PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1702453
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1702453
The global age-related macular degeneration (AMD) market was valued at USD 11.7 billion in 2024 and is projected to reach USD 23.1 billion by 2032, growing at a compound annual growth rate (CAGR) of 9.0%. This growth is primarily driven by the increasing prevalence of age-related eye diseases, a growing geriatric population, and advancements in research and development activities aimed at finding innovative treatments. AMD, which leads to vision loss among the elderly, is pushing the demand for new therapies, including gene therapy and long-acting drugs. With a limited number of approved treatments and patents expiring for key drugs, the market presents significant opportunities for drug manufacturers and healthcare providers.
The increasing global awareness of AMD and its symptoms, coupled with a rise in funding for research and clinical trials, is boosting the demand for effective treatments. Furthermore, initiatives to improve early detection through regular eye exams are expected to support market growth.
Key Insights
The most significant driver of the AMD market is the rise in the elderly population, which is more susceptible to the condition. In the 60+ age group, the prevalence of AMD can reach up to 46%, with an increase in cases expected as global populations age. The market is also benefiting from heightened awareness of AMD due to various health initiatives, such as National AMD Awareness Month, which aims to raise awareness about the disease, its symptoms, and potential treatments.
Innovative treatment options, including long-acting anti-VEGF (vascular endothelial growth factor) drugs like Beovu and Vabysmo, are helping drive the growth of the market. These therapies are designed to reduce the frequency of intravitreal injections, offering a more convenient option for patients and improving treatment adherence. Gene therapies and improvements in delivery methods, such as vitreous implants, are also being developed to offer longer-lasting effects with fewer injections, contributing to the growth of the market.
Despite the growth potential, regulatory challenges remain a significant barrier to market expansion. The complex and stringent regulatory approval process for new drugs often leads to delays in market entry, and the high failure rate of investigational drugs further exacerbates these challenges. In addition, off-label drug use in AMD treatment, although controversial, adds complexity to the overall regulatory environment.
The market is also benefiting from a robust product pipeline, with several companies focusing on the development of innovative therapies for AMD. The increasing number of clinical trials and rising investments in gene therapy and anti-VEGF drugs are expected to significantly enhance the market's expansion over the next decade.
North America holds the largest share of the AMD market, driven by high healthcare expenditure, advanced healthcare infrastructure, and increasing awareness of age-related eye diseases. However, the Asia-Pacific region is expected to witness the fastest growth, owing to the expanding elderly population and rising healthcare investments in countries such as China and India.