Age-related Macular Degeneration Market Size, Share & Trends Analysis Report By Product (Eylea, Lucentis, Beovu), By Disease Type (Wet AMD, Dry AMD), By Distribution Channel, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global age-related macular degeneration market size was valued at USD 9.84 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.9% from 2022 to 2030. The launch of new products for the treatment of age-related macular degeneration (AMD), rise in AMD prevalence, and strong product pipeline are anticipated to be the major drivers for the market. According to the WHO, around 196 million people were affected by age-related macular degeneration globally in 2020, including over 10.4 million moderate-to-severe vision impairment cases. The United Nations Department of Economic and Social Affairs data showed that the population aged 65 years and above was around 727 million in 2020. By the end of 2050, the geriatric population will be approximately 2 million.

During the initial phase of the COVID-19 pandemic, the market for age-related macular degeneration was negatively impacted due to missed or delays in follow-up for AMD treatment leading to non-adherence to medications. For instance, in July 2020, Roche witnessed low growth in the sale of its AMD drug Lucentis to USD 401 million in the second quarter over the same period in the previous year.

At present, only a few drugs, mainly anti-VEGFs, are approved for the treatment of age-related macular degeneration. Anti-VEGF drugs require repetitive and inconvenient intraocular injections, which increases the burden and results in non-adherence to treatment. In order to overcome this challenge, companies are developing longer-acting anti-VEGFs and vitreous implants that facilitate sustained delivery of drugs. The entry of long-acting anti-VEGF such as Beovu and Vabysmo is anticipated to propel market growth over the coming years.

However, entry of biosimilars and high adoption of off-label drugs such as Avastin could impede the market growth. Lucentis patent expired in June 2020 in the U.S. and will expire in 2022 in Europe. Moreover, Eylea is expected to lose its patent by 2023 in the U.S., followed by Europe. This will create an opportunity for biosimilars in the space.

In addition, in September 2021, Biogen Inc. and Samsung Bioepis Co., Ltd. obtained U.S. FDA approval for their biosimilar version of Lucentis under the brand name of BYOOVIZ for the treatment of wet AMD, myopic choroidal neovascularization, and retinal vein occlusion. However, the product will be introduced in the U.S. by June 2022 owing to applicable supplementary protection certificates. In addition, the product received approval in EU countries including the U.K. in August 2021.

Product Insights

The eylea segment dominated the market in 2021 with a revenue share of over 50.0%. This dominance can be attributed to high market penetration and patent protection. In addition, according to research studies, patients receiving Beovu reported four times more intraocular inflammation than those on Eylea. Such factors boost the adoption of Eylea over the novel drug Beovu. Followed by Eylea, Lucentis is expected to hold the largest market share over the coming years owing to factors such as the launch of a new drug delivery system. In October 2021, F. Hoffmann La Roche Ltd.’s product Susvimo, which is a refillable implant for Lucentis, obtained U.S. FDA approval. Susvimo requires refilling with ranibizumab once in six months. This will decrease the frequency of administration, thus addressing the unmet need of patients.

Beovu is anticipated to witness the fastest growth over the forecast period owing to the patent protection, superior drying efficacy, and positive results in the treatment of severe cases of wet AMD. However, the product has been found to be associated with concomitant vascular occlusion, retinal vasculitis, intraocular inflammation, and irreparable vision loss in patients. Due to these serious adverse effects, the sales of the product may be affected in the coming years if the company does not introduce an innovative approach to avoid or reduce these adverse reactions.

Disease Type Insights

The wet AMD segment dominated the market in 2021 with a revenue share of 100%. nAMD accounts for more than 10-15% of macular degeneration-related vision loss cases across the globe. Lucentis, Eylea, and Beovu are the major drugs approved for the treatment of wet age-related macular degeneration. Novartis’ Beovu, a long-acting anti-VEGF, was approved by the U.S. FDA in October 2019. However, the unfavorable side effects of this drug, such as retinal vasculitis, will limit its broader uptake.

Dry AMD is anticipated to witness the fastest growth over the forecast period owing to the expected launch of promising product candidates by 2023 and the disease burden of dry AMD. Dry AMD accounts for 85-90% of all macular degeneration cases. The management of dry macular degeneration is currently limited to vitamin formulations. Various novel therapeutic options for its treatment are currently in the clinical pipeline such as Luminate, Zimura, and Intravitreal pegcetacoplan. The approval of these potential candidates may fuel the growth of the dry AMD segment in the coming years.

Distribution Channel Insights

The hospital pharmacy segment dominated the global market in 2021 with a revenue share of over 50.0%. This dominance can be attributed to the rise in the prevalence of age-related macular degeneration (AMD) and hospitalization for the treatment. According to the Royal National Institute of Blind People (RNIB), around 25.3 million people were at high risk of developing age-related macular degeneration (AMD) in 2020. The majority of patients are treated by using various medications such as Lucentis, Eylea, and Beovu, which are administrated intravenously under the supervision of experienced physicians in hospitals. Thus, increasing demand for AMD treatment is anticipated to increase hospital visits, thereby driving the market.

The specialty pharmacy segment is expected to witness the fastest growth over the forecast period due to the ease of drug availability and reimbursement coverage offered by specialty pharmacies. For instance, CVS Caremark offers Eylea, Lucentis, Avastin, and Beovu prescription coverage to eligible retirees and employees who are enrolled in the Public Employees Insurance Program (PEIP) program. This initiative is expected to fuel segment growth.

Regional Insights

North America dominated the market in 2021 with a revenue share of over 50.0%. This dominance can be attributed to the increasing prevalence of AMD. According to the American Academy of Ophthalmology, around 15 million North Americans live with AMD. Europe held the second-largest market share in 2021. This is due to the high prevalence of macular degeneration in Europe, which is estimated to rise by around 20% until 2050.

Asia Pacific is expected to be the fastest-growing region during the forecast period. The growth of the region can be attributed to the high geriatric population and disease burden. The favorable government initiatives to support the affordability of costly anti-VEGF products may contribute to the market growth. Lucentis and Eylea were added to the National Reimbursement Drug List (NRDL) in China in 2017 and 2019.

Key Companies & Market Share Insights

Major players are adopting strategies such as research collaborations for the development of novel products. For instance, in June 2021, Mosaic Biosciences and Ocular Therapeutix entered into a research collaboration for the development of a drug to treat patients with dry age-related macular degeneration. This collaboration strengthens the company’s R&D portfolio and offers a high growth opportunity for the company.  Some prominent players in the global age-related macular degeneration market include:

• F. Hoffmann-La Roche Ltd.

• Novartis AG

• Bayer AG

• Pfizer Inc.

• Bausch Health Companies Inc.

• Regeneron Pharmaceuticals Inc.

• Amgen Inc.

• Biogen

• Samsung Bioepis

Age-related Macular Degeneration Market Report Scope 

Global Age-related Macular Degeneration Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global age-related macular degeneration market report on the basis of product, disease type, distribution channel, and region:

• Product Outlook (Revenue, USD Million; Patient Share, 2018 - 2030)

  • Eylea

  • Lucentis

  • Beovu

  • Others

• Disease Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Dry AMD

  • Wet AMD

• Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospital Pharmacy

  • Specialty Pharmacy

  • Online Pharmacy

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE