Press release
Global Diabetic Retinopathy Treatment Market Report and Forecast 2024-2032
Diabetic retinopathy, a diabetes complication that affects the eyes, is caused by damage to the blood vessels of the light-sensitive tissue at the back of the eye (retina). It's a leading cause of blindness in adults and its treatment is essential for preventing severe vision loss. The treatment for diabetic retinopathy includes a combination of approaches such as medication, laser treatments, and surgery, depending on the severity of the condition.
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The increasing incidence of diabetes globally, fuelled by factors such as sedentary lifestyle, unhealthy dietary habits, and genetic predispositions, is a primary driver of the diabetic retinopathy treatment market growth. With more individuals being diagnosed with diabetes, the demand for effective treatment options for its complications, like diabetic retinopathy, is on the rise.
Moreover, advancements in medical technologies are playing a crucial role in the market's expansion. Innovative treatment methods like anti-VEGF (Vascular Endothelial Growth Factor) therapy, which involves the injection of medications into the eye to stop the growth of new blood vessels, and laser photocoagulation therapy, a procedure that uses laser to destroy leaking blood vessels in the retina, have significantly improved treatment outcomes. These advanced treatments not only help in controlling vision loss but also in restoring some degree of vision in patients with diabetic retinopathy.
Another factor contributing to the diabetic retinopathy treatment market demand is the increasing awareness and early diagnosis of diabetic retinopathy. Governments and health organisations worldwide are implementing various programs to raise awareness about diabetes and its complications. Early detection and treatment of diabetic retinopathy can prevent significant vision loss, thereby driving the demand for screening and treatment services.
The diabetic retinopathy treatment market outlook is being influenced by the rising geriatric population, which is more prone to chronic diseases such as diabetes. Older adults are at a higher risk of developing diabetic retinopathy, thus necessitating efficient and accessible treatment options.
Furthermore, the rise in healthcare expenditure and the availability of reimbursement policies are encouraging more patients to seek timely and effective treatment for diabetic retinopathy. This trend is particularly noticeable in developed countries where healthcare systems are more robust and offer comprehensive coverage for chronic diseases.
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Market Segmentation
The market can be divided based on type, treatment type, end use, and region.
Market Breakup by Type
Proliferative Diabetic Retinopathy
Non-proliferative Diabetic Retinopathy
Market Breakup by Treatment Type
Anti VEGF Drug
Steroid Implants
Laser Surgeries
Vitrectomy
Market Breakup by End Use
Hospitals
Ophthalmic Clinics
Ambulatory Surgical Centres
Market Breakup by Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global diabetic retinopathy treatment market. Some of the major players explored in the report by Expert Market Research are as follows:
ALIMERA SCIENCES, INC.
Genentech, Inc.
KalVista Pharmaceuticals, Inc.
Opthea Limited
Oxurion NV
Kubota Pharmaceutical Holdings Co., Ltd.
Others
FAQs based on the information provided about the global market for diabetic retinopathy treatment:
What was the value of the global market for diabetic retinopathy treatment in 2023?
In 2023, the global market for diabetic retinopathy treatment was valued at approximately USD 6.49 billion.
What is the expected growth rate of the diabetic retinopathy treatment industry in the coming years?
The diabetic retinopathy treatment industry is expected to grow at a Compound Annual Growth Rate (CAGR) of about 6.70% from 2024 to 2032.
What will be the estimated value of the diabetic retinopathy treatment market by 2032?
By the year 2032, the market for diabetic retinopathy treatment is projected to reach a value of around USD 11.63 billion.
Why is the diabetic retinopathy treatment market expected to grow in the coming years?
While the specifics are not provided, such growth can typically be attributed to factors like increasing prevalence of diabetes, advancements in treatment technologies, rising awareness about diabetic complications, and improved healthcare infrastructure.
How significant is the projected growth of the diabetic retinopathy treatment market between 2024 and 2032?
The projected growth is significant, nearly doubling the market value from USD 6.49 billion in 2023 to an estimated USD 11.63 billion by 2032.
What might be the key drivers behind the growth of the diabetic retinopathy treatment industry?
Key drivers could include technological advancements in treatment methods, increasing global diabetic population, greater access to healthcare services, rising investment in healthcare R&D, and growing awareness of the importance of early diagnosis and treatment of diabetic retinopathy.
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