The age related macular degeneration market was valued at $10.0 billion in 2023 and is projected to reach $16.2 billion by 2033, growing at a CAGR of 5% from 2024 to 2033.
Age related macular degeneration is a visual impairment in which the central portion of the retina, known as macula, deteriorates. Beginning with slight blurred vision, the disease eventually leads to loss of central eyesight. There are two categories of the disease: dry (atrophic) and wet (neovascular). Gradual thinning of the macula occurs in dry macular degeneration, whereas wet macular degeneration happens due to abnormal growth of blood vessels under the retina.
Exponential increase in the aging population and rise in prevalence of the disease are the key drivers of the age related macular degeneration market. In addition, advancements in diagnostic techniques are leading to early detection and timely treatment of the disease, thereby augmenting the market development. In recent times, AI and deep learning are revolutionizing the landscape of age related macular degeneration diagnosis and treatment. The technology helps in precise detection of the eye condition and assesses the risk pertaining to the progression of the disease to advanced stages.
However, in case of disease advancement to high stages, treatment procedures exhibit limited to no efficacy, thereby restraining the growth of the age related macular degeneration market. Moreover, the high expense of purchasing medications essential for curing the disease, such as anti-vascular endothelial growth factor injections, constraints several patients from undergoing the treatment. This hampers the development of the market. According to an article published by the UK-based scientific journals publisher - BioMed Central - age related macular degeneration is one of the leading causes of vision loss and by 2040, the disease is anticipated to impact 288 million individuals.
Segment Review
The age related macular degeneration market is segmented into drug type, disease type, distribution channel, and region. On the basis of drug type, the market is divided into aflibercept, ranibizumab, and others. Depending on disease type, it is bifurcated into wet age related macular degeneration (AMD) and dry age related macular degeneration (AMD). As per distribution channel, it is classified into hospital pharmacy, retail pharmacy, and online pharmacy. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of drug type, the aflibercept segment dominates the age related macular degeneration market.
Depending on disease type, the wet age-related macular degeneration (AMD) segment acquires a significant share of the market.
As per distribution channel, the hospital pharmacy segment leads in the market.
Region wise, the market exhibits robust growth in North America.
Competition Analysis
The leading players operating in the global age related macular degeneration market include Regeneron Pharmaceuticals Inc., Novartis AG, F. Hoffmann-La Roche Ltd., Biogen, Bayer AG, Coherus Biosciences Inc, Sanofi, Apellis Pharmaceuticals, Bausch Health Companies Inc., and Ionis Pharmaceuticals, Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
Age related macular degeneration is a visual impairment in which the central portion of the retina, known as macula, deteriorates. Beginning with slight blurred vision, the disease eventually leads to loss of central eyesight. There are two categories of the disease: dry (atrophic) and wet (neovascular). Gradual thinning of the macula occurs in dry macular degeneration, whereas wet macular degeneration happens due to abnormal growth of blood vessels under the retina.
Exponential increase in the aging population and rise in prevalence of the disease are the key drivers of the age related macular degeneration market. In addition, advancements in diagnostic techniques are leading to early detection and timely treatment of the disease, thereby augmenting the market development. In recent times, AI and deep learning are revolutionizing the landscape of age related macular degeneration diagnosis and treatment. The technology helps in precise detection of the eye condition and assesses the risk pertaining to the progression of the disease to advanced stages.
However, in case of disease advancement to high stages, treatment procedures exhibit limited to no efficacy, thereby restraining the growth of the age related macular degeneration market. Moreover, the high expense of purchasing medications essential for curing the disease, such as anti-vascular endothelial growth factor injections, constraints several patients from undergoing the treatment. This hampers the development of the market. According to an article published by the UK-based scientific journals publisher - BioMed Central - age related macular degeneration is one of the leading causes of vision loss and by 2040, the disease is anticipated to impact 288 million individuals.
