Age-Related Macular Degeneration Treatment Market
Number of pages: 100 | Report Format: PDF | Published date: February 20, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
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Market size value in 2021 |
US$ 9.1 billion |
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Revenue forecast in 2030 |
US$ 17.44 billion |
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Growth Rate |
CAGR of 7.5% from 2022 to 2030 |
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Base year for estimation |
2021 |
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Forecast period |
2022-2030 |
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Historical Year |
2020 |
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Segments covered |
Product, Disease Type, Distribution Channel, and Region. |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global age-related macular degeneration treatment market was valued at US$ 9.1 billion in 2021 and is expected to register a revenue CAGR of 7.5% to reach US$ 17.44 billion by 2030.
Market Fundamentals
Age-related macular degeneration (AMD) is a progressive eye disease that affects the macula, a small part of the retina responsible for central vision. There are two main types of AMD: dry and wet. Dry AMD is the more common form and typically progresses slowly. At the same time, wet AMD is less common but more severe and can cause rapid and severe vision loss. Although there is no cure for AMD, several treatments available can help slow the progression of the disease and improve the quality of life for affected individuals. AMD treatment options include anti-VEGF drugs, photodynamic therapy, laser therapy, low vision aids, and dietary supplements. Anti-VEGF drugs are the most common treatment for AMD. These drugs work by blocking the growth of abnormal blood vessels in the retina, which cause vision loss. Photodynamic therapy treatment is used in some cases of wet AMD. A light-activated drug is injected into a vein, which is then activated by a laser to destroy the abnormal blood vessels in the retina. These treatments are usually tailored to the specific type and severity of AMD and may involve a combination of approaches.
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Market Dynamics
The rising geriatric population is the major driver of the global age-related macular degeneration treatment market. For instance, according to WHO’s October 2022 factsheet, all major countries are facing the problem of a vast geriatric population, and it is rising at a much faster pace than in the past. The factsheet also includes that by 2030, 1 in 6 people worldwide will be aged 60 years or above. The development of new treatments for age-related macular degeneration, such as anti-VEGF injections and photodynamic therapy, has significantly improved the prognosis for people with this condition and is also helping in the growth of the global age-related macular degeneration treatment market. The rise in the number of pipeline drugs for age-related macular degeneration, such as EG-301, KSI-301, OPT-302, and many more, fueling the growth of the global age-related macular degeneration treatment market. However, the high cost of treatment, limited accessibility, and side effects associated with the treatment are some of the restraints impeding the overall age-related macular degeneration treatment market growth.
Market Ecosystem
The global age-related macular degeneration treatment market is analyzed from four perspectives: product, disease type, distribution channel, and region.
Age-Related Macular Degeneration Treatment Market by Product
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Based on the product, the global age-related macular degeneration treatment market is segmented into Lucentis, Eylea, Beovu, and others.
The demand for Beovu is expected to be the fastest during the forecast period, attributed to positive treatment results in severe wet AMD cases and superior drying efficacy. Beovu (brolucizumab) is a newer anti-VEGF medication approved by the US Food and Drug Administration (FDA) in 2019 for treating wet AMD. It works by blocking the growth of abnormal blood vessels and reducing inflammation in the eye. Additionally, Beovu has been shown to have a longer duration of action than other anti-VEGF medications, which means that it may require less frequent injections Beovu is a smaller molecule than other anti-VEGF medications, which may allow for higher potency and better penetration into the retina. These factors contribute to the growth of the Beovu sales.
Age-Related Macular Degeneration Treatment Market by Disease Type
Based on the disease type, the global age-related macular degeneration treatment market is bifurcated into wet and dry age-related macular degeneration.
The wet age-related macular degeneration segment had the principal revenue share of the market in 2021, attributed to its rising prevalence. Wet age-related macular degeneration (AMD) is a more advanced and severe form of AMD. It occurs when abnormal blood vessels grow beneath the macula, causing leakage of fluid and blood, which damages the macula and leads to rapid vision loss. Wet AMD is typically characterized by sudden and noticeable changes in vision, such as seeing dark spots, blurry or distorted vision, and a loss of central vision. These changes can occur rapidly, often within days or weeks, and can lead to severe visual impairment if left untreated. These overall aspects contribute to the growth of the wet AMD segment.
Age-Related Macular Degeneration Treatment Market by Distribution Channel
Based on the distribution channel, the global age-related macular degeneration treatment market is segmented into hospital pharmacy, specialty pharmacy, and online pharmacy.
The hospital pharmacy segment dominated the market with the largest revenue share in 2021, owing to the rising prevalence of retinal disorders and hospitalization for treatment. In addition to medical treatments, hospitals may also offer supportive services to patients with age-related macular degeneration, such as low-vision rehabilitation services, which can help patients to adapt to changes in their vision and learn how to use adaptive devices and technologies to maintain their independence. The hospital segment for age-related macular degeneration is an important part of the overall management of the disease. It can play a critical role in helping patients to maintain their vision and quality of life as the disease progresses. Patients need to work closely with their eye doctor to develop a comprehensive treatment plan that meets their individual needs and goals. These overarching variables contribute to the hospital segment growth.
Age-Related Macular Degeneration Treatment Market by Region
Geographically, the global age-related macular degeneration treatment market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominated the global age-related macular degeneration treatment market with the largest revenue share in 2021, attributed to the increased frequency of eye problems, the growing senior population, and the availability of quality healthcare services. Additionally, major firms across the region are continuously involved in research & development to launch new and novel medication to treat age-related macular degeneration treatment which is also helping in regional growth. In October 2022, Outlook Therapeutics Inc. announced that the FDA approved its Biologics License Application (BLA) for bevacizumab-vikg (ONS-5010/Lytenava), an experimental ocular formulation of bevacizumab for the treatment of wet age-related macular degeneration (wet AMD). The FDA has established a Prescription Drug User Fee Act (PDUFA) goal date of August 29, 2023, and Bevacizumab-vikg is likely to obtain 12 years of regulatory exclusivity in the United States if approved. Bevacizumab-vikg is an experimental ophthalmic formulation of bevacizumab that is being developed as an intravitreal injection to treat wet AMD and other retinal disorders. When authorized, bevacizumab-vikg might eliminate the requirement for compounding pharmacies to employ unapproved repackaged oncologic IV bevacizumab to treat wet AMD.
Competitive Landscape
The prominent players operating in the global age-related macular degeneration treatment market are:
Strategic Developments
The estimated market size of the global age-related macular degeneration treatment market in 2030 is US$ 17.44 billion.
The revenue CAGR of the age-related macular degeneration treatment market during the forecast period will be 7.5% from 2022 to 2030.
The rise in the number of pipeline drugs, the development of new treatments, and the rising geriatric population are factors driving the growth of the global age-related macular degeneration treatment market.
The wet age-related macular degeneration segment dominates the age-related macular degeneration treatment market, due to the larger patient pool.
Some prominent players operating in the global age-related macular degeneration treatment market areF. Hoffmann-La Roche Ltd., Opthea, Kodiak Sciences Inc., Regeneron Pharmaceuticals, and IVERIC bio, Inc. among others
*Insights on financial performance are subject to the availability of information in the public domain