Press release
Retinal Neovascularization Market Size, Share, Industry, Forecast and Outlook (2024-2031)
DataM Intelligence
Global Retinal Neovascularization Market Set to Surge, Projected to Reach US$ YY Million by 2030
The global retinal neovascularization market has witnessed substantial growth, reaching US$ YY million in 2022 and is poised to achieve a remarkable US$ YY million by 2030, showcasing a robust CAGR of YY% during the forecast period spanning 2024-2031.
Retinal neovascularization, a pathological condition characterized by the abnormal development of new blood vessels in the retina, poses a significant threat to vision. If left untreated, it can lead to severe vision impairment or blindness, particularly associated with various eye conditions.
The market dynamics driving this growth are multifaceted, with a notable impact from the rising prevalence of diabetes, notably in emerging economies. Diabetic retinopathy, a major contributor to retinal neovascularization, sees an escalating number of patients requiring care in tandem with the increasing diabetic population. Additionally, age-related eye disorders, including wet age-related macular degeneration (AMD), are on the rise, compelling a growing demand for treatments to address retinal neovascularization.
Market Scope and Metrics
CAGR: YY%
Size Available for Years: 2021-2030
Forecast Period: 2024-2031
Data Availability: Value (US$ Mn)
Segments Covered: Disease Type, Treatment Type, Distribution Channel
Regions Covered: North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Fastest Growing Region: Asia-Pacific
Largest Region: North America
Report Insights
The comprehensive market report encompasses Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter's Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and other key insights.
To know more Insights Download Sample: https://www.datamintelligence.com/download-sample/retinal-neovascularization-market
Market Dynamics: Drivers
1. Increasing Focus on Diabetic Retinopathy
Diabetes retinopathy (DR), affecting over 100 million people globally, is a significant microangiopathic consequence of diabetes mellitus, contributing to visual impairment. The progression from non-proliferative to proliferative DR involves neovascularization, marked by various symptoms. Vascular Endothelial Growth Factor (VEGF) plays a crucial role in this process, and FDA-approved medications like pegaptanib demonstrate efficacy in intravitreal treatment.
2. Limited Patient Awareness
Delays in diagnosis and treatment may result from insufficient awareness among patients and healthcare professionals. Limited access to specialist eye care facilities, especially in low-resource settings, poses a challenge. Despite the effectiveness of treatments like anti-VEGF injections, concerns about risks and adverse effects may deter some patients from seeking therapy.
Segment Analysis
The global retinal neovascularization market is segmented based on product type, end-user, and region. Anti-VEGF therapies constitute approximately 48.4% of the market share, with drugs like Aflibercept, Ranibizumab, and Bevacizumab playing a pivotal role in changing the approach to treating wet AMD.
Geographical Analysis
Advanced Healthcare Infrastructure in North America
North America has emerged as a dominant force, addressing retinal neovascularization challenges with advanced healthcare infrastructure. Notably, initiatives like BYOOVIZ and nonclinical data supporting Ixoberogene Soroparvovec highlight the region's commitment to innovative treatments for retinal disorders.
COVID-19 Impact Analysis
The COVID-19 pandemic presented unprecedented challenges, causing delays in detection and treatment. Lockdowns and patient anxiety impacted clinical studies, potentially influencing the development and market introduction of novel therapeutics.
Competitive Landscape
Major global players in the retinal neovascularization market include Regeneron Pharmaceuticals Inc., Biogen, Notal Vision, Inc., Novartis AG, Adverum Biotechnologies, Inc., Genentech, Inc., Bayer AG, and others.
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DataM Intelligence 4Market Research is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
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