About Choroidal Neovascularization
Choroidal neovascularization is the formation of new blood vessels in the choroid layer of the eye. These vessels grow through the Bruch membrane into the subretinal space, blocking the proper functioning of retina and leading to vision loss. The condition is often associated with myopia, malignant myopic degeneration, or age-related macular degeneration (AMD).
Technavio’s analysts forecast the global choroidal neovascularization market to grow at a CAGR of 6.64% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global choroidal neovascularization market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of branded, generic, and off-label drugs used for the treatment and prevention of choroidal neovascularization.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Choroidal Neovascularization Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Choroidal Neovascularization Market: Bayer HealthCare, Novartis, Regeneron Pharmaceuticals and F. Hoffmann-La Roche.
Other Prominent Vendors in the market are: Alcon, Allergan, Avalanche, Bausch and Lomb, Gilead Sciences, Iconic Therapeutics, Lpath, Neurotech Pharmaceuticals, Ohr Pharmaceutical, Opthea, Ophthotech, PanOptica, Pfizer, Promedior, QLT, Quark, Resolvyx Pharmaceuticals, RXi Pharmaceuticals, Sagent Pharmaceuticals, Santen and Sanwa Kagaku Kenkyusho.
Commenting on the report, an analyst from Technavio’s team said: “The market presents significant growth opportunities for vendors. Companies are increasingly forming strategic alliances and engaging in M&A to increase their market share. As the development cost of ophthalmic drugs is high, small biotechnology firms are forming alliances with big pharmaceutical companies for product development.”
According to the report, Better infrastructure in terms of healthcare facilities and sophisticated treatment options has led to a rise in the life expectancy rates, leading to a rise in the number of people over 60 years. The normal aging process results in reduced choroidal blood flow, which leads to ischemia. This, in turn, leads to increased expression of VEGF and development of excess blood vessels resulting in choroidal neovascularization and finally the loss of vision. With the increase in older population, the demand for choroidal neovascularization drugs is also increasing.
Further, the report states that High cost of treatment restricts the market growth.
Bayer HealthCare, Novartis, Regeneron Pharmaceuticals, F. Hoffmann-La Roche, Alcon, Allergan, Avalanche, Bausch and Lomb, Gilead Sciences, Iconic Therapeutics, Lpath, Neurotech Pharmaceuticals, Ohr Pharmaceutical, Opthea, Ophthotech, PanOptica, Pfizer, Promedior, QLT, Quark, Resolvyx Pharmaceuticals, RXi Pharmaceuticals, Sagent Pharmaceuticals, Santen, Sanwa Kagaku Kenkyusho.
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