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Proliferative Diabetic Retinopathy (PDR) Global Market to Observe Highest Growth of $3.62 Billion with an Excellent CAGR of 10.6% by 2028 | Pfizer Inc., AbbVie Inc., Bayer AG, Novartis AG, Sanofi S.A.
Proliferative Diabetic Retinopathy (PDR) Market
According to The Business Research Company's, the proliferative diabetic retinopathy (pdr) market size has grown rapidly in recent years. It will grow from $2.16 billion in 2023 to $2.42 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth in the historic period can be attributed to growing diabetes prevalence, changes in lifestyle and intake of unhealthy foods, government initiatives, rising numbers of diabetes-related loss of vision.
The proliferative diabetic retinopathy (pdr) market size is expected to see rapid growth in the next few years. It will grow to $3.62 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to aging population, public awareness and education about diabetes, research and development funding, rising demand for combination therapies. Major trends in the forecast period include advancements in diagnostic technologies, innovations in treatment options, artificial intelligence (ai) for early diagnosis, gene therapy advancements, advanced retinal imaging.
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Market Drivers and Trends:
The rising prevalence of diabetes is expected to propel the growth of the proliferative diabetic retinopathy (PDR) market going forward. Diabetes is a chronic medical condition characterized by elevated glucose (sugar) levels in the blood. Diabetes is the leading cause of proliferative diabetic retinopathy disease, which can be treated by various methods that prevent further damage to the retina and preserve vision.
Major companies operating in the proliferative diabetic retinopathy market continuously focus on developing novel therapies to enhance treatment effectiveness, reduce treatment burden and improve patient outcomes. For example, in June 2022, Biogen, a US-based biotechnology company and Samsung Bioepis, a South Korea-based biotech company, introduced Byooviz (ranibizumab-nuna), the first ophthalmology biosimilar in the US. These products are used to treat patients with diabetic macular edema, proliferative diabetic retinopathy, neovascular age-related macular degeneration (wet AMD) and choroidal neovascularization.
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Major Key Players of the Market:
Pfizer Inc., Johnson and Johnson Limited, F. Hoffmann-La Roche Ltd., Merck and Co. Inc., AbbVie Inc., Bayer AG, Novartis AG, Sanofi S.A., Bristol-Myers Squibb Company, AstraZeneca PLC, GSK PLC, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Amgen Inc., Novo Nordisk A/S, Boehringer Ingelheim International GmbH, Merck KGaA, Kubota Vision Inc., Teva Pharmaceutical Industries Ltd., Regeneron Pharmaceuticals Inc., Mylan N.V., Santen Pharmaceutical Co. Ltd., Lupin Limited, Genentech Inc., Sirnaomics Inc.
Proliferative Diabetic Retinopathy (PDR) Market 2024 Key Insights:
• The proliferative diabetic retinopathy (pdr) market size is expected to see rapid growth in the next few years. It will grow to $3.62 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%.
• Rising Diabetes Prevalence Boosts Growth In The Proliferative Diabetic Retinopathy (PDR) Market
• Innovative Therapies Revolutionize Proliferative Diabetic Retinopathy Treatment Landscape.
• North America was the largest region in the proliferative diabetic retinopathy market in 2023.
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