Diabetic Retinopathy Market is Expected to Reach US$ 11,427.3 Mn by 2025, Due to Surge in the Prevalence of Diabetes
“The Diabetic Retinopathy Market is increasing at significant CAGR over the forecast period 2019-2025 and expected to reach US$ 11,427.3 Mn by 2025, due to rise in prevalence of diabetes in various countries around the world”
Precision Business Insights (PBI) in its report titled “Diabetic Retinopathy Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The global diabetic retinopathy market expected to reach US$ 11,427.3 Mn by 2025. The diabetic retinopathy market is growing at significant CAGR over the forecast years due to increase in the prevalence of diabetic retinopathy around the globe. For instance, according to American Academy of Ophthalmology, approximately 93 Mn adults were living with diabetic retinopathy around the globe and it affects 1 out of 3 persons with diabetes. Moreover, availability of advanced treatment procedures such as minimally invasive surgical procedures for diabetic retinopathy, rise in awareness about the disease among the population, increase in the demand for early stage disease diagnosis, and favorable reimbursement policies for the ophthalmic surgeries are anticipated to propel the diabetic retinopathy market over the forecast years. However, high cost of advanced diabetic retinopathy treatment, lack of skilled professionals in underdeveloped economies, post-procedure complications, and stringent regulatory guidelines are the factors impede the diabetic retinopathy market over the forecast timeframe.
Diabetes care devices market segmented on the basis of disease type, treatment, end user, and region.
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Anti-VEGF Segment Expected to Dominate the Market
Based on treatment type, the diabetic retinopathy market is segmented into anti-VEGF treatment, intraocular steroid injection, laser surgery, and vitrectomy. Anti-VEGF treatment dominated the global diabetic retinopathy market in 2018 and the market is growing at significant CAGR over the forecast period owing to rise in use of these drugs in early stage diabetic retinopathy for better treatment and faster recovery. Moreover, rise in R&D for the development of newer drugs also boost the market over the forecast years. For instance, in April 2017, Roche received FDA approval for Lucentis (Ranibizumab Injection) 0.3 mg prefilled syringe used in the treatment of diabetic retinopathy and diabetic macular edema.
North America Accounts for Major Revenue Share for Diabetic Retinopathy Market
Precision Business Insights (PBI), diabetic retinopathy market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Among all regions, North America dominated the global diabetic retinopathy market and the market is expected to grow at prominent growth rate over the forecast years owing to favorable reimbursement policies for ophthalmic surgeries, increase in the prevalence of diabetes in U.S. and Canada, and presence of huge number of market players in the region. For instance, according to CDC 2015, approximately 30 Mn Americans have diabetes and another 84 Mn have prediabetes that may leads to type 2 diabetes within 5 years if they are not treated. In addition, Europe diabetic retinopathy market creates lucrative opportunities over the forecast years owing to increase in the prevalence of diabetic retinopathy in Europe. For instance, according to American Academy of Ophthalmology, approximately 3%–4.1% of Europeans are affected by diabetic retinopathy and the disease prevalence is high in those over age 60 is highest in France, followed by Germany.
Strategic Alliances and Launch of Newer Products in Diabetic Retinopathy Market
Ø In May 2019, Regeneron Pharmaceutical received FDA approval for Eylea (Aflibercept) injection, an anti-VEGF drug used in the treatment of all stages of diabetic retinopathy
Key player’s profiles in the report are Abbott Laboratories, F. Hoffmann La Roche Ltd., Regeneron Pharmaceuticals, Inc., Bayer AG, Novartis AG, Pfizer, Inc., Allergan plc, Valeant Pharmaceutical International Inc., and Alimera Sciences
By Disease Type
- Proliferative Diabetic Retinopathy
- Diabetic Macular Edema
- Intraocular steroid injection
- Laser surgery
- Hospitals and Clinics
- Diabetic Care Centers
- Ambulatory Surgical Centers
By End User
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
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