Age Related Macular Degeneration Market Research, 2033
The age related macular degeneration market was valued at $10.0 billion in 2023 and is projected to reach $16.2 billion by 2033, growing at a CAGR of 5% from 2024 to 2033. Age related macular degeneration is a progressive eye disease that affects the macula, a part of the retina responsible for central vision.
Market Introduction and Definition
Age related macular degeneration is a progressive eye disorder that affects people aged 50 years and older. In such cases the macula of the eye is damaged and hence the individual is unable to read, drive or recognize face. It is one of the leading causes of vision loss among older adults worldwide. This condition majorly affects the central vision, which makes daily tasks difficult for the individual.
The cells in the macula become damaged and begin to die, causing vision loss as a person ages. The disease is typically categorized into dry age related macular degeneration and wet age related macular degeneration. Dry age related macular degeneration is common and involves the formation of small, yellow deposits in the macula, while wet age related macular degeneration is less common and involves the growth of abnormal blood vessels beneath the macula. In dry age related macular degeneration, treatment options include vitamin supplements and lifestyle changes to reduce risk factors. In wet age related macular degeneration, treatment involves medications that are injected into the eye to stop the growth of abnormal blood vessels. This treatment is called abnormal endothelial growth factor therapy, and it works by blocking the protein that stimulates the growth of abnormal blood vessels. The age related macular degeneration industry plays an important role in the vision loss challenge faced by the elderly population.
Side vision is preserved, however the loss of central vision can reduce independence and quality of life. Dry age related macular degeneration is one of the most common forms of age related macular degeneration. It develops gradually and is characterized by the thinning of the macula and the accumulation of yellow deposits called drusen under the retina. Wet age related macular degeneration is less common but more severe. It occurs when abnormal blood vessels grow beneath the retina and leak fluid or blood, leading to rapid damage to the macula. Wet age related macular degeneration can cause sudden and significant vision loss if not treated promptly. Early diagnosis and treatment play an important role in disease progression.
A family history of age related macular degeneration increases the risk of the condition. Smoking significantly raises the chance of developing age related macular degeneration and accelerates progression. High blood pressure and cholesterol are linked to age related macular degeneration. Further, ultraviolet light exposure may also contribute to retinal damage. Blurred or distorted central vision, difficulty recognizing faces and dark or empty spots in the center of vision are the common symptoms faced by people suffering from age related macular degeneration. Many individuals do not notice symptoms in early stages. Hence, it is important for the individual to undergo regular eye examinations for early detection.
Key Takeaways
- The age related macular degeneration market share study covers 20 countries. The research includes a segment analysis of each country in terms of value ($Billion) for the projected 2024-2033 age related macular degeneration market forecast period.
- More than 1, 500 product literatures, industry releases, annual reports, and other such documents of major age-related macular degeneration industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
- The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions to achieve their most ambitious growth objectives.
Key Market Dynamics
The age related macular degeneration market is experiencing steady growth due to increase in global aging populations and advancements in ophthalmic treatments. However, it also faces several challenges. Understanding the key drivers, restraints, and opportunities provides insight into the future development of the market.
Drivers
Increase in global elderly population is one of the major factors that fosters the growth of the market. It affects individuals aged 60 and older. Further, demographic shifts toward aging societies directly increase patient numbers. This creates a sustained demand for diagnosis and treatment. Increase in awareness about eye health and regular screening programs also foster the early detection rates. Patients are informed about symptoms and treatment options, leading to earlier medical intervention. This drives demand for ophthalmic consultations and therapeutic products.
The development of anti-VEGF drugs has significantly improved wet age related macular degeneration management. Continuous innovation in long-acting formulations and sustained-release implants reduces injection frequency, improving patient compliance. Pharmaceutical companies are investing heavily in research to develop next-generation therapies with improved safety and durability. Surge in access to healthcare services also supports market growth. Expansion of ophthalmology clinics, specialized eye hospitals, and advanced imaging technologies increases treatment availability.
Restraints
Anti-VEGF injections require repeated administration which increases the cost of treatment. High costs can limit accessibility in developing countries with limited insurance coverage. Further, frequent clinic visits for injections create inconvenience for elderly patients. Long-term adherence is anticipated to decline due to physical and financial burden. These factors limit the growth of the age related macular degeneration market.
Opportunities
Extended-duration anti-VEGF drugs and implantable delivery systems reduce treatment frequency. These innovations offer strong potential for the growth of the age related macular degeneration market. Gene therapy approaches aim to provide long-term or one-time treatment solutions. Successful development could transform the age related macular degeneration treatment landscape and create significant market expansion. Advancements in technology in retinal imaging, artificial intelligence diagnostics, and telemedicine help improve early detection and disease monitoring. These innovations enhance patient outcomes and market expansion.
