Health

Retinal Vein Occlusion Market Provides Business Economy With Innovative Growth

Retinal vein occlusion is blockage of retinal vein due to blood clot. Retinal vein occlusion is the second most common cause of visual impairment globally. Blood clot causes blockage in the vein, which starts draining blood from retina, resulting in swelling and bleeding, affecting the vision of the person. Depending on the site of blood clot, there are two major types of retinal vein occlusion. Blockage of the central retinal vein leads to central retinal vein occlusion (CRVO) and branch retinal vein occlusion (BRVO) involves blockage of smaller branch of veins of the retina. The primary causes of retinal vein occlusion are atherosclerosis, hypertension, and eye conditions such as glaucoma and vitreous hemorrhage.

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Rise in prevalence of eye diseases globally, increase in geriatric population, surge in awareness about eye disorders, improved health care infrastructure, technological advancements, and upcoming novel treatments are the major drivers of the global retinal vein occlusion market. However, side effects associated with the treatment act as a major restraint of the global market.

The global retinal vein occlusion market can be segmented based on type, condition, diagnosis, treatment, end-user, and region. In terms of type, the global market can be bifurcated into central retinal vein occlusion (CRVO) and branch retinal vein occlusion (BRVO). The branch retinal vein occlusion (BRVO) segment dominated the market in 2017 and the trend is projected to continue during the forecast period. Growth of the segment is attributed to high prevalence of BRVO compared to CRVO. Based on condition, the global retinal vein occlusion market can be classified into ischemic and non-ischemic. The non-ischemic segment dominated the market in 2017 and is expected to continue its dominance during the forecast period.

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In terms of diagnosis, the market can be divided into fundoscopic examination, optical coherence tomography (OCT), fluorescein angiography, and others. The optical coherence tomography (OCT) segment dominated the market in 2017 due its wide acceptance for the diagnosis of retinal vein occlusion. The segment is likely to sustain its market share during the forecast period. Based on treatment, the global retinal vein occlusion market can be categorized into anti-vascular endothelial growth factor (VEGF) drugs, corticosteroid drugs, pan-retinal photocoagulation therapy, laser therapy, and others. The anti-VEGF drugs segment dominated the market due to preference for these drugs as first line of treatment for BRVO. The segment is projected to sustain its leadership position from 2018 to 2026. In terms of end-user, the market can be classified into hospitals, ophthalmic clinics & research centers, and others. The hospitals segment dominated the market in 2017 and the trend is likely to continue in the next few years, due to increase in preference for hospitals for the treatment of eye related diseases.

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In terms of region, the global retinal vein occlusion market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global retinal vein occlusion market in 2017 and is projected to capture significant share during the forecast period. The market in the region is anticipated to grow at a rapid pace due to improved health care infrastructure, rise in prevalence of eye diseases, advanced technology, and increase in the geriatric population. An article published by NCBI stated that central retinal vein occlusion is one of the major causes of sudden, painless vision loss in adults. In developed countries, prevalence of retinal vein occlusions is approximately 5.20 per 1000, and the prevalence of central retinal vein occlusion is 0.8 per 1000. The market in Asia Pacific is anticipated to expand at a high CAGR in the next few years, due to rise in the geriatric population, improvement in health care infrastructure, and increase in awareness about eye disorders in developing countries.

Major players operating in the global retinal vein occlusion market include GlaxoSmithKline plc, Sanofi, Johnson & Johnson Services, Inc., AstraZeneca, Bausch & Lomb Incorporated, Bristol-Myers Squibb Company, Bayer AG, Sun Pharmaceutical Industries Ltd., Regeneron, and Allergan.