Rising Disease Prevalence to Drive Age-Related Macular Degeneration Market Forward

Registering a CAGR of 7.6% during the forecast period (2016–2022), the global age-related macular degeneration (AMD) market is projected to garner $8.9 billion by 2022, significantly growing from $5.3 billion in 2015. 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. 

Based on type, the age-related macular degeneration market is bifurcated into wet AMD and dry AMD. Between the two, during the historical period (2012–2015), the larger revenue in the market was generated by the wet AMD type. This type of AMD is caused due to the abnormal growth of blood vessels from the choroid layer, which is situated beneath the macula. It is also known as neovascular macular degeneration, and even though it accounts for only 10–15% of AMD cases, it is expected to be the faster growing category in the forecast period.

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With the rising awareness about the disease, more funding is being allocated in the research and development of AMD therapeutics. This is resulting in the increase in the number of AMD pipeline drugs. Currently, the U.S. Food and Drug Administration has not approved any drug in the age-related macular degeneration (AMD) market for dry age-related macular degeneration. Therefore, the need to investigate more compounds with possible therapeutics properties is rising. Some of the major investigational compounds in the market are Roche/Genentech’s lampalizumab, MacuCLEAR’s MC1101, and Allergan’s brimonide implant.

Therefore, the market for age-related macular degeneration 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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Biosimilar Medicines: Cost-Effective Alternatives to Conventional Medicines

 The other major factor fueling the demand for these medicines is the rising incidence of various chronic diseases throughout the world. As per the studies of the World Health Organization (WHO), “cardiovascular disease resulted in 31% of all deaths, globally, and cancer constituted the second-most devastating disease, causing approximately 9.6 million deaths worldwide in 2016.” Apart from this factor, the surging geriatric population is also pushing up the requirement for biosimilar medicines. 

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As per the findings of the National Institutes of Health, geriatric people (people in the age bracket 65 years and above) accounted for 8.5% of the global population in 2015 and this share is predicted to rise to 17% in 2050. Due to the rapid growth of the geriatric population, the prevalence of chronic diseases would increase as the older people are more vulnerable to chronic diseases. This would, in turn, augment the sales of biosimilars in the coming years.

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P&S Intelligence, a market research company based in India, found that the sales of biosimilar medicines were significantly higher in Europe than the other regions around the world during the past few years, primarily due to the huge investments that were made in R&D (research and development) activities by biopharmaceutical firms and the presence of a large geriatric population and flexible regulatory guidelines regarding the usage of biosimilars in the region. 

Hence, it can be said with full surety that the sales of biosimilar products will shoot-up all over the world in the years ahead, mainly because of the highly affordable prices of these medicines, the rising incidence of cancer and other chronic diseases, and the increasing geriatric population in several countries around the world.

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