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.
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
- US
- 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)
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Diabetic Retinopathy Market, by Type
Chapter 5: Diabetic Retinopathy Market, by Treatment Type
Chapter 6: Diabetic Retinopathy Market, by Region
Chapter 7: Company Profiles
List of Tables
List of Figures
Executive Summary
According to a new report titled, “Diabetic Retinopathy Market by Type, Treatment Type: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global diabetic retinopathy market size 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 (DR) is a medical condition of the eye prevalent in diabetic individuals. It is mainly caused due to damage of the blood vessels of the retina. Without timely treatment, the disease leads to bleeding in the eyes, cloudy vision, and may even destroy the retina. DR is among the common cause of loss of vision in the diabetic population. DR is among the most common causes of preventable blindness and severe visual impairment.
The market is expected to witness significant growth during the forecast period due to factors such as increase in prevalence of diabetes, growth in geriatric population, rise in incidence of blindness owing to diabetes, and augment in focus on awareness, which facilitate early diagnosis to control the disease. Although these factors garner the growth of the market, dearth of skilled ophthalmologists and extended approval time for drugs can pose as a major obstacle for the growth of the diabetic retinopathy market. On the other hand, emergence of combined therapies for treatment of diabetic macular edema, and the emerging markets of Asia-Pacific and LAMEA are anticipated to provide several opportunities for the market growth.
Proliferative diabetic retinopathy disease is one of the leading causes of blindness in diabetic patients. Moreover, nearly 20% of the people suffering from diabetic retinopathy (any type) have proliferative diabetic retinopathy.
The diabetic retinopathy market is segmented 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 type, the proliferative diabetic retinopathy segment currently dominates the global diabetic retinopathy market and is expected to continue during the forecast period owing to increasing prevalence of the medical condition worldwide. Globally, in 2017, among adults aged 45 and over with diagnosed diabetes, 32.2% had cataracts, 8.6% had diabetic retinopathy, 7.1% had glaucoma, and 4.3% had macular degeneration. This can serve as a major opportunity for manufacturers to capitalize and expand their market share.
On the basis of treatment type, the market is classified into anti VEGF drug, steroid implants, laser surgeries, and vitrectomy. The laser surgeries segment dominated the global diabetic retinopathy market in 2020 and is anticipated to be dominant in the market. Since this treatment type has been available in the market for a long period, there is high acceptance and familiarity with the procedure. Thus, laser surgeries serve to be the lucrative investment pocket.
North America accounted for a majority of the global diabetic retinopathy market share 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.
Key Findings Of Study
- By type, the proliferative diabetic retinopathy segment currently dominates the global diabetic retinopathy market and is expected to continue during the forecast period owing to increasing prevalence of the medical condition worldwide. Globally, in 2017, among adults aged 45 and over with diagnosed diabetes, 32.2% had cataracts, 8.6% had diabetic retinopathy, 7.1% had glaucoma, and 4.3% had macular degeneration This can serve as a major opportunity for manufacturers to capitalize and expand their market share
- By treatment type, the laser surgeries segment dominated the global diabetic retinopathy market in 2020 and is anticipated to be dominant in the market. Since this treatment type has been available in the market for a long period, there is high acceptance and familiarity with the procedure Thus, laser surgeries serve to be the lucrative investment pocket
- On the basis of region, in 2020, 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 diabetic retinopathy 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
Companies Mentioned
- 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.).
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 157 |
| Published | March 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 3086 million |
| Forecasted Market Value ( USD | $ 10785.5 million |
| Compound Annual Growth Rate | 13.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
