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Choroidal neovascular are the new blood vessels that grow just below the retina and interrupt the vision. Choroid, which is responsible for oxygen and nutrients supply to the eye, is the area between the retina and the sclera, where the blood vessels grow and cause choroidal neovascularization (CNV). Choroidal neovascularization break the barrier between retina and choroid and the membrane leaks in the retina causing vision loss. Choroidal neovascularization leads to various severe eye diseases such as histoplasmosis, eye trauma, wet age related macular degeneration and myopic macular degeneration. Myopic macular degeneration is generally found in aged people because of tremendous elongation of their eyeball, leading to loss of vision in them. Mostly, the causes for choroidal neovascular are idiopathic, infections, choroidal tumors, degeneration, and trauma.
Ophthalmology is the branch of medical science that deals with the study and management of physiology, anatomy and the diseases related to human eye. The vision loss and incidence of eye disorders are becoming a major public health issues. The various eye diseases are glaucoma, age-related macular degeneration, cataract, diabetic macular edema, retinal detachment, ocular hypertension, bulging eyes, refractive errors and uveitis. The drugs in the market for choroidal neovascularization are lucentis and macugen, approved for CNV associated with wet AMD, and visudyne, approved for CNV associated with pathologic myopia and presumed ocular histoplasmosis. An Avastin drug is also available which is used as an off-label drug for choroidal neovascularization.
Innovation of products with the focus on enhanced efficiency, and growing demographics and economies in the emerging countries such as China and India are some of the major opportunities for choroidal neovascularization market. Increasing prevalence of choroidal neovascularization cases, high patient and physician satisfaction, increasing aging population and rising government initiatives towards healthcare infrastructure in the developing countries are some of the major factors that are driving the growth of global choroidal neovascularization market. Additionally, increase incidences of lifestyle associated diseases such as high blood pressure and diabetes are also acting as a driver for the growth of global choroidal neovascularization (CNV) market.
Some of the major factors restraining the growth of global choroidal neovascularization market are lack of awareness among people about different types of eye diseases, high cost concerned with the treatment, lack of access to primary healthcare services in developing countries, absence of health insurance and poor primary healthcare infrastructure. Also, rising healthcare cost in developing countries, such as China and India, is also hindering the affordability of healthcare facilities for the aging population.
North America had the largest choroidal neovascularization (CNV) market in 2014, attributed to growing population of baby boomers and increasing incidences of choroidal diseases in the region. The Asia-Pacific choroidal neovascularization market is growing with the highest rate compared to the market in other regions. China and India are the two countries, in Asia-Pacific, witnessing fastest growth of choroidal neovascularization markets. Large population of these countries coupled with raising government initiatives and support are the major driving factors of choroidal neovascularization markets in this region.
Some of the major competitors in choroidal neovascularization CNV market are Bayer AG, Chengdu Kanghong Biotech Co. Ltd., Resolvyx Pharmaceuticals Inc., F. Hoffmann-La Roche Ltd., , Valeant Pharmaceuticals International Inc., Promedior Inc., Mat Biopharma SAS, Quark Pharmaceuticals Inc., Novartis AG, and Gilead Sciences Inc.