Retinal Vein Occlusion Treatment Market to reach US$ 2.3 billion by 2023-end, expected to grow at a 5.9% CAGR until 2033: FMI Report
The global market for retinal vein occlusion treatment is likely to register a CAGR of 5.9% from 2023 to 2033. According to Future Market Insights, a valuation of US$ 2.3 billion is expected for the industry by the end of 2023. Retinal vein occlusion is among the most pervasive retinal vascular ailments in older individuals, and mainly affects people over the age of 65. Age is a significant potential risk for retinal vein occlusion. As the elderly population goes up, it is presumed that the incidence of retinal vein occlusion will increase as well.
Owing to various improved medical facilities, an expansion in the occurrence of eye disorders, technological advancements, and an upsurge in the aging population, North America held a substantial portion of the global retinal vein occlusion market in 2022. From 2023 to 2033, the Asia Pacific retinal vein occlusion market is expected to increase at a 6.5% CAGR. The rising prevalence of ocular diseases in Asia Pacific, particularly in China, Singapore, Indonesia, and other Southeast Asian countries, along with rising health expenditures, are predicted to propel market expansion in East & South Asia from 2023 to 2033.
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Europe is expected to have the second-largest share of the market during 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
- 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.
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“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.
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.
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global retinal vein occlusion treatment market, providing historical data for 2018-2022 and forecast statistics from 2023-2033.
To understand opportunities in the retinal vein occlusion treatment market, the market is segmented on the basis of 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), across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified 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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