Choroidal Neovascularization Market - Global Forecast 2026-2032

The Choroidal Neovascularization Market size was estimated at USD 6.88 billion in 2025 and expected to reach USD 7.36 billion in 2026, at a CAGR of 7.86% to reach USD 11.69 billion by 2032.

Choroidal neovascularization represents a significant pathological process whereby new blood vessels originating from the choroid breach through Bruch’s membrane to invade the subretinal pigment epithelium or neurosensory retinal space. This aberrant neovascular growth underlies the neovascular, or “wet,” form of age-related macular degeneration, the leading cause of severe central vision loss among adults over the age of 50 in developed countries. Beyond macular degeneration, choroidal neovascularization also manifests in patients with pathological myopia, ocular inflammatory diseases, and genetic conditions that compromise the integrity of Bruch’s membrane.

Intravitreal injections of anti–vascular endothelial growth factor agents have become the cornerstone of choroidal neovascularization management, dramatically shifting the treatment paradigm since the mid-2000s. Pioneering therapies such as ranibizumab and bevacizumab established proof of concept by effectively inhibiting VEGF-A–driven angiogenesis and vascular leakage, prompting rapid integration of these agents into clinical practice. However, the need for frequent injections and personalized dosing regimens has underscored the ongoing challenge of treatment burden, patient adherence, and long-term visual outcomes.

Amid these constraints, novel therapeutic modalities have emerged to enhance durability and reduce injection frequency. Bispecific antibodies such as faricimab, which simultaneously target VEGF-A and angiopoietin-2, have demonstrated extended dosing intervals in pivotal phase III trials and real-world analyses. Additionally, sustained-delivery platforms like the Port Delivery System for ranibizumab offer potential for refill intervals spanning six to nine months, marking a transformative advancement in continuous therapy delivery and patient convenience. These innovations signal a new era in choroidal neovascularization management, but they also raise critical considerations around safety, regulatory alignment, and long-term efficacy that must be rigorously assessed.

Recent years have witnessed a profound paradigm shift in the choroidal neovascularization landscape, driven by both scientific innovation and evolving clinical insights. The integration of advanced imaging technologies, notably optical coherence tomography angiography, has enabled clinicians to detect subclinical neovascular networks earlier and tailor interventions with greater precision, reducing the risk of irreversible photoreceptor damage. Parallel advancements in machine learning algorithms have automated fluid quantification, vessel segmentation, and lesion activity assessments, empowering ophthalmologists to adopt data-driven treatment-adjustment protocols that balance efficacy with minimized injection burden.

Concurrently, clinical strategies have transitioned from fixed-interval dosing toward individualized treat-and-extend and pause-monitor regimens, which optimize therapeutic intervals based on each patient’s disease activity and response profile. These dynamic paradigms place patient convenience and real-world adherence at the forefront, acknowledging that excessive injection frequency can undermine long-term visual outcomes by increasing dropout rates.

Pharmacological breakthroughs have further redefined treatment expectations. Bispecific therapies addressing dual angiogenic pathways, sustained-release tyrosine kinase inhibitors delivered via bioerodible implants, and gene therapy vectors capable of continuous anti-VEGF expression are progressing from preclinical stages into early human studies. Each innovation not only challenges the conventional anti-VEGF monotherapy model, but also raises new questions regarding safety tolerability, economic feasibility, and reimbursement frameworks. Together, these technological and clinical advances are reshaping the future of choroidal neovascularization care, forging a pathway toward more durable, personalized, and cost-effective treatment options.

The introduction of broad-based U.S. tariffs in 2025 on critical healthcare imports has introduced new complexities into the choroidal neovascularization supply chain. Under the global 10% tariff enacted April 5, 2025, active pharmaceutical ingredients, including monoclonal antibodies and fusion proteins essential for anti-VEGF therapies, are subject to additional duties that elevate manufacturing costs and compel re-evaluation of sourcing strategies. Heightened levies of up to 25% on APIs imported from China and India further strain cost structures, particularly impacting generic anti-VEGF alternatives and creating downstream pressures on branded therapy pricing and patient access.