Segment Review
The age related macular degeneration market is segmented into drug type, disease type, distribution channel, and region. On the basis of drug type, the market is divided into aflibercept, ranibizumab, and others. Depending on disease type, it is bifurcated into wet age related macular degeneration (AMD) and dry age related macular degeneration (AMD). As per distribution channel, it is classified into hospital pharmacy, retail pharmacy, and online pharmacy. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of drug type, the aflibercept segment dominates the age related macular degeneration market.
Depending on disease type, the wet age-related macular degeneration (AMD) segment acquires a significant share of the market.
As per distribution channel, the hospital pharmacy segment leads in the market.
Region wise, the market exhibits robust growth in North America.
Competition Analysis
The leading players operating in the global age related macular degeneration market include Regeneron Pharmaceuticals Inc., Novartis AG, F. Hoffmann-La Roche Ltd., Biogen, Bayer AG, Coherus Biosciences Inc, Sanofi, Apellis Pharmaceuticals, Bausch Health Companies Inc., and Ionis Pharmaceuticals, Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
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Key Market Segments
By Drug Type
- Aflibercept
- Ranibizumab
- Others
By Disease Type
- Wet Age Related Macular Degeneration (AMD)
- Dry Age Related Macular Degeneration (AMD)
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA
- Regeneron Pharmaceuticals Inc.
- Novartis AG
- F. Hoffmann-La Roche Ltd.
- Biogen
- Bayer AG
- Coherus Biosciences Inc
- Sanofi
- Apellis Pharmaceuticals
- Bausch Health Companies Inc.
- Ionis Pharmaceuticals, Inc
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: AGE RELATED MACULAR DEGENERATION MARKET, BY DRUG TYPE
CHAPTER 5: AGE RELATED MACULAR DEGENERATION MARKET, BY DISEASE TYPE
CHAPTER 6: AGE RELATED MACULAR DEGENERATION MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: AGE RELATED MACULAR DEGENERATION MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to a new report, titled, 'Age Related Macular Degeneration (AMD) Market,' The age related macular degeneration (amd) market was valued at $9.4 billion in 2022, and is estimated to reach $15.4 billion by 2032, growing at a CAGR of 5% from 2023 to 2032.Age-related macular degeneration (AMD) is a progressive eye condition that affects the macula, the central part of the retina responsible for sharp central vision. While the exact cause of AMD is not fully understood, there are several factors that contribute to its development. The primary risk factor for AMD is advancing age. As individuals get older, the risk of developing AMD increases. Genetics also play a role, as certain gene variations have been associated with an increased susceptibility to AMD. Other risk factors include smoking, high blood pressure, obesity, and a diet low in antioxidants and omega-3 fatty acids. AMD is characterized by the accumulation of waste materials, such as drusen, in the macula. These deposits can lead to damage and deterioration of the macular cells, resulting in vision loss. The underlying mechanisms behind the formation of drusen and the subsequent cellular damage are still being studied. There are two main types of AMD dry AMD and wet AMD.
The key factors that drive the growth of age-related macular degeneration (AMD) market are increase in the geriatric population, rise in incidence AMD of and surge in demand for effective treatment options. The aging population is a significant driver of AMD market growth. As individuals grow older, the risk of developing AMD increases. The global population is experiencing a demographic shift, with a larger proportion of people reaching the age group susceptible to AMD. This increase in the elderly population directly translates to a higher prevalence of AMD cases. For instance, according to an article by World Health Organization (WHO) published in October 2022, it was estimated that 1 in 6 people in the world to be aged 60 years or over by 2040. In addition, the prevalence and incidence of AMD have been steadily rising in recent years, primarily due to various factors. One contributing factor is the prolonged life expectancy observed worldwide. As people live longer, the cumulative exposure to risk factors for AMD, such as oxidative stress, inflammation, and genetic predisposition, increases. Additionally, changing lifestyles, including unhealthy diets, sedentary behavior, and smoking, contribute to the rising incidence of AMD. Furthermore, the increasing prevalence of chronic diseases like diabetes, hypertension, and cardiovascular disease, which are risk factors for AMD, also adds to the burden of AMD cases. The combination of these factors leads to a larger population affected by AMD, driving the growth of the AMD market.
