Age-related Macular Degeneration Market Size

Age-related Macular Degeneration Market Size

The global age-related macular degeneration market size was valued at around USD 10.4 billion in 2023 and is estimated to grow at 9.8% CAGR from 2024 to 2032. Age-related macular degeneration (AMD) is an eye condition that can hinder central vision. It arises when aging damages the macula, the eye's region responsible for sharp, direct vision. The macula resides within the retina, the light-sensitive tissue located at the back of the eye.

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Driven by new product launches, a strong product pipeline, and rising AMD prevalence rates, the AMD market is poised for significant growth. The Population Reference Bureau projects that the number of Americans aged 65 and older will surge from 58 million in 2022 to 82 million by 2050, marking a 47% increase. This demographic trend signals an unprecedented aging wave in the U.S. population.
 

Many older adults grapple with chronic diseases like diabetes and hypertension, heightening their AMD risk. The National Council on Aging highlights that around 95% of older adults have at least one chronic condition, with 80% managing two or more. Given the rising prevalence of these conditions, there's a pressing need for effective management strategies, including AMD treatment. This situation emphasizes the necessity for holistic healthcare approaches for older adults, aiming to manage multiple chronic conditions and mitigate AMD risk.
 

Research and development in AMD therapies are broadening patient treatment options. These advancements encompass novel ophthalmology drugs, valued at USD 31 billion in 2023, including anti-VEGF agents, corticosteroids, and gene therapies. The American Academy of Ophthalmology notes that anti-VEGF treatment enhances vision in about one-third of recipients and stabilizes it for roughly 90%. Such improved treatment outcomes, fueled by these innovations, are set to propel market growth. As research advances, these emerging therapies not only promise to uplift the quality of life for AMD patients but also hold potential in decelerating disease progression.