Age-Related Macular Degeneration Market Analysis And Growth Forecast 2024-2032

Global Age-Related Macular Degeneration Market Analysis

The Global Age-Related Macular Degeneration (AMD) Market is projected to reach US$ 19.53 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.94% from 2024 to 2032. In 2023, the market size was estimated at US$ 10.68 billion. This growth is driven by an aging global population that is more susceptible to AMD, along with various risk factors such as genetic predisposition, high blood pressure, smoking, prolonged exposure to blue light, obesity, and poor dietary habits.

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Market Outlook: Rising Prevalence of AMD

Age-Related Macular Degeneration (AMD) is a progressive eye condition that affects the macula, the central part of the retina, and leads to loss of central vision. Central vision is essential for activities like reading, driving, recognizing faces, and perceiving color. AMD progresses in two primary forms: wet AMD (neovascular or exudative) and dry AMD (atrophic or non-neovascular).

According to the World Health Organization (WHO), AMD affected approximately 196 million people worldwide in 2020, a number that is expected to rise to 288 million by 2040. About 10.4 million people suffer from moderate to severe vision impairment due to AMD. The increase in the aging population, particularly in developed nations, is contributing to a growing number of individuals at risk, making the demand for AMD treatments more urgent.

Market Size and Growth Drivers

1. Aging Population

One of the primary factors driving the growth of the AMD market is the increasing global aging population. Age is the most significant risk factor for developing AMD, with people over 50 being particularly vulnerable. The growing elderly population, especially in developed regions, is contributing to the rising prevalence of AMD. This demographic shift is creating a greater need for diagnostic tools, therapies, and long-term care for AMD patients.

2. Technological Advancements

Advancements in diagnostic technology have revolutionized the way AMD is detected and managed. Tools like optical coherence tomography (OCT) and fundus imaging have made it possible to accurately diagnose, monitor, and track AMD progression. These technologies enable early intervention, which can slow the progression of the disease and preserve vision.

In terms of treatment, anti-VEGF therapies, such as ranibizumab, aflibercept, and bevacizumab, have had a significant impact on the management of wet AMD. These therapies work by inhibiting the vascular endothelial growth factor (VEGF), which is responsible for the abnormal growth of blood vessels in the retina that causes vision loss.

Additionally, gene therapies and regenerative medicine offer new opportunities for personalized and more effective treatments for AMD. The development of these therapies broadens the spectrum of options available for patients, improving outcomes and expanding treatment options for both dry and wet AMD.

3. Rising Risk Factors

Several risk factors are contributing to the increasing incidence of AMD. These include genetic predisposition, smoking, high blood pressure, prolonged exposure to blue light, obesity, and poor dietary habits. Modern lifestyles, which often involve excessive screen time and unhealthy eating, are exacerbating these risk factors, further driving the prevalence of AMD.

4. Awareness and Screening

With increasing awareness of AMD, many health organizations and governments are promoting early screening for individuals over 50. Early detection is crucial for managing the condition and preventing vision loss. The American Macular Degeneration Foundation (AMDF) and other organizations are actively working to educate both healthcare providers and patients about the importance of early diagnosis and treatment.

Regional Insights: North America Leading the Market

The North American market for AMD is the largest, with the United States being the key player. The growth in this region can be attributed to the increasing number of elderly individuals suffering from AMD, the presence of major pharmaceutical companies, and the availability of advanced treatment options.

In the United States, about 1.5 million people suffer from advanced or late-stage AMD, while 18.3 million people have early-stage AMD. The incidence of AMD increases significantly with age, with 30% of Americans over 80 having early AMD, and 10% having late AMD. The market is supported by strong demand for treatments and ongoing research into new therapies. However, the high cost of treatments and disparities in access to care present ongoing challenges.

Competitive Landscape: Key Players in the AMD Market

The AMD market is highly competitive, with numerous pharmaceutical companies involved in the development of treatments and therapies. Some of the leading players in the market include:

  • Hoffmann-La Roche Ltd.
  • Bayer AG
  • AbbVie
  • GSK Plc
  • Novartis AG
  • Regeneron Pharmaceuticals
  • Bausch Health Companies Inc.
  • Alimera Sciences Inc.

These companies are engaged in various research and development initiatives aimed at improving current treatments and discovering new ones. Additionally, collaborations and mergers between these companies are accelerating the pace of innovation in AMD therapies.

Recent Market Developments

The AMD market has seen several important developments in 2024, with new treatments and drug approvals expected to shape the future of the industry:

  • In March 2024, Roche Pharma India launched Vabysmo (faricimab), a dual-pathway inhibitor designed to treat both diabetic macular edema (DME) and wet AMD. This new medicine marks Roche’s first entry into the ophthalmology market and addresses two major retinal diseases.
  • In August 2024, Astellas Pharma received FDA approval for IZERVAY™ (avacincaptad pegol), a novel treatment for geographic atrophy (GA) secondary to AMD. This new drug demonstrated significant clinical efficacy in reducing the progression of GA, marking a major breakthrough in AMD treatment.

Challenges and Opportunities in the Market

Despite the promising growth prospects, the AMD market faces several challenges, including high treatment costs, access to care, and the complexity of early detection. However, the continuous advancement of diagnostic and therapeutic technologies presents opportunities for market players to overcome these challenges.

