Retinal Vascular Occlusion (RVO) Market Overview
Retinal disease burden has continued to rise worldwide, more so among the geriatric population. Many of the retinal issues are linked with retinal vascular occlusion (RVO). Retinal vascular disease being one of the most common causes of vision loss remains a prime focus area of ophthalmic research. At present, the treatment options for both central retinal vein occlusion (CRVO) and branch retinal vein occlusion (BRVO) are limited and hence require greater R&D efforts. Increased incidence rate and inadequate treatment options could present growth opportunities for drug makers, particularly new entrants or start-ups who aim to compete with the industry leaders. Market Research Future (MRFR)’s recent study finds that the global market for RVO is set to surpass a valuation of USD 20 Bn by 2023-end, expanding at an impressive CAGR of 9.5% between 2017 and 2023.
The onset of RVO is often linked with other diseases such as diabetes, atherosclerosis, high blood pressure, glaucoma, coagulopathy, overweight, high cholesterol, cardiovascular and blood disorders. Aging is also reasoned in some cases. With growing number of cases, demand for treatment continues to rise. It is essential to receive treatment as early as possible in order to sustain minimum impact on vision. In the forthcoming years, more effective treatment modules for RVO is expected to arrive as many of the market players are raving up their R&D pipelines.
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Latest Industry Trends and News
- Israel-based pharmaceutical company is reportedly shutting down one of its manufacturing facilities situated in the Israeli port city of Ashdod after failing to find a suitor for the plant. The leading generic drug manufacturer is planning a major reshuffle for its global business to pay off its debts.
- Danish multinational pharmaceutical company NOVO NORDISK A/S has recently acquired more than DKK 1,000 Mn worth B shares from NOVO NORDISK holdings A/S. The move is aligned with its 2018 SHARE REPURCHASE PROGRAMME.
Retinal Vascular Occlusion (RVO) Market: Segmental Analysis
On the basis of types, the market has been bifurcated into retinal vascular occlusion and retinal artery occlusion. By condition, ischemic and non-ischemic are the two market segments discussed in the report. By diagnosis, the market segments discussed in the report include fluorescein angiography, optical coherence tomography (OCT), fundoscopic examination and others. By drugs, the market has been segmented into corticosteroid, fibrinolytic, anti-vascular endothelial growth factor (VEGF), anticoagulants and others. By surgery, the market has been segmented into radial optic neurotomy, chorioretinal venous anastomosis, laser retinal photocoagulation and others. By end user, research & academics, hospitals & clinics and others are the key segments mentioned in the report.
Retinal Vascular Occlusion (RVO) Market Regional Outlook
Among regions, the Americas currently command for a notable share of the global market. Higher healthcare expenditure by Americans and Canadians is playing a crucial role in driving the growth of the market in North America. Moreover, existence of advanced healthcare infrastructure in the region is auguring well for market participants. A heavy concentration of eye care centers and clinics in both the US and Canada allows faster introduction of a new treatment in an optimum way. Over the years incidence of RVO in Americas has increased considerably, which can be partly attributable to the rising prevalence of diabetes, obesity and expansion of the geriatric population. Many of the pharmaceutical companies present in the region are also emphasising on development for of more efficient RVO therapeutics, which is likely to favour the region’s market during the forecast period.
Retinal Vascular Occlusion (RVO) Market Competitive Dashboard
Bayer HealthCare Pharmaceuticals LLC, AstraZeneca PLC, Johnson & Johnson, Novo Nordisk, Regeneron Pharmaceuticals, Inc., Novartis AG, GlaxoSmithKline PLC, Teva pharmaceutical industries, Pfizer, Inc. and Sanofi are some of the important market participants mentioned in MRFR’s report.
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