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Diabetic Retinopathy Global Market Report 2024 - By Report, Size, Share, Growth, Forecast To 2033
Diabetic Retinopathy Market
The diabetic retinopathy market size is expected to see strong growth in the next few years. It will grow to $11.4 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to personalized medicine approaches, expansion of telemedicine services, development of novel therapeutic interventions, adoption of point-of-care testing, remote patient monitoring. Major trends in the forecast period include precision medicine in diabetic retinopathy treatment, increased focus on early detection and prevention, teleophthalmology services growth, rise in gene therapy research, continuous advancements in retinal imaging technology.
Market Overview -
Diabetic retinopathy is an eye condition that can lead to blindness and vision loss in people with diabetes, affecting blood vessels in the retina and the light-sensitive tissue layer in the back of the eye. It commonly causes diabetic macular edema (DME) and neovascular glaucoma.
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Exploring The Diabetic Retinopathy Market In A Diabetic-Prevalent World
The rising prevalence of diabetes is expected to propel the growth of the diabetic retinopathy market going forward. Diabetes refers to a long-term metabolic disease that causes high blood glucose levels. The rise in the prevalence of diabetes is mainly driven by overweight, obesity, genetics, and physical inactivity, whereas patients with diabetes have too much sugar in their blood, which can damage the retina, which is part of the eye that detects light and sends signals to your brain through a nerve in the back of eye. For instance, in November 2021, according to the International Diabetes Federation, a Belgium-based diabetes federation, the prevalence of diabetes was 10.5% worldwide in 2021, with over half (44.7%) of people still undiagnosed. Further, the diabetic population is expected to increase from 643 million (11.3%) by 2030 to 783 million (12.2%) by 2045. Therefore, the rising prevalence of diabetes is driving the growth of the diabetic retinopathy market.
Competitive Landscape -
Major companies operating in the diabetic retinopathy market report are Pfizer Inc., F-Hoffmann-La Roche Ltd., Abbvie Inc., Bayer AG, Novartis AG, Ellex Medical Lasers Ltd., Abbott Laboratories Inc., Regeneron Pharmaceuticals Inc., Bausch Health Companies Inc., Icon Bioscience Inc., Allergan plc., Genentech Inc., Aurobindo Pharma, Santen Pharmaceutical Co. Ltd., Carl Zeiss Meditec AG, Valeant Pharmaceuticals International Inc., Lumenis Ltd., Optos Plc., Quantel Medical SAS, NIDEK Co. Ltd., IRIDEX Corporation, Alimera Science Inc., Kowa Company Ltd., Ocular Therapeutix Inc., Aerpio Pharmaceuticals Inc., Kodiak Sciences Inc., Sirnaomics Inc., Oxurion NV, Graybug Vision Inc., Ampio Pharmaceuticals Inc.
Technological Evolution In Diabetic Retinopathy Detection
Technological advancements are a key trend gaining popularity in the diabetic retinopathy market. Major companies operating in the large volume parenteral market are adopting new technologies to sustain their position in the market. For instance, in July 2022, Baxter International Inc., a US-based healthcare company, launched Welch Allyn RetinaVue 100 Imager PRO in South Korea. These technologies are intended to allow for the detection of diabetic retinopathy in primary care settings. RetinaVue has proven to increase patient compliance for potentially life-saving annual diabetic retinal exams (DREs) by screening patients quickly and comfortably during a routine primary care visit.
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Key Segments -
The diabetic retinopathy market covered in this report is segmented -
1) By Type: Proliferative Diabetic Retinopathy, Non-Proliferative Diabetic Retinopathy
2) By Treatment: Anti-VEGF Drugs, Intraocular Steroid Injection, Laser Photocoagulation, Vitreoretinal Surgery
3) By End-User: Hospitals, Ambulatory Surgical Centers, Other End Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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