Retinal Vein Occlusion Market Size, Share & Trends Analysis Report By Type (Branch Retinal Artery Occlusion , Central Retinal Vein Occlusion), By Condition (Non-Ischemic , Ischemic), By Diagnosis (Optical Coherence Tomography (OCT) , Fundoscopic Examination , Fluorescein Angiography , Others), By Treatment (Anti-Vascular Endothelial Growth Factor , Corticosteroid Drugs , Laser Retinal Photocoagulation , Others), By End-User (Hospitals , Clinics , Research and Academics Centers , Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

The global retinal vein occlusion market was valued at USD 14.32 billion in 2023. It is estimated to reach USD 32.58 billion by 2032, growing at a CAGR of 9.83% during the forecast period (2024–2032). The rising geriatric population drives the global retinal vein occlusion market, as this demographic is more prone to such diseases. Moreover, in recent years, people have adopted a sedentary lifestyle and poor dietary habits, which has led to a growing burden of obesity and diabetes, which further increases the risk of developing retinal vein occlusion, which, in turn, is estimated to create opportunities for retinal vein occlusion market expansion. 

Retinal vein occlusion is a vascular condition characterized by the obstruction of one or more retinal veins, resulting in compromised blood circulation. The retina, situated at the posterior part of the eye, is a layer of tissue sensitive to light and responsible for transmitting visual information to the brain. The two primary forms of retinal vein occlusion are central retinal vein occlusion (CRVO) and branch retinal vein occlusion (BRVO).

The risk factors associated with RVO are hypertension, diabetes, glaucoma, getting older, smoking, and specific hematological illnesses. Retinal vein occlusion can result in hemorrhage, edema, and fluid leaking into the retina, leading to visual impairment. Possible treatment modalities for retinal vein occlusion may encompass medications aimed at mitigating edema and managing underlying medical conditions like diabetes or hypertension. In some cases, doctors may recommend intraocular injections or laser therapy to reduce edema or the growth of abnormal blood vessels in the eye.

Highlights

• Branch retinal artery occlusion dominates the type segment 
• North America is the highest shareholder in the global market

Market Dynamics

Global Retinal Vein Occlusion Market Drivers:

Growing Geriatric Population

The increasing elderly population is a major driver for the RVO market. With increasing age, the likelihood of having retinal vein occlusion (RVO) rises, resulting in a greater need for efficacious treatments. Elderly people are at a higher risk of developing retinal vein occlusion (RVO) due to factors such as hypertension, atherosclerosis, and other disorders associated with aging. The incidence of RVO is directly correlated with age, rendering this demographic trend a pivotal determinant.

Moreover, the fall in the birth rate and rise in life expectancy has led to a demographic shift characterized by a surging proportion of elderly individuals. The geriatric population is growing in nearly every country worldwide. According to the United Nations Report, the global population aged 65 years and over reached 771 million in 2022, accounting for approximately 10% of the global population. Projections suggest that it is expected to increase to a rate of 16% by 2050 and is further predicted to rise to 24% by 2100.

Global Retinal Vein Occlusion Market Restraint:

Challenges in Diagnosis and Risk of Complications 

Early diagnosis and timely intervention are essential for effectively controlling RVO. However, identifying RVO can be difficult, particularly during its initial phases when symptoms may be subtle or not indicative of the condition. Insufficient knowledge regarding the illness among patients and healthcare providers might cause a delay in the diagnosis and commencement of treatment.

Treatment procedures for RVO, including intraocular injections, have potential risks of consequences, including infection, retinal detachment, or increased intraocular pressure. The possibility of these problems may discourage both patients and healthcare providers from pursuing intensive treatment techniques, especially in cases when the symptoms are mild or when the affected eye has limited visual capacity. Such factors restrict global market expansion.

Global Retinal Vein Occlusion Market Opportunities:

Lifestyle Changes

The prevalence of retinal vein occlusion instances is attributed to sedentary lifestyles, poor eating habits, and the escalating prevalence of diseases such as obesity and diabetes. These lifestyle variables can worsen underlying health concerns that contribute to RVO. According to the World Health Organization, the global prevalence of obesity exceeds 1 billion individuals, encompassing 650 million adults, 340 million adolescents, and 39 million children. The numerical value is continuing to rise. According to WHO projections, almost 167 million individuals, encompassing both adults and children, are expected to experience a decline in their overall health due to being overweight or obese by the year 2025.

