Global Cnv Choroidal Neovascularization Market Industry Overview and Forecast to 2031 - Market Analysis and Market Share

Global Cnv Choroidal Neovascularization Market - Industry Overview

Choroidal Neovascularization is the origination of abnormal blood vessels from choroid that occurs because of the damage of the brunch membrane. These abnormally grown blood vessels form a layer above the choroid, which is present beneath the retina, that leads to the detachment of the retinal pigmented epithelium. It is an age-related disorder that involves muscular degeneration, resulting eventually in the vision loss. This age-related muscular degeneration (AMD) is extensively affecting the aging population, which is evident by the fact stating that it affected the quality of life of 196 million people by 2020. It is projected wet AMD will cause vision loss for 90% of cases in the coming few decades. With rising cases, the consequent demand for advanced diagnosis techniques, like Fluorescein Angiography as well as effective treatment methods is giving Global Cnv Choroidal Neovascularization Market growth a significant boost. The market growth can be further anticipated to grow because of rise in the need for efficient CNV treatments, such as anti-VEGF (vascular endothelial growth factor) medications and laser treatments supported by drastic improvements in diagnostic imaging technologies.

Data Bridge Market Research Market Report provides details of new recent developments, market share, market trends on the basis of its segmentations and regional analysis, the impact of market players, analyses of opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market, contact Data Bridge Market Research's team of expert analysts. Our team will help you make informed market decisions to achieve business growth.

Global Cnv Choroidal Neovascularization Market Size and Market Analysis

Pharmaceutical companies and medical device manufacturers are concentrating on developing breakthrough treatments and cures that is contributing enormously to the growth of Cnv Choroidal Neovascularization market. Latest studies show that AMD increased with age, from 2% between the age of 40-44 to 46% among people aged less than 85. Anti-VEGF (vascular endothelial growth factor) medications remain the golden therapy for curing Choroidal Neovascularization. However, the research using experimental models for further analyzing the disorder is paving way for the invention of advanced treatment methods. Research and experiments combined with increased healthcare spending and global awareness of ocular health are fueling the market growth. As a result, Databridge Market Research dived into comprehensively analyzing the market and unveiled that the Global Cnv Choroidal Neovascularization Market is increasing at a CAGR of 8.00%. Our detailed analysis forecasts that the market is valued at USD 6.57 million in 2023 and is expected to grow up to USD 12.17 million by 2031. Our meticulously created report, developed through comprehensive research and analytics, is a distinguished paper that unveils eye-opening data about the market.

Global Cnv Choroidal Neovascularization Market Dynamics

Global Cnv Choroidal Neovascularization Market Growth Drivers

Rising Prevalence Rate

Age-related muscle degeneration is most common in middle-aged and older patients. An estimated 10% of older people with wet AMD develop Choroidal Neovascularization. It is considered to be the most common cause of blindness in developed countries, and its prevalence is expected to reach 288 million individuals worldwide. This significantly high prevalence is an alarming signal for people to pay attention to symptoms of CNV, which include waviness of central vision or spots on the central vision. Rising concerns regarding this disorder will make people more alert and help them seek a diagnosis, which will drive market growth.

Ongoing Experimentation and Research

Once people start identifying the symptoms of CNV, they make no delays in undergoing a thorough diagnosis. The most prevalent diagnosis techniques include the identification of a blister filled with fluid during a detailed eye examination and ICG angiography, wherein a dye is injected in a vein followed by conducting eye imaging to detect any leakage from the blood vessels in the retina. If a person is diagnosed with CNV, the course of treatment includes injecting anti-VEFG drugs into the eye. These already existing treatment and diagnosing methods, however, remain the subject of experimentation, fostering the advancement of detection and cure. But further research and experimentation is being conducted as well, funded by prolific investment in the healthcare infrastructure.       

Rise in Ageing Population

The global aging population significantly impacts the demand for choroidal neovascularization (CNV) treatments, as older adults are more prone to retinal diseases such as age-related muscular degeneration (AMD), which is a leading cause of vision loss in this demographic. According to the World Health Organization, the number and proportion of people aged 60 years and older in the population is increasing. In 2019, the number of people aged 60 years and older was 1 billion. This number will increase to 1.4 billion by 2030 and 2.1 billion by 2050. Consequently, this drives the global Cnv Choroidal Neovascularization market growth.

Global Cnv Choroidal Neovascularization Market Growth Opportunities

Anti-VEGF Drug Pipeline

Branded drug manufacturers and generic drug producers are increasingly collaborating on the production of generics following patent expirations, which is expected to boost the growth of the generics market. Additionally, major companies are shifting their focus toward developing generics due to rise in the availability of off-patented drugs. Drugs that are commonly used in anti-VEGF therapy are brolucizumab, aflibercept, and ranibizumab.

Increased Awareness and Diagnosis

Increased awareness and advancements in diagnostic technologies have significantly contributed to the early detection of choroidal neovascularization (CNV), thereby expanding treatment opportunities and driving market growth. Enhanced public awareness campaigns and educational programs have improved recognition of symptoms and the importance of regular eye exams, leading to timely diagnosis. Additionally, innovations in imaging technologies, such as optical coherence tomography (OCT) and fluorescein angiography, allow for more precise and timely identification of CNV. These technological advancements facilitate prompt intervention and effective management of the condition, ultimately boosting the demand for CNV treatments and supporting the overall growth of the market.

