The global Retinal Vein Occlusion Treatment Market is anticipated to be worth US$ 2.3 billion in 2023, with a CAGR of 5.9% from 2023 to 2033, reaching US$ 4.7 billion. Retinal vein occlusion, which affects those over the age of 65, is one of the most common retinal vascular diseases in the elderly. With age, the chance of retinal vein obstruction increases. The prevalence of retinal vein obstruction is projected to rise as the geriatric population develops. One of the most prevalent retinal vascular illnesses in the elderly is retinal vein occlusion, which affects persons over the age of 65. The risk of retinal vein blockage increases with age. As the elderly population goes up, it is presumed that the incidence of retinal vein occlusion will increase as well.
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Because of numerous improved medical facilities, a growth in the prevalence of eye disorders, technological advancements, and an ageing population, North America held a large percentage of the worldwide retinal vein occlusion market in 2022. Between 2023 and 2033, the Asia Pacific retinal vein occlusion market is expected to develop at a 6.5% CAGR. Rising ocular illness prevalence in Asia Pacific, particularly in China, Singapore, Indonesia, and other Southeast Asian countries, as well as rising health expenditures, are predicted to fuel East and South Asian market expansion from 2023 to 2033. Europe is predicted to have the second-largest market share throughout the forecast years. The rise of a huge older population, along with elevated healthcare spending, is driving the retinal vein occlusion market expansion in this region.
The branch retinal vein occlusion segment had the highest global retinal vein occlusion therapeutics revenue growth in 2022. This segment is expected to dominate the market as the occurrence of high blood pressure, cardiovascular disease, and glaucoma rises.
Key Takeaways from the Market Study
- The global retinal vein occlusion therapy market is expected to reach US$ 4.7 billion by 2033, with East Asia growing at a CAGR of 6.5%.
- Between 2018 and 2022, sales increased at a CAGR of 5%.
- The random-effects gathered risk of RVO among Europeans over the age of 55 was 0.7%, according to a 2018 Pubmed article.
- The total number of affected people in the EU is expected to nearly triple from 900,000 in 2018 to 1.1 million in 2050.
“Players in the Retinal Vein Occlusion Treatment domain are increasing their capacity to produce corticosteroid drugs, which can help combat the inflammatory factors that cause edema. Healthcare professionals, on the other hand, are becoming increasingly skilled in focal laser therapy,” says FMI’s analyst.
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Market Competition
Key players in the Retinal Vein Occlusion Treatment market are AbbVie, Roche, Regeneron Pharmaceuticals, Taiwan Liposome Company, Aerie Pharmaceuticals, Graybug Vision, Kodiak Sciences Inc., Chugai Pharmaceuticals, and Novartis AG among others.
- Novartis confirmed its strong support for the first interpretable Phase III outcomes of a clinical study assessing the efficacy and safety of Beovu in December 2020. Beovu by Novartis competed directly with Regeneron’s anti-VEGF Eylea, one of the most well-known treatments for diabetic macular edoema.
- Roche is now conducting Phase III trials to assess the efficacy and safety of Faricimab in patients with macular edoema secondary to BRVO and CRVO, with the medicine expected to be licenced by 2023 based on the results.
More Valuable Insights Available
North America is currently the largest Retinal Vein Occlusion Therapy market, primarily due to the high prevalence of retinal diseases in the region. The United States is a significant contributor to the North American market, with a growing demand for effective Retinal Vein Occlusion Treatments and increasing investment in research and development.
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Key Segments Profiled in the Retinal Vein Occlusion Treatment Industry Survey
By Drug Class:
- Ranibizumab
- Dexamethasone
- Aflibercept
- Bevacizumab
By Type:
- Central Retinal Vein Occlusion
- Branch Retinal Vein Occlusion
By Diagnosis:
- Optical Coherence Tomography
- Fundoscopic Examination
- Fluorescein Angiography
By End User:
- Hospitals
- Research and Academics
- Specialty Clinics
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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