Global Age-Related Macular Degeneration Market Trends, Growth, Share, Outlook & Forecast

Age-related macular degeneration (AMD) is a prevalent eye condition, primarily affecting the elderly population, leading to progressive vision loss. As the global population ages, the incidence of AMD continues to rise, fueling growth in the associated healthcare markets. This blog post aims to explore the global AMD market in-depth, discussing its market share, size, growth trends, segments, and forecast, as well as the impact of the COVID-19 pandemic on the industry.

The global age-related macular degeneration (AMD) market stood at USD 2.04 billion in 2023 and is projected to reach USD 4.40 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 8.9% between 2024 and 2032.

1. Market Overview of Age-Related Macular Degeneration (AMD)

Age-related macular degeneration (AMD) is one of the leading causes of irreversible vision loss, particularly in individuals over the age of 50. AMD affects the macula, a part of the retina responsible for central vision, which is crucial for tasks like reading, recognising faces, and driving. There are two types of AMD: dry AMD and wet AMD, with the wet form being more severe and leading to faster vision loss.

1.1. Types of Age-Related Macular Degeneration

Dry AMD: This is the most common type of AMD, accounting for around 85-90% of cases. It involves the gradual breakdown of the macula, leading to slow vision loss.
Wet AMD: Though less common, wet AMD is more severe and causes rapid vision loss due to the growth of abnormal blood vessels in the retina.

Both types of AMD are age-related, with the risk increasing as people get older, especially after the age of 50. Additionally, genetics, lifestyle choices, and environmental factors, such as smoking and exposure to UV light, play a role in the development of AMD.

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2. Market Share and Size of AMD Treatment Industry

The AMD market is experiencing significant growth due to the increasing geriatric population, advancements in medical treatments, and rising awareness about eye health. In 2023, the global AMD market was valued at USD 2.04 billion. The market is expected to expand at a CAGR of 8.9% over the forecast period (2024-2032), reaching an estimated value of USD 4.40 billion by 2032.

2.1. Geographical Analysis of AMD Market Share

The global AMD market is geographically segmented into regions, each showing varying levels of growth, depending on demographic trends, healthcare infrastructure, and access to treatments.

North America: North America, especially the United States, is the largest market for AMD treatment due to a high prevalence of the disease, advanced healthcare systems, and rising awareness. The market in North America is expected to continue growing due to the expanding elderly population.
Europe: Europe also holds a significant share in the AMD market, driven by a large aging population and the increasing adoption of novel treatment therapies.
Asia Pacific: The Asia Pacific region is expected to witness the highest growth rate due to rapid urbanisation, improved healthcare access, and a rising number of elderly individuals.
Latin America and Middle East Africa: These regions are also seeing gradual growth, with increasing healthcare investments and growing awareness about eye care.

3. Key Market Trends in Age-Related Macular Degeneration

Several trends are shaping the AMD market as it grows and evolves. These trends include:

3.1. Rising Incidence of AMD

With the ageing global population, the prevalence of AMD is increasing. By 2050, it is estimated that over 288 million people will be affected by some form of AMD globally. This surge in incidence is a major driver of market growth as demand for treatments and diagnostic tools rises.

3.2. Advancements in AMD Treatment

Anti-VEGF Therapies: Anti-VEGF (vascular endothelial growth factor) therapies, including drugs like Lucentis and Eylea, have revolutionised the treatment of wet AMD. These treatments work by inhibiting the growth of abnormal blood vessels in the retina, slowing down the progression of the disease.
Gene Therapy: Emerging gene therapies offer the potential to treat the root causes of AMD, especially in cases of wet AMD. This is an exciting area of development that could change the landscape of AMD treatment in the coming years.
Stem Cell Therapy: Stem cell-based treatments are also being explored to repair damaged retinal tissue, with several clinical trials currently underway.

3.3. Increased Awareness and Diagnosis

Greater awareness about eye health and the importance of regular eye exams has led to early detection of AMD. Public health campaigns and initiatives aimed at encouraging people to seek regular eye screenings have contributed to increased diagnosis rates.

