Diabetic Retinopathy Market to expand $2,490 Million by 2022, Globally

Global market the diabetic retinopathy market was valued at $966 million in 2015, and is projected to reach $2,490 million by 2022, growing at a CAGR of 14.4% from 2016 to 2022. The proliferative diabetic retinopathy segment accounted for more than half of the total market in 2015.

Diabetic retinopathy (DR) is an eye disease associated with diabetic patients. The disease occurs when there is damage to the retina due to diabetes. Without timely treatment, the disease may lead to bleeding in the eyes, cloudy vision, and may even destroy the retina. DR is amongst the common cause of loss of vision in the diabetic population; eventually leading to blindness.

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The market is expected to witness significant growth during the forecast period due to factors such as increase in prevalence of diabetes, growth in geriatric population, rise in incidence of blindness due to diabetes, and augment in focus on awareness, which facilitates early diagnosis to control the diseases. Although these factors garner the growth of the market, dearth of skilled ophthalmologists and extended approval time for drugs can pose as a major obstacle for the growth of the diabetic retinopathy market. On the other hand, emergence of combined therapies for treatment of diabetic macular edema, and the emerging markets of the Asia-Pacific and LAMEA regions are anticipated to provide several opportunities for the market growth.

Segment Review

Proliferative diabetic retinopathy segment accounted for a major market share in 2015 as the disease is one of the leading causes of blindness in diabetic patients. According to a 2014 NCBI article, nearly 1.5% of adults suffering from diabetes also have proliferative diabetic retinopathy (PDR), which is characterized by neovascularization of retina, leakage of serum, hemorrhage, and fibrovascular proliferation in the vitreous retinal interface. This further leads to vitreous hemorrhage and retinal detachment. Thus, if left untreated PDR may result into severe vision loss. Laser photocoagulation was one of the major methods to treat PDR during the past few years. Although photocoagulation showed excellent outcome in improving vision, it had its own drawbacks including paint during treatment and vitreous hemorrhage, which may even lead to loss of peripheral vision. Therefore, there was a need for newer modalities such as anti-VEGF for treating PDR. Anti-VEGF drugs are a group of medicines, which reduce new blood vessel growth or edema (swelling) in the eye. Anti-VEGF drugs overcome the drawbacks of laser treatment and thus the anti-VEGF market is expected to grow with a high CAGR during the forecast period.

Snapshot of Brazilian Diabetic Retinopathy Devices Market

Rise in focus of market vendors on emerging markets, namely, Asia-Pacific and LAMEA regions, is expected to boost the market growth. According to the estimates of The World Bank, the prevalence rate of diabetes was observed to be 10.4% in Brazilian population (age 20 to 79) in 2015. This accounts for nearly 14 million people suffering from diabetes in Brazil alone. As diabetes is one of the major risk factors for diabetic retinopathy, therefore increase in prevalence of diabetes is expected to lead to market growth. In addition, a 2014 article of NCBI reports that diabetic retinopathy was present in 7.62% of the Brazilian population that suffered from self-reported type 2 diabetes. Moreover, nearly 35.4% of patients diagnosed with diabetic retinopathy were unaware of the fact that they suffered from diabetes. In addition, prevalence of low vision and blindness is observed to be higher in individuals suffering from diabetes and DR. Therefore, there is a need for early diagnosis and treatment of diabetic retinopathy in the region. Thus, Brazil offers a huge customer base to the key players of diabetic retinopathy industry.

Clinical Trials

The diabetic retinopathy market witnessed several clinical trials in the recent years. North America accounted for the maximum number of trials (397) followed by Europe (237). Asia-Pacific and LAMEA accounted for a share of 20.2% (190) and 12.2% (115) respectively for the clinical trials in diabetic retinopathy market.

The list of key players profiled in this report include Abbott Laboratories, Alimera Science, Allergan plc, Ampio Pharmaceuticals., Bayer AG, F. Hoffmann-La Roche, Novartis International AG, Pfizer, Regeneron Pharmaceuticals Inc., and Valeant Pharmaceutical.

Key players in the value chain include Boehringer Ingelheim GmbH, KOWA Company, Ltd., BCN Peptides S.A., and ThromboGenics NV.

Key Findings of the Diabetic Retinopathy Market

• Based on treatment type, laser surgeries segment accounted for more than two-fifths of the total market in 2015.
• Anti-VEGF drugs accounted for more than one-third of the total market in 2015.
• Diabetic macular edema segment is expected to grow at a high CAGR of 14.6% from 2016-2022
• Asia-Pacific is expected grow at a high CAGR of 15.4%, owing to the presence of ample growth opportunities in terms of unmet medical needs for the treatment of diabetic retinopathy.

North America accounted for majority of the share (nearly two-fifths) in the market in 2015, and is expected to remain dominant throughout the forecast period. This is attributed to the increase in incidence of diabetes along with the rise in geriatric population, increased patient awareness about diabetic retinopathy, and favorable reimbursement framework for retinopathy procedures. In addition, presence of highly sophisticated healthcare infrastructure is anticipated to provide new growth opportunities for the key players in this market.

The major companies profiled in the report include Abbott Laboratories, Alimera Science, Allergan plc, Ampio Pharmaceuticals., Bayer AG, F. Hoffmann-La Roche, Novartis International AG, Pfizer, Regeneron Pharmaceuticals Inc., and Valeant Pharmaceutical. Other key players in the value chain include Boehringer Ingelheim GmbH, KOWA Company, Ltd., BCN Peptides S.A., and ThromboGenics NV.

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