The global age-related macular degeneration market size was valued at USD 10.87 billion in 2025 and is projected to grow from USD 11.84 billion in 2026 to USD 23.41 billion by 2034, registering a CAGR of 8.90% during the forecast period (2026–2034). North America dominated the global AMD market with a share of 49.87% in 2025.
Age-related macular degeneration (AMD) treatment refers to medical therapies and diagnostic approaches used to manage retinal damage and slow vision loss associated with age-related changes in the macula. AMD treatments are commonly tracked under HSN Code 3004 (medicaments for therapeutic or prophylactic uses) and SIC Code 2834 (Pharmaceutical Preparations).
The age-related macular degeneration market demand is driven by the aging population, increasing prevalence of retinal disorders, and the demand for effective vision loss management. Healthcare providers are increasingly using anti-VEGF therapies, complement inhibitors, retinal imaging technologies, photodynamic therapy, and other ophthalmic treatments, contributing to age-related macular degeneration market growth.
By Product
By Disease Type
By Distribution Channel
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Shift toward Long-Acting Anti-VEGF Therapies
The age-related macular degeneration market analysis shows a shift toward long-acting anti-VEGF therapies designed to extend treatment intervals and reduce the frequency of intravitreal injections. These therapies are being developed to provide sustained suppression of vascular endothelial growth factor activity in patients with neovascular age-related macular degeneration.
Use of Complement Inhibitor Therapies for Geographic Atrophy
The AMD market is witnessing growth in complement inhibitor therapies for geographic atrophy that target components of the complement pathway involved in retinal damage. These therapies are being developed to slow the progression of geographic atrophy and preserve retinal function for longer periods.
Supply chain disruptions are expected to have a moderate impact on the age-related macular degeneration market share due to dependence on biologic drugs, pharmaceutical ingredients, sterile injection supplies, ophthalmic products, and temperature-controlled pharmaceutical distribution networks. The market is expected to follow a stair-step recovery, as shortages of active pharmaceutical ingredients, manufacturing delays, sterile packaging constraints, and transportation disruptions can affect treatment availability in phases before pharmaceutical production and distribution capacity stabilize. The market is expected to grow at a CAGR of 8.90%, but supply chain constraints could approximately lower this by 1.0 percentage point, resulting in short-term growth of around 7.90%. As supply conditions normalize through improved availability of pharmaceutical ingredients and ophthalmic treatments, stable manufacturing capacity, reliable sterile supply chains, and smoother pharmaceutical distribution, age-related macular degeneration market growth is expected to gradually return to 8.90%.
The age-related macular degeneration market forecasts strategic investment activity driven by regenerative cell therapies, retinal implants, geographic atrophy treatments, advanced gene therapies, and the development of innovative vision restoration technologies.
Key Investment and Funding Activities in Age-Related Macular Degeneration Market, 2026
GelMEDIX
USD 13 Million
In February 2026, GelMEDIX completed a USD 13 million seed financing to advance GMX-101, a retinal pigment epithelial cell therapy for geographic atrophy, an advanced form of dry AMD.
Science Corporation
USD 230 Million
In 2026, Science Corporation raised USD 230 million to advance its Prima retinal implant and expand development of vision restoration technologies for late-stage AMD.
Demand for Less Frequent Injection Therapies and Expansion of Retinal Imaging Technologies Drives Market
The demand for less frequent injection therapies is growing as patients and healthcare providers seek more convenient AMD treatment options. Longer acting therapies can extend the time between doses and reduce the burden of frequent eye injections. This can also help simplify long-term treatment management.
The expansion of retinal imaging technologies is increasing demand for advanced tools that support early detection and monitoring of AMD. Technologies such as optical coherence tomography and retinal imaging systems help clinicians examine changes in retinal structure and disease progression. Better imaging can support more timely treatment decisions and regular monitoring.
Frequent Intravitreal Injection Requirements and Risk of Adverse Effects Associated with AMD Therapies Restraints Market Expansion
Frequent intravitreal injection requirements can create a treatment burden for patients with age-related macular degeneration. Anti-VEGF therapies often require repeated injections and regular follow-up visits to maintain disease control. This treatment burden can affect adherence and restrain market growth.
The risk of adverse effects associated with AMD therapies can limit the use of certain treatment options. Intravitreal injections may be associated with complications such as eye inflammation, increased intraocular pressure, or infection. These safety concerns can influence treatment decisions and restrain market adoption.
Expansion of AMD Treatment in Specialty Eye Care and Monitoring Services Offers Growth Opportunities
The growing need for retinal care is creating opportunities for pharmaceutical companies and ophthalmology providers to serve eye hospitals, specialty clinics, and aging patients. Advanced therapies can help manage vision loss associated with different forms of AMD. Revenue can be generated through drug sales, treatment procedures, and specialist consultations, contributing to age-related macular degeneration market growth.
The increasing need for early detection and continuous disease monitoring is creating opportunities for diagnostic providers and eye care centers. Retinal imaging and vision assessment services can support regular monitoring of disease progression and treatment response. Revenue can be generated through imaging procedures, diagnostic services, and recurring monitoring programs, supporting market growth.
The Eylea segment accounted for a share of 30.4% in 2025 due to its established use in the treatment of neovascular or wet age-related macular degeneration.
The Izervay segment is expected to grow at a CAGR of 18.1% during the forecast period, driven by the adoption of complement pathway inhibitors for geographic atrophy associated with dry AMD.
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The wet AMD segment is expected to grow at a CAGR of 8.2% during the forecast period, supported by continued demand for anti-vascular endothelial growth factor (anti-VEGF) therapy and retinal disease monitoring.
The dry AMD segment is expected to grow at a CAGR of 11.6% during the forecast period, fueled by increasing diagnosis of geographic atrophy and the introduction of therapies targeting complement pathway activity.
The hospital pharmacies segment accounted for a share of 47.3% in 2025, owing to the specialized nature of AMD treatment and the need for ophthalmology-based clinical care.
The specialty pharmacies segment is expected to grow at a CAGR of 10.6% during the forecast period, supported by the use of specialized retinal therapies requiring prescription management and patient support services.
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North America: Market Dominance Supported by FDA Approvals and Clinical Trials
The North America age-related macular degeneration market accounted for a share of 49.87% in 2025.
The United States AMD market benefits from continued development of longer acting anti VEGF treatment options. The FDA approved Eylea HD (8 mg aflibercept) for neovascular AMD with dosing intervals of 8 to 16 weeks after initial treatment, providing an extended dosing option compared with conventional aflibercept therapy.
The Canada AMD market is supported by a Phase 3 Canadian trial evaluating OPT 302 in combination with aflibercept versus aflibercept alone in patients with neovascular AMD, reflecting continued development of combination anti VEGF treatment approaches.
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Asia Pacific: Fastest Growth Supported by Focus on OCT-Based Retinal Diagnostics and Geographic Atrophy Management
The Asia Pacific age-related macular degeneration market is expected to grow at a CAGR of 11.02% during the forecast period, showcasing the fastest-growing regional market.
The India AMD market is shaped by the use of optical coherence tomography (OCT) for retinal monitoring. Indian clinical guidance recommends OCT and OCT angiography during regular follow-up of AMD patients to detect active exudation and monitor disease progression, supporting continued adoption of advanced retinal diagnostics.
The China AMD market is driven by the focus on geographic atrophy assessment. The Beijing Eye Study uses OCT imaging to assess retinal changes in participants with early AMD, intermediate AMD, and geographic atrophy, demonstrating the application of advanced imaging in monitoring AMD-related retinal changes.
The Japan AMD market is supported by advances in retinal diagnostics. A Phase 3 Japanese clinical trial registered as jRCT2071260009 is evaluating intravitreal pegcetacoplan in Japanese patients with geographic atrophy secondary to AMD, with fundus autofluorescence used to assess geographic atrophy lesions. This reflects the use of advanced retinal assessment in the management of AMD.
Europe: Market Growth Supported by Access to Long-Acting Treatments and Advancements in Retinal Disease Management
The Europe age-related macular degeneration market is expected to grow at a CAGR of 8.1% during the forecast period.
The UK AMD market is supported by advances in macular degeneration diagnosis and treatment. NHS England has expanded access to newer long-acting treatments for wet AMD, including faricimab, allowing eligible patients to receive treatment at longer intervals when clinically appropriate. This supports continued adoption of advanced therapies for retinal disease management.
The Germany AMD market is led by advances in retinal disease management. The German Ophthalmological Society (DOG) recommends regular OCT-based monitoring for patients receiving treatment for neovascular AMD, helping ophthalmologists assess retinal fluid and determine whether anti-VEGF treatment should be continued, adjusted, or extended. This supports the use of structured retinal disease management in AMD care.
Latin America: Market Expansion Driven by Focus on Eye Care Management
The Latin America AMD market is expected to grow at a CAGR of 7.6% during the forecast period. Brazil’s National Health Survey includes retinal examinations and visual assessments among eye health evaluations for older adults, supporting identification of vision problems associated with AMD. In Mexico, the Asociación Mexicana de Retina is conducting its 2026–2027 National Retina Fellows Program, which includes dedicated training in medical retina, advanced retinal imaging, maculopathies, and neovascular AMD. This strengthens specialist capabilities for diagnosis and management of retinal diseases in Mexico.
Middle East & Africa: Market Growth Supported by Retinal Screening Services
The Middle East & Africa AMD market is expected to grow at a CAGR of 7.2% during the forecast period. Dubai’s Al Noor Training Centre for Children with Special Needs has introduced retinal screening services using fundus photography to identify retinal abnormalities, including macular conditions, supporting earlier referral for specialist eye care. The South African National Council for the Blind provides low-vision services that assist older adults with vision loss caused by retinal conditions, including AMD, through vision assessment and assistive solutions.
The age-related macular degeneration market competitive landscape is highly fragmented, with established pharmaceutical companies, biotechnology companies, and ophthalmic drug developers. Key players such as F. Hoffmann-La Roche Ltd., Regeneron Pharmaceuticals, Inc., Bayer AG, Novartis AG, and Apellis Pharmaceuticals, Inc. are estimated to account for approximately 35–40% of the global AMD market share.
Established players compete mainly through anti-VEGF therapies, complement inhibitor therapies, clinical research capabilities, and therapeutic innovations. Emerging and regional players in the age-related macular degeneration market ecosystem focus on specialized retinal therapies, novel treatment approaches, competitive pricing, and application-specific ophthalmic treatments.
September 2026: The European Commission approved Susvimo for neovascular AMD.
September 2026: Ocugen dosed the first patient in the Phase 3 ArMaDa3 trial of OCU410, a one-time subretinal modifier gene therapy for geographic atrophy secondary to dry AMD.
May 2026: China's NMPA accepted the NDA for Izervay (avacincaptad pegol) for geographic atrophy secondary to AMD and granted the application priority review.
March 2026: Biogen announced an agreement to acquire Apellis, bringing Syfovre (pegcetacoplan), an FDA-approved treatment for geographic atrophy secondary to AMD, into Biogen's portfolio.
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