Emerging treatments, such as gene therapies and regenerative medicine, offer personalized approaches to AMD care, potentially leading to better outcomes for patients. Additionally, the increasing adoption of telemedicine and home-based monitoring tools could help address access issues and improve early diagnosis, which is crucial for better long-term outcomes.

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Age-Related Macular Degeneration Market will reach US$ 14.06 Billion in 2028

According to Renub Research latest report, “Age-Related Macular Degeneration (AMD) Market, Global Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis” Age-Related Macular Degeneration (AMD) Market is estimated to grow at a CAGR of 8.5% by 2028. Age-related Macular Degeneration is a disorder that causes a steady disintegration of cells in the center of the retina (AMD). It is widespread, and it causes a person to lose central vision. It is the major cause of vision loss in adults aged 50 and over. The wearing down of the macula and the development of the disease are classified as dry and moist. Both kinds are hazardous and need medical attention. Furthermore, the growing needs for therapy among the elderly increases the pote       ntial market for age-related macular degeneration. Age-related Macular Degeneration Industry was US$ 8.62 Billion in 2022.

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According to the WHO, in 2020, around 196 million people were suffering from age-related macular degeneration globally, including over 10.4 million moderate-to-severe vision impairment cases. The growth of the AMD market is primarily due to the increasing cases of age-related eye diseases, the rising elderly population, and the surge in investments in R&D activities. Moreover, the market grew due to the rise in the prevalence of this condition, the introduction of innovative treatments, a robust product pipeline, and advancements in gene therapies. Age-Related Macular Degeneration Market is estimated to reach US$ 14.06 Billion by 2028 driven by the rise in Eye-related disorders in the Elderly Population

An Increase in Pipeline Drugs for Dry AMD shall aid its Market Growth

Dry AMD accounts for 85-90% of all instances of macular degeneration. Vitamin formulations are now the sole therapeutic therapy for dry macular degeneration. Furthermore, numerous novel therapeutic options for its treatment, including Zimura, Luminate, and intravitrealpegcetacoplan, are now being evaluated in the medical community.

The surge in the Dry Age-related Macular Degeneration market is due to the growing older population and increasing prevalence of age-related macular degeneration, and the introduction of novel treatment methods for dry AMD combined with the increasing number of clinical trials focused on dry AMD. In addition, other factors, like increasing healthcare expenditure, will likely help the market grow.

Beovu will grow at the Fastest Rate over the Forecast period due to Patent Protection

The patent for EYLEA expires in 2023 in the United States and in 2025 in Europe, depending on the patent category. As a result, this aspect will contribute to the increase in demand for Beovu. Furthermore, factors such as improved drying effectiveness and success in treating severe cases of wet AMD will contribute to the market’s expansioBecause of its enormous market penetration, the Eylea category dominates. The FDA approved the intravitreal injection of aflibercept for Eylea in 2011. It prevents VEGF from functioning in wet AMD. As a result, it is used to treat diabetic macular edoema, wet AMD, and macular edoema.

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Hospitals are the main and Dominating Channel for Distribution

As per the Royal National Institute of Blind People (RNIB), around 26.5 Million people in 2021 were at high risk of developing this condition. Most patients’ treatment is through drugs, such as Eylea, Lucentis, and Beovu, administered intravenously in hospitals under the supervision of competent specialists. Thus, the rising demand for AMD treatment raises the number of hospital visits, fuelling the market of the hospital category.

 North America is the Industry leader due to the constant rise in the Geriatric Population

North America has supremacy over the market share and will sustain its dominance in the next few years. Some significant components driving the regional market include the increasing burden of the older population, the upsurge in the prevalence of this disease, the presence of influential market players, and the growing research and development activities in the region. Moreover, advantageous government initiatives, increased research partnerships, recent product launches, and a rise in cases of AMD will boost the regional market’s growth. For instance, according to the American Academy of Ophthalmology, around 15 million North Americans live with AMD.

Competitive Landscape:

Prominent companies competing currently in the Age-related Macular Degeneration Market Are F. Hoffman – La Roche Ltd., Bayer AG, Abbvie, GSK Plc., Novartis AG, Regeneron Pharmaceuticals, Bausch Health Companies, and Alimera Sciences Inc.

Market Summary:

Type – The Report covers Age-related Macular Degeneration (AMD) Market, by type in 2 viewpoints (Wet AMD, and Dry AMD).

Product – By Product, the Age-related Macular Degeneration (AMD) Market, breakup in 4 viewpoints (Eylea, Lucentis, Beovu, and Others).

Distribution Channel – Renub Research report covers by distribution channel in 3 viewpoints (Hospital Pharmacy, Specialty Pharmacy, and Online Pharmacy).

Region – The Age-related Macular Degeneration (AMD) Market by region breakup in 5 viewpoints (North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa).

Key Players- All the major players have been covered from 3 Viewpoints (Overview, Recent Developments, and Revenue) F. Hoffman – La Roche Ltd., Bayer AG, Abbvie, GSK Plc., Novartis AG, Regeneron Pharmaceuticals, Bausch Health Companies, and Alimera Sciences Inc.

 

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