These policy shifts have prompted major pharmaceutical manufacturers to diversify sourcing footprints, investing in domestic API production and “China+1” strategies, yet such realignment entails significant capital outlays and multi-year regulatory approvals for new manufacturing sites. Meanwhile, healthcare providers face potential downstream cost hikes as facilities absorb or pass through increased drug expenses, risking restricted access for patients reliant on affordability of intravitreal therapies. Drug shortages may become more frequent if lower-margin manufacturers withdraw products in response to thinner profit margins, compromising continuity of care for individuals with choroidal neovascularization.

Looking ahead, industry stakeholders must navigate a delicate balance between supply chain resilience and cost containment. Strategic collaborations with CDMOs, proactive engagement with regulatory authorities to expedite approvals for alternative sources, and deployment of value-based contracting models may mitigate tariff-driven disruptions. These collective efforts will be crucial to safeguarding patient access to life-preserving therapies amid an evolving trade policy environment.

The choroidal neovascularization market exhibits deep segmentation, reflecting distinct patient needs, therapeutic modalities, and care settings. Across treatment types, the anti-VEGF therapy segment remains the cornerstone, encompassing agents such as aflibercept, bevacizumab, brolucizumab, conbercept, and ranibizumab, each offering nuanced safety and dosing profiles. Combination regimens that integrate photodynamic therapy with anti-VEGF injections provide alternative options for refractory cases, while standalone photodynamic therapy with verteporfin continues to play a role in specific subtypes of neovascular lesions.

Therapeutic modalities can also be differentiated by drug class: monoclonal antibodies and antibody fragments dominate established regimens, whereas fusion proteins represent an increasingly prominent category, exemplified by aflibercept’s decoy-receptor mechanism. Disease-specific segmentation highlights neovascular age-related macular degeneration as the primary indication, with pathological myopia constituting a secondary yet clinically impactful cohort requiring tailored dosing strategies to account for anatomical variations in highly myopic eyes. Lesion classification further refines treatment pathways: classic, mixed, and occult choroidal neovascular membranes each present unique angiographic characteristics and prognostic considerations that influence first-line and subsequent therapy selections.

Therapeutic sequencing across first-, second-, and third-line settings reveals evolving preferences: first-line use is dominated by approved anti-VEGF agents, while non-responders often transition to second-line options such as higher-dose formulations or bispecific molecules, and third-line approaches frequently involve combination or emerging sustained-release platforms. Distribution channels mirror these complexities, spanning hospital pharmacies equipped for compounding specialized formulations and retail pharmacies serving routine refill requirements. Finally, end-user segmentation underscores the role of ambulatory surgical centers, hospitals, and ophthalmology clinics as distinct care venues where patient pathways, reimbursement frameworks, and service models intersect to determine treatment accessibility and adherence.

Regional dynamics profoundly shape the landscape of choroidal neovascularization care, with the Americas delivering a mature market characterized by broad access to first-in-class anti-VEGF therapies and a well-established reimbursement framework that supports high-frequency treatment regimens. Nonetheless, payer scrutiny and pricing pressures in the United States have accelerated interest in extended-interval and sustained-delivery alternatives, as stakeholders seek to optimize total cost of care while maintaining clinical outcomes.

In Europe, Middle East, and Africa, heterogeneous regulatory environments and variable healthcare budgets drive divergent adoption rates. Western European nations maintain robust access to innovative modalities, albeit within stringent health technology assessment paradigms that demand real-world evidence of value, while emerging markets in Eastern Europe, the Middle East, and Africa confront affordability constraints that often relegate treatment access to advanced disease stages.

The Asia-Pacific region stands at the forefront of growth potential, propelled by rising prevalence of age-related macular degeneration in aging cohorts and increasing diagnostic capacity. Local manufacturing initiatives and government initiatives to enhance domestic pharmaceutical capacity are fostering competitive pricing, yet challenges remain in harmonizing regulatory approval timelines and establishing infrastructure for specialized services such as port delivery platform implantation. These regional nuances necessitate tailored go-to-market strategies and stakeholder partnerships to unlock market opportunities and improve patient outcomes.

Leading biotechnology and pharmaceutical companies are actively advancing the choroidal neovascularization therapeutic frontier through differentiated R&D pipelines and strategic collaborations. Regeneron’s EYLEA HD 8 mg formulation exemplifies efforts to extend dosing intervals, yet the FDA’s complete response letter in April 2025 underscores the importance of robust clinical data when seeking label expansion for up to 24-week regimens. Concurrently, early real-world evidence from nearly 40,000 patients validates EYLEA HD’s potential to maintain vision gains while reducing injection frequency, reinforcing Regeneron’s commitment to outcome-driven innovation.

