Global Age-Related Macular Degeneration (AMD) Market - 2024-2031

Overview

The global age-related macular degeneration (AMD) market reached US$ 13.10 billion in 2023 and is expected to reach US$ 20.60 billion by 2031, growing at a CAGR of 5.82% during the forecast period 2024-2031.

Age-related macular degeneration (AMD) is a progressive eye disease that primarily affects individuals over the age of 50 and is one of the leading causes of vision loss in older adults. It specifically impacts the macula, the central part of the retina responsible for sharp, detailed central vision, which is necessary for tasks such as reading, driving and recognizing faces. AMD occurs when the macula deteriorates, leading to a loss of central vision while typically preserving peripheral vision. There are two main types of AMD such as dry AMD (non-exudative) and wet AMD (exudative).

The age-related macular degeneration (AMD) market has seen significant growth over the past few years and is poised for continued expansion. This growth is driven by factors such as an aging global population, increasing healthcare awareness, and advancements in treatment options. For instance, according to the BrightFocus Foundation, nearly 20 million people in the U.S. are living with some form of age-related macular degeneration.

Market Dynamics: Drivers & Restraints

Rising product development activities and market approvals

The rising product development activities and subsequent market approvals is a major driver for the growth of the age-related macular degeneration treatment market. In recent times, several new products and biosimilars have been approved and added to the available treatment options for AMD. These products are anticipated to generate sales

For instance, in August 2024, FDA approved Yesafili (aflibercept-jbvf) a biosimilar for EYLEA (aflibercept). Yesafili was developed by Biocon Biologics Ltd. With the intended application in neovascular AMD (wet AMD). Moreover, in May 2024, the U.S. FDA approved another biosimilar for EYLEA (aflibercept) called OPUVIZ (aflibercept-yszy) co-developed by Samsung Bioepis and Biogen. In September OPUVIZ received marketing authorization from the European Medicines Agency.

Several potential products are currently in the clinical pipeline, which can revolutionize the treatment market of AMD. For instance, in August 2024, the U.S. FDA granted Regenerative Medicine Advanced Therapy (RMAT) Designation for Ixo-vec for the Treatment of Wet AMD. Ixo-vec (ixoberogene soroparvovec) is a novel gene therapy being developed by Adverum Biotechnologies, Inc.

Complications and side effects of existing treatments

The market for age-related macular degeneration treatments faces significant restraints due to the complications and side effects associated with existing therapies. These issues often deter patients from opting for or continuing with treatment, impacting the overall market growth. Current treatments, particularly anti-VEGF (vascular endothelial growth factor) injections like ranibizumab (Lucentis) and aflibercept (Eylea), are widely used for managing wet age-related macular degeneration. However, these injections can lead to adverse effects such as eye inflammation, increased intraocular pressure, and in severe cases, endophthalmitis, a serious eye infection that can cause vision loss.

For instance, as with most drugs, some people can have an allergic reaction after an Eylea injection. Though rare, there were reports of this side effect in clinical trials of Eylea. Additionally, in rare cases, Eylea may increase the risk of getting a blood clot that can cause a stroke or heart attack. Stroke or heart attack was reported in clinical trials of Eylea for wet age-related macular degeneration and diabetic macular edema.

Despite regular treatment, patients may still experience a decline in vision, as current therapies primarily aim to manage symptoms rather than cure the disease. This lack of curative options, combined with the associated complications, results in patients and providers hesitating to rely solely on available treatments, thus dampening the overall age-related macular degeneration treatment market growth.

Segment Analysis

The global age-related macular degeneration (AMD) market is segmented based on type, treatment, patient type and region.

Treatment Type:

The anti-VEGF drugs segment is expected to dominate the global age-related macular degeneration (AMD) market share

The anti-VEGF drugs segment holds a major portion of the age-related macular degeneration (AMD) market share and is expected to continue to hold a significant portion of the market share over the forecast period. Anti-vascular endothelial growth factor (VEGF) drugs have evolved as a promising therapeutic agent for the treatment of age-related macular degeneration, especially for wet age-related macular degeneration. These are intravitreal injections that slow down the disease progression by blocking the activity of VEGF and reducing the formation of abnormal blood vessels.

These are several approved anti-VEGF drugs currently revolutionizing the treatment of age-related macular degeneration. The majority of these drugs are monoclonal antibodies and include Ranibizumab, Brolucizumab, Faricimab, Bevacizumab, etc. They are effective in reducing the newly forming vasculature during the early stages of age-related macular degeneration, thereby delaying the progression of central vision loss. This direct and selective inhibition of neovascularization is the major reason behind their therapeutic efficacy and increased adoption rate.

Moreover, these drugs are expensive and most of them are patent-protected. Manufacturers generate most of their revenue from sales of these products, which is another major contributing factor to their greater market share.

The novel therapies are also focused on this target mechanism, which reflects the segment's highest growth rate in the forecast period. For instance, AbbVie and REGENXBIO Inc. are combinedly to develop a novel one-time gene therapy that targets the VEGF pathway for the treatment of wet age-related macular degeneration. On October 21, 2024, REGENXBIO Inc. announced positive results of phase 2 clinical trials. The data was presented to the American Academy of Ophthalmology (AAO) and the results suggest that ABBV-RGX-314 has the potential to revolutionize the treatment paradigm of wet age-related macular degeneration.

The AREDS2 supplements segment is the fastest-growing segment in the age-related macular degeneration (AMD) market

The AREDS2 supplements segment is the fastest-growing in the age-related macular degeneration (AMD) market, primarily due to its proven efficacy in slowing the progression of the disease and its non-invasive approach, which appeals to patients.