Risk of getting advanced age-related macular degeneration for Age-related macular degeneration market
The risk of advanced age-related macular degeneration (AMD) increases significantly with age. Individuals aged 50-59 have a relatively low risk of 2%, but this risk escalates substantially as age progresses. For those above 75, the risk soars to 30%. This data highlights the pressing need for effective treatments in the AMD drugs market. As the population ages, there's a growing demand for therapies that can prevent or manage AMD, a condition causing severe vision loss. Pharmaceutical companies focusing on AMD drugs face a considerable market opportunity, particularly in catering to the needs of older age groups where the risk is highest.
Market Segmentation
The age related macular degeneration (AMD) market is segmented into drug type, disease type, distribution channels and region. On the basis of drug type, the market is categorized into aflibercept, ranibizumab and others. The aflibercept segment dominated the global market in 2022, owing to rise in adoption of aflibercept drug across the world and increase in prevalence of age related macular degeneration among elderly population. On the basis of disease type, the market is bifurcated into dry age related macular degeneration and wet age related macular degeneration. The wet age related macular degeneration segment dominated the global market in 2022, owing to rise in the prevalence of wet age related macular degeneration across the world. On the basis of distribution channel, the market is segmented into hospital pharmacy, retail pharmacy and online pharmacy. The hospital pharmacy segment occupied highest share in 2022 owing to increase in sales of prescription age related macular degeneration drugs from hospital pharmacy.
On the basis of region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and Rest of LAMEA). North America accounted for a major share of the age related macular degeneration (AMD) market in 2022 and is expected to maintain its dominance during the forecast period, owing to strong presence of several major players, such as, Biogen, Coherus Biosciences Inc, Apellis Pharmaceuticals and Bausch Health Companies Inc. and technological advancement in diagnostic methods. Asia-Pacific is expected to grow at the fastest rate during the forecast period, owing to increase in investments in development of treatment options for age related macular degeneration and rise in number of key players. In addition, favorable government policies are also contributing toward the growth of the market.
Which Segment Holds the Largest Market Share and Why?
Wet age related macular degeneration is less common than dry age related macular degeneration but it may cause severe vision loss. Wet age related macular degeneration (AMD) occurs when abnormal blood vessels grow beneath the macula and leak blood and fluid, causing damage to the macula and leading to scarring and vision loss. It may progress rapidly and cause severe vision loss if left untreated. Treatment for wet age related macular degeneration focuses on stopping the growth of abnormal blood vessels and preventing further damage to the macula. This may involve age related macular degeneration injections that are directly injected into the eyes by healthcare professional, such as anti-VEGF drugs, which target the proteins that stimulate the growth of abnormal blood vessels.
For instance, in October 2021 Roche announced that the U.S. Food and Drug Administration (FDA) has approved Susvimo (ranibizumab injection) 100 mg/mL for intravitreal use via ocular implant for the treatment of people with neovascular or wet age related macular degeneration.
Which Segment Is Expected to Grow at the Fastest Rate?
Dry age related macular degeneration is the most common type of age related macular degeneration and is characterized by the presence of yellowish deposits called drusen in the macula. These deposits are made up of lipids and proteins and are a hallmark of the disease. Dry age related macular degeneration progresses slowly and may not cause significant vision loss until later stages of the disease. There is no known cure for dry age related macular degeneration, but there are treatments that may help slow its progression. Treatment for dry age related macular degeneration focuses on managing the symptoms and slowing the progression of the disease. This may involve taking dietary supplements, such as vitamins C and E, zinc, and copper, that have been shown to be effective in slowing the progression of the disease.
The key factor that drives the growth of this segment are rise in the prevalence of dry age related macular degeneration among elderly population. For instance, according to 2021 report by National Center of Biotechnology Information (NCBI), it was estimated that about 90% population in world suffering from dry age related macular degeneration (AMD) wet In addition, rise in the R&D activities toward age related macular degeneration (AMD) for the treatment dry age related macular degeneration (AMD) across the world boost the growth of market. For instance, Apl-2, Zimura, Oracea, and others are the drug molecules recently being investigated for the treatment of late-stage dry age related macular degeneration.
How is the Market Growth Estimated in the Asia-Pacific Region?
The Asia-Pacific age related macular degeneration market comprises five countries that report differential patterns, in terms of healthcare awareness. Countries considered in the study include India, China, Japan, Australia, and Rest of Asia-Pacific. Asia-Pacific provides lucrative opportunities for players operating in the age related macular degeneration market, owing to its high population base, increase in disposable income, and increase in awareness regarding age related macular degeneration among patients, increase in demand for treatment options and related services as well as rise in spending on healthcare research. Thus, above mentioned factors are predicted to contribute toward growth of the age related macular degeneration market during the forecast period.
How Is Artificial Intelligence Transforming the Age Related Macular Degeneration Market?
Artificial intelligence helps improve early diagnosis, treatment planning, and disease monitoring. Age related macular degeneration is a progressive eye condition that requires timely detection and continuous management. AI technologies help ophthalmologists detect changes in the retina. It helps analyze retinal images to identify early signs of macular degeneration. These systems are trained using large datasets and can detect subtle abnormalities. Early detection also allows physicians to begin treatment sooner, which can significantly slow disease progression and preserve vision.
