The global retinal vein occlusion treatment market is on the brink of remarkable growth, with its valuation projected to rise from USD 2.3 billion in 2023 to USD 4.7 billion by 2033. This growth reflects a robust compound annual growth rate (CAGR) of 5.9%, highlighting the increasing demand for effective treatments for this common retinal vascular disease among older adults.
RVO, a significant cause of vision loss, predominantly affects individuals over the age of 65. As the global population continues to age, the incidence of RVO is expected to surge, driving the demand for advanced therapeutic options. Key players in the market are capitalizing on this trend by scaling up the production of corticosteroid drugs, which are essential in managing the inflammatory aspects of the condition and reducing associated edema.
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Anti-vascular endothelial growth factor (anti-VEGF) medications such as Lucentis, Avastin, and Eylea are frequently used in treating BRVO cases with neovascularization or macular edema. These treatments are critical in managing the condition and improving patient outcomes.
The market is also benefiting from increased approvals of medications for RVO treatment. Notably, in September 2021, the FDA approved Byooviz (ranibizumab-nuna), the first biosimilar drug developed by Samsung Bioepis, for treating macular degeneration and other eye diseases, including RVO. This landmark approval is expected to drive significant growth in the industry.
Regional Market Insights:
North America held a substantial share of the global RVO market in 2022, owing to various factors such as advanced healthcare facilities, a high prevalence of eye disorders, cutting-edge technology, and an increasing aging population. The region’s robust infrastructure and high healthcare expenditure have been pivotal in supporting market growth.
Looking ahead, the Asia Pacific region is projected to experience the fastest growth, with a CAGR of 6.5% from 2023 to 2033. The rising prevalence of eye conditions, particularly in countries like China, Singapore, Indonesia, and other Southeast Asian nations, coupled with increasing healthcare spending, is expected to fuel market expansion in this region.
As the global population ages and the prevalence of retinal vein occlusion rises, the market for RVO treatments is set for substantial growth. Continued advancements in medical treatments and increased drug approvals will play a critical role in addressing this condition and improving the quality of life for affected individuals.
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)
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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