMD, this may mean combination therapy. The need for practical combination therapy exists to address these shortcomings of monotherapy. The goal of combination therapy is to disrupt the multiple stimuli that lead to pathologic cellular proliferation.”
According to the report, one of the key drivers for market growth will be increasing reimbursement benefits for AMD drugs. Medicare creates a national reimbursement rate depends on the average selling price of the drug. In this case, the agency pays approximately almost 80% of the ranibizumab and bevacizumab injection, leaving 20% of the drug cost to be co-paid. Medicare Part B (insurance) also covers specific diagnostic tests and treatment of conditions and diseases of the eye, including treatment with specific injected drugs.
Further, the report states that the lack of trained ophthalmologists who have expertise in treating eye disorders such as AMD is one of the key challenges in the market. Although the number of people diagnosed with or prone to eyesight disorders has been on the rise every year, there are not enough trained and experienced eye care professionals (ophthalmologists, optometrists, ophthalmic assistants, and ophthalmic nurses) to treat eye disorders. For instance, in Europe, there is just one ophthalmologist for every 8,000 people. The situation is worse in low- and middle-income countries such as India, where there is just one ophthalmologist for every 200,000 people. This poses a significant challenge to the growth of the market.
Bayer HealthCare, F. Hoffmann-La Roche, Novartis, Regeneron Pharmaceuticals, Alcon, Allergan, Adverum Biotechnologies, Bausch + Lomb, Gilead Sciences, Iconic Therapeutics, Lpath, Neurotech Pharmaceuticals, Ohr Pharmaceutical, Opthea, Ophthotech, PanOptica, Pfizer, Promedior , QLT, Quark, Resolvyx Pharmaceuticals, RXi Pharmaceuticals, Sagent Pharmaceuticals, Santen Pharmaceuticals, and Sanwa Kagaku Kenkyusho.