Retinal vein occlusion is a commonly occurring vascular disorder of the retina; the increasing frequency has contributed positively to the development of the market. Focused market reports related to the healthcare industry among others lately have been made available by Market Research Future which issues reports on this industry. The market is anticipated to expand with a CAGR of 11.2% in the duration of the forecast period.
The market’s growth is inspired by the rising number of cases related to lymphoma and multiple myeloma. Growing prevalence of eye diseases and prolonged diseases such as diabetes are the main risk factors for eye diseases. An increasing level of spending has also enhanced the market because of the research and development by market players. The rise in the level of anti VEGF drugs has increased the development of the market to a great extent and is projected to continue to do so in the forecast period.
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Industry Segments
The retinal vein occlusion market is segmented on the basis of condition, type, treatment, diagnosis, and end user. On the basis of the condition, the market is segmented into ischemic and non-ischemic. The type based segmentation of the market comprises of central retinal vein occlusion and branch retinal artery occlusion. The basis of segmentation on treatment comprises of corticosteroid drugs, antivascular endothelial growth factor, laser retinal photocoagulation, and others. Based on the diagnosis, it is segmented into optical coherence tomography (OCT), fundoscopic examination, fluorescein angiography, and others. The market is segmented on the basis of end users into research & academics centers, hospitals and clinics, and others.
Detailed Regional Analysis
The regional analysis of the Retinal Occlusion Market observes that the Americas region controls the retinal vein occlusion market due to the growing prevalence of patients, the incidence of key market companies and development of surgical results. Factors such as the incidence of a strong economic condition and emphasis of research institutions on updating technology for new and advanced treatment methods for retinal vein occlusion are further boosting the market in the region. The European region controls the second place in the market due to growing backing from the government, the existence of huge geriatric population, and escalated healthcare spending. The Asia Pacific region is the most rapidly mounting market due to an increasing number of emerging nations present in this region, such as nations like China and India. These nations are inspiring the development of the retinal vein occlusion market. Meanwhile, the Middle East & African region is anticipated to control the biggest market share owing to limited accessibility to medical facilities, and slower development of the healthcare domain. Though, nations such as Kuwait and Qatar are concentrating more on the healthcare sector and emerging medical facilities, which will increase the market of this region.
Global Competitive Analysis
The forecast for development and improvement has developed at a rapid pace changing the market. The vital trends and players have established an optimistic tone for development. The greatest chances are being involved and converted to altering the development pace of the market considerably. By safeguarding the supply and demand, the competitors can capture novel opportunities for progress. The stimulus for the market’s growth has developed the competitive backdrop of the market. The competitors in the market have been enthused to ideate strategic road-maps that utilize the constructive market cues.
Industry Updates:
Mar 2018 A biopharmaceutical company Clearside Biomedical, Inc, is creating first-in-class drug therapies to treat back-of-the-eye diseases, recently announced the registration of their first patient in Phase 3 clinical trial named TOPAZ of suprachoroidal CLS-TA used with an intravitreally administered anti-VEGF agent for the treatment of macular edema associated with Retinal Vein Occlusion. Clearside’s exclusive suspension of the corticosteroid triamcinolone acetonide, Suprachoroidal CLS-TA, is created for the administration to the back of the eye through the suprachoroidal space, or SCS, which is the space situated in the middle of the choroid and the outer protective layer of the eye recognized as the sclera.
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