While Age-related muscular degeneration (AMD) present niche market opportunities, US$12.85 is projected to reach by 2025 globally at CAGR of 7.7% during the forecast period of 2019-2025. According to the report of China Biotech Primer (2019), prevalence across China’s population is around 10% with 3 million new cases per year. Starting from 2013 to now, only 3 majors players with 6 candidates in clinical trial is engaged in different indication segment of AMD, suggesting the market is relatively new in China. AMD therapeutic market need new player to compete with currently two-player market. In other word, innovation will drive AMD field to move toward maturity in next few decades.