Diabetic Retinopathy Market to Witness a Pronounce Growth by 2020
In initial stages diabetic retinopathy may not show any symptoms and later may lead to severe vision loss. Proliferated and non-proliferated are the major stages of diabetic retinopathy. Proliferated diabetic retinopathy is the most dangerous stage. Proliferated diabetic retinopathy has the risk of detachment or hemorrhage into the vitreous leading to severe vision loss. Diabetic retinopathy is treated by many ways depending upon the stage of diabetic retinopathy. It is one of the leading causes of blindness in American adults. According to WHO estimates, in 2012, 347 million people were suffering from diabetes globally, of which 11% had diabetic retinopathy. In the U.S., diabetic retinopathy affected around 4.1 million people, while vision-threatening retinopathy was estimated to have affected 899,000 people, in 2010. Diabetic retinopathy is treated with the help of medications and surgeries such as vitrectomy. In addition, control in levels of diabetes is also essential for the treatment of diabetic retinopathy.
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North America dominates the global market for diabetic retinopathy due to large number of aging population. Asia is expected to show high growth rates in the next five years in the global diabetic retinopathy market. China and India are expected to be the fastest growing diabetic retinopathy markets in Asia-Pacific region. Some of the key driving forces for diabetic retinopathy market in emerging countries are large pool of patients and rising government support and funding.
In recent times there is increase in diabetic retinopathy due to increasing prevalence of diabetics. Global aging population and change in lifestyle are some of the key factors driving the growth for the global diabetic retinopathy market. In addition, increasing healthcare awareness is also fuelling the growth of global diabetic retinopathy market. However, lack of accurate diagnosis of the disease and poor primary healthcare infrastructure and lack of insurance are some of the major factors restraining the growth for the global diabetic retinopathy market.
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Rising initiatives towards healthcare infrastructure would lead to growth in diabetic retinopathy market in Asia. Some of the trends for the global diabetic retinopathy market are increase in awareness of diabetic retinopathy treatment and increase use of electronic medical record in ophthalmology. Some of the major companies operating in the global diabetic retinopathy market are Novartis AG., F. Hoffmann-La Roche Ltd., Bayer AG, Pfizer, Inc., Allergan Inc., Isis Pharmaceuticals, Inc., Valeant Pharmaceuticals, Inc., Abbott Laboratories, Inc. and Regeneron Pharmaceuticals, Inc.
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