3.4. Digital Health and Telemedicine

With the rise of telemedicine and digital health solutions, patients now have easier access to consultations and monitoring. Digital tools and mobile apps are being developed to help individuals track their eye health and detect early signs of AMD, further boosting the market for early-stage interventions.

4. Factors Driving Market Growth

Several key factors are driving the growth of the AMD market:

4.1. Aging Population

As mentioned earlier, the global increase in the elderly population is one of the primary drivers of AMD market growth. By 2030, approximately 1.4 billion people will be aged 60 or older, with a significant portion of this group being at risk of developing AMD.

4.2. Technological Advancements in Treatment

Ongoing research and development in AMD treatment options, such as anti-VEGF injections, gene therapy, and novel pharmacological treatments, are expected to further enhance market growth.

4.3. Rising Healthcare Expenditure

Increased healthcare spending globally, particularly in emerging economies, is contributing to the growth of the AMD market. Access to advanced treatment options is improving, and healthcare infrastructure is being strengthened to cater to the growing number of AMD patients.

4.4. Government Initiatives

Governments around the world are implementing policies to address eye health, including funding for research and offering subsidies for treatments. This support is essential in making AMD therapies more accessible to the global population.

5. Impact of COVID-19 on the AMD Market

The COVID-19 pandemic had a significant impact on the healthcare sector, and the AMD market was no exception. The pandemic caused disruptions in healthcare systems worldwide, delaying appointments, diagnostic tests, and treatments for non-urgent conditions like AMD.

5.1. Disruption of Medical Services

During the height of the pandemic, many non-emergency procedures and treatments were postponed to prioritise COVID-19 care. This caused delays in AMD diagnosis and treatment, particularly for patients requiring injections or surgery. Many individuals with wet AMD, who rely on regular anti-VEGF injections, experienced treatment delays, leading to a worsening of their condition.

5.2. Telemedicine Adoption

The COVID-19 pandemic accelerated the adoption of telemedicine and virtual consultations. In the case of AMD, some patients were able to manage their condition remotely through virtual consultations with specialists. This shift in care delivery may continue to benefit the AMD market in the long term.

5.3. Delayed Clinical Trials

COVID-19 also led to delays in clinical trials for new AMD treatments. Many trials were put on hold or significantly slowed down due to lockdowns and restrictions on in-person visits. However, the resurgence of clinical trials in 2021 has re-energised the market, with promising treatments continuing to emerge.

5.4. Post-COVID Recovery

As healthcare systems gradually return to normal, the AMD market is expected to recover, with a surge in demand for treatments, diagnostic services, and ongoing care. The recovery phase will be marked by the re-initiation of delayed procedures and an increased emphasis on preventive care.

6. Market Segmentation and Forecast (2024-2032)

The global AMD market is segmented based on treatment type, diagnosis method, and region. Understanding these segments can provide a clearer picture of the market dynamics.

6.1. By Treatment Type

Anti-VEGF Therapy: This is the largest and fastest-growing segment in the AMD market. Anti-VEGF drugs are the first-line treatment for wet AMD and are expected to remain the primary therapeutic option.
Laser Therapy: Laser therapy is used for certain types of AMD, but it is being gradually replaced by anti-VEGF drugs in clinical practice.
Gene and Stem Cell Therapy: These emerging therapies hold the potential for significant market expansion. However, they are still in the experimental phase and may take several years to become mainstream.

6.2. By Diagnostic Method

Fundus Photography: This is the most commonly used diagnostic tool for detecting AMD, and it is expected to continue playing a significant role in the detection and monitoring of the disease.
Optical Coherence Tomography (OCT): OCT is increasingly being used for diagnosing and monitoring AMD, particularly in identifying early changes in the retina.

6.3. By Region

The AMD market is expected to grow in regions like North America, Europe, and Asia Pacific, driven by rising healthcare access and an ageing population. The Asia Pacific region is likely to experience the highest growth rate, followed by North America and Europe.

Market Outlook and Forecast: From 2024 to 2032, the AMD market is expected to continue its upward trajectory, driven by technological advancements, the increasing prevalence of AMD, and greater access to treatment options. With a projected market size of USD 4.40 billion by 2032, the industry will likely experience robust growth, particularly in emerging markets with rapidly aging populations.