AMD(US:AMD) GlobeNewswire News Room·2024-11-08 16:26Core Insights - The Age-Related Macular Degeneration (AMD) drugs market is projected to grow from USD 10.46 Billion in 2024 to USD 17.37 Billion by 2029, at a CAGR of 10.7% during the forecast period [2] Market Overview - The geriatric population (above 60 years) is expected to double by 2050, significantly impacting the number of AMD cases, as AMD is associated with aging [3] - Lifestyle factors such as smoking, diet, and physical activity are critical in influencing AMD risk [3] Lifestyle Impact - Smoking can accelerate the onset of AMD by an average of 5.5 years, with smokers developing AMD up to 10 years earlier than non-smokers [4] - Moderate to heavy alcohol consumption and higher body mass index (BMI) are linked to increased risks of early and late AMD [5] Drug Development and Approvals - Companies are expanding their drug pipelines and seeking fast-track designations to enhance product availability due to rising AMD incidences [5] - Notable fast-track designations include Opthea Limited's OPT-302 in 2021 and Adverum Biotechnology's Ixo-vec in 2023 [6] Product Performance - Vabysmo (faricimab-svoa) is expected to register the highest growth in the AMD drugs market from 2024 to 2029, supported by positive feedback from patients and ophthalmologists [7] - The revenue of Vabysmo increased fourfold from 2022 to 2023, indicating strong market acceptance [8] End User Segmentation - Hospitals are projected to experience the highest growth in the AMD drugs market, attributed to their advanced healthcare infrastructure and specialized treatment facilities [9][10] Approval Type Segmentation - The biologics segment is expected to grow the fastest in the AMD drugs market, driven by an increase in approvals for new biologics [11][12] Geographic Insights - North America is anticipated to be the fastest-growing region in the AMD drugs market, influenced by rising AMD cases, increased pharmaceutical R&D spending, and supportive government policies [13]