|02-11-2019 01:27 PM CET - Health & Medicine||
Diabetic Retinopathy Market Share Trends Analysis Growth reports Forecast 2019 with Novartis, Regeneron Pharmaceuticals, Inc., Genentech ,Allergan ,Bayer Andina
Press release from: Global Market Insights, Inc
Diabetic Retinopathy Market size was valued around USD 7 billion in 2016 and is anticipated to witness growth of over 6.5% CAGR from 2017 to 2024.
Rising number of baby boomers globally coupled with growing incidences of diabetes will act as primary drivers for diabetic retinopathy market. Elderly people are prone to suffer from chronic diseases such as diabetes as well as age related macular degeneration (AMD). According to National Eye Institute (NEI) estimates, nearly 5.4 million people in the U.S. will suffer from age related macular degeneration (AMD) by 2050.
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Growing adoption of sedentary lifestyle accompanied by unhealthy diet has escalated number of people suffering from obesity and increased incidence of diabetes. Further, factors such as prolonged undiagnosed diabetes, non-compliance to treatment, and uncontrolled blood pressure and glucose levels lead to occurrence of diabetic retinopathy. Rising incidences of vision loss due to diabetes will propel industry growth.
Presence of associations such as American Diabetes Association working towards creating awareness about diabetic retinopathy and related blindness will fuel market growth. Several efforts undertaken by domestic government to reduce disease prevalence by conducting programs such as diabetic eye screening (DES) program and various awareness campaigns will drive market growth. Rising healthcare expenditure, increasing demand for innovative treatment, technological advancements and growing R&D efforts for developing more efficient and affordable treatment for disease will drive diabetic retinopathy market over the forecast timeframe.
Non-proliferative diabetic retinopathy segment dominated global diabetic retinopathy market in 2016 and is estimated to follow similar trend over the forecast period. Increasing number of people suffering from diabetic retinopathy coupled with growing disease awareness will continue to drive non-proliferative diabetic retinopathy market.
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Technological advancements including laser treatment, injections pertaining to diabetic retinopathy treatment coupled with rising number of severe diabetic retinopathy cases will favour growth of proliferative diabetic retinopathy market over the coming years. Factors such as non-compliance to treatment, undiagnosed diabetes as well as less awareness about eye-check-ups and vision loss due to diabetes accelerates incidences of proliferative diabetic retinopathy.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
Regeneron Pharmaceuticals, Inc.
Anti-VEGH segment accounted for largest market share in 2016. Multifactorial benefits such as fewer chances of haemorrhages associated with anti-VEGF injection, better results delivered by anti-VEGF therapy as compared to other treatment methods coupled with technological advancement in Anti-VEGF therapy will drive Anti-VEGH diabetic retinopathy market over the forecast timeframe.
Intraocular steroid injection segment will witness considerable growth during the forecast timeframe owing to easy accessibility in clinics, growing demand for non-invasive treatment and less time required for procedure. Factors such as cataract formation and rise in eye pressure due to intraocular steroid injection may hinder market growth.
U.S. dominated North America diabetic retinopathy market in 2016 due to growing incidences of irreversible blindness due to diabetic retinopathy and rising adoption of unhealthy diet and sedentary lifestyle. Presence of several market players and associations such as American Diabetes Association working towards reducing disease prevalence in the country will fuel market growth. Increasing incidences of diabetes among elderly as well as youth population will further boost industry growth.
Rising number of people suffering from diabetes coupled with high technological adoption will drive Germany diabetic retinopathy market over the forecast period. Increasing healthcare expenditure along with growing research towards developing effective treatment for diabetes associated blindness will fuel market growth.
Growing geriatric population base and rising incidences of diabetes will act as major driver for Chinese diabetic retinopathy market. Numerous efforts undertaken by public and private players to increase awareness about diabetic retinopathy as well as reduce disease occurrence in the country will favour market growth. However, dearth of skilled ophthalmologists in the country will hinder industry growth over the coming years.
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Industry players are focusing towards developing effective solution for treating diabetes retinopathy. For instance, Lucentis developed by Genentech in April 2017 received U.S. FDA approval for use in treating all forms of diabetes retinopathy. Diabetic retinopathy is largely observed among elderly people. Hence increasing number of baby boomers will act as primary driver for the market. Technological advancements in laser treatment, intraocular steroid injections along with growing research and development activities towards developing innovative solutions for treating vision impairment associated with diabetes will drive diabetic retinopathy market during the forecast timeframe.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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