Age-related Macular Degeneration Market

Age-related Macular Degeneration Market Outlook (2022-2032)

The global age-related macular degeneration market reached a valuation of US$ 11 Billion by 2022. Furthermore, across the 2022-2032 period of assessment, growth is expected to accelerate at a whopping 6.2% CAGR, reaching US$ 20 Billion.

Age-related macular degeneration (AMD), often known as macular degeneration is a disorder that causes loss of central vision owing to thinning of the retina's macula. Age-related macular degeneration is more common in the elderly population and can result in irreversible visual loss in persons over the age of 60.

Dry age-related macular degeneration (Dry AMD) and wet age-related macular degeneration (Wet AMD) are the two kinds of age-related macular degeneration (wet AMD). The most prevalent kind of macular degeneration is dry age-related macular degeneration, in which the macula thins with age, resulting in loss of central vision.

Dry age-related macular degeneration does not have a therapy. Wet age-related macular degeneration is a less frequent kind in which aberrant blood vessels develop underneath the retina. Anti-vascular endothelial growth factor (anti-VEGF) injections can be used to treat wet age-related macular degeneration.

AMD is a leading cause of visual loss among the elderly in the United States. The growing senior population in the United States and other nations is predicted to considerably increase the prevalence of AMD in the coming years.

Report Attributes	Details
Expected Market Value (2022)	US$ 11 Billion
Projected Forecast Value (2032)	US$ 20 Billion
Global Growth Rate (2022-2032)	6.2% CAGR
Prominent Service Players	F. Hoffmann-La Roche Ltd. Novartis AG Bayer AG Pfizer Inc. Bausch Health Companies Inc. Regeneron Pharmaceuticals Inc. Amgen Inc. Biogen Samsung Bioepis

2017-2022 Revenue Analysis of Age-related Macular Degeneration Market vs. Growth Outlook 2022-2032

The global market for Age-related Macular Degeneration expanded at under 5.7% CAGR from 2017 to 2021.

The global market for AMD is being driven by an increase in the number of AMD patients. According to the American Academy of Ophthalmology, about 11 million people in the United States suffer from AMD, and the prevalence of AMD is particularly high in Southeast Asian and Sub-Saharan African nations due to vitamin A insufficiency.

Another key driver for the age-related macular degeneration market is the expansion of reimbursement benefits for AMD medications. Medicare established a National Reimbursement Rate in the United States based on the regular cost of the medicine.

In this case, the agency covers about 80% of the cost of bevacizumab and ranibizumab injections, with the remaining 20% co-paid. Medicare Part B is a medical insurance that covers eye disorders and diagnostic testing, as well as particular treatment conditions such as AMD. The AMD market has several key obstacles, including a shortage of skilled ophthalmologists, high medication costs for wet AMD, and the related high risk.

Based on the aforementioned trends, the global market Age-related Macular Degeneration is poised to surge at a 6.2% CAGR, reaching US$ 20 Billion by 2032.

Key Market Drivers Influencing Age-related Macular Degeneration Industry Expansion

Increasing Government Healthcare Spending to Foster Market Growth Prospects

Increasing government healthcare spending to lessen patient healthcare burden is one of the main growth factors for the age-related macular degeneration market. Globally, the healthcare burden has grown significantly and has become a serious problem for both patients and healthcare professionals. Some of the causes contributing to increased healthcare expenditures are the high cost of modern treatment technologies and rising physician fees.

As a result, governments in several nations have raised total healthcare spending in order to improve access to cheap treatment alternatives. Hence, global market growth is being supported.

Furthermore, an enormous pipeline of AMD medications is a major driver of the age-related macular degeneration industry. Although there are currently few therapeutic options for AMD, prominent industry participants are focusing on developing medications for this indication in order to satisfy the rising unmet medical requirements of people suffering from the condition.

Key Challenges encountered by Age-related Macular Degeneration Industry

Growing Off-Label Usage of Medications for the Treatment of AMD to Hamper the Market Growth

The growing off-label usage of medications for the treatment of AMD is stifling the expansion of the age-related macular degeneration industry. Off-label drug usage is using a medicine that has not been approved by the US Food and Drug Administration for a different ailment or medical condition, in a different method or dose (USFDA).

For example, ophthalmologists frequently utilize intraocular injections of Avastin (off-label) to treat AMD rather than the more costly Lucentis, because the two medications have similar effects.

Country-wise Analysis

How will the U.S Perform in the Global Age-related Macular Degeneration Industry Landscape?

Product Approvals and Releases of Novel Age-Related Macular Degeneration Therapy Treatments to Boost the Market Growth

Because of product approvals and releases of novel age-related macular degeneration therapy treatments in the area, North America accounted for the greatest market share in 2021.

For example, Novartis got Food and Drug Administration (FDA) clearance in October 2019 for Beovu (brolucizumab) injection for the treatment of wet age-related macular degeneration (AMD).

Furthermore, in August 2018, Regeneron Pharmaceuticals, Inc. gained FDA clearance for a supplement Biologics License Application (sBLA) for EYLEA injection for the treatment of wet age-related macular degeneration (wet AMD).

Furthermore, several mergers, collaborations, and acquisitions by industry participants are likely to boost market expansion throughout the projection period.

For example, Boehringer Ingelheim entered into a co-development and license agreement with Inflammasome Therapeutics Inc. in September 2019 to develop three therapies for patients suffering from retinal diseases such as age-related macular degeneration (AMD), diabetic retinopathy (DR), and diabetic macular edoema (DME). The collaboration is intended to boost Boehringer Ingelheim's eye disease pipeline portfolio.

How will the Growth of Age-related Macular Degeneration Market Escalate across China?

Rising Prevalence of Eye Illness to Enhance the Market Prospects

Growing healthcare spending, rising prevalence of eye illness, and the development of multinational organisations are likely to drive growth in the Asia-Pacific age-related macular degeneration market. The region's large elderly population and illness burden are important drivers to its fast growth. Government measures that make pricey anti-VEGF medications more available to the general population may help drive market growth.

Country-wise Forecast CAGRs for the Age-related Macular Degeneration Market

Country	CAGR
U.K	5.7%
India	5.5%
South Korea	5%
China	5.9%
U.S	6%

Category-wise Insights

Which is the Most Sought-after Product Category?

The Eylea Segment to Boost the Market’s Growth

Over the assessment period, the eylea category dominated the market. This supremacy is due to extensive market penetration and patent protection. Furthermore, Beovu patients reported four times greater intraocular inflammation than Eylea patients, according to study investigations. Such variables favor Eylea over the experimental medication Beovu.

Lucentis is predicted to have the biggest market share in the next years, followed by Eylea, due to factors such as the introduction of a new drug delivery method. Susvimo, a refillable implant for Lucentis, was approved by the US Food and Drug Administration in October 2021. Susvimo requires ranibizumab refills every six months. This reduces the frequency of administration, answering a patient's unmet demand.

Which Segment to Remain Dominant in the Distribution Channel Category?

The Hospital Pharmacy Segment to Enhance Growth Prospects

During the forecast period, the hospital pharmacy sector dominated the global market. The growth in the prevalence of age-related macular degeneration (AMD) and hospitalization for treatment can be linked to this dominance.

The Royal National Institute of Blind People (RNIB) estimated that around 25.3 million people were at high risk of developing age-related macular degeneration (AMD) in 2020. The majority of patients are treated with drugs such as Lucentis, Eylea, and Beovu, which are administered intravenously in hospitals under the supervision of competent specialists.

As a result, rising demand for AMD treatment is expected to boost hospital visits, propelling the market.

Age-related Macular Degeneration Market- Competitive Landscape

Prominent players in the Age-related Macular Degeneration Industry are taking advantage of the rapidly increasing demand for the Age-related Macular Degeneration in various applications. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale vendors. Some prominent market developments are as follows :

• In November 2022, Bayer announced today the acquisition of Targenomix, a German biotech start-up. The Max Planck Institute for Molecular Plant Physiology (MPI MPP) spin-off identifies new mechanisms of action for crop protection chemicals using modern systems biology and computational life science technologies. Targenomix's expertise, personnel, and platforms will be critical in delivering on Bayer's commitment to the design of safe and effective molecules, as well as in accelerating the discovery and development of molecules with the potential to make agricultural production more sustainable in the face of dynamic challenges such as climate change and increasing weed, disease, and insect resistance.

Key Segments Covered in the Age-related Macular Degeneration Industry Survey

• By Product :

  • Eylea
  • Lucentis
  • Beovu
  • Others

• By Disease Type :

  • Dry AMD
  • Wet AMD

• By Distribution Channel :

  • Hospital Pharmacy
  • Specialty Pharmacy
  • Online Pharmacy

• By Region :

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa