The Global Retinal Vein Occlusion Market is expected to rise at a CAGR of 11.2% over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global retinal vein occlusion market is mainly driven by the growing awareness about the disease, the growing prevalence of the disease, including the rising prevalence of diabetes, which is a major risk factor for the disease, and the growing efforts being taken by market players to come up with effective remedies for the disease.
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Retinal vein occlusion is a condition wherein the veins carrying blood away from the retina develop clots or other obstructions. This restricts blood flow and disrupts the cycle of blood flowing through the highly delicate region. This can lead to vision loss, as the region around the corneas and the eyes is highly sensitive to even the smallest disruptions. Retinal vein occlusion is one of the most common causes of vision loss around the world. This is likely to drive the global retinal vein occlusion market at a sturdy growth rate over the forecast period. The rising prevalence of diabetes is also likely to act as a key driver for the global retinal vein occlusion market, as having diabetes considerably increases the risk of getting a retinal vein occlusion.
The increasing focus of consumers on ophthalmic care is likely to be a key factor in the global retinal vein occlusion market’s growth over the forecast period. While ophthalmic care has always been important, modern methods and processes are making it even more refined and sophisticated, leading to it becoming ever more important within the healthcare sector. The increasing sophistication of the ophthalmology sector could also act as a key driver for the retinal vein occlusion market, as this could lead to the creation of more advanced, innovative solutions to the disease.
Competitive Analysis:
Leading players in the global retinal vein occlusion market include Allergan, Bristol-Myers Squibb, Ellex Medical Lasers, IRIDEX Corporation, Quantel Medical Inc., ZEISS, Sanofi Aventis, Alimera Sciences, Icon Biosciences, Genentech Inc., Johnson & Johnson Services Inc., Pfizer Inc., Aerpio Therapeutics Inc., Annexin Pharmaceuticals AB, AstraZeneca, Teva Pharmaceutical, Ranbaxy Pharmaceuticals, Suzuken Co. Ltd., Fovea Pharmaceuticals SA, Valeant Pharmaceuticals, Lumenis, Topcon Medical Systems Inc., Novartis, GlaxoSmithKline plc, Regeneron Pharmaceuticals, and Bayer.
In April 2019, Lantheus Holdings announced a collaboration with Cerevast Medical on a treatment for retinal vein occlusion. The treatment uses Lantheus’ microbubbles along with Cerevast’s ultrasound treatment to maximize the efficacy of the retinal vein occlusion treatment.
Segmentation:
The global retinal vein occlusion market is segmented on the basis of type, condition, diagnosis, treatment, and end user.
On the basis of type, the retinal vein occlusion market is segmented into branch retinal artery occlusion and central retinal vein occlusion.
On the basis of the condition, the retinal vein occlusion market is segmented into non-ischemic and ischemic. The non-ischemic segment held a majority share of more than 62% in the global retinal vein occlusion market in 2016.
Based on diagnosis, the market is segmented into optical coherence tomography (OCT), fundoscopic examination, fluorescein angiography, and others. Fundoscopic examination is the leading segment of the global retinal vein occlusion market by diagnosis.
On the basis of treatment, the retinal vein occlusion market is segmented into antivascular endothelial growth factor, corticosteroid drugs, laser retinal photocoagulation, and others.
On the basis of end use, it is segmented into hospitals and clinics, research & academics centers, and others.
Regional Analysis:
The Americas dominate the global retinal vein occlusion market due to the overall higher level of technology present in the medical establishments in the region, the high disposable income of consumers in the region, and the growing prevalence of retinal vein occlusion in the region. The growing geriatric population in North America and the strong research sector in the region is also a key factor in the growth of the retinal vein occlusion market in the Americas.
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