Age-Related Macular Degeneration Treatment Market Value to Exceed $10 Billion by 2023
The Age-related Macular Degeneration (AMD) treatment market across seven major countries (the US, UK, Germany, France, Spain, Italy and Japan) will almost double in value from $5.1 billion in 2013 to $10.1 billion by 2023, according to research and consulting firm GlobalData.
The company’s latest report* states that the main drivers for this considerable expansion, which will occur at a Compound Annual Growth Rate (CAGR) of 7.1%, are the new therapies entering the market and a global aging society, which will lead to increasing numbers of elderly people developing the age-related retinal disease.
Catherine Daly, PhD, GlobalData’s Analyst covering Neurology and Ophthalmology, says: “The global AMD treatment market is overwhelmingly dominated by anti-vascular endothelial growth factor (anti-VEGF) drugs, including Lucentis, Avastin, and Eylea, which together accounted for 98% of sales for AMD in 2013.
“However, the anti-VEGF monopoly is set to take a dramatic tumble due to the launch of novel adjunctive therapies for wet AMD, Fovista and squalamine, and the introduction of two therapies for dry AMD, lampalizumab and emixustat, during the forecast period. These entrants will cause the anti-VEGFs’ stronghold on the market to drop to 64% by 2023.”
GlobalData’s report also states that the US had the largest AMD treatment market among the seven major countries in 2013, due to its large population, relatively higher drug prices, and overall higher drug treatment rates.
The US accounted for 49% of the global AMD therapeutics market in 2013 and will achieve a 55% share by 2023, with its market value forecast to more than double from $2.5 billion to $5.6 billion over the same period.
Daly comments: “The new therapies entering the market will be the main drivers of growth in the US, with the wet AMD drugs Fovista, squalamine, and abicipar pegol launching in 2017, 2018, and 2020, respectively.
“Fovista is undergoing an extensive Phase III development programme, and the data released to date have shown that this drug provides added benefit over the standard of care (anti-VEGF monotherapy). This indicates that the drug will enjoy good market success during the forecast period, with its US sales reaching $603 million by 2023.”
Related News
-
News Patients vs Pharma – who will the Inflation Reduction Act affect the most?
The Inflation Reduction Act brought in by the Biden administration in 2022 aims to give better and more equitable access to healthcare in the USA. However, pharma companies are now concerned about the other potential costs of such legislation. -
News CPHI Podcast Series: What does the changing US Pharma market mean for industry and patients alike?
In this week's episode of the CPHI Podcast Series Lucy Chard, Digital Editor for CPHI Online is joined by James Manser to discuss the political and market changes in the US pharma field. -
News CPHI Barcelona Annual Report illuminates industry trends for 2024
The CPHI Annual Survey comes into it’s 7th year to report on the predicted trends for 2024. Over 250 pharma executives were asked 35 questions, with their answers informing the industry landscape for the next year, spanning all major pharma marke... -
News Which 10 drugs are open to price negotiation with Medicare in the USA?
The Centres for Medicare & Medicaid Services, under the Biden administration in the USA, has released a list of the 10 drugs that will be open to price negotiations as part of the new legislation under the Inflation Reduction Act (IRA). -
News EU Medical Devices Regulation causes unintended disappearances of medical devices for children, doctors state
Doctor groups and associations have appealed to the EU to correct the EU Medical Devices Regulation law that may cause unintended shortages of essential drug and medical devices for children and rare disease patients. -
News 10 Major Drug Approvals So Far in 2023
Last year, 37 novel drugs were approved by the FDA, this was a high number for such a category, and covered many fields including oncology, demonstrating how promising further research is, and how it is only continuing to build. To date, there are alre... -
News Detecting Alzheimer's disease with a simple lateral flow test
A novel rapid diagnostic test for early-stage Alzheimer's disease has been developed using a biomarker binder from Aptamer Group along with technology from Neuro-Bio, the neurodegenerative disease experts. -
News CPHI Podcast Series: outsourcing and manufacturing trends
Listen to the CPHI Podcast Series this June to hear Gil Roth of the PBOA speak with Digital Editor Lucy Chard about the biggest trends and topics to watch in pharma outsourcing and manufacturing at the minute.
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance