How Will The Choroidal Neovascularization Market Expand At A CAGR Of 7.5% Through 2029?
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How Will The Choroidal Neovascularization Market Valuation Change Between Now And 2029?
Over the past few years, the market size for choroidal neovascularization has seen considerable growth. The market valuation is anticipated to shift from $3.88 billion in 2024, to $4.18 billion in 2025, showcasing a compound annual growth rate (CAGR) of 7.7%. The substantial growth experienced in the past can be credited to factors such as a rise in sedentary lifestyle diseases, an increase in age-related macular degeneration instances, a spike in retinal diseases prevalence, a surge in the elderly population, increased eye care expenses, and larger education and screening programs.
The market size for choroidal neovascularization is projected to experience significant growth in the upcoming years, expanding to $5.59 billion by 2029 with a 7.5% Compound Annual Growth Rate (CAGR). This anticipated growth during the forecast period is due to factors such as increased patient awareness, widespread use of optical coherence tomography angiography, a rising demand for minimally invasive procedures, advantageous reimbursement policies, and an increasing older adult population. Main trends predicted during the forecast period encompass the introduction of intravitreal anti-vascular endothelial (VEGF) therapies, innovative gene treatments, gene therapy techniques, incorporation of telemedicine, the formulation of combined therapies, and individualized treatment strategies.
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What Growth-Enabling Forces Are Impacting The Choroidal Neovascularization Market?
The choroidal neovascularization (CNV) market is anticipated to grow due to an increase in age-related macular degeneration (AMD). AMD is an eye disorder that progressively harms the macula, typically in older individuals, leading to loss of central vision. The surge in AMD cases can be attributed to an aging populace, improved lifespan, changes in lifestyle, genetic predisposition, and increased environmental risk exposure. CNV helps support individuals with AMD by promoting the onset of wet AMD – characterised by the growth of abnormal blood vessels under the retina that causes vision to deteriorate. Advanced treatments like anti-VEGF therapy are often needed to manage CNV and slow down AMD progression, helping to maintain central eyesight in patients. The National Institutes of Health, a US governmental agency, reported in September 2022 that the number of AMD cases might rise to 300 million by 2040 and 5.4 million Americans could be impacted by 2050. Consequently, this rising pattern of AMD is bolstering the growth of the CNV market.
What Are The Main Segment Classifications In The Choroidal Neovascularization Market?
The choroidal neovascularizationmarket covered in this report is segmented –
1) By Treatment Type: Anti-Angiogenic Therapy; Laser Photocoagulation; Photodynamic Therapy; Verteporfin Sodium; Ranibizumab; Bevacizumab; Aflibercept; Pegaptanib Sodium
2) By Indication: Age-Related Macular Degeneration (AMD); Diabetic Macular Edema (DME); Central Serous Chorioretinopathy (CSC); Polypoidal Choroidal Vasculopathy (PCV); Myopic Macular Degeneration (MMD); Other Indications
3) By Route Of Administration: Intravitreal; Subconjunctival; Periocular; Oral
4) By End User: Hospitals; Ophthalmology Clinics; Ambulatory Surgical Centers; Research Centers
Subsegments:
1) By Anti-Angiogenic Therapy (Anti-VEGF Therapy): Ranibizumab; Bevacizumab; Aflibercept; Pegaptanib Sodium
2) By Laser Photocoagulation: Thermal Laser Photocoagulation; MicroPulse Laser Therapy
3) By Photodynamic Therapy (PDT): Standard PDT; Low-Fluence PDT; Half-Dose PDT
4) By Verteporfin Sodium: Intravenous Administration; Combination Therapy With Anti-VEGF
5) By Ranibizumab: Monthly Dosing; As-Needed Dosing; Treat-and-Extend Regimen
6) By Bevacizumab: Off-Label Use; Compounded Intravitreal Injections
7) By Aflibercept: Fixed-Dosing Regimen; Treat-and-Extend Regimen
8) By Pegaptanib Sodium: Monotherapy; Combination Therapy
How Are Industry Trends Steering The Expansion Of The Choroidal Neovascularization Market?
Leaders in the choroidal neovascularization industry are putting their efforts towards creating cutting-edge therapies such as photodynamic therapy, aiming to offer eye care practitioners effective, meticulous treatment choices that boost patient satisfaction and treatment administration. Photodynamic therapy (PDT) is a clinical procedure that involves the use of a photosensitive agent, activated by light, to eradicate abnormal or malignant cells. For example, in February 2023, Bausch & Lomb, a healthcare firm based in Canada, together with Modulight, a biomedical company from Finland, declared that their ML6710i photodynamic laser received approval from the Food and Drug Administration, a regulatory body in the United States. This therapeutic procedure, in conjunction with Bausch + Lomb’s VISUDYNE therapy, received approval for the treatment of choroidal neovascularization caused by age-related macular degeneration (AMD). This novel, mobile eye laser presents a targeted method for treating unusual blood vessels found in the eye, which serves as a preemptive measure against further progression of the disease, and maintaining eyesight.
Which Firms Are Driving Innovation Within The Choroidal Neovascularization Market?
Major companies operating in the choroidal neovascularization market are Pfizer Inc., Roche Holding AG, AbbVie Inc., Bayer Aktiengesellschaft, Novartis AG, Teva Pharmaceutical Industries Limited, Regeneron Pharmaceuticals Inc., Astellas Pharma Inc., Biogen Inc., Chugai Pharmaceutical Co. Ltd., Alcon Inc., Genentech Inc., Bausch + Lomb Incorporated, Samsung Bioepis Co. Ltd., Santen Pharmaceutical Co. Ltd., Apellis Pharmaceuticals Inc., Kodiak Sciences Inc., Xbrane Biopharma AB, Allergan Inc., Adverum Biotechnologies Inc., Clearside Biomedical Inc., Sylentis S.A.
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What Are The Emerging Regional Trends Driving The Choroidal Neovascularization Market?
North America was the largest region in the choroidal neovascularization market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the choroidal neovascularization market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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