Report Details:
15 Companies Covered
150 Pages
Pune, India, DEC-2024/MRFR Press Release/- Market Research Future published a Half-Cooked research report on "Global Retinal Vein Occlusion Market Research Report - Forecast to 2032" – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2032.
Market Highlights
The Retinal Vein Occlusion Market is expected to reach USD 2.5 Billion by 2032 at 5.16% CAGR during the forecast period 2024-2032.
Retinal Vascular Occlusion (RVO) is the build-up of fluids in the retina of the eye due to blood clot obstruction, which prevents it from properly filtering light. RVO may result in a sudden loss of vision and is a common vascular disorder and one of the most common causes of vision loss across the globe. RVO is the second most common cause of blindness after diabetic retinopathy. Unilateral RVO affects approximately 80%-85% cases with bilateral RVO affecting the rest. RVO has an incidence rate of 2.2 cases per 1000 of general population older than 40 years and 5.4 cases per 1000 of general population older than 64 years.
High level of blood lipids, or fats, hyperlipidemia, or high blood cholesterol levels, diabetes, cancer, hypothyroidism, biliary cirrhosis, cholestasis, nephrotic syndrome, hematologic diseases such as monoclonal gammopathy and other metabolic disorders are some of the major risk factors.
Rising demand due to growing geriatric population, increasing screening, greater emphasis on restorative procedures, rising safety, and success of retinal vein occlusion treatment, and others are the major driver of the market. The market may experience lag in the growth due to the complications such as the risk of bleeding, infections, pain, especially during surgery, the high cost of retinal vein occlusion treatment, poor healthcare penetration, especially, the ophthalmic segment, and others.
There is no preventive treatment for retinal vein occlusion, which is the single most unmet need in the market. Product development represents the best strategy for the market growth. The market is expected to witness exponential growth over the review period owing to technological advancement in surgical procedures. Market development is another strategy for as there is a large unmet need in the developing regions such as India and China. Cost of the product is likely to be a decisive factor in the developing regions such as Asia Pacific and, especially, Africa.
Global Retinal Vein Occlusion Market Players
Some of the key players profiled in the report are Regeneron Pharmaceuticals, Inc., Bayer HealthCare Pharmaceuticals LLC, Novartis AG, Pfizer, Inc., AstraZeneca PLC, GlaxoSmithKline PLC, Johnson & Johnson, Teva pharmaceutical industries, Novo Nordisk, Sanofi, and others.
Retinal Vascular Regional Analysis
The Americas account for a significant market share owing to high expenditure on the health care, especially, of the U.S. and Canada. Additionally, the greater number of ophthalmology procedures due to greater healthcare penetration in the U.S. and Canada drives the retinal vein occlusion market. The high concentration of the major hospitals in the developed countries of this region coupled with good reimbursement rates is adding fuel to the market growth. Moreover, the large share of ophthalmology procedures, especially, the retinal vein occlusion surgery treatment in the returns of hospitals favors the market. The large number of pharmaceutical companies in the U.S. is also a cause for the faster development of retinal vein occlusion market in the US. The high development of the microsurgery field in developed regions such as the U.S. and Europe is a strong driver of the market.
Europe is the second largest market in the world due to growing pharmaceutical industry and healthcare penetration. The European market growth is led by countries such as Germany and France. Germany is expected to be the fastest growing market over the assessment period due to its large pharmaceutical and microsurgery devices industry.
Asia Pacific region is expected to grow rapidly; China and India are likely to lead this market due to the fast-growing healthcare sector and large unmet needs over the forecast period. South East Asian countries such as China, India, and Malaysia are projected to contribute highly to the market growth. The growing penetration of the healthcare industry in the Asia Pacific region is expected to drive the future retinal vein occlusion market in the region. However, the low expenditure on ophthalmology and eye care coupled with the lack of insurance penetration in the developing regions may hamper the growth of the market.
Gulf nations such as Saudi Arabia and the UAE are estimated to drive the Middle East & African market. Other Middle East nations to watch out for are Kuwait, Jordan, Egypt, and Iran. The African region is expected to witness a poor growth owing to poor economic and political conditions, and poor healthcare development. Other regions are expected to be laggards due to the poor social development and tribal identities such as sub-Saharan Africa. The focus of the governments of poor countries on fulfilling basic healthcare relegates the retinal vascular occlusion market to the background which hampers the development of the market.
Taste the market data and market information presented through more than 50 market data tables and figures spread over 80 pages of the project report. Avail the in-depth table of content (TOC) & market synopsis on “Global Retinal vein occlusion Market” Research Report – Forecast till 2023.
Segmentation
The global retinal vein occlusion market has been segmented on the basis of types, condition, diagnosis, drugs, surgery, and end user.
Based on the types, the market has been segmented as retinal artery occlusion & retinal vascular occlusion.
Based on the condition, the market has been segmented as non-ischemic and ischemic.
Based on the diagnosis, the market has been segmented as fundoscopic examination, optical coherence tomography (OCT), fluorescein angiography, and others.
Based on the drugs, the market has been segmented as an anti-vascular endothelial growth factor (VEGF), corticosteroid, anticoagulants, fibrinolytic, and others.
Based on the surgery, the market has been segmented as laser retinal photocoagulation, chorioretinal venous anastomosis, radial optic neurotomy and others.
Based on the end user, the market has been segmented as hospitals and clinics, research and academics, and others.