Age-related Macular Degeneration Market size is expected to reach USD 105 Billion by the end of 2036, growing at a CAGR of 6% during the forecast period i.e., 2024-2036. In the year 2023, the industry size of age-related macular degeneration was USD 8 Billion. Age-related macular degeneration is a frequent disorder among the elderly population that progresses over time. The prevalence of age-related macular degeneration is on the rise worldwide, partly due to the expanding elderly population. Therapeutics to address the disease are thus in great demand. Taking advantage of this chance, pharmaceutical companies are concentrating on developing medications to cure age-related macular degeneration. At this point, there will be 1.4 billion people over the age of 60, up from 1 billion in 2020. The number of persons sixty years of age and older will quadruple globally by 2050. It is anticipated that between 2020 and 2050, the number of people 80 years of age or older will triple, reaching 426 million.
New therapeutic techniques, such as gene therapy and long-acting anti-VEGF injections, provide prospects for better patient convenience and better results. Advances in diagnostic imaging methods such as optical coherence tomography allow for earlier detection and intervention, which in turn improves therapy efficacy.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024 - 2036 |
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CAGR |
~6% |
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Base Year Market Size |
~USD 8 Billion |
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Forecast Year Market Size |
~USD 105 Billion |
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Regional Synopsis |
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Type (Wet AMD, Dry AMD)
In terms of type, the wet age-related macular degeneration market is anticipated to hold the highest CAGR of 80% during forecast period 2024-2036. Age-related macular degeneration is the beginning of the normal development of blood vessels below the retina. As AMD is the most common cause of significant loss of vision in people over the age of 50, the growing population around the world is creating a high level of demand in the market for wet age-related macular degeneration. In the next few years, East and Southeast Asia are expected to have the greatest increase of about 312 million people as indicated in the United Nations World Ageing Report 2019. In addition, approximately 200 million people over the age of 65 live in North America and Europe in 2019. These figures demonstrate that, all over the world, there will be a strong demand for therapies to treat age related macular degeneration in the future.
Application (Hospital, Clinic, Research Institute)
In terms of application, the hospital segment in the global age-related macular degeneration market is set to hold the highest CAGR of 60% by the end of 2036. The increase in the incidence of age-related macular degeneration and hospitalization for treatment may account for this dominant position. Various medicines, such as Lucentis, Eylea, and Beovu, administered intravenously under the supervision of experienced physicians in hospitals, are used to treat most patients. Therefore, hospital visits are expected to increase as a result of the growing demand for AMD treatment and this is likely to drive the market.
Our in-depth analysis of the global market includes the following segments:
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Type |
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Application |
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North American Market Forecasts
The age-related macular degeneration (AMD) market in the North America region is set to hold the largest market share of 35% by the end of 2036. The rising interest of critical market players and expanded investigation and improvement exercises are a few of the powers affecting age-related macular degeneration advertise development within the North American region. Moreover, the American Macular Degeneration Foundation within the Joined together States spread this data to caution AMD patients and eye care experts approximately the potential danger. Around the world, progressed AMD could be an essential cause of changeless visual deficiency and visual disability. As a result, the advertising is developing as AMD's load develops. Further, Wet age-related macular degeneration is one of the driving causes of visual misfortune in grown-ups over 65, concurring to the Canadian Ophthalmological Society. One of its considerations, discharged in 2019, anticipated that by 2032, at slightest one out of every four Canadians would have age-related macular degeneration. As a result of the previously mentioned components, the showcase within the locale is anticipated to be created altogether over the estimated period.
APAC Market Statistics
The age-related macular degeneration market in the Asia Pacific region is anticipated to hold a substantial market share during the projected period. Due to a lack of availability and the high cost of drugs, sales of exudatory AMD medicines in Asia Pacific are not yet significant. Moreover, there are relatively few companies involved in the marketing and research of exudate AMD medicines in Asia Pacific. In expansion, the locale accounts for more than a third of all age-related macular degeneration cases recorded all-inclusive hence request for damp AMD medicines is anticipated to extend drastically in the future for a long time.
Author Credits: Radhika Gupta, Shivam Bhutani
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