Retinal Vascular Occlusion (RVO) is the build-up of blood or other fluids in the retina of the eye, which prevents it from properly filtering light caused by the blood clot. RVO may result in a sudden loss of vision, which can be permanent if not treated urgently. RVO is a common vascular disorder and one of the most common causes of vision loss worldwide. Taking into consideration other eye diseases RVO is the second most common cause of blindness after diabetic retinopathy. RVO affects one eye. However, approximately 6%-14% of cases it can also affect both eyes. RVO has an incidence rate of 2.2 cases per 1000 of general population older than 40 years and 5.4 cases per 1000 of general population older than 64 years.
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The global retinal vascular occlusion market is experiencing growing demand due to increasing older population, increasing screening, greater emphasis on restorative procedures, the urgency of the RVO treatment, and others. The market restraints are the complications such as the risk of bleeding, infections, pain, especially during surgery, the high cost of retinal vascular occlusion treatment, lack of eye care infrastructure, and lack of focus on other diseases by developing regions, and others.
The global retinal vascular occlusion market is expected to reach USD 20.7 billion by 2023, and the market is projected to grow at a CAGR of ~ 9.5 % during the forecast period 2017-2023.
The global retinal vascular occlusion market has been segmented on the basis of types, condition, diagnosis, drugs, surgery, and end user.
Based on the types, the market has been segmented as retinal artery occlusion & retinal vascular occlusion.
Based on the condition, the market has been segmented as non-ischemic and ischemic.
Based on the diagnosis, the market has been segmented as fundoscopic examination, optical coherence tomography (OCT), fluorescein angiography, and others.
Based on the drugs, the market has been segmented as an anti-vascular endothelial growth factor (VEGF), corticosteroid, anticoagulants, fibrinolytic, and others.
Based on the surgery, the market has been segmented as laser retinal photocoagulation, chorioretinal venous anastomosis, radial optic neurotomy, and others.
Based on the end user, the market has been segmented as hospitals and clinics, research and academics, and others.
Some of the key players profiled in the report are Regeneron Pharmaceuticals, Inc., Bayer HealthCare Pharmaceuticals LLC, Novartis AG, Pfizer, Inc., AstraZeneca PLC, GlaxoSmithKline PLC, Johnson & Johnson, Teva pharmaceutical industries, Novo Nordisk, Sanofi, and others.
The Americas account for a significant market share owing to high expenditure on the health care, especially, of the U.S. and Canada. Additionally, the greater number of ophthalmology procedures due to greater healthcare penetration in the U.S. and Canada drives the retinal vascular occlusion market. The high concentration of the major hospitals in the developed countries of this region coupled with good reimbursement rates is adding fuel to the market growth. Moreover, the large share of ophthalmology procedures, especially, the retinal vascular occlusion surgery treatment in the returns of hospitals favors the market. The large number of pharmaceutical companies in the U.S. is also a cause for the faster development of retinal vascular occlusion market in the US. The high development of the microsurgery field in developed regions such as the U.S. and Europe is a strong driver of the market.
Europe is the second largest market in the world due to growing pharmaceutical industry and healthcare penetration. The European market growth is led by countries such as Germany and France. Germany is expected to be the fastest growing market over the assessment period due to its large pharmaceutical and microsurgery devices industry.
Asia Pacific region is expected to grow rapidly; China and India are likely to lead this market due to fast-growing healthcare sector and large unmet needs over the forecast period. South East Asian countries such as China, India, and Malaysia are projected to contribute highly to the market growth. The growing penetration of healthcare industry in the Asia Pacific region is expected to drive the future retinal vascular occlusion market in the region. However, the low expenditure on ophthalmology and eye care coupled with the lack of insurance penetration in the developing regions is a dent in the market.
Gulf nations such as Saudi Arabia and the UAE are estimated to drive the Middle East & African market. Other Middle East nations to watch out for are Kuwait, Jordan, Egypt, and Iran. The African region is expected to witness a poor growth owing to poor economic and political conditions, and poor healthcare development. Other regions are expected to be laggards due to the poor social development and tribal identities such as sub-Saharan Africa. The focus of the governments of poor countries on fulfilling basic healthcare relegates the retinal vascular occlusion market to the background, which hampers the development of the market.
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Detailed Table of Contents:
1. Report Prologue
2.2 Scope Of The Study
2.2.1 Research Objective
2.3 Market Structure
2.4. Market Segmentation
3. Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4. Market Dynamics
4.4 Mega Trends
4.5 Macroeconomic Indicators
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