Age-related Macular Degeneration (AMD) Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, UK, France, Japan - Size and Forecast 2024-2028

Age-related Macular Degeneration (AMD) Market Forecast 2024-2028 

The global age-related macular degeneration (AMD) market size is estimated to grow by USD 5.10 billion at a CAGR of 6.54% between 2023 and 2028.  The high prevalence of AMD is notably driving the market growth. Market characterization reveals a landscape heavily influenced by factors such as laser photocoagulation and the introduction of novel therapies like Etamsylate and Elamipretide. In addressing conditions like Retinopathy of Prematurity, advancements like RPESC-RPE-4W, MA09-hRPE, and CPCB-RPE1 are gaining prominence. Market forecasting underscores the need for innovative approaches like AAVCAGsCD59 to meet growing demands.

Amidst market growth analysis, gene therapy emerges as a pivotal trend, promising enhanced treatment efficacy. Thus, amidst challenges and opportunities, the market forecast suggests a dynamic landscape with evolving therapeutic interventions.

What will be the Size of the Age-related Macular Degeneration Market During the Forecast Period?

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Market Segmentation by Type, Distribution Channel, and Geography Analysis

Application Analysis

Wet AMD

The market share growth by the wet AMD segment will be significant during the forecast period. 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. 

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The wet AMD segment was valued at USD 10.19 billion in 2018. 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. Thus, such factors are expected to enhance the age-related macular degeneration therapeutics market growth during the forecast period.

Distribution Channel Analysis 

Hospital pharmacy

The hospital pharmacy segment is dominating the global age-related macular degeneration therapeutics market with the largest market share. Hospital pharmacies provide a dependable source of advanced and innovative AMD therapeutics, including a wide variety of medications. 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 age-related macular degeneration (AMD) 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 specialty pharmacy segment of the age-related macular degeneration market during the forecast period. 

Regional Analysis

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North America is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The market growth in North America is primarily attributed to the high prevalence of Age-related Macular Degeneration. Approximately 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 Age-related Macular Degeneration are 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 Age-related Macular Degeneration. 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. Hence, such factors are expected to drive age-related macular degeneration market growth in this region during the forecast period. 

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Key Market Players 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Bayer AG: The company offers age-related macular degeneration therapeutics for the treatment of eye check up to get the formation of new blood vessels.

• AbbVie Inc.
• Adverum Biotechnologies Inc.
• Alimera Sciences Inc.
• Alkeus Pharmaceuticals Inc
• Amgen Inc.
• Apellis Pharmaceuticals Inc.
• Bausch Health Companies Inc.
• Bio Thera Bio Pharmaceutical Co. Ltd.
• Biocon 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.
• Xbrane Biopharma AB

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Dynamics and Customer Landscape

The escalating prevalence of AMD stands as a driving force for market growth, impacting both wet and dry AMD cases. Regeneron's Eylea and Lucentis, along with Ranibizumab, represent prominent treatments targeting VEGF in wet Age-related Macular Degeneration management. However, unmet needs persist, necessitating pipeline drugs like OPT-302, KSI-301, and RGX-314 for robust disease management. The demand for novel therapeutics is underscored by the abnormal endothelial growth factor's role in neovascularization. Business possibilities hinge on pipeline valuation analysis, with companies like ALK-001 exploring innovative approaches.

Despite current treatments, challenges persist in addressing dry AMD, urging exploration into Danicopan and ALXN2040. Lifestyle changes and vitamin supplements remain adjunctive to AMD-management, particularly in the geriatric population, necessitating heightened awareness and diagnostic protocols. 

Key Market Drivers

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.

Moreover, 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 high prevalence, coupled with the huge unmet medical need for dry Age-related Macular Degeneration, is expected to drive market growth during the forecast period.

Significant Market Trends

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. 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 market during the forecast period.

Major Market Challenges

The lack of approved therapies for dry AMD is the major challenge impeding the 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 Market Customer Landscape

The market report includes the adoption lifecycle of the 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

Market Analyst Overview

The Age-related Macular Degeneration Market presents diverse treatment options to manage this prevalent eye condition affecting the aging world population. Current therapies like anti-VEGF intravitreal injections and photodynamic therapy (PDT) target abnormal endothelial growth factors, mitigating neovascular manifestations.

However, unmet needs persist, prompting the exploration of novel treatments such as Ranibizumab, KSI-301, and Danicopan to address evolving symptoms and enhance disease management. Moreover, pipeline drugs like ALXN2040 and Susvimo offer promising avenues for market growth and forecasting.

Pipeline valuation analysis and strategic competitor assessment play vital roles in understanding the therapeutics market revenue and cost of therapy per patient. Additionally, advancements in clinical trial mapping and mechanisms of action shed light on emerging options like Zimura and Visomitin.

Combining vitamin supplements with lifestyle changes further complements anti-VEGF therapy efficacy, aligning with World Health Organization recommendations. As market research and growth indicate, collaborations between retail pharmacy outlets and healthcare entities like NPCB&VI are instrumental in addressing associated conditions like glaucoma and diabetic retinopathy.

In essence, the Age-related Macular Degeneration Market holds immense business possibilities driven by a comprehensive understanding of epidemiology, diagnosis, and treatment usage patterns, propelling advancements like Risuteganib and OpRegen towards fulfilling market needs.

Segment Overview

The age-related macular degeneration market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

• Type Outlook
  • Wet-AMD
  • Dry-AMD

• Distribution Channel Outlook
  • Hospital Pharmacy
  • Specialty Pharmacy
  • Online Pharmacy

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World (ROW)
    • Brazil
    • Argentina
    • Australia

Age-related Macular Degeneration Market Scope
Report Coverage	Details
Page number	158
Base year	2023
Historic period	2018 - 2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 6.54%
Market growth 2024-2028	USD 5.10 billion
Market structure	Fragmented
YoY growth 2023-2024(%)	5.61
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 44%
Key countries	US, Germany, UK, France, and Japan
Competitive landscape	Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks
Key companies profiled	AbbVie Inc., Adverum Biotechnologies Inc., Alimera Sciences Inc., Alkeus Pharmaceuticals Inc., Amgen Inc., Apellis Pharmaceuticals Inc., Bausch Health Companies Inc., Bayer AG, Bio Thera Bio Pharmaceutical Co. Ltd., Biocon 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
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
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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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2024 and 2028
• Precise estimation of the size of the age-related macular degeneration market size and its contribution of the market in focus to the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market industry across North America, Europe, Asia, and Rest of World (ROW)
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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