Retinal Vein Occlusion (RVO) is the second most prevalent cause of vision loss across the globe after diabetic retinopathy. RVO usually occurs when a blood clot blocks the retinal vein. There are several common diseases that can cause RVO, these include glaucoma, diabetes, high blood pressure, macular edema, high cholesterol and other blood disorders that could affect clotting. People over the age of 60 are particularly at risk and those with a smoking habit are also susceptible to RVO.
Market Research Future (MRFR) has published a comprehensive market report on retinal vein occlusion. The report delves into the various market segments that make up the market and identifies upcoming market trends, projected growth as well as market restraints for the forecast period.
Extensive research of retinal vein occlusion has given rise to various treatment options, some of which can also reliably restore vision. The market has seen a lot of growth and change due to this and current treatment options are limited.
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The retinal vein market is projected to grow at a significant CAGR of 11.2% during the forecast period 2017-2023. This growth can largely be attributed to the growing number of key players investing in research and development of RVO treatment options. It is in the recent years that the advent of anti-VEGF drugs and steroid use has changed the retinal vein occlusion market. Anti VEGF drugs have gained significant traction among doctors as the primary choice of treatment, however these drugs are being developed on a continuous basis, thus facilitating growth of the retinal vein occlusion market.
The global retinal vein occlusion market can be segmentally evaluated based on type, condition, diagnosis, treatment and end user.
Based on type the market is segmented into branch retinal artery occlusion and central retinal vein occlusion.
Based on condition the market is segmented into non-ischemic and ischemic.
Based on treatment, the market is segmented into anti vascular endothelial growth factor (Anti-VEGF), corticosteroid drugs, laser retinal photocoagulation and others.
Based on end users, the market is segmented into hospitals & clinics, research & academic centers and others.
On the basis of region, the market has been segmented into the Americas, Europe, Asia Pacific and Middle East & Africa.
The Americas are the current dominating market segment in the global retinal vein occlusion market, this can be attributed to the existence of many key players in the region, an increasing number of patients, increase in surgical success and an ongoing improvement of treatment methods. North America also enjoys strong economic conditions and has an active focus on research and development which encourages growth. Meanwhile, due to the huge potential for this market, South America is expected to contribute substantial growth in the market. By 2023, the evaluation of this market segment is expected to reach USD 6018.6 million.
Europe, which has the second largest market share, is also expecting to sustain growth due to strong support from the government and the allocation of significant funds for healthcare expenditure. The massive geriatric population is another motivator for growth in this market. Past trends of health care expenditure in European countries are a strong indicator for continued growth of the retinal vein occlusion. In 2014, the Organization for Economic Co-operation and Development (OECD) reported that healthcare expenditure for that year was EUR 321 billion in Germany and EUR 237 billion in France.
Asia Pacific (APAC) is the fastest growing market for retinal vein occlusion. A high number of developing countries in this region like India and China are focusing on providing up to date healthcare options, this extends to retinal vein occlusion as well. Like South America, this region also possesses a great potential and rapid growth is expected for this region during the forecast period.
Middle East and Africa is another region that expects to see growth during the forecast period, however due to the presence of many under developed and developing countries there may be restricted growth in this region. Low availability of medical facilities and poor development in the healthcare sectors are the key factors restricting growth. However, some Middle Eastern countries like Qatar and Kuwait are focusing on these problems which could mean modest growth for the region.
The Retinal Vein Occlusion Market competitive landscape is led by prominent key players including, Allergan, Bayer, Bristol-Myers Squibb, Ellex Medical Lasers, Iridex Corporation, Novartis, Regeneron Pharmaceuticals, Quantel Medical Inc., GlaxoSmithKline Plc, Zeiss, Lumenis, Topcon Medical Systems Inc., Sanofi Aventis, Valeant Pharmaceuticals, Alimera Sciences, Fovea Pharmaceuticals SA, Icon Biosciences, Suzuken Co. Ltd., Genentech Inc., Ranbaxy Pharmaceuticals, Johnson & Johnson Services Inc., Teva Pharmaceutical, Pfizer Inc., Astrazeneca, Aerpio Therapeutics Inc., Annexin Pharmaceuticals AB and others.
Latest Industry News
Novartis presently has plans to submit an application seeking FDA approval for a new anti-VEGF class of drugs called RTH258 (Brolucizumab). The investigational drug is expected to be launched commercially in 2019 and will be a contender for treatment of neovascular age-related macular degeneration.
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