Global Diabetic Retinopathy Market - 2022-2029

Global Diabetic Retinopathy Market - 2022-2029

Market Overview

Digital Agriculture Market size was valued at US$ YY million in 2021 and is estimated to reach US$ YY million by 2029, growing at a CAGR of 6.9% during the forecast period (2022-2029).

Diabetes mellitus harms the retina's blood vessels, referred to as diabetic retinopathy (DR). There are two different types of this condition: non-proliferative DR and proliferative or advanced DR. It is brought on by changes in blood glucose levels, which cause the light-sensitive tissues in the eye to grow abnormally. Dark spots or floating strings can be seen in the field of vision, along with blurred or erratic vision, reduced color perception, and even loss of vision. Treatment options include intraocular steroid injection, laser surgery, and vitrectomy. It can be diagnosed using tests like fluorescein angiography and optical coherence tomography.

Market Dynamics

The increasing prevalence of diabetes, rising incidence of diabetes-related blindness, and technological advancements in ophthalmic surgical and diagnostic instruments will enable diabetic retinopathy are the factors to drive the market in the forecast period.

Technological advancement in diagnosing diabetic retinopathy is expected to drive market growth.

Retina Labs has pioneered teleretinal screening for diabetic retinopathy and other ocular disorders. The iVision teleophthalmology platform, hosted in the cloud, provides an integrated solution that combines advanced ocular imaging, clinical interpretation and reporting tools, and electronic referrals. The company's solutions enable healthcare providers to improve access to high-quality eye care while streamlining processes for managing chronic eye diseases such as diabetic retinopathy, glaucoma, age-related macular degeneration, and retinopathy of prematurity. iVision is a teleophthalmology platform designed for health systems, primary care providers, and health plans looking to close care gaps in diabetic eye disease, improve outcomes, and lower costs. Thus, from the above factors, the market is expected to drive in the forecast period.

Side effects associated with the drugs treating diabetic retinopathy are expected to hamper the market growth.

The serious side effects of the LUCENTIS (ranibizumab) drug include infections inside the eye, cataracts, and detached retinas, which can cause blurry vision, light sensitivity, and cloudy vision. Some patients have experienced increased eye pressure before and after injection—moreover, sometimes fatal, blood clot-related problems, such as heart attacks or strokes. Although there were only a few fatal events, the causes of death were typical of patients with advanced diabetic complications. Thus, from the above factors, the market is expected to hamper in the forecast period.

COVID-19 Impact Analysis

COVID-19 impacted the diabetic retinopathy(DR) market negatively. According to the International Agency for the Prevention of Blindness (IAPB) report 2021, everybody was essentially affected, regardless of their location or type of organization. At least 60% of DR initiatives had their budgets cut or were completely abandoned. Changes in DR services have the biggest effects on elderly patients with multiple diseases. Reduced access to services is significantly impacted by remoteness and low socioeconomic status. The most impacted individuals are also all levels of healthcare professionals. The market is also affected by new obstacles related to the purchase of tools and medications, a rise in the administrative burden brought on by shifting targets and associated reporting, and growing difficulty in securing funding for initiatives to improve eye health.

Furthermore, the introduction of teleophthalmology and patient flow management were common strategies to retain services, as was task shifting, which was complex but potentially important in providing resilient services, and increased reliance on non-face-to-face communication channels. Thus, from the above factors, the market got affected and is expected to improve in the forecast period.

Segment Analysis

Laser Surgery segment is expected to hold the largest market share in diabetic retinopathy

The laser surgery segment accounted for the largest market share in 2021. Laser treatment usually works well to prevent vision loss before the retina has been severely damaged. Macular edema may benefit as well. This can reduce the swelling of the retina. Laser surgery can also helps in shrinking blood vessels and prevent them from growing again.

Moreover, severe proliferative retinopathy is treated using a more aggressive laser therapy known as scattering (pan-retinal) photocoagulation. It allows doctors to control the spread of new blood vessels across the retina's back. Therefore, there is increased demand for laser surgery for treating diabetic retinopathy. Thus, from the above factors, the market segment accounted for the largest market share in the forecast period.

Geographical Analysis

North America region holds the largest market share in the global diabetic retinopathy market

North America region accounted for the largest market share in 2021. The increasing prevalence of diabetes, the rising geriatric population, increasing FDA approvals in the region and increasing awareness about diabetic retinopathy among people are the factors to drive the market in the forecast period. For instance, according to the IDF Diabetes Atlas 10th Edition, an estimated 51 million adults aged 20-29 were living with diabetes in the IDF NAC region in 2021, representing a regional prevalence of 14.6%. The region has the second-highest number of children and adolescents with type 1 diabetes (193,000).

Additionally, on June 29, 2022, Regeneron Pharmaceuticals, Inc. announced the U.S. FDA has accepted for review the EYLEA (aflibercept) Injection supplemental Biologics License Application (sBLA) for every 16-week 2 mg dosing regimen (after initial monthly doses) in patients with diabetic retinopathy (DR). The target action date for the FDA decision is on February 28, 2023. Thus, from the above-mentioned factors, the North America region accounted for the largest market share in the forecast period.

Competitive Landscape

Major key players in the diabetic retinopathy market are Abbott Laboratories, Alimera Science, Allergan plc, Ampio Pharmaceuticals, Bayer AG, Hoffmann-La Roche, Novartis International AG, Glycadia Pharmaceuticals, Regeneron Pharmaceuticals Inc and Valeant Pharmaceutical.

Regeneron Pharmaceuticals, Inc.:

Overview:

Regeneron Pharmaceuticals, Inc. is a biotechnology company headquartered in Tarrytown in 1988. The company engages in the discovery, invention, development, manufacture, and commercialization of medicines. The biopharmaceutical company develops and manufactures medicines designed to treat a range of illnesses, including asthma, chronic pain, cancer, and infectious diseases. Product portfolio includes the following brands such as EYLEA, Dupixent, Praluent, Kevzara, Libtayo, ARCALYST, and ZALTRAP.

Product Portfolio:

EYLEA (AFLIBERCEPT) INJECTION: EYLEA is the only vascular endothelial growth factor (VEGF) inhibitor approved with two dosing options for diabetic retinopathy (DR). EYLEA helps in treating all stages of diabetic retinopathy (DR), thereby reducing the risk of blindness.

The global diabetic retinopathy market report would provide an access to an approx. 45+market data table, 40+figures and 180pages.