Verteporfin, also known as Visudyne, is a light activated drug approved by the U.S. Food and Drug Administration for the treatment of wet or neovascular age-related macular degeneration (AMD). It is used along with photodynamic therapy which involves injecting verteporfin into the bloodstream and shining a special type of non-thermal laser light on the eye to seal leaky blood vessels and stop further growth/damage of abnormal blood vessels at the back of eye. This slows down the loss of central vision associated with wet AMD.

The global Verteporfin Market is estimated to be valued at US$ 140.71 million in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends driving the growth of the verteporfin market is increasing aging population predisposed to AMD. AMD is an eye disease that affects central vision and is a leading cause of vision loss in people over the age of 55. As life expectancy is increasing worldwide, the geriatric population aged over 65 years is growing rapidly. This has led to a rise in incidence of AMD. For example, according to the World Health Organization data, the number of people aged over 65 years is projected to grow from 703 million in 2019 to more than 1.5 billion in 2050 globally. Hence, increase in elderly population will subsequently propel the demand for verteporfin for AMD treatment in the coming years.
 

Segment Analysis
The global verteporfin market is dominated by the wet age-related macular degeneration segment. This segment holds a majority share owing to verteporfin being FDA approved specifically for the treatment of this condition. Wet AMD is a leading cause of blindness among the elderly population globally. The condition is characterized by growth of new blood vessels under the retina which can cause damage and deteriorate vision. Verteporfin has been found effective in slowing down disease progression when administered with light therapy for wet AMD patients.

Key Takeaways
The Global Verteporfin Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to increase from USD 140.71 million in 2023 to USD 220.49 million by 2030, registering a CAGR of 5.0% during the forecast period. Regional analysis

Regional analysis
North America is currently the largest market for verteporfin and is expected to continue dominating the market over the next few years. The high prevalence rates of wet AMD coupled with developed healthcare infrastructure and increasing spending on ophthalmology are major factors driving market growth in the region. The Asia Pacific region is anticipated to emerge as the fastest growing market during the forecast period owing to growing geriatric population, improving access to healthcare facilities, and rising awareness about treatment options for eye diseases.

Key players
Key players operating in the verteporfin market are Bausch Health Companies Inc., Cheplapharm Arzneimittel, Novartis AG, Novelion Therapeutics Inc., Ciba Corporation, and LGM Pharma, LLC. Bausch Health and Novartis AG collectively hold a major market share as they offer Visudyne, the branded formulation of verteporfin which is the standard of care in wet AMD treatment. Other key players are focusing on manufactuing generic versions to gain market share.

Explore more information on this topic, Please visit @ https://www.marketwebjournal.com/rising-prevalence-of-age-related-macular-degeneration

Verteporfin, also known as Visudyne, is a light activated drug approved by the U.S. Food and Drug Administration for the treatment of wet or neovascular age-related macular degeneration (AMD). It is used along with photodynamic therapy which involves injecting verteporfin into the bloodstream and shining a special type of non-thermal laser light on the eye to seal leaky blood vessels and stop further growth/damage of abnormal blood vessels at the back of eye. This slows down the loss of central vision associated with wet AMD.

The global Verteporfin Market is estimated to be valued at US$ 140.71 million in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends driving the growth of the verteporfin market is increasing aging population predisposed to AMD. AMD is an eye disease that affects central vision and is a leading cause of vision loss in people over the age of 55. As life expectancy is increasing worldwide, the geriatric population aged over 65 years is growing rapidly. This has led to a rise in incidence of AMD. For example, according to the World Health Organization data, the number of people aged over 65 years is projected to grow from 703 million in 2019 to more than 1.5 billion in 2050 globally. Hence, increase in elderly population will subsequently propel the demand for verteporfin for AMD treatment in the coming years.
 

Segment Analysis
The global verteporfin market is dominated by the wet age-related macular degeneration segment. This segment holds a majority share owing to verteporfin being FDA approved specifically for the treatment of this condition. Wet AMD is a leading cause of blindness among the elderly population globally. The condition is characterized by growth of new blood vessels under the retina which can cause damage and deteriorate vision. Verteporfin has been found effective in slowing down disease progression when administered with light therapy for wet AMD patients.

Key Takeaways
The Global Verteporfin Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to increase from USD 140.71 million in 2023 to USD 220.49 million by 2030, registering a CAGR of 5.0% during the forecast period. Regional analysis

Regional analysis
North America is currently the largest market for verteporfin and is expected to continue dominating the market over the next few years. The high prevalence rates of wet AMD coupled with developed healthcare infrastructure and increasing spending on ophthalmology are major factors driving market growth in the region. The Asia Pacific region is anticipated to emerge as the fastest growing market during the forecast period owing to growing geriatric population, improving access to healthcare facilities, and rising awareness about treatment options for eye diseases.

Key players
Key players operating in the verteporfin market are Bausch Health Companies Inc., Cheplapharm Arzneimittel, Novartis AG, Novelion Therapeutics Inc., Ciba Corporation, and LGM Pharma, LLC. Bausch Health and Novartis AG collectively hold a major market share as they offer Visudyne, the branded formulation of verteporfin which is the standard of care in wet AMD treatment. Other key players are focusing on manufactuing generic versions to gain market share.

Explore more information on this topic, Please visit @ https://www.marketwebjournal.com/rising-prevalence-of-age-related-macular-degeneration