AI also supports risk prediction. AI models help estimate a patient risk of developing advanced age related macular degeneration by analyzing patient history, genetic data, lifestyle factors, and imaging results. This predictive capability allows healthcare providers to monitor high-risk patients more closely and implement preventive strategies.
Regional/Country Market Outlook
The market outlook for age related macular degeneration market share across regions and countries, influenced by factors such as demographics, healthcare infrastructure, and access to treatments. Developed regions such as North America and Europe exhibit robust markets due to higher healthcare spending and aging populations. These regions often have advanced treatment options available and strong clinical research. Emerging markets in Asia-Pacific and Latin America are witnessing rapid growth, driven by increase in awareness, improvement in healthcare access, and rise in prevalence of AMD. However, challenges such as affordability and regulatory hurdles are expected to hamper market growth in these regions. Overall, the AMD drugs market presents opportunities for innovation and growth globally, with varying dynamics across different regions.
According to an article by the World Health Organization (WHO) published in October 2022, it was estimated that 1 in 6 people in the world are expected to be aged 60 years or over by 2040. Age-related macular degeneration (AMD) is a leading cause of blindness and visual impairment among older adults, which may have a significant impact on their quality of life and ability to perform daily activities.
Industry Trends
- On February 2023, Global vision and brain research non-profit BrightFocus Foundation celebrates the U.S. Food and Drug Administration’s (FDA) approval of Syfovre (pegcetacoplan injection) , the first-ever treatment to slow the progression of vision loss from geographic atrophy (GA) , an advanced form of dry age-related macular degeneration and a leading cause of blindness.
- According to the factsheet published by Bright Focus Foundation in October 2022, about 11 million people in the U.S. have some form of age-related macular degeneration and this number is expected to double to nearly 22 million by 2050.
Competitive Landscape
Competitive analysis and profiles of the major players in the age related macular degeneration (AMD) market, such as Regeneron Pharmaceuticals Inc., Novartis AG, F. Hoffmann-La Roche Ltd, Biogen, Bayer AG, Bausch Health Companies Inc, Coherus Biosciences Inc, Sanofi, Apellis Pharmaceuticals and Ionis Pharmaceuticals, Inc . Major players have adopted product approval and product launch as key developmental strategies to improve the product portfolio of the age related macular degeneration (AMD) market.
Recent Key Strategies and Developments
- In February 2020, Novartis announced that European Commission (EC) has approved Beovu (brolucizumab) injection for the treatment of wet age related macular degeneration (AMD). Beovu is the first EC-approved anti-VEGF treatment to demonstrate superior resolution of retinal fluid (IRF/SRF).
- In September 2021, Samsung Bioepis Co., Ltd., and Biogen Inc. announced that the U.S. Food and Drug Administration (FDA) has approved Byooviz (ranibizumab-nuna), for the treatment of neovascular (wet) age related macular degeneration (AMD.
- In February 2023, Apellis Pharmaceuticals, Inc. announced that the U.S. Food and Drug Administration (FDA) has approved SYFOVRE (pegcetacoplan injection) for the treatment of geographic atrophy (GA) secondary to age related macular degeneration (AMD).
Key Sources Referred
- World Health Organization (WHO)
- Centers for Medicare & Medicaid Services (CMS)
- National Health Service (NHS)
- National Health Mission (NHM)
- Centers for Disease Control and Prevention (CDC)
- Food and Drug Administration (FDA)
- National Institutes of Health (NIH)
- Coherus BioSciences, Inc.
- Mental Health Foundation
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the age related macular degeneration market analysis from 2024 to 2033 to identify the prevailing age related macular degeneration market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the age related macular degeneration market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global age related macular degeneration market trends, key players, market segments, application areas, and market growth strategies.
Age Related Macular Degeneration Market Report Highlights
| Aspects | Details |
 Market Size By 2033 | USD 16.2 Billion |
 Growth Rate | CAGR of 5% |
 Forecast period | 2024 - 2033 |
 Report Pages | 216 |
 By Drug Type |
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 By Disease Type |
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 By Distribution Channel |
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 By Region |
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 Key Market Players | Bayer AG, Bausch Health Companies Inc., F. Hoffmann-La Roche Ltd., Sanofi, Novartis AG, Apellis Pharmaceuticals, Coherus Biosciences Inc, Ionis Pharmaceuticals, Inc, Regeneron Pharmaceuticals Inc., Biogen |
The total market value of Age Related Macular Degeneration Market is $19.9 billion in 2023.
The forecast period for Age Related Macular Degeneration Market is 2024 to 2033
The market value of Age Related Macular Degeneration Market in 2033 is $16.2 billion
The base year is 2023 in Age Related Macular Degeneration Market .
Top companies such as Regeneron Pharmaceuticals Inc. , Novartis AG , F. Hoffmann-La Roche Ltd. , Biogen , Bayer AG , held a high market position in 2023. These key players held a high market postion owing to the strong geographical foothold in North America, Europe, Asia-Pacific, LAMEA.
The Afliberceptsegment is the most influencing segment in Age Related Macular Degeneration Market.
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