The age-related macular degeneration market is witnessing significant growth, driven by the rising geriatric population, increasing prevalence of retinal disorders, and advancements in ophthalmic drug development. Valued at USD 10.46 billion in 2024, the market is projected to reach USD 26.40 billion by 2034, expanding at a CAGR of 9.70% during the forecast period (2025–2034).

Age-Related Macular Degeneration Market is a chronic eye disease that causes loss of central vision due to damage to the macula, the part of the retina responsible for sharp vision. With the aging global population and greater awareness of early eye disease diagnosis, the market is experiencing robust expansion, supported by increased healthcare spending and continuous research into innovative treatment options.

Overview of the Age-Related Macular Degeneration Market

AMD is categorized into two main types — wet AMD (neovascular) and dry AMD (atrophic). While dry AMD accounts for the majority of cases, wet AMD is responsible for severe vision loss and represents a substantial share of the treatment market due to the need for intensive drug therapy.

Rising incidences of AMD are linked to aging, genetic factors, smoking, obesity, and cardiovascular disease. According to ophthalmology studies, AMD is one of the leading causes of blindness among individuals aged 60 years and older. The growing availability of anti-VEGF therapies, which inhibit abnormal blood vessel growth in the retina, has revolutionized AMD management.

Age-Related Macular Degeneration Market Size and Share

The global age-related macular degeneration market reached USD 10.46 billion in 2024 and is expected to achieve USD 26.40 billion by 2034, growing at a CAGR of 9.70%. The market’s expansion is supported by:

• A growing geriatric population, particularly in developed nations.

• Increasing prevalence of retinal and macular disorders.

• Advances in biologics and gene therapy targeting AMD progression.

• Improved access to ophthalmic care and diagnostic imaging technologies.

The market share is dominated by wet AMD, due to the widespread use of anti-VEGF drugs like Eylea and Lucentis. Meanwhile, research into therapies for dry AMD, including cell-based and gene therapies, is expected to drive future growth.

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Age-Related Macular Degeneration Market Segmentation

By Product Type

• Wet AMD: Represents the dominant segment due to high treatment costs and prevalence of advanced-stage cases.

• Dry AMD: Growing research focus on slowing disease progression through nutritional and genetic therapies.

By Drug Type

• Lucentis (Ranibizumab): One of the leading anti-VEGF drugs, known for its efficacy and established clinical use.

• Eylea (Aflibercept): Continues to gain traction due to extended dosing intervals and strong safety profile.

• Avastin (Bevacizumab): Widely used off-label for cost-effective AMD management.

• Others: Includes emerging drugs such as Beovu and investigational agents in late-stage trials.

By Route of Administration

• Intravenous: Used for systemic delivery in rare AMD treatment cases.

• Intravitreal: The most common route for anti-VEGF injections, ensuring direct drug delivery to the retina.

Market Dynamics and Emerging Trends

Key Market Drivers

• Rising Geriatric Population: Aging remains the primary risk factor for AMD, with global demographics shifting toward older age groups.

• Technological Innovations: Advances in optical coherence tomography (OCT) and AI-based retinal imaging enhance early diagnosis.

• Growing Adoption of Anti-VEGF Therapy: Increased awareness and availability of biologics have transformed AMD treatment paradigms.

• Strong R&D Pipeline: Numerous biotech and pharmaceutical firms are developing next-generation AMD treatments, including gene therapies and stem cell interventions.

Market Trends

• Emergence of Long-Acting Therapeutics: New formulations aim to reduce the frequency of intravitreal injections.

• Combination Therapies: Research focuses on combining anti-VEGF agents with anti-inflammatory or neuroprotective drugs.

• Increased Use of Artificial Intelligence (AI): AI tools are being deployed to detect and monitor AMD progression.

• Growing Focus on Early Detection and Prevention: Public health campaigns emphasize regular eye screenings for older adults.

Growth Opportunities in the AMD Market

1. Expansion in Dry AMD Treatments

Historically underserved, the dry AMD segment is expected to see major breakthroughs with the approval of emerging drugs targeting complement pathway inhibitors and gene-based treatments.

2. Increasing Healthcare Spending in Developing Regions

Countries in Asia Pacific and Latin America are improving healthcare infrastructure, leading to better diagnosis rates and access to AMD treatments.

