Retinal Vein Occlusion Treatment Market to Grow with a CAGR of 6.15% through 2028
Rising laser therapy and surgical interventions are expected
to drive the Global Retinal Vein Occlusion Treatment Market growth in the
forecast period, 2024-2028.
According to TechSci Research report, “Retinal Vein
Occlusion Treatment Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Retinal
Vein Occlusion Treatment Market stood at USD 2.28 billion in 2022 and is
anticipated to grow with a CAGR of 6.15% in the forecast period, 2024-2028. RVO
is a common and debilitating vascular disorder of the eye, and as the global
population ages, the prevalence of this condition is increasing. Patients and
healthcare professionals are increasingly seeking innovative and effective
treatments for RVO, which is propelling the market forward. One of the primary drivers of the global RVO treatment
market is the aging population. As the world's demographic profile skews
towards the elderly, the incidence of age-related eye conditions like RVO is on
the rise. RVO is more common in individuals over the age of 50, and as life
expectancy continues to increase, so does the demand for effective treatment
options. This demographic shift is propelling pharmaceutical companies and
healthcare providers to develop and offer solutions that cater to the specific
needs of older patients, thus driving market growth.
Another crucial driver is the growing awareness among
patients and healthcare professionals about the importance of early diagnosis
and treatment of RVO. Eye health awareness campaigns, coupled with improved
healthcare infrastructure and easier access to information, have resulted in
more individuals seeking medical advice for their vision problems. Early
detection and timely intervention are critical in managing RVO and preventing
severe vision loss, which is why this heightened awareness is driving demand
for RVO treatments.
The global RVO treatment market has benefited
significantly from rapid advancements in medical technology. Diagnostic tools,
such as optical coherence tomography (OCT), are now able to provide detailed
and non-invasive imaging of the retina, allowing for early and accurate
diagnosis of RVO. Additionally, innovative treatments like anti-vascular
endothelial growth factor (anti-VEGF) drugs have revolutionized the management
of RVO by reducing edema and improving visual outcomes. Ongoing research and
development in medical technology continue to open new frontiers in RVO
treatment, offering hope for improved therapeutic options in the near future.
Pharmaceutical companies have been at the forefront of
developing new and effective treatments for RVO. Anti-VEGF drugs, such as
aflibercept and ranibizumab, have emerged as promising options for managing
macular edema associated with RVO. These drugs work by inhibiting the growth of
abnormal blood vessels in the retina and reducing inflammation. The
introduction of such pharmacological interventions has provided RVO patients
with a less invasive and more convenient treatment option, further driving market
growth.
The Global Retinal Vein Occlusion Treatment Market is
segmented into Disease type, Treatment, End-user, Regional Distribution, And
Company.
Based on the Disease Type, Retinal Vein
Occlusion Treatment devices emerged as the dominant segment in the global
market for Global Retinal Vein Occlusion Treatment Market in 2022. BRVO can
still lead to vision impairment and needs treatment, the severity of vision
loss is generally less severe than in CRVO. Patients with BRVO may maintain
relatively good central vision, making them more inclined to seek treatment to
preserve and potentially improve their eyesight. This willingness to seek
treatment increases the demand for BRVO-specific therapies. BRVO is often
milder in its clinical presentation compared to CRVO. In BRVO, a single branch
of the retinal vein is affected, whereas CRVO involves the main central vein.
This distinction means that BRVO patients may have better baseline vision, and
the condition may be identified earlier. Consequently, there is a greater
opportunity for treatment interventions, boosting the demand for BRVO-specific
treatments. Ongoing research and innovation in the field of RVO treatment have
led to the development of specialized treatments for BRVO. This innovation
focuses on optimizing outcomes and minimizing side effects. The abundance of
research in this area contributes to a growing market for BRVO treatments.
Based on the End-user, the Hospitals and
clinics segment emerged as the dominant player in the global market for Global Retinal
Vein Occlusion Treatment Market in 2022. Hospitals and clinics are
well-equipped with specialized ophthalmology departments and healthcare
professionals who are experienced in diagnosing and treating eye conditions,
including RVO. Ophthalmologists and retinal specialists in these settings have the
expertise and technology required to provide comprehensive RVO care. This
specialization is vital in addressing the unique and complex needs of RVO
patients. Hospitals and clinics have access to advanced diagnostic tools, such
as optical coherence tomography (OCT) and fluorescein angiography, which are
crucial for accurate RVO diagnosis and monitoring. These diagnostic
capabilities aid in assessing the extent of retinal damage, guiding treatment
decisions, and tracking the progress of the disease. RVO treatment often
involves a range of therapeutic options, including intravitreal injections,
laser therapy, and surgical interventions. Hospitals and clinics are equipped
to provide these diverse treatment modalities, offering patients a
comprehensive approach to managing their condition. This versatility is
essential in tailoring treatment plans to the specific needs of each RVO
patient.
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North America emerged as the dominant
player in the global Retinal Vein Occlusion Treatment Market in 2022, holding
the largest market share. North America has early access to the latest
advancements in RVO treatment. Clinical trials, research initiatives, and
pharmaceutical developments are prominent in the region, allowing patients and
healthcare providers to benefit from novel therapies and state-of-the-art
diagnostic tools. Increased awareness campaigns and educational initiatives
have improved the early detection of RVO in North America. Patients and
healthcare professionals are more vigilant in identifying RVO symptoms and
seeking prompt treatment, further contributing to market growth. The presence
of comprehensive healthcare reimbursement systems and insurance coverage in
North America ensures that patients have access to a wide range of RVO
treatment options. This financial support reduces barriers to care and
encourages patients to pursue necessary treatments. North America consistently
leads in research and development investment in the healthcare sector. The
region's strong commitment to medical innovation results in the continuous
development of new and improved RVO treatments, enhancing the market's growth.
Major companies operating in Global Retinal Vein
Occlusion Treatment Market are:
- AbbVie Inc.
- F. Hoffmann-La Roche Ltd.
- Regeneron Pharmaceuticals Inc.
- Taiwan Liposome Company, Ltd.
- Aerie Pharmaceuticals Inc.
- CalciMedica Inc.
- Outlook Therapeutics, Inc.
- Kodiak Sciences Inc.
- Chugai Pharmaceutical Co., Ltd.
- Pfizer Inc.
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“The Global Retinal
Vein Occlusion Treatment Market is poised for significant growth in the coming
years, driven by several key factors. The aging global population is expected
to continue to grow, and RVO is more prevalent among older individuals, thus
creating a larger patient pool. Moreover, ongoing advancements in RVO treatment
options, including the development of innovative pharmacological therapies,
regenerative medicine approaches, and minimally invasive procedures, are
improving patient outcomes and expanding the range of available treatments.
Additionally, the increasing awareness of RVO and the importance of early
diagnosis and intervention are likely to result in more patients seeking
treatment. The rise of telemedicine and remote monitoring is improving access
to care, particularly for patients in remote or underserved areas.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Retinal Vein Occlusion Treatment Market - Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By
Disease Type (Central Retinal Vein Occlusion (CRVO), Branch Retinal Vein
Occlusion (BRVO)), By Treatment (Anti-vascular Endothelial Growth Factor
(Anti-VEGF), Corticosteroid Drugs, Others), By End-user (Hospital &
Clinics, Retail Pharmacy, Others) Region and Competition”, has evaluated
the future growth potential of Global Retinal Vein Occlusion Treatment Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Retinal Vein Occlusion Treatment Market.
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