Global Cnv Choroidal Neovascularization Market Growth Challenges

Treatment Associated Complications

Complications like intestinal gas distension from argon flow during endoscopic procedures can cause patient discomfort and bloating, which may deter individuals from undergoing such procedures. Discussed discomfort can lead to decreased patient satisfaction and potentially lower procedure volumes, hindering market growth.

High treatment costs

High treatment costs pose a significant challenge to the global choroidal neovascularization (CNV) market. Advanced therapies, such as anti-VEGF injections, are essential for managing CNV but can be prohibitively expensive. For instance, the cost of a single dose of anti-VEGF drugs like Lucentis or Eylea is really high, and patients often require multiple injections over several months. As a result, the financial burden associated with these therapies can impede patient uptake, reduce overall treatment rates, and consequently affect the overall growth of the CNV market.

Global Cnv Choroidal Neovascularization Market Growth Restraints

Regulatory hurdles

Regulatory hurdles present a significant challenge to the growth of the global choroidal neovascularization (CNV) market, as stringent requirements and lengthy approval processes can delay the introduction of new treatments. For instance, the U.S. Food and Drug Administration (FDA) typically requires extensive clinical trials, which can span several years and involve complex protocols to ensure safety and efficacy. Consequently, these regulatory challenges can slow the adoption of innovative treatments and impact the overall growth of the CNV market.

 Global Cnv Choroidal Neovascularization Market Scope and Trends

• Combining fluorescein angiography with OCT has become prevalent, allowing for simultaneous assessment of retinal structure and blood This integration provides complete picture of retinal health and enhances the accuracy of diagnoses.
• The introduction of swept-source OCT technology has enhanced imaging depth and resolution. SS-OCT uses longer wavelengths of light to provide clearer images of deeper retinal structures and choroidal layers, improving the assessment of conditions like choroidal neovascularization and macular degeneration.
• The introduction of biosimilars, such as Cimerli (a biosimilar to Lucentis), is expected to increase accessibility and reduce costs for anti-VEGF treatments. Biosimilars offer comparable efficacy and safety to original biologic drugs at potentially lower prices.
• Newer photosensitizers, such as Brevundimonas vesicularis (Verteporfin), have been developed with enhanced safety profiles and greater efficacy. The compounds are designed to improve the precision of PDT by increasing the selective uptake and activation in target tissues.

Global Cnv Choroidal Neovascularization Market Regional Analysis – Market Trends

Key Insights

• In North America, particularly the United States and Canada, the choroidal neovascularization (CNV) market is prominent due to leading-edge healthcare infrastructure and high patient awareness. The U.S. market benefits from significant investment in research and development, with high adoption rates of advanced anti-VEGF therapies such as Lucentis and Eylea.
• Europe, with key markets in Germany, France, and the United Kingdom, exhibits a strong CNV market driven by well-established healthcare systems, government funding for research, and increasing public awareness about retinal diseases. The region has seen growing adoption of new therapies and a proactive approach to managing age-related eye conditions, contributing to the market's expansion.
• The Asia-Pacific region, including China, Japan, and India, is experiencing rapid growth in the CNV market due to expanding healthcare infrastructure, a rising prevalence of age-related eye diseases, and increasing investments in medical technologies. Economic development and improvements in healthcare access are fueling market expansion and increasing the availability of advanced treatments.
• The CNV market in the Middle East and Africa, including South Africa, Saudi Arabia, and the United Arab Emirates, is developing as healthcare investments rise and awareness about eye health improves. Increased funding for healthcare infrastructure and expanding access to advanced treatments are contributing to steady market growth in the region.

Global Cnv Choroidal Neovascularization Market Leading Players

• Pfizer Inc (U.S.)
• AstraZeneca (U.K.)
• Bristol-Myers Squibb Company (U.S.)
• Inc (Ireland)
• Reddy's Laboratories Ltd (India)
• Endo International plc (Ireland)
• Teva Pharmaceutical Industries Ltd (Israel)
• Sun Pharmaceutical Industries Ltd (India)
• Mylan N.V. (U.S.)
• Novartis AG (Switzerland)
• Regeneron Pharmaceuticals Inc (U.S.)

Global Cnv Choroidal Neovascularization Market Recent Developments

• In 2024, The European Medicines Agency (EMA) approved an extended dosing interval for Eylea (aflibercept), allowing for less frequent administration. This approval aligns with the trend towards longer-acting therapies and improved patient convenience.
• In January 2022, Faricimab (Vabysmo), approved by the FDA in January 2022, offers extended treatment intervals, potentially reducing the frequency of injections from monthly to every two months.
• REGENXBIO has released a Lancet publication detailing the Phase I/II study of ABBV-RGX-314, a single gene therapy for wet AMD. ABBV-RGX-314 therapy has the potential to set a new standard in anti-VEGF treatments by offering long-term vision preservation and addressing the clinical challenges associated with the frequent injections required for managing wet AMD.

SKU-55227