3. Collaborations and Licensing Agreements

Strategic collaborations between biotech firms and major pharmaceutical companies are fueling innovation and expanding treatment access globally.

4. Advancements in Gene Therapy and Regenerative Medicine

Innovative therapies like RGX-314 (Regenxbio) and GT005 (Gyroscope Therapeutics) demonstrate promising long-term disease control and reduced treatment burden.

Market Challenges

While the market shows strong growth potential, several challenges persist:

• High treatment costs: Anti-VEGF injections are expensive, creating financial strain for patients and healthcare systems.

• Treatment adherence: Regular intravitreal injections can lead to patient non-compliance.

• Limited options for dry AMD: Fewer effective therapies exist for atrophic AMD compared to wet AMD.

• Stringent regulatory approvals: Delays in drug approvals and long clinical trial timelines can slow innovation.

Regional Analysis of the Age-Related Macular Degeneration Market

North America

Holds the largest market share due to a high prevalence of AMD, advanced healthcare infrastructure, and strong presence of leading pharmaceutical companies. The U.S. remains a dominant hub for AMD clinical trials and product launches.

Europe

Significant growth driven by aging demographics, supportive reimbursement policies, and robust R&D activity in countries like Germany, France, and the U.K.

Asia Pacific

Expected to witness the fastest growth owing to rising awareness, increasing disposable income, and expanding access to ophthalmic care in nations such as Japan, China, and India.

Latin America

Emerging market with gradual adoption of anti-VEGF treatments and improving healthcare accessibility.

Middle East and Africa

Steady growth expected due to increasing healthcare investments and expansion of private ophthalmic clinics.

Competitive Landscape

The age-related macular degeneration market is highly competitive, with pharmaceutical giants and biotechnology companies focusing on drug innovation and extended-release formulations to enhance treatment convenience.

Key Players

• Bayer AG

• F. Hoffmann-La Roche Ltd.

• Novartis AG

• Regeneron Pharmaceuticals Inc. (NASDAQ: REGN)

• Others

These companies are actively involved in strategic partnerships, clinical trials, and product expansions to strengthen their global footprint. For instance, Regeneron’s Eylea and Novartis’ Beovu continue to compete in the anti-VEGF space, while emerging therapies from Roche and Bayer target unmet needs in both wet and dry AMD.

Recent Developments

• Roche’s Vabysmo (Faricimab) received FDA approval, offering dual Ang-2 and VEGF inhibition with extended dosing intervals.

• Bayer and Regeneron announced new trials exploring Eylea’s high-dose formulation for improved durability.

• Novartis AG expanded its ophthalmology portfolio through collaborations focused on gene-based retinal therapies.

• Clinical advancements in dry AMD treatments, including complement inhibitors like Pegcetacoplan, show promising outcomes.

Future Outlook

The future of the age-related macular degeneration market looks promising with the integration of next-generation biologics, AI-based diagnostics, and personalized therapies. As treatment options expand beyond anti-VEGF injections, patients will benefit from longer-lasting and more accessible solutions. By 2034, innovations in gene editing, stem cell therapy, and sustained drug delivery systems are expected to redefine AMD management and significantly reduce the global burden of vision loss.

FAQs

1. What is the current size and forecast of the age-related macular degeneration market?
The global age-related macular degeneration market was valued at USD 10.46 billion in 2024 and is projected to reach USD 26.40 billion by 2034, growing at a CAGR of 9.70% during 2025–2034.

2. What factors are driving the growth of the age-related macular degeneration market?
Key drivers include the rising aging population, advancements in ophthalmic treatments, growing awareness of early diagnosis, and strong demand for anti-VEGF therapies.

3. Which drug dominates the AMD treatment market?
Anti-VEGF drugs such as Eylea, Lucentis, and Avastin dominate the current market, with new therapies like Vabysmo gaining traction.

4. Who are the major players in the global AMD market?
Leading companies include Bayer AG, F. Hoffmann-La Roche Ltd., Novartis AG, and Regeneron Pharmaceuticals Inc.

5. What are the emerging trends in AMD treatment?
Key trends include gene therapy, AI-based diagnostics, combination drug approaches, and long-acting delivery systems to reduce injection frequency.