Retinal vein occlusion (RVO) is a common vascular disorder of the retina and one of the most common causes of vision loss worldwide. However, it is the second most common cause of vision loss from retinal vascular disease after diabetic retinopathy. The market for retinal vein occlusion is expected to grow at an exponential rate owing to an increasing prevalence of eye diseases and chronic diseases such as diabetes, which are major risk factors for eye disease. Furthermore, rising demand for better treatment methods for eye diseases is fueling the market growth. Consequently, the majority of the market players have a great opportunity in this market as they use strategic approaches such as geographical expansion.
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The retinal vein occlusion market is changing continuously during the last few decades and is expecting a huge development in coming future. Through extensive research, it is found that the market players have adopted the strategy of FDA approvals and acquisitions to expand their market. The key players involved in this strategy are Allergan, Bayer, Bristol-Myers Squibb, Regeneron Pharmaceuticals, Ellex Medical Lasers, GlaxoSmithKline Plc, IRIDEX Corporation. FDA approvals (25%) was the most widely adopted strategy which was adopted by the key market players. The number of key market players involved in distribution agreement (30%), collaboration (15%) and clinical trials (10%), and others were comparatively low. The market players which were involved in others are Novartis, Quantel Medical Inc, Topcon Medical Systems, Inc., and ZEISS among others in the global retinal vein occlusion market.
However, high cost and side-effects associated with the treatment may affect the growth of the global retinal vein occlusion market negatively.
The global retinal vein occlusion market is expected to grow at a CAGR of 11.2% during the forecast period 2017-2023.
The global retinal vein occlusion market is segmented on the basis of type, condition, diagnosis, treatment and end user.
On the basis the type, it is segmented into branch retinal artery occlusion and central retinal vein occlusion.
On the basis of the condition, it is segmented into non-ischemic and ischemic.
Based on the diagnosis, it is segmented into optical coherence tomography (OCT), fundoscopic examination, fluorescein angiography, and others.
On the basis of treatment, it is segmented into antivascular endothelial growth factor, corticosteroid drugs, laser retinal photocoagulation, and others.
On the basis of the end users, it is segmented into hospitals and clinics, research & academics centers, and others.
The Americas dominate the global retinal vein occlusion market owing to the increasing prevalence of patients, the presence of major market players, improvement in surgical outcomes, the presence of a strong economic condition, and focus of research institutions on updating technology for new and advanced treatment methods for retinal vein occlusion.
Europe holds the second position in the market owing to increasing support from the government, the presence of huge geriatric population, and high healthcare spending. According to the Organization for Economic Co-operation and Development (OECD), the healthcare expenditure in Germany was EUR 321 billion in 2014, France recorded the second highest level of current health care expenditure of EUR 237 billion.
Asia Pacific is the fastest growing market owing to more number of developing nations present in this region, for instance, countries like India and China. These countries are encouraging the growth of the retinal vein occlusion market.
The Middle East & Africa is expected to hold the least market share due to less availability of medical facilities, and less development in the healthcare domain. However, countries such as Qatar and Kuwait are focusing more on the healthcare sector and developing medical facilities, which will boost the market of this region.
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Some of the key players in this market are Allergan, Bayer, Bristol-Myers Squibb, Regeneron Pharmaceuticals, Ellex Medical Lasers, GlaxoSmithKline Plc, IRIDEX Corporation, Novartis, Quantel Medical Inc, Topcon Medical Systems, Inc., ZEISS, Lumenis, Sanofi Aventis, Valeant Pharmaceuticals, Alimera Sciences, Fovea Pharmaceuticals SA, Icon Biosciences, Suzuken Co.Ltd, Genentech, Inc., Ranbaxy Pharmaceuticals, Johnson & Johnson Services, Inc, Teva Pharmaceutical, Pfizer Inc., Astrazeneca, Aerpio Therapeutics Inc, Annexin Pharmaceuticals AB and others.
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