Macular Degeneration Market to Reach USD 17.6 Billion by 2034, Growing at a CAGR of 6.8%

Introduction
Macular degeneration, particularly age-related macular degeneration (AMD), stands as one of the leading causes of vision loss among the elderly population worldwide. The disease progressively damages the macula-the central part of the retina responsible for sharp, detailed vision-impacting millions of lives globally. With rising life expectancy and growing awareness about eye health, the focus on early detection, advanced drug delivery, and gene-based interventions has never been stronger.

According to Exactitude Consultancy, the global Macular Degeneration Market was valued at USD 9.2 billion in 2024 and is expected to reach USD 17.6 billion by 2034, growing at a CAGR of 6.8% during the forecast period (2025-2034).
The growth of this market is driven by increasing prevalence of AMD, innovations in biologics and anti-VEGF therapies, and expansion of ophthalmic diagnostic capabilities. The industry is evolving toward precision medicine, personalized treatment, and long-acting drug formulations aimed at improving patient compliance and outcomes.

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Market Overview
Key Highlights
• Market Size (2024): USD 9.2 Billion
• Forecast (2034): USD 17.6 Billion
• CAGR (2025-2034): 6.8%
• Key Drivers: Growing elderly population, increasing adoption of anti-VEGF drugs, and technological advances in retinal imaging.
• Challenges: High treatment costs, limited therapeutic options for dry AMD, and patient compliance issues.
• Leading Players: Regeneron Pharmaceuticals, Roche, Bayer AG, Novartis AG, and Apellis Pharmaceuticals.

Macular degeneration is classified primarily into two forms - dry (atrophic) and wet (neovascular). The wet form, though less common, causes most cases of severe vision loss due to abnormal blood vessel growth under the retina. Current treatments focus on anti-VEGF (vascular endothelial growth factor) inhibitors that help reduce neovascularization and slow disease progression.
With the advent of gene therapy, stem cell transplantation, and sustained-release drug delivery, the market is witnessing a paradigm shift toward durable and minimally invasive solutions.

Segmentation Analysis
By Type
• Dry Age-Related Macular Degeneration (AMD)
• Wet Age-Related Macular Degeneration (AMD)

By Therapeutic Class
• Anti-VEGF Drugs
o Ranibizumab (Lucentis)
o Aflibercept (Eylea)
o Brolucizumab (Beovu)
o Faricimab (Vabysmo)
• Complement Inhibitors
o Pegcetacoplan (Syfovre)
o Avacincaptad Pegol (Izervay)
• Photodynamic Therapy (PDT)
• Stem Cell and Gene Therapy Candidates
• Nutritional and Antioxidant Supplements

By Route of Administration
• Intravitreal Injection
• Topical (Ophthalmic Solutions)
• Oral
• Implantable or Sustained-Release Devices

By End User
• Hospitals and Specialty Eye Clinics
• Ambulatory Surgical Centers (ASCs)
• Research and Academic Institutions

By Region
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America

Segmentation Summary:
The wet AMD segment dominates global revenue due to the higher availability of targeted pharmacological treatments such as Eylea, Lucentis, and Beovu. However, the dry AMD segment is projected to expand significantly during 2025-2034 as new complement pathway inhibitors like Syfovre and Izervay gain regulatory approvals.

Intravitreal injections remain the gold standard for treatment delivery, but next-generation long-acting implants and ocular gene therapy platforms are gaining attention for reducing injection frequency and improving adherence.

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Regional Analysis
North America
• Largest regional market, accounting for over 40% of global revenue in 2024.
• High prevalence of AMD in the elderly population, especially in the U.S. and Canada.
• Strong presence of leading pharmaceutical innovators such as Regeneron, Roche, and Apellis Pharmaceuticals.
• Favorable reimbursement policies for anti-VEGF injections under Medicare programs.
• Growth supported by rising clinical trials in gene and stem cell-based ophthalmic therapies.
Europe
• Second-largest market, driven by Germany, the UK, France, and Italy.
• Expanding geriatric population and increased healthcare access fueling treatment demand.
• The European Medicines Agency (EMA) supporting fast-track approvals for novel AMD drugs.
• Growing adoption of combination therapy approaches integrating anti-VEGF with complement inhibitors.
• Strong infrastructure for ophthalmic research and imaging technology adoption.
Asia-Pacific
• Expected to record the fastest CAGR (~7.8%) between 2025 and 2034.
• Rising incidence of AMD linked to aging populations in Japan, China, South Korea, and India.
• Expanding ophthalmic diagnostic infrastructure and growing access to branded and biosimilar anti-VEGF agents.
• Collaborations between regional eye institutes and global pharma companies accelerating market penetration.
• Increased adoption of teleophthalmology and portable retinal imaging in rural areas.
Middle East & Africa
• Growing demand in Saudi Arabia, UAE, and South Africa, supported by better healthcare funding and awareness campaigns.
• Gradual availability of anti-VEGF therapies and vision screening initiatives.
• Rising ophthalmology research collaborations with European institutions.
Latin America
• Emerging markets in Brazil, Mexico, and Argentina showing steady growth.
• Expansion of specialized eye care centers and improved healthcare access for the elderly.
• Increased importation of branded biologics and expansion of local biosimilar manufacturing.