For instance, according to the National Institute of Health, 2022, stated that, a new report, scientists analyzed 10 years of AREDS2 data. They show that the AREDS2 formula, which substituted antioxidants lutein and zeaxanthin for beta-carotene, not only reduces the risk of lung cancer due to beta-carotene but is also more effective at reducing the risk of AMD progression, compared to the original formula. At the end of the five-year AREDS2 study period, the researchers concluded that lutein and zeaxanthin did not increase the risk for lung cancer and that the new formation could reduce the risk of AMD progression by about 26%.

Additionally, Many healthcare professionals now recommend AREDS2 supplements as part of standard AMD management, especially for patients wary of the risks and discomfort associated with injections or other intensive treatments. For example, in the United States, brands like PreserVision AREDS 2 by Bausch + Lomb have gained popularity, and their reach is expanding in regions like Asia-Pacific and Europe. Thus above factors help to boost the region's growth.

North America is expected to hold a significant position in the global age-related macular degeneration (AMD) market

North America region is expected to hold the largest market share over the forecast period. North America is well known for its advanced healthcare industry. The higher expenditure on healthcare and rising awareness among people, advancement of technologies for Age-Related Macular Degeneration (AMD) treatment, and rising prevalence are the major contributing factors for the region's dominance.

For instance, in 2022, an epidemiology study published in the JAMA Ophthalmology Journal stated that the prevalent cases (above 40 years of age) of age-related macular degeneration in the U.S., were 18.34 million in 2019. For instance, according to the BrightFocus Foundation, nearly 20 million people in the U.S. are living with some form of age-related macular degeneration. This surge in patient population is expected to create a higher demand for advanced therapeutics. North America, especially the U.S., is at the forefront of developing these advanced therapeutics.

Moreover, the market players generate the majority of their product revenue from the North America region, especially from the U.S. For instance, in 2023, F. Hoffmann-La Roche Ltd generated approximately 2.6 billion USD for Vabysmo an anti-VEGF therapy indicated in AMD. The company has generated approximately 81% of its revenue from the United States. Moreover, Regeneron Pharmaceuticals Inc. has generated approximately 62% of the 9.2 USD billion revenue of Eylea from the United States. This reflects the region's dominating share in the global age-related macular degeneration (AMD) treatment market.

Asia Pacific is growing at the fastest pace in the age-related macular degeneration (AMD) market

The Asia-Pacific region is playing a vital role in boosting the age-related macular degeneration (AMD) market, driven by factors such as an aging population, increased healthcare access, and rising awareness about eye health. With a rapidly growing elderly population in countries like Japan, China, and South Korea, the prevalence of age-related macular degeneration is increasing, creating a substantial demand for effective treatments.

For instance, according to an article published in Nature, in 2021, estimated that, Globally, the prevalence of late-stage age-related macular degeneration is approximately 0.37%. In the Japanese population, the prevalence of early-stage AMD aged 50 years and above has been estimated to be 22.3% with a prevalence for nAMD of 0.52%. Notably, the prevalence of AMD significantly increases in the elderly, from 0.27% to 0.98% between 50-59 years and 70-74 years, with a similar age trend also confirmed on a global level.

Considering this increasing prevalence of age-related macular degeneration with increasing age implied that together with the growing elderly population in Asia, the predicted number of people with late-stage AMD is projected to increase by 86% from 2014 to 2040 (from 4.59 million in 2014 to 9.92 million in 2040).

Additionally, Governments across Asia-Pacific are also increasing healthcare funding and expanding insurance coverage, making treatments for chronic conditions like age-related macular degeneration more accessible to broader populations. In China, initiatives such as Healthy China 2030 focus on enhancing healthcare access and quality, which includes eye care for age-related diseases. This policy support is encouraging both local and international companies to invest in developing and distributing AMD treatments in the region, helping to drive market growth.

Competitive Landscape

The major global players in the age-related macular degeneration (AMD) market include F. Hoffmann-La Roche Ltd, Regeneron Pharmaceuticals Inc., Novartis AG, Apellis Pharmaceuticals, Inc., Astellas Pharma Inc., Biocon, Samsung Bioepis., Bausch + Lomb., Alcon Inc., Nature Made and among others.

Emerging Players

The emerging players in the age-related macular degeneration (AMD) market include Almirall, S.A, Aclaris Therapeutics Inc, Kiniksa Pharmaceuticals, Cara Therapeutics, VYNE Therapeutic and among others.

Key Developments

• In October 2024, Ocular Therapeutix, Inc. released accelerated timelines for the SOL-1 Phase 3 registrational clinical trial of AXPAXLI in wet age-related macular degeneration (wet AMD). The Company now expects the SOL-1 study to be fully enrolled with all patients randomized by the end of 2024. This is meaningfully ahead of prior guidance to complete enrollment by the end of the first quarter of 2025. With this update, topline data from the SOL-1 trial are expected during the fourth quarter of 2025.
• In March 2024, Roche Pharma India marked its foray into the ophthalmology space by launching Vabysmo (faricimab) for the treatment of neovascular or 'wet' age-related macular degeneration (nAMD) and diabetic macular edema (DME).

Why Purchase the Report?

• To visualize the global age-related macular degeneration (AMD) market segmentation based on type, treatment, patient type and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of the age-related macular degeneration (AMD) market with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping is available in excel consisting of key products of all the major players.

The global age-related macular degeneration (AMD) market report would provide approximately 62 tables, 51 figures and 197 pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies