FactMR today released its latest report on the Age-related Macular Degeneration Market, providing comprehensive insights into the global market’s robust growth driven by rising prevalence of eye disorders, an aging population, and advancements in treatment options. Valued at USD 11 billion in 2022, the market is projected to grow at a compound annual growth rate (CAGR) of 6.2%, reaching USD 20 billion by 2032. This expansion underscores the critical role of AMD therapies in addressing vision loss among the elderly.

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Market Outlook and Growth Projections

The global age-related macular degeneration market is poised for significant growth from 2022 to 2032, fueled by increasing cases of AMD, a leading cause of vision loss in individuals over 60, and the development of innovative therapies. AMD affects the macula, the central part of the retina responsible for sharp vision, and is categorized into dry and wet forms. The report projects the market to grow from USD 11 billion in 2022 to USD 20 billion by 2032, with a CAGR of 6.2%. This growth is driven by rising healthcare spending, a robust pipeline of AMD drugs, and increasing awareness of eye health, creating substantial opportunities for pharmaceutical companies and healthcare providers.

Key Drivers Fueling Market Demand

The market’s growth is propelled by several key drivers. The rising prevalence of AMD, with over 200 million cases globally in 2023 and projections to reach 288 million by 2040, is a primary factor, driven by an aging population expected to reach 2 billion over 60 by 2050. Technological advancements, such as anti-vascular endothelial growth factor (anti-VEGF) therapies like Eylea and Lucentis, have revolutionized wet AMD treatment, reducing vision loss in 90% of cases. The report highlights increasing government healthcare spending, such as Medicare’s coverage of 80% of anti-VEGF injection costs in the U.S., and growing R&D investments as key growth catalysts. Additionally, improved diagnostic tools like optical coherence tomography (OCT) and rising awareness through initiatives like National AMD Awareness Month further drive demand.

Challenges and Restraints in the Sector

Despite its promising outlook, the market faces challenges. High treatment costs, with anti-VEGF injections like Lucentis costing USD 2,000 per dose, limit accessibility in low-income regions. The report notes a shortage of skilled ophthalmologists, particularly in developing countries, and the high risk of complications from frequent injections, with 4% of Beovu patients experiencing intraocular inflammation. Regulatory hurdles, such as the failure of drugs like lampalizumab in 2018 clinical trials, and patent expirations, like Lucentis in 2020, may hamper growth. Providers must address these challenges by developing cost-effective biosimilars, enhancing training programs, and improving access to affordable diagnostics to ensure broader adoption.

Segment-Wise Insights and Dominant Trends

The report provides detailed segmentation analysis, identifying Eylea as the leading product, generating USD 4.4 billion in 2023 due to its efficacy and FDA approval since 2011. Wet AMD dominates the disease type segment with a 98% revenue share in 2024, driven by the availability of anti-VEGF therapies, while dry AMD is the fastest-growing segment due to emerging therapies like Apellis’ APL-2 for geographic atrophy. Hospital pharmacies lead distribution channels with a 50% share, but online pharmacies are growing rapidly due to convenience. Key trends include the rise of gene therapies, with 10% of AMD cases progressing to wet AMD requiring advanced treatments, and the development of longer-acting anti-VEGF drugs like Vabysmo to reduce injection frequency. The report also notes increasing adoption of biosimilars, such as BYOOVIZ, approved in 2021 for wet AMD.

Regional Outlook and Growth Hotspots

North America holds the largest market share, with the U.S. contributing 92.1% of the region’s revenue in 2023, driven by high AMD prevalence (20 million cases), advanced healthcare systems, and initiatives like the NEI’s AMD Integrative Biology Initiative. Europe follows, with 67 million AMD cases and a projected 15% increase by 2050, led by Germany and the UK. The Asia-Pacific region is expected to exhibit the fastest growth, with a CAGR of 8%, fueled by rising healthcare investments, high disease burden, and increasing life expectancy in China and India. Latin America and the Middle East and Africa (MEA) are emerging markets, supported by improving access to diagnostics. The report identifies Asia-Pacific as a key growth engine due to its large geriatric population and growing adoption of advanced therapies.

Recent Developments

The market has seen significant advancements in recent years. In July 2024, Genentech reintroduced Susvimo, a ranibizumab ocular implant for wet AMD, enhancing treatment durability. In October 2022, Coherus BioSciences received FDA approval for CIMERLI, a biosimilar for wet AMD, improving affordability. Posts on X highlight experimental treatments like DMSO for macular degeneration, with 22 of 50 patients showing improved visual acuity, though results remain inconclusive. Additionally, Roche’s 2023 advancements in longer-acting anti-VEGF therapies, like brolucizumab, are reducing treatment frequency, supporting market growth. These developments reflect the market’s shift toward innovative and accessible solutions.

Key Players Insights

Leading players are driving innovation through R&D and strategic partnerships. Regeneron Pharmaceuticals, Inc. leads with Eylea, while F. Hoffmann-La Roche Ltd excels with Lucentis and Susvimo. Novartis AG and Bayer AG focus on Beovu and other anti-VEGF therapies, with Novartis launching brolucizumab for wet AMD. Other key players, including Pfizer Inc., Bausch Health Companies Inc., Biogen, Adverum Biotechnologies, Alkeus Pharmaceuticals, and Kodiak Sciences, are investing in gene therapies and biosimilars. Recent moves include Apellis Pharmaceuticals’ 2023 launch of APL-2 for dry AMD, addressing unmet needs. These companies are pursuing acquisitions, clinical trials, and regional expansion to meet growing demand, with strong growth projected through 2032.

Competitive Landscape

The market features a competitive ecosystem with key players driving innovation and market share. Companies profiled include Regeneron Pharmaceuticals, Inc., F. Hoffmann-La Roche Ltd, Novartis AG, Bayer AG, Pfizer Inc., Bausch Health Companies Inc., Biogen, Adverum Biotechnologies, Alkeus Pharmaceuticals, and Kodiak Sciences. These firms lead in developing anti-VEGF therapies, biosimilars, and gene therapies for AMD. The report includes a detailed competition dashboard, benchmarking, and market share analysis, highlighting strategies such as product innovation, mergers, and expansion into emerging markets. As the market evolves, these players are well-positioned to capitalize on opportunities in advanced therapeutics and diagnostics.

Strategic Recommendations and Future Implications

FactMR’s report offers actionable recommendations, urging stakeholders to invest in gene therapies, longer-acting anti-VEGF drugs, and affordable biosimilars to address unmet needs, particularly in dry AMD. Providers should expand training for ophthalmologists, enhance diagnostic access in emerging markets, and leverage digital platforms for patient education. The study includes value chain analysis, PESTLE factors, and SWOT assessments to support strategic decision-making. As AMD prevalence and healthcare investments rise, the market will remain critical for addressing vision loss, improving patient outcomes, and driving innovation in eye care globally.

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