Choroidal Neovascularization Market to Reach USD 18.9 Billion by 2034

Choroidal neovascularization (CNV) refers to the growth of abnormal blood vessels from the choroid into the subretinal space, commonly associated with age-related macular degeneration (AMD), high myopia, ocular trauma, and inflammatory diseases. CNV is a leading cause of vision loss in working-age and elderly populations, making it a critical focus in ophthalmology.

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The introduction of anti-VEGF therapies, laser photocoagulation, photodynamic therapy (PDT), and emerging gene/cell therapies has transformed CNV treatment. With aging populations and rising cases of myopic macular degeneration, the global CNV market is poised for steady growth.

Market Overview
• Market Size (2024): USD 10.4 billion
• Forecast (2034): USD 18.9 billion
• CAGR (2025-2034): 6.2%

Key Highlights:
• Anti-VEGF drugs (ranibizumab, aflibercept, brolucizumab) remain the mainstay of treatment.
• Sustained-release implants and biosimilars are improving accessibility.
• Rising demand for minimally invasive and long-acting therapies.
• Increasing research in gene therapy and regenerative medicine for retinal diseases.

Segmentation Analysis
By Treatment Type:
• Anti-VEGF Therapy (dominant segment)
• Photodynamic Therapy (PDT)
• Laser Photocoagulation
• Corticosteroid Therapy
• Gene & Cell Therapy (pipeline)
• Others (adjunctive therapies)

By Indication:
• Age-Related Macular Degeneration (AMD)
• Pathologic Myopia
• Ocular Histoplasmosis Syndrome
• Others (trauma, inflammatory conditions)

By Route of Administration:
• Intravitreal Injections (largest share)
• Sustained-Release Implants
• Oral/Topical (pipeline approaches)

By Distribution Channel:
• Hospitals
• Specialty Eye Clinics
• Ambulatory Surgical Centers
• Online & Retail Pharmacies

Segmentation Summary:
Anti-VEGF intravitreal injections dominate the market, but the fastest growth lies in sustained-release implants, biosimilars, and future gene therapies, which promise longer efficacy and reduced injection burden.

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Regional Analysis
North America
• Largest market (~42% share in 2024).
• High prevalence of AMD and strong adoption of anti-VEGF therapies.
• Well-established reimbursement systems for ophthalmic drugs.
Europe
• ~31% share.
• Germany, UK, and France lead adoption of biosimilars and implants.
• EU regulatory backing for innovative retinal therapies.
Asia-Pacific
• Fastest-growing region, CAGR ~7.5%.
• Rising cases of myopic CNV in Japan, China, and Southeast Asia.
• Increasing investments in ophthalmology infrastructure and clinical trials.
Latin America
• Brazil and Mexico driving regional demand with expanding access to anti-VEGF therapy.
Middle East & Africa
• Growing adoption in GCC countries.
• Limited access to advanced CNV treatments in low-income areas.
Regional Summary:
North America and Europe dominate today, but Asia-Pacific is the fastest-growing market due to the dual burden of AMD and high myopia-related CNV.

Market Dynamics
Key Growth Drivers:
• Rising prevalence of age-related macular degeneration and myopia-related CNV.
• Strong adoption of anti-VEGF drugs and biosimilars.
• Technological advances in sustained-release and minimally invasive implants.
• Increasing R&D in gene therapy and regenerative retinal medicine.

Key Challenges:
• High treatment costs and injection burden.
• Limited access to advanced therapies in emerging regions.
• Risk of adverse events such as endophthalmitis post-injection.
• Patient compliance issues in chronic therapy regimens.

Latest Trends:
• Development of long-acting anti-VEGF formulations.
• Expansion of biosimilars to reduce therapy costs.
• Growing investment in gene therapies for AMD and CNV.
• Integration of AI-based retinal imaging for early detection and monitoring.

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Competitor Analysis
Major Players in the Market:
• Regeneron Pharmaceuticals, Inc. (Eylea/aflibercept)
• Novartis AG (Lucentis/ranibizumab, Beovu/brolucizumab)
• Roche Holding AG (Vabysmo - faricimab)
• Bayer AG
• Allergan (AbbVie Inc.)
• Alimera Sciences (sustained-release implants)
• Bausch + Lomb
• Adverum Biotechnologies, Inc. (gene therapy candidates)
• REGENXBIO Inc. (RGX-314 gene therapy)
• Ocugen, Inc.

Competitive Summary:
Regeneron and Novartis dominate with anti-VEGF blockbusters. Roche is emerging strongly with dual-targeting faricimab (Vabysmo). Biotech innovators like REGENXBIO and Adverum lead in gene therapy pipelines. Competition is intensifying around long-acting formulations and next-gen biologics.

Conclusion
The Choroidal Neovascularization Market, valued at USD 10.4 billion in 2024, is projected to reach USD 18.9 billion by 2034, growing at a CAGR of 6.2%.

Key Takeaways:
• Anti-VEGF therapies dominate but sustained-release implants and biosimilars are shaping the future.
• North America and Europe lead adoption, while Asia-Pacific grows fastest due to high myopia-related CNV.
• Gene therapy and regenerative approaches represent the next frontier.
• AI-driven early detection will support improved treatment compliance and outcomes.

The coming decade will transform CNV care from frequent anti-VEGF injections to long-acting, cost-effective, and potentially curative therapies, ensuring broader global access to vision-saving treatments.

This report is also available in the following languages : Japanese (脈絡膜血管新生市場), Korean (맥락막 신생혈관 시장), Chinese (脉络膜新生血管市场), French (Marché de la néovascularisation choroïdienne), German (Markt für choroidale Neovaskularisation), and Italian (Mercato della neovascolarizzazione coroidale), etc.

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