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Diabetic Retinopathy Market: Proliferating Growth Rates, Driving Factors and Future Outlook from 2024 to 2029
Diabetic Retinopathy Market Size
What Is The Projected Market Size Of The Global Diabetic Retinopathy Market And Its Growth Rate?
Estimated growth rates and market size figures of the diabetic retinopathy market.
• 2024 Market Size: $8.61 billion
• 2025 Market Size: $9.29 billion (compound annual growth rate (CAGR) of 7.9%)
• 2029 Market Size: $12.56 billion (compound annual growth rate (CAGR) of 7.8%)
Increase in growth rates could be attributed to a combination of aging population, increasing prevalence of diabetes, growing awareness about diabetic retinopathy, improved healthcare infrastructure, rising healthcare expenditure, personalized medicine approaches, expansion of telemedicine services, development of novel therapeutic interventions, adoption of point-of-care testing, and remote patient monitoring.
What Is Driving The Growth In The Diabetic Retinopathy Market?
The principal driver of growth in the diabetic retinopathy market is considered to be the rising prevalence of diabetes. Diabetes is a long-term metabolic disease that results in high blood glucose levels. Factors influencing high diabetes rates are overweight, obesity, genetics, and physical inactivity. High levels of sugar in the blood of diabetes patients can damage the retina, the part of the eye that detects light and sends signals to the brain. This rise in diabetes levels has been illustrated by the March 2024 data from the Office for Health Improvement and Disparities, a UK-based government department. According to them, in the period from March 2022 to March 2023, the percentage of individuals with both types of diabetes, receiving all eight recommended care processes, increased between 21% to 22%. The proportion of people meeting target HbA1c levels reached 37.9%, the highest ever recorded by the National Diabetes Audit. Therefore, the prevalence of diabetes elevates growth rates for the diabetic retinopathy market.
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Who Are the Key Players Driving Diabetic Retinopathy Market Growth?
Key players contributing to the growth of the diabetic retinopathy market include:
• 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.
• Oxurion NV
• Graybug Vision Inc.
• Ampio Pharmaceuticals Inc.
What Are The Key Trends In The Diabetic Retinopathy Market?
Key trends shaping the market dynamics of the diabetic retinopathy industry include:
• Precision medicine in diabetic retinopathy treatment.
• Increased focus on early detection and prevention.
• Expansion of teleophthalmology services.
• Rise in gene therapy research.
• Continuous advancements in retinal imaging technology.
What Are The Segments Of The Global Diabetic Retinopathy Market?
Segments of the global diabetic retinopathy market include:
• By Type: Proliferative Diabetic Retinopathy, Non-Proliferative Diabetic Retinopathy.
• By Treatment: Anti-VEGF Drugs, Intraocular Steroid Injection, Laser Photocoagulation, Vitreoretinal Surgery.
• By End-User: Hospitals, Ambulatory Surgical Centers, Other End Users.
Which Region Leads The Diabetic Retinopathy Market?
North America emerged as the largest region in the diabetic retinopathy market in 2024. However, Asia-Pacific is expected to experience the fastest growth in the forecast period. The coverage in the diabetic retinopathy market report includes areas like Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Diabetic Retinopathy Market Global Market Report?
- Market Size Analysis: Analyze the Diabetic Retinopathy Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Diabetic Retinopathy Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Diabetic Retinopathy Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Diabetic Retinopathy Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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