The latest report by IMARC Group, titled “Choroidal Neovascularization Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The global choroidal neovascularization market size reached US$ 6.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.5 Billion by 2028, exhibiting a growth rate (CAGR) of 8.14% during 2023-2028.
Choroidal neovascularization (CNV) is a medical condition characterized by the abnormal growth of new blood vessels in the choroid layer of the eye, which is located just beneath the retina. This condition is of significant concern in the field of ophthalmology as it can lead to severe vision loss and is commonly associated with age-related macular degeneration (AMD). CNV occurs when these abnormal blood vessels break through the Bruch’s membrane, a thin layer separating the choroid from the retina, and leak fluid or blood into the macula, the central part of the retina responsible for sharp and detailed vision. The accumulation of fluid and blood disrupts the normal function of the macula, leading to distorted or blurred vision. CNV can manifest in various forms, including classic CNV, occult CNV, and minimally classic CNV.
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Choroidal Neovascularization Market Trends and Drivers:
The market is witnessing significant developments and growth driven by the aging population in many parts of the world. Age-related macular degeneration, a common underlying condition for CNV, is more prevalent among the elderly. As the global population continues to age, the demand for effective CNV diagnosis and treatment options is expected to increase, presenting opportunities for companies operating in this market. In addition, advancements in diagnostic and imaging technologies are enhancing the early detection of CNV. Optical coherence tomography (OCT) and fluorescein angiography (FA) are among the imaging techniques used to visualize and assess CNV lesions. These technologies allow for more accurate and timely diagnosis, enabling healthcare professionals to intervene with appropriate treatments such as anti-vascular endothelial growth factor (anti-VEGF) therapies. Companies that offer innovative diagnostic tools and imaging equipment for CNV are well-positioned to capitalize on this trend. Additionally, the growing focus on personalized medicine is influencing the CNV market. Tailoring treatment approaches to individual patient profiles, including genetic factors and biomarkers, is gaining prominence. This personalized approach aims to optimize treatment outcomes while minimizing potential side effects. Furthermore, regulatory agencies and healthcare organizations are emphasizing the importance of patient access to effective CNV treatments. This includes efforts to streamline approval processes for new therapies and improve reimbursement mechanisms.
The report has segmented the market into the following categories:
Breakup by Product Type:
Breakup by Type of Diagnosis:
- Fluorescein Angiography (FA)
- Indocyanine Green (ICG) Angiography
- Spectral Domain Optical Coherence Tomography (OCT)
Breakup by Treatment Type:
- Angiogenesis Inhibitors Injection
- Photodynamic Therapy
- Laser photocoagulation
- Low-dose Radiation Therapy
Breakup by Application:
- Extreme Myopia
- Malignant Myopic Degeneration
- Age-Related Developments
Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Competitors Landscape with Key Players:
- Bausch Health Companies Inc.
- Bayer AG
- Gilead Sciences, Inc.
- F. Hoffmann-La Roche AG
- MaaT Pharma
- Novartis AG
- Pfizer Inc.
- Quark Pharmaceuticals Inc. (SBI ALApharma Co. Limited)
- Regeneron Pharmaceuticals Inc.
- Sanwa Kagaku Kenkyusho Co. Ltd. (Suzuken Co. Ltd.)
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