- Intravenous
- Intravitreal
Choroidal Neovascularization Market was valued at USD 5.8 billion in 2022 and is poised to grow at a CAGR of 6.8% over 2023-2029. Choroidal Neovascularization (CNV) is the formation of new blood vessels in the choroid layer of the eye, which is associated with excessive amounts of vascular endothelial growth factor, and is the common cause of neovascular degenerative maculopathy, and can be exacerbated by extreme myopia, malignant myopic degeneration, or age-related developments. Based on the application type, the malignant myopic degeneration segment is anticipated to dominate the choroidal neovascularization market share over the forecast period. According to a research report, the estimated number of people with age-related macular degeneration will double by 2050, from 2.07 million to 5.44 million. Increased drug development and growing choroidal neovascularization market demand for hospitals and clinics will act as the growth drivers for the market, whereas complications associated with treatment and unavailability of appropriate treatment might pose as challenges for the market. Higher cases of age-related macular degeneration and increasing use of generic drugs are opportunities for market expansion.
Choroidal Neovascularization Market Key Developments:
- In March 2022, Intas Pharmaceuticals launched a biosimilar of Ranibizumab, an anti-vascular endothelial growth factor, focused on the treatment of ocular degeneration.
- In June 2023, the US FDA issued a complete response letter to Regeneron Pharmaceuticals for its BLA filed for wet age-related macular degeneration, diabetic macular, and diabetic retinopathy for Aflibercept (Eylea).
Choroidal Neovascularization Market Summary
Study Period
2023-29
Base Year
2022
CAGR
6.8%
Largest Market
North America
Fastest Growing Market
Asia Pacific
Choroidal Neovascularization Market Dynamics
The increasing prevalence of choroidal neovascularization cases, the increasing aging population, and rising government initiatives for the development of healthcare infrastructure are the major factors for the growth of the choroidal neovascularization market. For instance, in Oct 2021, the FDA gave approval for Bausch Health Companies and Clearside Biomediclas’s Xiperetm for suprachoroidal use in the treatment of macular edema associated with uveitis. Additionally, increasing incidences of lifestyle-associated diseases such as high blood pressure, and diabetes is also supporting the growth of the market. Thus, the increased awareness, research and development for lysosomal storage disorders will lead to the growth of the market within the forecast period.
North-America Got Significant Share of
Choroidal Neovascularization Market Regional Analysis
The Choroidal Neovascularization market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The major risk factor for age-related macular degeneration is age, which rises from 2% for individuals aged 50-59, to about 30% for those aged 75 and older. The prevalence of visual impairment due to pathogenic myopia is reported to range from 0.1% to 0.5% in Europeans and 0.2%. to 1.4% in Americans and Asians. The North America Choroidal Neovascularization market is expected to dominate the market over the forecast period, due to the increasing investments by healthcare providers for the treatment and rising research activities in the segment. Asia Pacific market is also growing at a faster rate owing to the presence of key generic pharmaceutical companies, and the increasing aged population in the region.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The choroidal neovascularization market report provides granular level information about the market size, regional market share, historic market (2018-2022) and forecast (2023-2029)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments, and start-up details that are actively working in the market
- The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Choroidal Neovascularization Market Segmentation
By Product Type
By Treatment Type
- Angiogenesis Inhibitors Injection
- Photodynamic Therapy
- Laser Photocoagulation
- Low-dose Radiation Therapy
- Surgery
By Diagnosis
- Fluorescein Angiography
- Indocyanine Green Angiography
- Spectral Domain Optical Coherence Tomography
- Others
By Application
- Extreme Myopia
- Malignant Myopic Degeneration
- Age-Related Developments
By End User
- Hospitals
- Specialty Clinics
- Homecare
- Others
Frequently Asked Questions
The Choroidal Neovascularization market was valued at USD 5.8 billion in 2022 and is expected to grow at a 6.8% CAGR over the forecast period 2023 – 2029.
Higher cases of age-related macular degeneration and increasing use of generic drugs are the key opportunities for the Choroidal Neovascularization market.
Increased drug development and growing demand for hospitals and clinics are the growth drivers in the Choroidal Neovascularization market.
Bausch Health Companies Inc., Bayer AG, Gilead Sciences, Inc., Roche AG, MaaT Pharma, Novartis AG, Pfizer Inc., Quark Pharmaceuticals Inc., and Regeneron Pharmaceuticals Inc. are a few companies operating in the Choroidal Neovascularization market.
- Bausch Health Companies Inc.
- Bayer AG
- Intas Pharmaceuticals
- Gilead Sciences, Inc.
- Roche AG
- MaaT Pharma
- Novartis AG
- Pfizer Inc.
- Quark Pharmaceuticals Inc.
- Regeneron Pharmaceuticals Inc.
- Sanwa Kagaku Kenkyusho Co. Ltd.