Age-Related Macular Degeneration Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2025 - 2032)

Age-Related Macular Degeneration Market Emerging Trends & Growth Drivers

Increasing Awareness of AMD among Consumers IS Key Trend

• The most-common cause of permanent vision loss is macular degeneration.
• Various initiatives, such as programs, activities, and campaigns, are implemented by NGOs, optometrist associations, and health departments, to create awareness among people regarding the effects of AMD and the correct methods of treatment.
• One such example is a major initiative taken at a global level in the form of National AMD awareness month; celebrated in February, in order to create awareness about the leading cause of vision loss and AMD.
• The main objective of the AMD month is to encourage people to learn more about AMD and raise awareness about symptoms, risk factors, and treatments.
• In addition, increasing funds, which are used for its research and related programs and encourage people for eye tests to improve chances of early detection, are driving the demand for macular degeneration drugs.

Rise in Age-Related Eye Disease Incidence due to Growing Elderly Population

• For the elderly, vision loss is a serious problem since it becomes worse with time. The two primary forms of macula wear and tear are dry macular degeneration and wet macular degeneration.
• Both have the potential to be fatal and needed medical attention; thus, the market is expanding as a result of an increasing number of aged patients.
• According to an article published on the NIH portal, over 200 million people around the world have AMD, and this number will increase to 300 million by 2040.
• Furthermore, a study says that the prevalence of AMD in the country is around 2% in the 40–59 years age group, compared to 30% in the age group of 70 years and above and 46% for people aged 85 and above.
• Moreover, untreated AMD is a major cause of irreversible blindness in those aged 60 and above.
• Currently, only a few numbers of medications are licensed to treat this disease, mostly by anti-VEGFs.
• These medications need frequent and uncomfortable intraocular injections, which enhance the strain and source non-adherence to therapy. Some of the major players are developing vitreous implants and longer-acting anti-VEGFs that allow for prolonged drug administration.
• Additionally, the launch of long-acting anti-VEGF drugs, including Vabysmo and Beovu, is expected to drive the market growth in the coming years.
• Moreover, with the WHO projecting the global population of people in the 60 and above age group to reach 2.1 billion by 2050, the market has an immense growth potential.

Stringent Regulatory Requirements Hamper Market Growth

• The field of regulatory requirements for pharmaceutical drugs including AMD drugs is vast and rapidly evolving.
• The safety, performance, and consistent quality of pharmaceutical products are necessary facets, which need stringent evaluation for international public health.
• All this necessitates the formulation and implementation of stringent and complex regulations, and standards for the global affiliation of pharmaceutical products.
• The commercialization and approval of pharmaceuticals is regulated by agencies such as the National Institutes of Health (NIH), Central Drugs Standard Control Organisation(CDSCO), Food and Drug Administration (FDA), and European Medicines Agency (EMA).
• The major role of the FDA is ensuring the safety and efficacy of human and veterinary drugs; and medical devices.
• It is also involved in the product and manufacturing establishment licensing, OTC and prescription drug labeling; and drug manufacturing standards, through the Center for Drug Evaluation and Research (CDER).
• Similar to the FDA, the major role of EMA is the protection of public and animal health by regulating medicines for human and veterinary use.
• Due to their stringent regulations and complex and long approval process, it can take over 10 years for a medicine to enter the market from the time the therapeutic agent was first conceptualized.
• Moreover, as per a study, 90% of the investigational drug candidates fail to get approval.
• Another study says that the success rate in the pharmaceutical approval process is merely 1 in up to 30,000 candidates.
• Although designed to ensure maximum safety and efficacy, such regulations hamper newer, cost-effective drugs from reaching patients.
• Another negative effect of this complexity is the off-label use of medications.
• Off-label is the usage of medication for a different disease or medical condition, given in different way and in different dose, which is not specified in the FDA’s approved packing label.
• Many ophthalmologists use intra-ocular injections of Avastin (off-label) to treat AMD over Lucentis, as the latter is expensive and both drugs have a similar effect.

Age-Related Macular Degeneration Market Segmentation Analysis

Drug Analysis

Eylea led the market, with a revenue share of 45%, in 2024, due to its widespread market penetration and patent protection. The FDA authorized Eylea, an intravitreal injection of aflibercept, in 2011. It is made to stop VEGF from working in wet AMD. Patients with diabetic macular edema, wet AMD, and macular edema are treated with it. Additionally, patients who received Beovu reported four times greater intraocular inflammation than those who received Eylea, according to study findings. Such elements encourage people to choose Eylea over Beovu, a revolutionary medication.

The demand for Beovu is projected to increase at the highest rate during the projection period, due to its higher drying effectiveness, patent protection, and success in treating severe cases of wet AMD. However, it has been discovered that the medication causes concurrent vascular occlusion, intraocular inflammation, retinal vasculitis, and vision loss. If the company does not come up with a creative strategy to prevent or decrease these negative reactions, the product's sales may suffer in the upcoming years.

