Vision Loss In Elderly To Drive Age-related Macular Degeneration Product Sales

By Author: Pramod Kumar
Total Articles: 97
Comment this article

The Organization for Economic Co-operation and Development (OECD) Labour Force Statistics reveals that 16.89%, 18.65%, 23.37%, 20.56%, 21.86%, 19.65%, 6.57%, 28.79%, and 11.97% of the population of the U.S., the U.K., Italy, France, Germany, Spain, India, Japan, and China, respectively, were aged 65 years and over in 2020. The United Nations Department of Economic and Social Affairs (UNDESA) projects that the global population of people aged 65 years or above will increase from 727 million in 2020 to around 1.5 billion by 2050.

According to P&S Intelligence, the market was valued at $5.3 billion in 2015, and it will generate a revenue of $8.9 billion by 2022. This growth is also driven by the soaring healthcare spending, increasing cases of chronic diseases, and expanding pipeline of AMD therapeutics.

Avastin, eylea, lucentis, and visudyne are the different types of drugs being prescribed to AMD patients, as ineffective treatment and negligence can result in blindness in the affected population. In recent years, there has been a significant surge in the use of off-label drugs for treating AMD. The use of off-label ...
... drugs includes the usage of medication for a different medical condition or disease, in a different dose or way, which has not got the approval of the U.S. Food and Drug Administration (USFDA).

Globally, the North American region adopts the maximum quantity of AMD drugs due to the high burden of obesity and hypertension and hefty healthcare expenditure in Canada and the U.S. The Centers for Disease Control and Prevention (CDC) states that nearly 116 million people in the U.S. are currently living with hypertension, and around 37 million adults in the country are suffering from uncontrolled hypertension. Further, the Global Obesity Observatory reveals that 26.9% of adults in Canada were suffering from obesity in 2017.

Whereas, the Asia-Pacific (APAC) age-related macular degeneration market is projected to demonstrate the fastest growth in the forecast years. This will be on account of the rising prevalence of obesity and growing healthcare spending in the region. The Global Obesity Observatory estimates that 4.70% of the male population and 6.30% of the female population aged 15–49 years in India were obese in 2019–2020. In addition, the World Bank states that the current per capita health expenditure of India grew from $69.32 in 2017 to $72.835 in 2018.

Therefore, the burgeoning elderly population and surging healthcare expenditure will propel the consumption of AMD drugs in the foreseeable future.

Browse detailed report Age-Related Macular Degeneration Market Analysis and Demand Forecast Report@ https://www.psmarketresearch.com/market-analysis/age-related-macular-degeneration-market

Pramod has around 7 years of experience in market research and consulting services for healthcare industry. He holds varied experience in market sizing and forecasting with varied models, competition landscape, consumer behavior analysis, opportunity analysis, product/company benchmarking, data mining and others. He has successfully delivered multiple projects on go-to-market strategies, pricing strategy, price point analysis, Business Expansion, market entry and exit, share analysis and others. Prior to joining P&S Intelligence, he worked with different research companies, including Transparency Market Research and MarketsandMarkets Pvt Ltd. Some of the projects delivered by him include Scar Treatment Market, Skin Replacement and Substitutes Market, and Energy-Based Aesthetic Devices Market.