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The Global Age-Related Macular Degeneration (AMD) market size is estimated to grow by USD 4,360.68 million between 2022 and 2027 and the AMD market size is forecast to increase at a CAGR of 5.95%. AMD is more prevalent in the geriatric population and market players are consistently focussing on therapies such as gene therapies to help everyone fight AMD. Vendors are also strategically aligning with each other to come up with products and procedures showing positive results. For instance, in December 2020, Janssen Pharmaceuticals, Inc. (Johnson and Johnson) acquired the rights to Hemera Biosciences, LLC investigational gene therapy HMR59, which is administered as a one-time, outpatient, intravitreal injection and helps to preserve vision in patients with geographic atrophy, a late-stage and severe form of AMD. Furthermore, the growing awareness of AMD is also driving the market.
Technavio has divided the AMD market into three segments that are type, distribution channel, and geography.
Our age-related macular degeneration therapeutics market report also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Based on the age-related macular degeneration market, the type analysis is bifurcated into Wet AMD and Dry AMD.
Wet AMD
The wet AMD segment is leading the age-related macular degeneration therapeutics market and this segment was valued at USD 9,772.67 million in 2017 and continued to grow until 2021. In wet AMD, abnormal blood vessels grow under the retina and macula. These newly-formed blood vessels bleed and leak fluid, causing the macula to bulge or lift from its normally flat position, thus destroying central vision. People with wet AMD can see a dark spot in the center of their vision due to blood or fluid under the macula. The United States Food and Drug Administration (US FDA) approved LUCENTIS, EYLEA, and MACUGEN for the treatment of wet AMD, and all these drugs are VEGF inhibitors. The market is expected to witness the approval of late-stage pipeline molecules during the forecast period. For instance, Novartis is developing Bolucizumab, and Roche is developing Faricimab (RG7716) for the treatment of wet AMD. All these factors are expected to enhance the age-related macular degeneration therapeutics market growth.
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Dry AMD
Dry AMD is a highly prevalent condition, which accounts for 85%-90% of AMD cases. Dry AMD causes blurred central vision due to thinning of the macula, which is part of the retina responsible for clear vision in a direct line of sight. Several drugs are expected to enter the market during the forecast period, which will boost the growth of the age-related macular degeneration therapeutics market segment. For instance, APL-2 is a synthetic cyclic peptide conjugated to a polyethylene glycol polymer that binds specifically to complement components 3 (C3) and C3b. It inhibits the complement cascade centrally at C3 which helps to treat dry AMD. Similarly, ALK-001 is a once-daily oral drug candidate for the treatment of dry AMD.
Hospital Pharmacy
The hospital pharmacy segment is dominating the global age-related macular degeneration therapeutics market with the largest market share in 2022. This dominance can be attributed to the increasing prevalence and hospitalization of AMD. The increasing demand for AMD treatment is expected to increase the number of hospital visits, which in turn will drive the growth of the market during the forecast period.
Specialty Pharmacy
The specialty pharmacy segment is expected to grow fastest during the forecast period owing to the easy availability of medicines and easy reimbursement of specialty pharmacies. For example, CVS Caremark provides Eylea, Lucentis, Avastin, and Beovu by prescription to eligible retirees and employees enrolled in the Public Employee Insurance Program (PEIP) program. This initiative aims to boost the growth of the segment.
Online Pharmacy
Increasing internet penetration, digitization of healthcare services, and the growing number of tech-savvy consumers across the globe are the key factors driving the segment's growth. Growing consumer preference for online shopping, which is increasingly focused on convenience, also contributes to the growth. New product launches for the treatment of AMD, increasing prevalence of AMD, and a strong product portfolio is expected to be the major drivers of the online pharmacy segment.
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North America is estimated to contribute 44% to the growth of the global age-related macular degeneration therapeutics market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market growth in North America is primarily attributed to the high prevalence of AMD. Approximately nearly 20 million adults in the United States have some form of age-related macular degeneration, and the number is anticipated to increase to 30 million by 2050. Similarly, according to Health Canada, nearly 200,000 new cases of AMD are getting diagnosed in Canada every year. The increasing prevalence is majorly due to the presence of high-risk factors. Age is a major risk factor for AMD. The risk of getting advanced AMD increases from 2% for people in the age group of 50-59 years to nearly 30% for people aged above 75 years. According to the Centers for Disease Control and Prevention (CDC), the geriatric population in the US is projected to nearly double from 48 million in 2015 to 88 million by 2050.
The outbreak of COVID-19 severely impacted the AMD therapeutics market in North America. However, the lifting of lockdowns, followed by the rescheduling of ophthalmic follow-up treatment and the adoption of contactless delivery of AMD therapeutics, are expected to boost the growth of the regional AMD market during the forecast period.