Regional Summary:
While North America and Europe dominate in innovation and therapy adoption, Asia-Pacific is emerging as a fast-growing hub due to rising patient awareness, government initiatives for eye health, and the introduction of cost-effective biosimilars.

Market Dynamics
Key Growth Drivers
1. Aging Population: Rising number of elderly individuals globally, particularly in developed nations.
2. Advancements in Anti-VEGF Therapies: Launch of longer-acting agents and dual-pathway inhibitors reducing treatment burden.
3. Early Diagnosis and Screening: Expansion of retinal imaging and OCT (Optical Coherence Tomography) devices for early detection.
4. Emergence of Gene and Cell Therapies: Pipeline of regenerative and gene-based solutions aiming for functional vision restoration.
5. Increased Healthcare Expenditure: Rising investments in ophthalmic care, especially in Asia and Latin America.

Key Challenges
• High Cost of Treatment: Anti-VEGF injections and emerging therapies remain expensive for most patients.
• Limited Options for Dry AMD: Historically under-treated due to lack of approved drugs.
• Patient Compliance Issues: Frequent intravitreal injections deter long-term adherence.
• Biosimilar Competition: Market entry of biosimilars posing pricing challenges for branded biologics.
• Reimbursement Limitations in Developing Countries: Restricted insurance coverage affecting accessibility.

Latest Market Trends
• Dual-Target Drugs: New-generation biologics targeting both VEGF-A and ANG2 pathways (e.g., Faricimab/Vabysmo).
• Complement Inhibitors for Dry AMD: Commercial success of Syfovre and Izervay introducing new treatment pathways.
• Gene Therapy and Ocular Implants: Long-lasting treatment solutions with single-dose or implant-based delivery.
• AI-Powered Diagnostic Imaging: Automated OCT analysis improving detection accuracy and treatment planning.
• Teleophthalmology: Integration of remote eye examinations and digital health tools for screening and monitoring.

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Competitive Landscape
Major Players
1. Regeneron Pharmaceuticals, Inc.
2. F. Hoffmann-La Roche Ltd. (Genentech, Inc.)
3. Bayer AG
4. Novartis AG
5. Apellis Pharmaceuticals, Inc.
6. Ophthotech Corporation (Iveric Bio, now part of Astellas Pharma)
7. Allergan plc (AbbVie Inc.)
8. Santen Pharmaceutical Co., Ltd.
9. Kodiak Sciences Inc.
10. Graybug Vision, Inc.
11. Samsung Bioepis Co., Ltd.
12. PanOptica, Inc.
13. Ocugen, Inc.
14. Adverum Biotechnologies, Inc.
15. Astellas Pharma Inc.
16. MeiraGTx Holdings plc
17. EyePoint Pharmaceuticals, Inc.
18. Molecular Partners AG
19. Regenxbio Inc.
20. Beovu (Brolucizumab) Collaborators and Biosimilar Entrants

Competitive Summary:
The macular degeneration market is highly competitive and innovation-driven, with key players investing in next-generation biologics, biosimilars, and regenerative ophthalmology.
• Regeneron (Eylea) and Roche (Vabysmo/Lucentis) dominate the anti-VEGF segment.
• Apellis Pharmaceuticals (Syfovre) and Iveric Bio (Izervay) have revolutionized dry AMD therapy with complement inhibition.
• Novartis continues to expand its ophthalmology portfolio with Brolucizumab and Beovu for enhanced durability.
• Emerging biotech firms such as Kodiak Sciences and Regenxbio are developing gene therapy solutions aiming for long-term remission with a single dose.

Collaborations, co-marketing agreements, and biosimilar development are common strategies as companies compete to offer improved efficacy, safety, and dosing convenience.

Conclusion
The Macular Degeneration Market is entering a transformative decade, where precision ophthalmology and regenerative medicine redefine the management of age-related blindness. As biologic innovation meets digital imaging and AI diagnostics, early intervention and durable treatment are becoming achievable realities for millions.

By 2034, advancements in gene editing, long-acting implants, and AI-driven disease monitoring are expected to significantly reduce global visual impairment rates. With strong industry collaboration and expanding accessibility, macular degeneration care is poised to evolve from reactive treatment to proactive preservation of sight.
In essence, the market's future lies at the crossroads of biotechnology, digital health, and compassionate innovation-ensuring that better vision remains within everyone's reach.

This report is also available in the following languages : Japanese (黄斑変性症), Korean (황반변성), Chinese (黄斑变性), French (Dégénérescence maculaire), German (Makuladegeneration), and Italian (Degenerazione maculare), etc.

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