The market also offers growth opportunities to the key players in the market. The increase in the number of pipeline drugs targeting age-related macular degeneration (AMD) is indeed a major growth opportunity in AMD market. The development of new pipeline drugs offers expanded treatment options for AMD patients. Currently, the primary treatment for neovascular or 'wet' AMD involves anti-vascular endothelial growth factor (anti-VEGF) injections. However, not all patients respond optimally to these treatments, and some may experience a decline in effectiveness over time. The introduction of new drugs in the pipeline provides alternative mechanisms of action, such as targeting different angiogenic factors or inflammation pathways, which can potentially improve treatment outcomes and patient response rates. The availability of a wider range of treatment options enhances the overall management of AMD and contributes to market growth.
Moreover, several drug manufacturers are looking for novel treatments since age-related macular degeneration (AMD) becomes increasingly prevalent. More than 10 age-related macular degeneration (AMD) medications are in the pipeline at various stages of development, and multiple corporations are currently working on treatments for AMD. ALK-001, Etamsylate, Zimura, Visomitin, Elamipretide, Risuteganib, GT005, GEM1003, RPESC-RPE-4W, MA09-hRPE, CPCB-RPE1, OpRegen, AAVCAGsCD59, and more potential medications are in phases III and II.
Furthermore, significant advancements in diagnostic techniques, imaging technologies, and treatment modalities have greatly influenced the growth of the AMD market. Early detection and accurate monitoring of AMD are crucial for effective management and preservation of vision. Advanced imaging tools, such as optical coherence tomography (OCT), allow for high-resolution visualization of the retina, enabling ophthalmologists to detect and monitor early signs of AMD, such as drusen and retinal thinning. OCT has revolutionized the diagnosis and management of AMD, facilitating timely intervention and improving patient outcomes.
The age-related macular degeneration (AMD) market is segmented into drug type, disease type, distribution channels and region. On the basis of drug type, the market is categorized into aflibercept, ranibizumab and others. On the basis of disease type, the market is bifurcated into dry age-related macular degeneration (AMD) and wet age-related macular degeneration (AMD). On the basis of distribution channels, the market is segmented into hospital pharmacy, retail pharmacy and online pharmacy. On the basis of region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and Rest of LAMEA).
The key players profiled in the study include Regeneron Pharmaceuticals Inc., Novartis AG, F. Hoffmann-La Roche Ltd, Biogen, Bayer AG, Bausch Health Companies Inc, Coherus Biosciences Inc, Sanofi, Apellis Pharmaceuticals and Ionis Pharmaceuticals, Inc.
Key Market Insights
- On the basis of product type, the aflibercept segment was the highest contributor to the market in 2022.
- On the basis of disease type, the wet age-related macular degeneration segment dominated the market in terms of revenue in 2022. However, the dry Age-Related Macular Degeneration (AMD) segment is anticipated to grow at the highest CAGR during the forecast period.
- On the basis of distribution channel, the retail pharmacy segment was highest contributor to the market in 2022.
- On the basis of region, North America generated the largest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Companies Mentioned
Key Market Players in the Age Related Macular Degeneration Market include:- Regeneron Pharmaceuticals Inc.
- Novartis AG
- F. Hoffmann-La Roche Ltd.
- Biogen
- Bayer AG
- Coherus Biosciences Inc
- Sanofi
- Apellis Pharmaceuticals
- Bausch Health Companies Inc.
- Ionis Pharmaceuticals, Inc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 216 |
| Published | July 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 10 billion |
| Forecasted Market Value ( USD | $ 16.2 billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
