Age-Related Macular Degeneration Market Set to Reach $15.4 Billion by 2032
Age-Related Macular Degeneration Market Growth ----
Understanding Age-Related Macular Degeneration
Age-related macular degeneration is a progressive eye disorder that primarily affects the macula—the part of the retina responsible for central vision. AMD gradually impairs the ability to read, drive, recognize faces, and perform tasks requiring sharp vision.
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There are two main types:
Dry AMD: The more common form, marked by the accumulation of yellow deposits (drusen) in the macula. Current treatment strategies focus on lifestyle modifications and vitamin supplements to slow progression.
Wet AMD: Less common but more severe, this form occurs when abnormal blood vessels grow beneath the macula. Treatment largely involves anti-VEGF therapy, in which drugs are injected into the eye to block vascular endothelial growth factor (VEGF), halting abnormal blood vessel growth and reducing vision loss.
With the world’s population aging rapidly, the prevalence of both dry and wet AMD is expected to rise sharply over the next two decades.
Market Dynamics
Rising Geriatric Population Driving Growth
One of the biggest factors fueling the AMD market is the global increase in the elderly population. According to the World Health Organization, 1 in 6 people worldwide will be aged 60 years or older by 2030, while by 2050, this figure will rise to 2.1 billion, with 426 million aged 80 years or older. As AMD risk increases significantly with age, this demographic trend directly supports market expansion.
Growing Adoption of AMD Drugs
The availability of effective treatments such as aflibercept and ranibizumab has improved patient outcomes, encouraging more widespread adoption. Moreover, the approval of new drug delivery mechanisms, such as Roche’s Susvimo implant for wet AMD in 2021, has further strengthened the therapeutic landscape.
Expanding Pipeline and Innovation
The AMD pipeline remains strong, with over 10 drugs in various stages of development. Phase II and III candidates such as ALK-001, Zimura, Elamipretide, and GT005 offer significant potential to transform AMD treatment, particularly for dry AMD, where unmet needs remain high. These developments are expected to provide lucrative opportunities for market players.
Cost Challenges
Despite progress, the high cost of AMD treatment is a barrier, especially in developing countries with limited insurance coverage. For instance, the average annual cost per patient exceeds $5,000, making access difficult for many. This challenge is expected to restrain growth in price-sensitive regions.
Impact of COVID-19
The COVID-19 pandemic disrupted AMD care worldwide. Routine checkups and treatments were delayed as eye clinics shut down or operated at reduced capacity, leading to progression of disease in some patients. Clinical trials for new therapies were also delayed as healthcare systems prioritized COVID-19. However, as healthcare systems stabilize and telemedicine adoption grows, the market is rebounding, with renewed focus on chronic disease management.
Segmental Insights
By Drug Type
Aflibercept held the largest market share in 2022, attributed to widespread adoption and proven clinical efficacy.
Ranibizumab and other emerging therapies are expected to contribute significantly to future market growth.
By Disease Type
Wet AMD accounted for the largest share in 2022 due to higher treatment adoption and availability of effective drugs.
Dry AMD, though currently underserved, presents the largest unmet medical need, creating opportunities for pipeline drugs under development.
By Distribution Channel
Hospital pharmacies dominate sales, as AMD drugs are typically prescribed and administered in clinical settings.
Retail and online pharmacies are gradually gaining ground as patient convenience and accessibility become priorities.
By Region
North America led the global market in 2022, supported by strong presence of key players such as Regeneron, Roche, and Novartis, as well as advanced healthcare infrastructure.
Europe is the second-largest market, driven by rising healthcare expenditure and aging demographics.
Asia-Pacific is expected to grow at the fastest rate during the forecast period, fueled by government blindness-prevention programs, rising awareness, and increasing investments in research.
LAMEA is witnessing gradual growth, although limited access to expensive therapies remains a challenge.
Competitive Landscape
Key players in the AMD market include:
Regeneron Pharmaceuticals Inc.
Novartis AG
F. Hoffmann-La Roche Ltd.
Bayer AG
Biogen
Apellis Pharmaceuticals
Bausch Health Companies Inc.
Coherus Biosciences Inc.
Sanofi
Ionis Pharmaceuticals Inc.
These companies are actively pursuing strategies such as product launches, regulatory approvals, mergers, and partnerships to strengthen their market position. For example, ongoing collaborations between biotech startups and major pharmaceutical firms are accelerating the development of innovative AMD therapies.
Future Outlook
The AMD market is poised for steady growth over the next decade, driven by demographic shifts, rising awareness, and scientific advancements. Key future trends include:
Shift toward sustained-release drug delivery systems (e.g., ocular implants) to reduce injection frequency.
Emerging gene and cell therapies that aim to restore or protect retinal function, potentially transforming long-term AMD management.
Greater focus on early diagnosis through advanced imaging technologies, enabling timely intervention before severe vision loss occurs.
Accessibility initiatives in developing countries, where untreated AMD still contributes significantly to blindness rates.
Conclusion
The age-related macular degeneration market is on a growth trajectory, projected to expand from $9.4 billion in 2022 to $15.4 billion by 2032. While high treatment costs remain a challenge, innovations in therapy, an expanding geriatric population, and strong pipeline activity promise sustained momentum. With pharmaceutical giants and emerging biotech firms actively developing novel therapies, the next decade may witness a transformation in AMD care—shifting from management of symptoms to long-term preservation of vision.
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Allied Market Research
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