Age-related Macular Degeneration (AMD) Drugs Market: Growth, Size, Share, and Trends

Market Growth Outlook Summary

The global AMD drugs market growth forecasted to transform from $10.46 billion in 2024 to $17.37 billion by 2029, driven by a CAGR of 10.7%. Factors such as the increase in the prevalence of AMD cases due to the changing lifestyle and dietary habits such as smoking, alcohol consumption, and lack of physical activity, a growing focus on research and development highlighted by steady development and approvals of AMD drugs along with improvements in reimbursement policies providing better and affordable access to therapeutic AMD drugs, supports the growth of this market. Additionally, the rapidly expanding AMD drugs market in developing countries and a shifting focus on developing novel drug modalities for treating various forms of AMD provide growth opportunities for the players in this market. However, the increasing off-label use of drugs such as Avastin and the high treatment burden caused by frequent intravitreal injections hinders the growth of the market to some extent.

Age-Related Macular Degeneration (AMD) Drugs Market - Global Forecast to 2029

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Attractive Opportunities in Age-Related Macular Degeneration (AMD) Drugs Market

Global Age-related Macular Degeneration (AMD) Drugs Market Dynamics

Driver: Steady development and approvals of drugs

For several medical conditions, including age-related macular degeneration (AMD), regulatory organizations like the US FDA grant fast-track designations to help pharmaceutical companies expedite treatment development and approval. Biotechnology and pharmaceutical firms have made significant efforts toward developing novel medications through research and development programs due to the growth in the aging population and unhealthy lifestyles and dietary choices.

Many new pharmaceutical companies with innovative solutions are emerging and receiving fast-track designations for their offerings. For the treatment of the wet form of AMD, the drug OPT-302, produced by Australian pharmaceutical company Opthea Limited, received fast-track approval from the US FDA in 2021. Furthermore, companies are expanding their drug portfolios through acquisitions, as highlighted by the acquisition of EyeBio (UK) by Merck & Co. in 2024. This allowed Merck to add the phase 2 ophthalmic product from EyeBio to its portfolio.

Restraint: Off-label use of drugs

AMD drugs are generally available at a high cost, which often prevents patients from using the drug. This is the main reason why Avastin (Bevacizumab) is widely used as an off-label drug for the treatment of wet AMD, among other retinal diseases. The drug costs only a fraction of the price of major AMD drugs such as Eylea and Vabysmo, and clinical data has proven its efficacy comparable to those of these drugs. Reports from pharmaceutical companies have highlighted that the drug represents approximately 50% of the market for wet AMD drugs by volume. This figure is also supported by the fact that countries such as the US, the UK, and Italy, among others, offer insurance coverage for using Avastin to treat AMD. This off-label use of the drug is a potential restraint hindering the growth of the market.

Opportunity: Shifting focus on new drug modalities

Currently, drugs developed to treat AMD are either monoclonal antibodies or recombinant fusion proteins, which tend to be expensive due to their frequent dosing requirements. This high treatment cost leads to an increased treatment burden on the patients, which is usually reflected in a high percentage of patients dropping out of treatment. Companies within the AMD drugs market are researching newer drug modalities such as gene therapy, hydrogels, and inhibitor drugs (oral dosing) to overcome this challenge of patient non-adherence to treatment. For instance, companies like Adverum Biotechnologies, Inc. (US) are developing gene therapies for treating wet AMD.

Currently, there are active investigations dedicated to developing novel drug delivery strategies for AMD medicines. An allosteric inhibitor of EB3 protein was synthesized in 2023 by the University of Illinois in Chicago research team as eye drops that can be used for different types of neovascularization associated with wet AMD. These developments are intended to solve problems associated with current AMD therapies, such as high prices, repeated administration, and patient discomfort, thus allowing better and easier ways of handling this disorder.

Challenge: Non-adherence to treatments

Intravitreal injections are associated with a high frequency of dosage, with Lucentis treatment requiring injections every 4–6 weeks for the treatment of wet AMD. This entails a high cost for the patient and increases the treatment burden due to frequent visits required by the patient, leading to an increase in the number of treatment dropouts. Multiple reports, such as the 2024 research report focusing on the unmet needs of AMD patients in Europe published by researchers from the Department of Ophthalmology, Dijon University Hospital, and the 2023 research report published by researchers from the University of Sydney (Australia), have concluded that this non-adherence to the treatment is a significant barrier to patients achieving the desired therapeutic output. Similar studies have highlighted that approximately 50% of the patients discontinued their AMD treatment within 24 months.

Interviews with leading ophthalmologists from the UAE and the UK concluded that as the disease is associated with old age, most of the patients depend on their families or caretakers for hospital visits, increasing the treatment burden. Moreover, these individuals already have other diseases, such as diabetes and cardiovascular diseases, among others. Patients do not adhere to the AMD treatments if results are not visible in the first few months of treatment. Additionally, the education level of the individuals also plays an important role in the adherence rate. Countries with higher education levels and spending power have significantly low dropout rates, whereas developing countries where old people are not well educated and do not have large disposable income face higher dropout rates from the treatment. This lack of consistent treatment adherence can reduce the perceived effectiveness of a drug, affecting market success and profitability.

Global Age-related Macular Degeneration (AMD) Drugs Ecosystem Analysis

The ecosystem for AMD drugs markets consists of major pharmaceutical companies and pipeline companies, research institutions, technology providers, data management & analysis providers, regulatory authorities (ensuring compliance and safety), and collaborative networks promoting knowledge sharing and collaboration. These stakeholders interact and collaborate to drive the advancement of AMD drug development, enhance drug discovery processes, and develop new therapeutics for AMD.