Roche has solidified its position with Vabysmo (faricimab), the first bispecific antibody targeting VEGF-A and angiopoietin-2, achieving non-inferior visual gains and enabling 12- to 16-week dosing intervals in nAMD and DME. CHMP’s positive recommendation for Vabysmo’s extension to retinal vein occlusion indications further strengthens Roche’s diversified retina portfolio. Additionally, the Port Delivery System for ranibizumab has gained expanded FDA approvals for diabetic retinopathy and macular edema, showcasing the implant’s versatility and addressing patient adherence challenges through refill intervals extending up to nine months.

Novartis’s GTX-102 sustained-release hydrogel and Alcon’s novel TKIs under development reflect the rising interest in durable delivery mechanisms, while data from the HARRIER and TALON studies highlight brolucizumab’s superior anatomical outcomes but prompt continued vigilance regarding inflammatory adverse events. These key corporate initiatives underscore the competitive intensity and collaborative opportunities shaping the choroidal neovascularization therapeutic ecosystem.

Industry leaders must proactively embrace strategies that harmonize clinical innovation with operational resilience to thrive amid evolving market conditions. First, prioritizing diversified supply chains and onshore API partnerships can mitigate tariff-induced disruptions while preserving cost competitiveness. Second, integrating real-world data collection and advanced analytics into clinical development programs will substantiate the value proposition for extended-interval and sustained-delivery modalities, facilitating payer negotiations and health technology assessments.

Third, fostering cross-sector collaborations with implantable device manufacturers and digital health providers can accelerate the deployment of port delivery systems and AI-enabled imaging platforms, enhancing patient convenience and optimizing resource utilization. Fourth, adopting a modular pricing framework that aligns reimbursement with demonstrated outcomes-such as pay-for-performance contracts-can support broader access to premium therapies while managing budgetary impact. Finally, investing in targeted stakeholder engagement, including patient advocacy groups and professional societies, will ensure that market access strategies are informed by real-world patient needs and clinical best practices.

By executing these actions, companies and healthcare providers can navigate regulatory complexities, strengthen patient adherence, and secure sustainable growth in the choroidal neovascularization market, ultimately improving long-term visual outcomes.

This research report was developed through a rigorous combination of primary and secondary methodologies to ensure comprehensive coverage of the choroidal neovascularization landscape. Secondary research involved systematic analysis of peer-reviewed journals, clinical trial registries, regulatory agency databases, and financial disclosures to capture the latest developments in therapeutic technologies, pipeline progress, and market dynamics.

Primary research was conducted via structured interviews with key opinion leaders, including retinal specialists, health system pharmacists, and policy experts, to gather nuanced perspectives on treatment paradigms, reimbursement trends, and supply chain challenges. Additionally, patient advocacy groups provided real-world insights into treatment burden and access barriers.

Quantitative data were triangulated from proprietary healthcare databases and validated against public sources to ensure consistency. Qualitative analyses incorporated thematic coding to identify emerging trends and strategic imperatives. This multi-layered approach provides clients with an authoritative, evidence-based foundation for decision-making and strategic planning in the evolving choroidal neovascularization market.

Through a detailed examination of clinical innovations, market segmentation, regional dynamics, and policy headwinds, this report reveals a choroidal neovascularization landscape in the midst of transformative evolution. Cutting-edge therapies that extend dosing intervals and reduce treatment burden are reshaping standard-of-care practices, while emerging sustained-delivery and bispecific modalities promise to redefine long-term management approaches.

Simultaneously, global tariff policies and supply chain pressures necessitate strategic realignment of manufacturing footprints and sourcing strategies to safeguard therapy affordability and availability. Regional variations in reimbursement frameworks and diagnostic infrastructure further underscore the need for tailored market access pathways that balance innovation with cost containment.

By synthesizing these critical insights, industry stakeholders can chart a clear path forward, leveraging differentiated product portfolios and strategic collaborations to meet evolving patient needs. This report’s evidence-based findings serve as a blueprint for advancing choroidal neovascularization care, ensuring that patients worldwide benefit from sustainable, high-impact treatment solutions.

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