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Choroidal neovascularization is a medical condition that is characterized by the formation of new blood vessels in the choroid layer of the eye. This condition is often associated with myopia, malignant myopic degeneration, or age-related macular degeneration (AMD). The global market for choroidal neovascularization is an emerging market and is characterized by the entry of many new vendors.
A notable factor that will impel the prospects for growth in this market is the recent increase in the prevalence of chronic eye diseases. In industrialized and middle-income countries, the incidence of eye diseases is rising with the rising prevalence of chronic illnesses like diabetes and hypertension. These conditions lead to the development of diabetic retinopathy, macular edema, and AMD.
Changing dietary habits, unhealthy lifestyles, and the growing use of electronic equipment such as smartphones, computers, TVs, and video games affect the normal eyesight and increase the chances of developing AMD. Comprehensive market research carried out by the analysts at Technavio has shown that the global market for choroidal neovascularization will grow at a CAGR of nearly 7% until the end of the forecast period.
In this market study, the analysts have also estimated that the presence of eminent factors, such as the augmented use of combination therapies, will also spur market growth until 2020. The choroidal neovascularization drugs market is experiencing a shift toward combination products, which involves the use of two or more effective treatments. Due to the shortcomings of treatment with a single drug, the preference for combination therapies is rising rapidly. Combination therapies block the multiple stimuli that lead to pathologic cellular proliferation and include combination products like PDT with Visudyne and anti-VEGF therapies (Lucentis, Avastin, and Macugen).
In this market research, Technavio’s analysts have estimated the intravitreal route of drug administration to be the most preferred route of drug administration during the forecast period. This mode of drug administration maximizes the therapeutic intraocular concentration and reduces the risk of the drug being spread to other sites in the body. In this method, the drugs are injected into the vitreous of people with eye disorders, diabetic retinopathy, retinal vein occlusion (RVO), uveitis, and AMD. In 2015, this market segment accounted for a profound market share of approximately 87%.
The analysts in this segmentation analysis have estimated the Americas to be the largest market for choroidal neovascularization during the estimated period. The US was the largest revenue contributor to this region in 2015, and the prospects for market growth in this region were driven by the presence of a promising choroidal neovascularization pipeline. Also, factors like improved diagnostic techniques and rising efforts toward prevention of vision loss among the older population will fuel the prospects for market growth in this region.
The global choroidal neovascularization market is growing at a moderate pace because of the increased demand for choroidal neovascularization therapeutics. This rising demand for therapeutics will, in turn, lead to an increase in R&D expenditure.
Other prominent vendors analyzed in this market research report 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.
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Related reports
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Disease overview
PART 06: Product portfolio of approved therapies
PART 07: Pipeline analysis
PART 08: Market landscape
PART 09: Market segmentation by ROA
PART 10: Geographical segmentation
PART 11: Market drivers
PART 12: Impact of drivers
PART 13: Market challenges
PART 14: Impact of drivers and challenges
PART 15: Market trends
PART 16: Vendor landscape
PART 17: Appendix
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