Furthermore, in 2021, the International Diabetes Federation stated that there were 537 million adults worldwide, representing a prevalence of diabetes in 1 out of every 10 individuals. The forecasted estimate is expected to increase to 643 million by 2030 and 783.0 million by 2045. Similarly, a substantial proportion of the adult population, specifically 44%, amounting to a staggering 240 million persons, lack awareness of their diabetes diagnosis. The absence of a diagnosis has led to 6.7 million deaths in the year 2021. Consequently, lifestyle changes have increased in diseases such as obesity and diabetes, which is expected to generate opportunities for the expansion of the global market.

Regional Analysis

Based on region, the global retinal vein occlusion market share is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America Dominates the Global Market

North America is the most significant global retinal vein occlusion market shareholder and is expected to expand substantially during the forecast period. North America dominates a significant share of the global RVO market due to efficient healthcare infrastructure, a growing elderly population, and technological progress. The high incidence of eye conditions in this region stimulates the need for retinal vein occlusion (RVO) treatments. Moreover, individuals residing in this region exhibit a sedentary lifestyle and poor dietary practices. As per the CDC, fast food is a component of the American diet and has been linked to excessive calorie consumption and low-quality diet. Time, financial resources, pricing, and availability influence fast food consumption. Moreover, as stated in an article published in NLM, a staggering 92.7% of youngsters and 86.0% of adults in the United States reported consuming junk food to some extent daily. Consequently, there has been a rise in the prevalence of lifestyle illnesses such as obesity, which heightens the likelihood of developing retinal vein occlusion.

Furthermore, the Obesity Medicine Association reported that the adult obesity rate in the United States was predicted to be 42.4% in 2020. Based on the latest data from the CDC in 2021, over 70% of adults in the United States who are 20 years old or older are classified as either overweight or obese. However, North America boasts the highest healthcare expenditure worldwide, with a special focus on the United States, where healthcare spending accounts for 17.7% of public expenditure. In 2019, healthcare spending in the United States amounted to USD 3.8 trillion, representing a 4.6% increase compared to the previous year. As a result, all of these factors contribute to the expansion of the regional market.

In Asia-Pacific, the prevalence of eye disorders is increasing in nations such as China, Singapore, and Indonesia. The rise of the RVO market in this region is anticipated to be driven by a surge in healthcare spending and the adoption of new technologies. Moreover, the growing prevalence of risk factors linked to RVO, such as diabetes, hypertension, smoking, and an aging population, is propelling the market expansion. A study has revealed a considerably higher occurrence of diabetes in the population of India in comparison to previous assessments. Based on a recent study published in the Lancet, it is estimated that the occurrence of diabetes in India is 11.4%, impacting more than 101 million people. Research commissioned by the health ministry found that around 136 million individuals, including 15.3% of the population, may have pre-diabetes.

Furthermore, according to studies conducted by the United Nations Population Fund and the International Institute for Population Sciences, the population of individuals aged 60 years and older in 2022 (as of 1 July) was 149 million, representing around 10.5% of the country's total population. Moreover, the population is projected to double by the year 2050, reaching 20.8% with 347 million inhabitants. Therefore, the factors above contribute to the growth of the regional market.

Segmental Analysis

The global market for retinal vein occlusion is segmented by type, condition, diagnosis, treatment, and end-user.

Based on type, the global market for retinal vein occlusion is bifurcated into branch retinal artery occlusion and central retinal vein occlusion. 

The branch retinal artery occlusion segment accounted for the largest revenue share. Branch retinal artery occlusion (BRAO) results from the blockage of a small artery that provides blood to the retina. The retina, a vital light-responsive tissue that is responsible for visual perception, is situated in the posterior region of the eye. Blockage of a branch retinal artery reduces oxygen supply to the corresponding area of the retina by stopping blood flow, which may lead to vision loss. BRAO usually appears as acute, painless vision impairment in a single eye, frequently characterized as a curtain or shadow descending across the visual field. The degree of visual impairment is contingent upon the obstructed artery's dimensions and placement and the retinal involvement level.

