Data Bridge Market Research analyses a growth rate in the global CNV (choroidal neovascularization) market in the forecast period 2022-2029. The expected CAGR of global CNV (choroidal neovascularization) market is tend to be around 8% in the mentioned forecast period. The market was valued at USD 5.64 million in 2021, and it would grow upto USD 10.44 million by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Choroidal NeoVascularization (CNV) is witnessed in individuals having diabetic retinopathy. In rare cases, it can occur among individuals having defects in Bruch's membrane, which is the innermost layer of the choroid. The American Academy of Ophthalmology has also observed that patients with Choroidal NeoVascularization (CNV) in one eye have a very high probability to contract choroidal neovascularization (CNV) in the other eye within a short frame of time. Currently, the market players that manufacture Ranibizumab are Novartis (licensed) in global choroidal neovascularization (CNV) market and Genetech (patented) in the U.S.
CNV (choroidal neovascularization) is the type of condition wherein new blood vessels initiate in the choroid. When a patient suffering from AMD produces too much vascular endothelial growth factor, and then grows in the retina. These new blood vessels look normal but they are leaky and allow fluid from the blood. When fluid or red blood cells enter the retina, it immediately alters the vision because it forms a “blister” in the retina, which is normally flat.
Opportunities
Higher Cases of Age-related macular degeneration
As per the reports of the British Journal of Ophthalmology published in 2007, age-related macular degeneration (AMD) is one of the top causes of irreversible sight loss among adults registered as legally blind. In 2007, almost 250,000 people were suffering from neovascular AMD in the U.K, with an occurrence rate of 25,000 and 30,000 new cases annually. All these factors are also contributing in the growth of the market.
The Wide Application of Generic Drugs
Branded drug manufacturers and generic producing firms are joining up together for the production of generic drugs after patent expiry, which is projected to lift the growth of generics. In addition, major firms are gradually focusing on developing generics due to the increase in off-patented drugs in the market. Although, marketing exclusivity given by the FDA to patent holders for several indications is predicted to hamper market growth to a slight extent.
North America is considered to have the highest lucrative growth in the forecast period because of the increasing investments by hospitals to purchase new endoscopic equipment and rising research activities to enhance endoscopy. Asia-Pacific is dominating the market due to the presence of key generic pharmaceuticals companies in this region.
The major players operating in the CNV (Choroidal NeoVascularization) Market are Pfizer Inc (U.S.), AstraZeneca (U.K.), Bristol-Myers Squibb Company (U.S.), AbbVie.Inc (U.S.), Dr. 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.) among others.
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