The Eylea & Eylea HD segment dominated the Age-related Macular Degeneration (AMD) drugs market, by product in 2023.

Lucentis, Eylea & Eylea HD, Vabysmo, and Syfovre, among other AMD drugs, are the products studied in the Age-Related Macular Degeneration (AMD) Drugs market under the product segment. In 2023, Eylea & Eylea HD accounted for the largest share of the Age-related macular degeneration drugs market by products. This large share of the drug is associated with high adoption of the drug for the treatment of wet AMD. The efficacy of the drug is established through multiple research studies and is the preferred choice of treatment for more than 40% of ophthalmologists across the globe.

The Dry AMD segment is projected to register the highest growth rate in the AMD drugs market, by type of AMD.

The dry type of AMD, also known as Geographic Atrophy, is projected to record the highest CAGR during the forecast period due to the growing prevalence of dry AMD among the geriatric population, leading to an increase in the efforts to develop therapeutics for this medical condition. Additionally, government support, such as the 2023 FDA approvals of Pegcetacoplan (Syfovre) and Avacincaptad Pegol (IZERVAY), is also contributing to the growth of this segment. Furthermore, rising investments in research and development are highlighting pharmaceutical companies' commitment to creating new therapies for dry AMD.

The North American region is expected to register the fastest growth in the age-related macular degeneration (AMD) drugs market during the forecast period.

The North American region is expected to account for the fastest-growing region of the AMD drugs market during the forecast period. This region has a diverse pool of patients who adopt a wide range of therapeutics. There is an increase in the geriatric population that is prone to retinal diseases, leading to an increase in the demand for AMD drugs. Reports from leading pharmaceutical companies have projected that approximately 200,000 new cases of AMD are reported in the US annually. There has been an increase in approvals for AMD drugs in the US, the latest being Enzeevu (biosimilar) (developed by Sandoz) for treating wet AMD.

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Key Market Players

Key players in the age-related macular degeneration (AMD) drugs market include Regeneron Pharmaceuticals Inc. (US), Bayer AG (Germany), F. Hoffmann-La Roche AG (Switzerland), Novartis AG (Switzerland), Apellis Pharmaceuticals, Inc. (US), Coherus BioSciences, Inc. (US), Astellas Pharma Inc. (Japan), Biogen (US), STADA Arzneimittel AG  (Germany), Formycon AG (Germany), Biocon. (India), Outlook Therapeutics, Inc. (US), Intas Pharmaceuticals Ltd. (India), Teva Pharmaceutical Industries Ltd. (Israel), Chengdu Kanghong Biotech Company (China), Sandoz Group AG (Switzerland), Stealth BioTherapeutics Inc.  (US), Ocular Therapeutix, Inc. (US), Opthea Limited, Inc. (Australia), Kodiak Sciences Inc. (US), Innovent Biologics, Inc. (China), Bio-Thera Solution Inc. (China), Alvotech (Iceland), Alteogen Inc. (South Korea), Shanghai Henlius Biotech, Inc. (China), Amgen Inc. (US), Ocumension Therapeutics. (China) and Adverum Biotechnologies, Inc. (US)

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Scope of the Report

This report categorizes the Age-related macular degeneration (AMD) drugs market into the following segments and subsegments:

Age-related macular degeneration (AMD) drugs  Market, by Products

• Lucentis
• Eylea & Eylea HD
• Vabysmo
• Syfovre
• Other Products

Age-related macular degeneration (AMD) drugs Market, by Molecules

• Ranibizumab
• Aflibercept
• Faricimab
• Pegcetoplan
• Other Molecules

Age-related macular degeneration (AMD) drugs Market, by Type of AMD

• Wet AMD
• Dry AMD

Age-related macular degeneration (AMD) drugs Market, by Approval type

• Biologic
• Biosimilar

Age-related macular degeneration (AMD) drugs Market, by End User

• Hospitals
• Specialty Centers
• Long-Term Care Facilities

Age-related macular degeneration (AMD) drugs Market, by Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe (RoE)
• Asia Pacific (APAC)
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific (RoAPAC)
• Latin America
  • Brazil
  • Mexico
  • RoLATAM
• Middle East
  • GCC
    • Saudi Arabia
    • UAE
    • Rest of GCC
  • Rest of the Middle East
• Africa

Recent Developments

• In 2024, F. Hoffmann-La Roche Ltd received approval from the US Food and Drug Administration (FDA) for its Vabysmo (faricimab) 6.0 mg single-dose prefilled syringe (PFS) for the treatment of patients with nAMD. These prefilled syringes offer an easy-to-use format for drug use.
• In 2024, the US Food and Drug Administration (FDA) approved the biosimilar drug Enzeevu by Sandoz, Yesafili by Biocon, and Opuviz by Samsung Bioepis to treat patients with wet AMD.
• In 2023, Astellas Pharma Inc. (Japan) acquired Iveric Bio, a clinical-phase biotechnology company that develops innovative therapies for retinal disorders. Astella expanded its pharmaceutical product portfolio through this acquisition and added Izervay, an ophthalmologic drug.
• In 2021, Novartis AG acquired Gyroscope Therapeutics (UK) to strengthen its position in ophthalmology gene therapy and optogenetics. Gyroscope Therapeutics focuses on developing gene therapy for treating patients with Geographic Atrophy (GA), an advanced form of Dry AMD.
• In 2021, Apellis Pharmaceuticals entered a five-year research collaboration with Beam Therapeutics. The collaboration focuses on using the base editing technology of Beam Therapeutics to discover new treatments for complement-driven diseases. The companies are working on six research programs based on C3 and other complementary targets in the eye, liver, and brain.

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