The Latin America, Middle East and Africa Age Related Macular Degeneration (AMD) Market would witness market growth of 9.2% CAGR during the forecast period (2023-2030).
With the rising number of products approved for treating wet AMD, the market for is anticipated to rise. For instance, Roche said that the FDA had authorized Susvimo (ranibizumab injection) 100 mg/mL for intravitreal use through an ocular implant to treat persons with neovascular or wet age-related macular degeneration (AMD) in October 2021.
To fill the healthcare gap, many pharmaceutical companies are actively competing in the market. Many pharmaceutical companies are currently focusing on treatments for age-related macular degeneration (AMD), and there are more than ten such medications in various phases of research.
The International Trade Administration estimates Saudi Arabia will spend $36.8 billion on healthcare and social development in 2022, accounting for 14.4% of its total budget. The privatization of the healthcare industry is a goal of the Saudi Arabian government. As part of Vision 2030, the Saudi Arabian government has allocated roughly $65 billion to the development of the healthcare sector.
Additionally, it intends to privatize 290 hospitals and 2,300 primary health centers by 2030, increasing private sector participation from 40% to 65%. With a 9.1% GDP expenditure on healthcare, Brazil has the largest healthcare sector in Latin America. 63% of the 6,642 hospitals in Brazil are private, 532,645 hospital beds, 88,000 healthcare support services, 502,000 doctors, 331,000 dentists, and 89,000 drugstores are all present as of 2021. At least 70% of the Brazilian population receives primary healthcare from the country's Unified Healthcare System (SUS). Also, the government of UAE aims to make the region a hub for medical tourism. The market is predicted to expand in this region due to growing healthcare infrastructure and government spending.
The Brazil market dominated the LAMEA Age Related Macular Degeneration (AMD) Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $198.6 million by 2030. The Argentina market is showcasing a CAGR of 9.8% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 8.9% during (2023 - 2030).
Based on Drug Type, the market is segmented into Aflibercept, Ranibizumab and Others. Based on Disease Type, the market is segmented into Wet and Dry. Based on Distribution Channel, the market is segmented into Hospital Pharmacy, Retail Pharmacy and Online Pharmacy. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Age Related Macular Degeneration (AMD) Market is Projected to reach USD 13.9 Billion by 2030, at a CAGR of 5.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Biogen, Inc., Bayer AG, Apellis Pharmaceuticals, Inc., Regeneron Pharmaceuticals, Inc., F. Hoffmann-La Roche Ltd., Ionis Pharmaceuticals, Inc., Novartis AG, Sanofi S.A., Coherus Biosciences, Inc. and Bausch Health Companies, Inc.
By Drug Type
By Disease Type
By Distribution Channel
By Country
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