Corneal Neovascularization Market Estimated to Flourish by 2024

Corneal neovascularization is a disorder of the eyes, which is mainly characterized by the incursion of novel blood vessels into the cornea of the individuals suffering from the disease. This disorder is majorly caused due to disruption of the balance between the factors that protects and maintain the corneal transparency. The two factors that need to be balanced include angiogenic and antiangiogenic factors. The incursion of new blood vessels, which are relatively immature, hence can cause lipid exudation as well. Other major symptoms include scarring in eyes, persistent inflammation, which leads to diminishing corneal transparency and visual perception. The corneal neovascularization disorders if left untreated it may lead to high growth of new blood vessels that may reach visual axis to permanently threat the vision of the affected individual. Presently, several patients suffering from various eye problems, many a times undergo corneal grafts; corneal neovascularization may lead to rejection of such grafts as well. Thus, timely and proper treatment (may include surgical intervention and therapeutic drugs) of corneal neovascularization is necessary for effective management of the disease to ensure proper eye vision.

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Major driving factors for the growth of corneal neovascularization market include increasing incidences of ophthalmic disorders, rising number of corneal grafts, aging population, increasing obesity rate, increasing number of diseases such as diabetes and hypertension and increasing demand for advanced treatment options. Ophthalmic disorders are one of the leading disorders that affect very large population globally; several eye related disorders require ophthalmic interventions that may increase the risk of developing corneal neovascularization, hence accompanied by graft rejections. Increasing geriatric population will also contribute towards the growth of this market as aged individuals are more prone to several disorders and hence, tend to suffer from ophthalmic disorders. Increasing obesity rates are also adding to various eye related disorders mainly the lipid deposition increase the chances of developing corneal neovascularization, hence will contribute towards the growth of this market. Several diseases like diabetes, hypertension and others also lead to ophthalmic diseases, in turn require diagnostics and therapeutics from this market, thus will contribute towards the growth of corneal neovascularization market. Several pharmaceutical companies are having many therapeutic drugs for the effective treatment of this disorder in different phases of clinical trials, which will soon hit the market.

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Geographically, North America and Europe are expected to dominate the corneal neovascularization market. Major factors responsible for their expected dominance in the corneal neovascularization market are high prevalence of ophthalmic disorders in the region, aging population, rising overweight as well obese population, and high awareness levels of the population. However, emerging economies like China, India, Brazil, Mexico, Russia, and Malaysia among others from Asia-Pacific, LATAM, Middle East and other regions will present tremendous opportunities towards the growth of this market. Major factors responsible for the growth of the corneal neovascularization market in these regions are availability of high patient population, high prevalence of diseases like diabetes and hypertension, increasing healthcare awareness in these regions and increasing purchasing power of the people in APAC and RoW.

Some of the major players operating in this market include, Amakem NV, F. Hoffmann-La Roche Ltd., GTx, Inc., and Sirnaomics, Inc. that have their drugs in different phases of clinical trials, which will soon be commercialized in the global corneal neovascularization market.

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