Based on the condition, the global market for retinal vein occlusion is bifurcated into non-ischemic and ischemic retinal vein occlusion.

Non-ischemic retinal vein occlusion (RVO) is a disease characterized by the obstruction or occlusion of a retinal vein, resulting in compromised blood circulation inside the retina. In cases with non-ischemic RVO, the obstruction in the vein is not sufficiently severe to result in substantial harm or death (ischemia) to the retinal tissue. This indicates that despite a decrease in blood flow, there is still enough oxygen and nutrients to support the retinal cells in the damaged regions. Non-ischemic retinal vein occlusion (RVO) generally has a more favorable outlook than ischemic RVO, which entails more severe obstruction and might result in more substantial visual impairment and consequences.

Based on diagnosis, the global retinal vein occlusion market is bifurcated into optical coherence tomography (OCT), fundoscopic examination, fluorescein angiography, and others.

Fundoscopic examination, commonly called ophthalmoscopy or fundoscopy, is a medical process employed to inspect the posterior segment of the eye, encompassing the retina, optic disc, blood vessels, and other intraocular components. During a fundoscopic examination, the patient assumes a seated or standing position while the healthcare provider illuminates the eye with a powerful light using the ophthalmoscope. Subsequently, the healthcare provider examines the internal structures of the eye by peering through the viewing lens of the equipment. The healthcare professional can evaluate for abnormalities, including retinal detachment, diabetic retinopathy, hypertensive retinopathy, optic nerve abnormalities, and other eye-related diseases, by analyzing the retina, optic disc, and blood vessels.

Based on treatment, the global retinal vein occlusion market is bifurcated into anti-vascular endothelial growth factor, corticosteroid drugs, laser retinal photocoagulation, and others.

Laser retinal photocoagulation is a frequently employed medical method for treating retinal vascular blockage. The procedure employs a laser to induce little burns or scars on the retina, to seal leaking blood vessels, or to eliminate abnormal tissue. Throughout the operation, the patient's eye is anesthetized locally to eliminate sensation, and the laser is precisely directed toward the afflicted regions of the retina using either a specialized microscope known as a slit lamp or an indirect ophthalmoscope. The laser induces localized, regulated thermal damage to halt fluid escape or close the retinal fissures. Laser retinal photocoagulation is widely regarded as a secure and efficient therapy for various retinal ailments and is frequently conducted as an outpatient procedure.

Based on end-users, the global market for retinal vein occlusion is bifurcated into hospitals, clinics, research and academic centers, and others.

Hospitals are the main end-users of retinal vein occlusion treatment and diagnosis, which is a significant factor in expanding this market. Hospitals usually employ a multidisciplinary approach to treat retinal vein occlusion (RVO), which may require various interventions such as medicines, laser therapy, surgical procedures, and intravitreal implants. Hospitals play a crucial role in expanding the segment by efficiently providing close monitoring for patients with RVO. This monitoring helps assess the response to treatment, diagnose problems, and make necessary adjustments to therapy.

Impact of covid-19

As part of steps to control the transmission of the COVID-19 pandemic, governments in several nations have limited the movement of commodities and people and suspended the functioning of manufacturing facilities. It has impacted power usage throughout the world. As per the short-term forecast of the United States Energy Information Administration (EIA), electricity consumption in the United States is expected to fall by a record 4.5% by the end of 2020, as businesses have temporarily shut down due to the government lockdowns to stop the prevalence of the coronavirus. As a result, global demand for and manufacturing instrument transformers is expected to fall.

Recent Developments

• October 2023- Genentech, a member of the Roche Group, announced that the U.S. Food and Drug Administration (FDA) approved Vabysmo® (faricimab-svoa) for the treatment of macular edema following retinal vein occlusion (RVO).
• November 2023- Lupin Ltd and Amman Pharmaceuticals Industries formed an exclusive licensing and supply deal in the Middle East and North Africa (MENA) region for the biosimilar Ranibizumab, a drug used to treat eye disorders. Ranibizumab is a recombinant humanized IgG1 monoclonal antibody fragment designed to block the activity of vascular endothelial growth factor A (VEGF-A). It treats various diseases, including Retinal Vein Occlusion (RVO).