There is high competition in the age-related macular degeneration market. Among several market players, the organization Regeneron Pharmaceuticals Inc. stands out among the competitors due to technological innovation and the on-point marketing strategy.
Regeneron Pharmaceuticals Inc. - The company offers EYLEA injections for the treatment of patients with neovascular age-related macular degeneration. The company provides medicines and pipelines designed to help patients with eye disease, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, infectious diseases, pain, and rare diseases.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Technavio’s report consists of a holistic analysis of the key development analysis, development stage, pipeline analysis, FDA approval, market players, their marketing strategies, and powerful innovations to help any client gain a competitive edge.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
Key Age-related Macular Degeneration Market Driver
The high prevalence of AMD is notably driving the market growth. AMD is a progressive blinding disease, and in its most advanced stages, it deprives an individual ability to perform basic activities such as reading, recognizing faces, and driving. AMD affects the macula (central) region of the retina. Globally, the prevalence of AMD is very high, owing to the presence of high-risk factors for developing the condition. According to the CDC, AMD is the leading cause of blindness globally and is the leading cause of vision loss and blindness in people aged 65 years and above.
Risk factors such as aging, smoking, high cholesterol, and high blood pressure are the major contributors to the development of AMD. According to the NCBI article published by Katie L. Pennington et al., approximately 170 million individuals were affected by AMD globally in 2020, and this figure is expected to increase to 288 million by 2040. The prevalence rate of dry AMD is around 85%-90%, and wet AMD is 10%-15%. Despite the high prevalence of dry AMD, no approved therapies are available in the market for the treatment of the condition. The high prevalence, coupled with the huge unmet medical need for dry AMD, is expected to drive market growth during the forecast period.
Significant Age-related Macular Degeneration Market Trend
The development of gene therapy for AMD is a major trend in the market. Currently, only a few drugs are approved for the treatment of AMD. These drugs are effective in treating AMD; however, the side effects associated with them are very server, and the majority of them act against VEGF only. Hence, there is a huge unmet need for safe and novel drugs to treat AMD. The currently available ant-VEGF therapies require repetitive and inconvenient intraocular injections. Owing to factors such as inconvenience and discomfort associated with frequent injections in the eye, patient compliance is a significant concern with anti-VEGF therapies. Hence, several companies are working on novel drugs against AMD, among which gene therapy is expected to cure the disease effectively. Hence, the development of gene therapy will be a positive trend for the global AMD therapeutics market.
In gene therapy, the gene is typically delivered into the eye through an intravitreal injection by using a modified virus, which does not cause harm to cells. REGENXBIO Inc. is developing RGX-314 for the treatment of wet AMD. RGX-314 is a one-time subretinal treatment. It is a NAV AAV8 vector containing a gene encoding for a monoclonal antibody fragment. The expressed protein is designed to neutralize VEGF activity, modifying the pathway for the formation of new leaky blood vessels and retinal fluid accumulation. RGX-314 is in the Phase I/II stage of clinical development. Thus the development of gene therapy will boost the growth of the global AMD therapeutics market during the forecast period.
Major Age-related Macular Degeneration Market Challenge
The lack of approved therapies for dry AMD is the major challenge impeding the AMD market growth. Despite the high prevalence, dry AMD remains untreated due to a historically poor understanding of the disease. Currently, all the available treatments for AMD are only for wet AMD, and there are no approved drugs for the treatment of dry AMD. Off-label drugs are largely used for the symptomatic treatment of dry AMD. Vitamin C, vitamin E, lutein, zeaxanthin, zinc, and copper supplements help in reducing the risk of vision loss in dry AMD.
Furthermore, some of the drugs failed in clinical trials for the treatment of dry AMD. Hence, the lack of approved therapies and the presence of only a few late-stage molecules for the treatment of dry AMD is expected to hinder the AMD market growth during the forecast period.
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Key Age-related Macular Degeneration (AMD) Market Customer Landscape
The report includes the adoption lifecycle of the AMD market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Age-related Macular Degeneration Market Customer Landscape
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Age-related Macular Degeneration Market Scope |
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Report Coverage |
Details |
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Page number |
154 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.95% |
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Market growth 2023-2027 |
USD 4,360.68 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
5.08 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 44% |
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Key countries |
US, Germany, UK, France, and Japan |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AbbVie Inc., Adverum Biotechnologies Inc., Alimera Sciences Inc., Alkeus Pharmaceuticals Inc., Amgen Inc., Apellis Pharmaceuticals Inc., Bausch Health Co Inc., Bayer AG, Biocon Ltd., Bio-Thera Bio Pharmaceutical Co. Ltd., F. Hoffmann La Roche Ltd., IVERIC bio Inc., Lupin Ltd., Novartis AG, Outlook Therapeutics Inc., Pfizer Inc., Regeneron Pharmaceuticals Inc., Ribomic Inc., Viatris Inc., and Xbrane Biopharma AB |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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