Age Related Macular Degeneration (AMD) Market Expected to Reach $15.4 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Age Related Macular Degeneration (AMD) Market," The age-related macular degeneration (AMD) market size 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 disease that affects the macula, a part of the retina responsible for central vision. The cells in the macula become damaged and begin to die, causing vision loss as a person age. The disease is typically categorized into two types: dry AMD and wet AMD. Dry AMD is more common and involves the formation of small, yellow deposits in the macula, while wet AMD is less common and involves the growth of abnormal blood vessels beneath the macula.

In dry AMD, treatment options include vitamin supplements and lifestyle changes to reduce risk factors. In wet AMD, treatment involves medications that are injected into the eye to stop the growth of abnormal blood vessels. This treatment is called anti-vascular endothelial growth factor (anti-VEGF) therapy, and it works by blocking the protein that stimulates the growth of abnormal blood vessels.

The AMD market has gained significant traction in the recent past, owing to the increase in the prevalence of age-related macular degeneration. For instance, according to 2022 report by the National Library of Medicine, 200 million people worldwide are estimated to have age-related macular degeneration (AMD), and by 2040, this number is projected to reach to 300 million.

In addition, several age-related macular degeneration (AMD) market trends such as rise in government initiatives such as promoting research and development activities, increasing awareness, and providing funding for age-related macular degeneration (AMD) treatment further boosts the growth of the age-related macular Degeneration industry.

Furthermore, comprehensive age-related macular degeneration (AMD) market analysis reveals increase in the geriatric population, surge in demand for effective treatment options, and technological advancement drives the growth of age-related macular degeneration industry. For instance, according to the 2022 factsheet of World Health Organization, by 2030, 1 in 6 people in the world is projected to be aged 60 years or over. By 2050, the world population of people aged 60 years and older is projected to be 2.1 billion. The number of people aged 80 years or older is expected to reach 426 million by 2050. Thus the growth of aging population is anticipated to act as significant driver further boosting age-related macular degeneration (AMD) market size

However, the high cost associated with age-related macular degeneration drugs is projected to impede AMD market growth in the upcoming years. Contrarily, the age-related macular degeneration (AMD) market share is anticipated to witness significant growth in the near future, fueled by heightened research and development efforts in age-related macular degeneration treatment, as well as the recent approvals of innovative products, creating lucrative opportunities.

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).

On the basis of drug type, the age-related macular degeneration (AMD) market is divided into aflibercept, ranibizumab, and others. The aflibercept -segment accounted for the largest share in 2022 and is also expected to remain dominant during the forecast period, owing to the rise in the adoption of aflibercept drugs for the treatment of age-related macular degeneration (AMD) across the world drives the growth of the market.

On the basis of disease type, the age-related macular degeneration (AMD) market is bifurcated into dry age-related macular degeneration (AMD) and wet age-related macular degeneration (AMD). wet age-related macular degeneration (AMD) occupies the highest share in 2022 owing to the rise in the prevalence of wet age-related macular degeneration (AMD) among elderly population drives the growth of the market.

On the basis of distribution channels, the market is divided into hospital pharmacy, retail pharmacy and online pharmacy. Hospital pharmacy occupied the highest share in 2022 owing to increase in sales of prescription age-related macular degeneration (AMD) drugs from hospital pharmacy drives the growth of the market.    

On the basis of region, North America is expected to witness the highest growth, in terms of revenue, owing to an increase in cases of age-related macular degeneration market (AMD), robust healthcare infrastructure, presence of key players, and rise in healthcare expenditure. However, Asia-Pacific is anticipated to witness notable growth, owing to an increase in investments for the development of treatment options for age-related macular degeneration and a rise in the number of key players, driving the growth age-related macular degeneration (AMD) market share

Key findings of the study

• 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 (AMD) 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 hospital pharmacy segment was the 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.