Diabetic Retinopathy Market Expected to Witness a Sustainable Growth by 2025
Diabetes is a lifelong chronic disease caused by excessive levels of glucose in the blood mainly due to lack or insufficiency of insulin hormone to metabolize the glucose in the blood. This accumulated glucose level in the blood does not reach body cells and severely affects multiple organs such as kidneys, eyes, nerves, blood vessels, and heart.
Diabetic Retinopathy is one of the common diabetic eye diseases characterized by the damaged blood vessels in the retina. The damaged blood vessels and nerves lead to blurring of vision, vision impairment, and eye hemorrhage. If left untreated, it may lead to retinal detachment and blindness. Non Proliferative Diabetic Retinopathy (NDPR) and Proliferative Diabetic Retinopathy (PDR) are the two stages of diabetic retinopathy. Diabetic retinopathy can be treated through medicines, laser surgery, and vitrectomy. Diabetic retinopathy can develop in any individual suffering from type 1 or type 2 diabetes. This disease is the leading cause of blindness in the U.S.
Increase in prevalence of diabetes across the globe is anticipated to drive the diabetic retinopathy market. According to National Center for Biotechnology Information, 126 million people were affected by diabetic retinopathy in 2010; more than 191 people are likely to be affected by Diabetic retinopathy by 2030. According to the American National Health and Nutrition Examination Survey conducted between 2005 and 2008, 28.5% of diabetic patients had some degree of DR, while 4.4% of patients suffered from vision threatening diabetic retinopathy. Increase in geriatric population, high prevalence of obesity, and rise in sedentary lifestyle are the key factors driving the global diabetic retinopathy market.
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Furthermore, increase in awareness about the early detection of Diabetic retinopathy among diabetic patients across the globe, rise in healthcare facilities in emerging and developed countries, and availability of multiple treatment options with advanced technology are the factors propelling the market. However, negligence of Diabetic retinopathy, poor planning of Diabetic retinopathy treatment in low income countries, and lack of skilled professionals for treatment of Diabetic retinopathy in emerging and less developed countries are the key restraining factors of the market.
The global diabetic retinopathy market can be segmented based on stages of diabetic retinopathy, type of treatment, end-user, and region. There are primarily two stages of diabetic retinopathy: Non proliferative diabetic retinopathy (NPDR) and Proliferative Diabetic Retinopathy (PDR). NPDR is early stage of Diabetic retinopathy characterized by the leakage of blood vessels, resulting in deposition of blood and blood components in retina. PDR is the advanced stage of Diabetic retinopathy characterized by abnormal growth of blood vessel, which results in swelling of retina called Diabetic Macular Edema (DME). Diabtetic retinopathy can be treated and controlled through injections of Vascular Endothelial Growth Factor (VEGF), laser treatments, and vitrectomy. Laser treatment is further classified into focal laser treatment and scattered laser treatment.
In terms of geography, the global diabetic retinopathy market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the market during the forecast period owing to the rise in prevalence of diabetic retinopathy patients in the region, increase in healthcare infrastructure, and growth in awareness about Diabetic retinopathy among diabetic patients. Asia Pacific is estimated to follow North America, led by the increase in diabetic population and changing lifestyle of people in the region. Asia Pacific is expected to maintain the highest growth rate during the forecast period. Middle East & Africa is projected to be the least attractive market primarily due to the presence of low income groups, lack of skilled professionals, and poor accessibility to healthcare facilities in the region.
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Key players operating in the global diabetic retinopathy market are ThromboGenics N.V., F. Hoffmann-La Roche Ltd, Bayer AG, Novartis AG., Allergan Inc., Abbott Laboratories Inc., Pfizer Inc., and Valeant Pharmaceutical International, Inc. New business development through acquisitions and mergers, and establishment of subsidiaries in emerging economies are some of the common trends observed in the global diabetic retinopathy market.