Age-related Macular Degeneration Market: Current Analysis and Forecast (2024-2032)

Age-related macular degeneration (AMD) is a common eye condition and a leading cause of vision loss among people aged 50 and older. It affects the macula, the part of the retina responsible for sharp, central vision needed for activities like reading and driving. AMD progresses in two forms: dry (atrophic) and wet (neovascular). While the exact cause is unknown, it is primarily associated with aging, with risk factors including genetics, smoking, and cardiovascular health. The prevalence of AMD increases with age. For instance, as pe the data of the National Eye Institute (NEI), as of 2020, approximately 11 million people in the United States have some form of AMD, and this number is expected to double by 2050 due to the aging population.

The Age-related Macular Degeneration Market is expected to grow at a steady rate of around 7.5% owing to the rising prevalence of age-related macular degeneration, and an increasing geriatric population. Further, two major risk factors for AMD are cardiovascular disease and smoking. According to a 2021 study conducted by the Centers for Disease Control and Prevention (CDC), smokers had twice the risk of developing AMD compared to non-smokers. Additionally, a healthy lifestyle that includes regular exercise and a balanced diet might help reduce some of the risks related to AMD.

Based on the type, the market is segmented into Dry AMD and Wet AMD. Among these, the wet AMD category led the market. Over 10% to 15% of cases of macular degeneration-related visual loss worldwide are caused by AMD. The three main medications authorized for the treatment of wet age-related macular degeneration are Lucentis, Eylea, and Beovu. The U.S. FDA approved Novartis' long-acting anti-VEGF drug Beovu in October 2019. Due to the disease burden of dry AMD and the anticipated debut of viable product candidates by 2023, dry AMD is likely to expand at the highest rate during the projection period.

Based on the Product, the market is segmented into Eylea, Lucentis, Beovu, and Others. Within the market, the Eylea category led the market. Patent protection and significant market penetration are responsible for this domination. Furthermore, studies show that patients on Beovu reported four times higher levels of intraocular inflammation than those on Eylea. These elements favor Eylea's uptake over the innovative medication Beovu. Due to variables like the introduction of a novel drug delivery method, Lucentis is anticipated to hold the biggest market share over the next several years, followed by Eylea.

Based on the Distribution Channel, the market is segmented into Retail Pharmacy, Hospital Pharmacy, and Online Pharmacy. Within the market segment by distribution channel, hospital pharmacies emerge as the dominant segment. This predominance is largely attributed to the critical role hospitals play in providing comprehensive healthcare services, including medication management for inpatients and outpatients. Hospital pharmacies are integral in ensuring the timely and accurate dispensing of medications, tailored to individual patient needs, which enhances treatment outcomes and patient safety.

For a better understanding of the market adoption of Age-related Macular Degeneration, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is dominating the market in the current scenario of 2023. The rising incidence of AMD is responsible for this dominance. Approximately 15 million people in North America have AMD, according to the American Academy of Ophthalmology. In 2021, Europe accounted for the second-largest market share. This is because macular degeneration is very common in Europe and is predicted to increase by about 20% by the year 2050. Some of the major players operating in the market include Novartis AG, Bayer AG, Pfizer Inc., Bausch Health Companies Inc., Amgen Inc., Regeneron Pharmaceuticals Inc., Biogen, F. Hoffmann La Roche Ltd, Samsung Bioepis, and Outlook Therapeutics, Inc.