Choroidal neovascularization is a disease that results in the formation of new blood vessels in the brunch membrane of choroid layer of eye. It occurs due to the secretion of excess amount of vascular endothelial growth factor. It can also occur, when a patient suffers with wet macular degeneration. Also, choroidal neovascularization can be caused due to genetic diseases such as optic disc drusen and pseudoxanthoma elasticum. It is also associated with myopia (at extreme stage) and malignant myopic degeneration. The primary symptoms of the disease are deterioration of central vision, color disturbances, metamorphopsia, apparent change in image size and paracentral or central scotoma. Choroidal neovascularization can be classified as extrafoveal, juxtafoveal and subfoveal, based on their location from the center of fovea.

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The disease is diagnosed through fluorescein angiography, indocyanine green angiography and optical coherence tomography. The disease is treated through anti-VEGF therapy, photodynamic therapy and corticosteroids. Currently the adoption rate for anti-VEGF therapy is high followed by photodynamic therapy. Drugs that are advised during anti-VEGF therapy include Avastin, Macugen and Lucentis. Visudyne, a photosensitive drug is given to the patients who are undergoing photodynamic therapy. Other treatment methods include laser photocoagulation, surgical excision of subfoveal choroidal neovascularization, surgical translocation of the fovea, and low-dose radiation therapy.

Rise in geriatric population will drive the growth of this market. This is due to the fact that the occurrence of disease increases with age, and hence will increase the demand for diagnostics and treatment of the disease. Also, increasing initiatives for R&D for the drugs treating choroidal neovascularization by various companies will also propel the growth of the market. The major players operating in the choroidal neovascularization market include Affitech A/S, F. Hoffmann-La Roche Ltd., Lpath, Inc., Mat Biopharma, Promedior, Inc., Regeneron Pharmaceuticals, Inc., Resolvyx Pharmaceuticals, Inc and Sanwa Kagaku Kenkyusho Co., Ltd among other significant players.