The global retinal vein occlusion treatment market is anticipated to witness significant growth over the forecast period from 2023 to 2033, according to a recent report by Future Market Insights. The market is expected to register a Compound Annual Growth Rate (CAGR) of 5.9%, reaching a valuation of US$ 4.7 billion.
As of 2023, the industry was valued at US$ 2.3 billion, highlighting a promising trajectory for growth. Retinal vein occlusion (RVO) is a prevalent retinal vascular ailment affecting older individuals, particularly those over the age of 65. With age being a significant risk factor for RVO, the aging global population is poised to drive the incidence of this condition.
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Retinal vein occlusion occurs when a vein in the retina becomes blocked or partially blocked, potentially leading to vision loss or impairment if left untreated. The two primary types of RVO are central retinal vein occlusion (CRVO) and branch retinal vein occlusion (BRVO). Treatment options focus on reducing swelling and improving blood flow in the affected retina, thereby preserving vision and preventing further damage.
Advancements in technology, the increasing prevalence of retinal diseases, and the growing aging population are key factors propelling the retinal vein occlusion treatment market forward. Pharmaceutical companies and medical device manufacturers play a crucial role in developing innovative treatments and devices to address the needs of RVO patients.
“The projected growth of the global retinal vein occlusion treatment market underscores the pressing need for effective therapies to combat this prevalent condition,” said FMI. “We remain committed to advancing research and development efforts to provide patients with cutting-edge treatments that improve outcomes and enhance quality of life.”
The forecasted expansion of the retinal vein occlusion treatment market presents opportunities for stakeholders across the healthcare industry to collaborate and innovate in addressing the needs of patients worldwide.
Key Takeaways from the Market Study:
- Global retinal vein occlusion treatment market to reach a valuation of US$ 4.7 billion in 2033
- East Asia retinal vein occlusion market is expected to expand at a CAGR of 6.5%.
- From 2018 to 2022, sales increased significantly at a CAGR of 5%.
- The random-effects gathered likelihood of RVO in Europeans over the age of 55 was 0.7%, according to a 2018 Pubmed report.
- The total number of affected people in the EU is expected to nearly double, 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 affirmed highly supportive for the initial interpretable Phase III findings of a clinical study investigating the effectiveness and protection of Beovu in December 2020. Beovu by Novartis placed Regeneron’s anti-VEGF Eylea, one of the renowned treatments for diabetic macular edema, in direct competition.
- Roche is presently performing Phase III trials to examine the effectiveness and security of Faricimab in sick people with macular edema secondary to BRVO and CRVO, with the drug anticipated to be approved by 2023 based on the findings.
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
By Region:
- North America
- Europe
- East Asia
- South Asia
- Oceania
- Latin America
- Middle East and Africa (MEA)
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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