Choroidal Neovascularization Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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 8.0% during 2022-2028.

Choroidal neovascularization (CNV) refers to the creation of new blood vessels in the choroid layer of the eyes affecting the Bruch's membrane and retinal pigment epithelium (RPE). Its symptoms include lipid exudation, subretinal blood and fluid, and distortion, waviness and black spots in the central vision. At present, a combination of procedures, such as fluorescein angiography (FA), indocyanine green (ICG) angiography and optical coherence tomography (OCT) scanning, are utilized for diagnosing CNV. As per the results, doctors then prescribe anti-vascular endothelial growth factor (VEGF) drugs, thermal laser treatment and photodynamic therapy (PDT), to prevent the growth of the blood vessels.

The market is experiencing growth on account of the rising prevalence of age-related macular degeneration (ARMD), ocular histoplasmosis, pathologic myopia, angioid streaks, choroidal tears and inflammatory diseases of the choroid and retina. Moreover, the increasing geriatric population, which is more vulnerable to serious health conditions, is acting as another key factor bolstering the market growth. Furthermore, the growing adoption of combination drugs, along with the introduction of long-lasting anti-VEGF drugs, is propelling the demand for CNV treatments worldwide. Other factors, such as improving healthcare infrastructure and the increasing investments in research and development (R&D) activities, are also contributing to the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global choroidal neovascularization market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, type of diagnosis, treatment type and application.

Breakup by Product Type:

Intravenous

Intravitreal



Breakup by Type of Diagnosis:

Fluorescein Angiography (FA)

Indocyanine Green (ICG) Angiography

Spectral Domain Optical Coherence Tomography (OCT)

Others



Breakup by Treatment Type:

Angiogenesis Inhibitors Injection

Photodynamic Therapy

Laser photocoagulation

Low-dose Radiation Therapy

Surgery



Breakup by Application:

Extreme Myopia

Malignant Myopic Degeneration

Age-Related Developments



Breakup by Region:

North America

United States

Canada

Asia Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa



Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being 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. and Sanwa Kagaku Kenkyusho Co. Ltd. (Suzuken Co. Ltd.).

Key Questions Answered in This Report:

How has the global choroidal neovascularization market performed so far and how will it perform in the coming years?

What has been the impact of COVID-19 on the global choroidal neovascularization market?

What are the key regional markets?

What is the breakup of the market based on the product type?

What is the breakup of the market based on the type of diagnosis?

What is the breakup of the market based on the treatment type?

What is the breakup of the market based on the application?

What are the various stages in the value chain of the industry?

What are the key driving factors and challenges in the industry?

What is the structure of the global choroidal neovascularization market and who are the key players?

What is the degree of competition in the industry?