We studied the following drugs:

• Lucentis
• Eylea (Largest Category)
• Beovu (Fastest-Growing Category)
• Others

Distribution Channel Analysis

The hospital pharmacy category accounted for a market share in 2024, of 55%. This is ascribed to the surge in the incidence of AMD and the increased number of patients in hospitals for its treatment. As per the Royal National Institute of Blind People (RNIB), over 26 million people are at high risk of developing this condition. Most cases are managed with drugs, such as Eylea, Lucentis, and Beovu, which are administered intravenously in hospitals under the supervision of competent specialists. Thus, the rising demand for AMD treatment is projected to raise the number of hospital visits, thereby propelling the market in this category.

The specialty pharmacy category will witness the fastest growth, on account of the complexity of AMD treatment and the need for skilled professionals to administer the biologics. Additionally, the disease requires patient education and regular monitoring, both of which are performed at specialty pharmacies. These places also offer personalized care and offer access to advanced medication.

These distribution channels have been considered:

• Hospital Pharmacy (Largest Category)
• Specialty Pharmacy (Fastest-Growing Category)
• Online Pharmacy

Age-Related Macular Degeneration Regional Market Performance

North America accounted for the largest revenue share, of 45%, in 2024, and it is projected to sustain its dominance in the next few years. Some of the key factors driving the regional market include the increasing burden of the geriatric population, the rising prevalence of this disease, the presence of major market players, and the increasing research and development activities in the region.

Furthermore, beneficial government initiatives, an increase in the number of research partnerships, recent product launches, and a rise in cases of AMD are projected to boost the growth of the regional market. According to estimates, around 20 million North Americans live with AMD, and 200,000 cases are diagnosed each year. Moreover, direct healthcare costs due to visual impairment caused by this condition in the U.S., Cuba, and Canada are over UDS 98 billion annually.

Additionally, the European market is expected to hold the second-largest share throughout the forecast period. This can be due to the rising purchasing power to buy patented drugs and large unmet needs in Europe. Moreover, enhancements in lifestyle and the introduction of new drugs for macular degeneration are projected to drive the need for macular degeneration drugs in the region.

APAC is the fastest-growing region, with an expected CAGR of 10%. This is attributed to the rising incidence of AMD, increasing awareness of it, and surging demand for effective treatment and management procedures. Further, people’s escalating disposable income allows them to visit ophthalmologists and buy the drugs they recommend.

The growing geriatric population is a direct driver for the market in the region, as AMD risk and severity is correlated with age. As per the World Economic Forum, Asia has the oldest population in the world, led by Hong Kong, Japan, and South Korea. Among them, Japan currently has the oldest population in the world, and the share of people aged 65 and above in its total population set to rise from 29.9% in 2022 to 37.5% in 2050. The projections for Hong Kong and South Korea are for 40.6% and 39.4% by mid-century, by which time they will have the oldest populations in the world, overtaking Japan.

Here is the regional breakdown of the market:

• North America (Largest Regional Market)
  • U.S. (Larger Country Market)
  • Canada (Faster-Growing Country Market)
• Europe
  • U.K. (Fastest-Growing Country Market)
  • Germany (Largest Country Market)
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia-Pacific (APAC) (Fastest-Growing Regional Market)
  • China (Largest Country Market)
  • India (Fastest-Growing Country Market)
  • Japan
  • South Korea
  • Australia
  • Rest of APAC
• Latin America (LATAM)
  • Brazil (Largest Country Market)
  • Mexico (Fastest-Growing Country Market)
  • Rest of LATAM
• Middle East and Africa (MEA)
  • Saudi Arabia (Largest Country Market)
  • South Africa
  • U.A.E. (Fastest-Growing Country Market)
  • Rest of MEA

Age-Related Macular Degeneration Market Share Analysis

The market is majorly consolidated as there is no approved cure for AMD. Only a handful of drugs are approved for treating/managing this condition, most of which are patent-protected. Additionally, companies engaged in R&D are mostly major pharmaceutical firms that operate globally and have enough technical prowess, financial resources, and lobbying capability to get approvals. Even then, there is a high chance that most of the investigational drugs fail the regulatory procedure and do not get approved. Such a complex regulatory system makes it almost impossible for new and weakly financed pharmaceutical companies to have any say, which essentially consolidates the market. Further, many of the drugs are jointly developed by the major players; for instance, Elyea, the widest-selling AMD drug, is a collaborative effort of Regeneron and Bayer.

Age-Related Macular Degeneration Market Developments

• In January 2025, Chinese researchers published the results of a clinical trial of a wearable electro-driven switch they developed that effectively delivers biologics to the fundus of the eye in a controlled and non-invasive manner. The enhanced penetration of anti-VEGF via the device resulted in an 86% inhibition of choroidal neovascularization, a common cause of wet AMD, in a mouse model.
• In December 2024, Bayer AG announced that its aflibercept 8 mg dug product has met the primary endpoints in a Phase III QUASAR study for retinal vein occlusion. Sold under the brand name Elyea and jointly developed by Bayer and Regeneron, the drug is already approved in over 50 countries for diabetic macular edema and wet age-related macular degeneration.
• In November 2024, a combined team of Dr. Allen and Charlotte Ginsburg Institute for Biomedical Therapeutics and Roski Eye Institute at the University of Southern California received a USD 6-million grant for two years from the California Institute for Regenerative Medicine to advance dry AMD treatment.