Growing prevalence of diabetes and atherosclerosis are the major factors causing retinal vein occlusion. This can be attributed to rapidly changing dietary habits and increasing smoking activities. More than 40 million population smoke cigarettes in the U.S., the CDC and nearly USD 170 billion is spent on medical care of smoking related conditions. Smoking is one of the major causes of hypertension, leading to RVO. Moreover, atherosclerosis is a life threating disease and around 735,000 Americans die from it every year, CDC. For many years, ophthalmologists had few options for RVO as well as diagnostic techniques. At present, increasing treatment options are showing promising outcome in the treatment of RVO. Early diagnostic techniques are also offering better management and helping in avoiding serious damage to the retina.
Prevalence of Non-ischemic CRVO is increasing
CRVO is segmented into non-ischemic and ischemic CRVO. Ischemic CRVO is more threatening than the non- ischemic as it can cause permanent blindness. Moreover, non-ischemic CRVO accounts for around 75% of cases, American Academy of Ophthalmology Organization. Diabetes and hypertension are major triggering factors to develop non-ischemic CRVO. Increasing diabetic population and its associated risk factors such as diabetic retinopathy has increased prevalence of non-ischemic CRVO worldwide. Geriatric population has been found be at the higher risk as they are more prone to diabetes. For instance, around 23.1 million adults aged 65 years or above have prediabetes in the U.S., the American Association of Diabetes Educators.
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Future of European Retinal vein occlusion Market
Global retinal vein occlusion market is segmented by the Americas, Asia Pacific, Europe, and the Middle East and Africa.
Europe is the second leading retinal vein occlusion market globally due to high prevalence of disease and concentration of RVO drug manufacturers in the region. For instance, Allergen headquarters in Ireland has manufactured Ozurdex drug for the treatment of Retinal Vein Occlusion and this drug was approved by the Chinese Food and Drug Administration, and it is expected to benefit 7.4 million Chinese patients.
In addition, Bayer Pharmaceutical have also received approval for Eylea drug from the European Commission in 2018. This medication can be used for the treatment of AMD, diabetic macular edema (DME), and retinal vein occlusion (RVO). Moreover, increasing prevalence of RVO has coasted around USD 3.38 billion to the U.K, National Center for Biotechnology Information (NCBI).
Middle East and Africa is experiencing a steady growth in the global retinal vein occlusion market thanks to rising population of obesity, hypertension, and heart disease in the region. For instance, around 54% of the Middle Eastern population die of heart diseases, WHO. Moreover, lack of drug availability in African region may hinder the region retinal vein occlusion market growth.
Regeneron Pharmaceuticals, Inc. is one of the leading biotechnological company, which is involved in the manufacturing of the EYLEA. EYLEA, is a VEGF inhibitor and a prominent drug used for different indications such as diabetic radiotherapy, AMD, and RVO. It is one of the oldest drugs and have strong foothold in the global market.
Some of the other players active in the market are Bayer AG, Genentech, ALLERGAN, Bristol-Myers Squibb Company, Novartis AG, and F. Hoffmann-La Roche Ltd.
Retinal Vein Occlusion Market Segmentation
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