Diabetic Retinopathy Market by Type (Proliferative Diabetic Retinopathy, Diabetic Macular Edema (DME)), and Treatment Type (Anti VEGF Drug, Steroid Implants, Laser Surgeries, and Vitrectomy): Global Opportunity Analysis and Industry Forecast, 2020–2030
The global diabetic retinopathy market was valued at $3,086.00 million in 2020, and is projected to reach $10,785.50 million by 2030, registering a CAGR of 13.7% from 2021 to 2030.
Diabetic retinopathy is blood vessel damage in the retina that happens as a result of diabetes. Diabetic retinopathy can cause a range of symptoms, including blurred vision, difficulty seeing colors, and eye floaters. Without treatment, it can cause vision loss. Diabetic retinopathy is the leading cause of new cases of blindness in adults, as well as the most common cause of vision loss for people with diabetes. People may not have any early symptoms of diabetic retinopathy.
The diabetic retinopathy market has witnessed tremendous growth owing to technological advancements in the ophthalmic surgical and diagnostic instruments. Moreover, optical coherence tomography and other technologically upgraded devices utilized in diagnosis provide superior quality cross-sectional images that allow doctor to make better decisions. In addition, surgical instruments have enhanced precision that improves the surgery success rates. Thus, availability of such upgraded ophthalmic devices and instruments have facilitated the diagnostic and surgical procedures that positively impact the industry growth. However, complications and adverse reactions associated with the medications prescribed for minimizing the impact of diabetic retinopathy may hamper the industry growth to some extent.
The Diabetic Retinopathy market in this report is studied on the basis of type, treatment type, and region. On the basis of type, the market is divided by proliferative diabetic retinopathy and diabetic macular edema (DME). On the basis of treatment type, the market is classified into anti VEGF drug, steroid implants, laser surgeries, and vitrectomy. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Increase in the geriatric populations, rise in focus and awareness of early diagnosis in order to control the growth of the disease, surge in prevalence of diabetes, and growth in incidence of blindness due to diabetes drive the growth of the market. However, this growth is limited by dearth of skilled ophthalmologists and extended approval time for drugs. Conversely, emergence of combined therapies for treatment of diabetic macular edema and the emerging markets of Asia-Pacific and LAMEA are expected to provide several opportunities for market growth during the forecast period.
Region wise, this market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market in 2020, owing to high prevalence of DR in this region, coupled with well-established infrastructure and increasing initiatives by the government to create awareness that would help people undergo screening for DR. However, Asia-Pacific is expected to witness considerable market growth during the forecast period, due to high population base, high disposable incomes, and improvement in patient awareness about the treatment of diabetic retinopathy.
The major players operating in the global Diabetic Retinopathy market are Alimera Science, Inc., Abbvie, Inc., Ampio Pharmaceuticals, Inc., Bayer AG, Kowa Co., Ltd., Novartis, Pfizer, Inc., Regeneron Pharmaceuticals, Inc., F-Hoffmann-La Roche Ltd, Valeant Pharmaceuticals International, Inc. (Bausch Health Companies Inc.). These players adopted product launch, collaboration, and merger & acquisition as their key developmental strategies.
KEY BENEFITS FOR STAKEHOLDERS
The report provides in-depth analysis of the global diabetic retinopathy market size along with the current trends and future estimations to elucidate the imminent investment pockets.
It offers market analysis from 2021 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
A comprehensive analysis on region assists to understand the regional market and facilitate the strategic business planning and determine prevailing opportunities.
The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global diabetic retinopathy market growth.
KEY MARKET SEGMENTS
By Type
Proliferative Diabetic Retinopathy
Diabetic Macular Edema (DME)
By Treatment Type
Anti VEGF Drug
Steroid Implants
Laser Surgeries
Vitrectomy
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
List of key players profiled in the report:
Alimera Science, Inc.
Abbvie, Inc.
Ampio Pharmaceuticals, Inc.
Bayer AG
Kowa Co., Ltd.
Novartis
Pfizer, Inc.
Regeneron Pharmaceuticals, Inc.
F-Hoffmann-La Roche Ltd.
Valeant Pharmaceuticals International, Inc. (Bausch Health Companies Inc.)
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