Diabetic Retinopathy Market Size By Type (Proliferative Diabetic Retinopathy, Non-Proliferative Diabetic Retinopathy), By Management (Anti VEGF Drug, Intra-ocular Steroid Injections, Laser Surgeries, Vitrectomy), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Japan, China, Brazil and South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023
Published Date: June 2016 | 75 Pages | Report ID: GMI486 Report Format: PDF
Diabetic Retinopathy Market size in 2015 was USD 6.5 billion, it is forecast to grow at 6.9% CAGR from 2016 to 2023.
UK Diabetic Retinopathy Market size, by application, 2012-2023 (USD Million)
Growing incidence and prevalence of diabetes, growing cases of diabetes-associated blindness, rising geriatric population and improved awareness related to early diagnosis are some of the key factors forecast to drive the global diabetic retinopathy market size.
Increasing geriatric population will substantially influence the diabetic retinopathy market size, as old age is considered a primary risk factor. WHO estimates predict that the geriatric population percentage is estimated to rise from 7% in 2000 to 16% by 2050. At present, the population base of people aged over 65 years in the U.S. alone is 40 million, this number if anticipated to double by 2050.
Diabetes is among the major causes of blindness. According to AAO estimates, the prevalence rate for retinopathy among diabetic adults over 40 years was more than 28% in the U.S. To prevent eye complications that eventually leads to blindness, patients seek early diagnosis methods and techniques, accelerating demand. Technological advancements will fuel diabetic retinopathy market growth. Use of instruments including slit lamps, technically advanced inventions in retinal screening and the launch of products such as Gly-230 and Optina will boost the industry growth.
Diabetic Retinopathy Market, By Type
Non-proliferative diabetic retinopathy market size is the leading segment, and is projected to surpass USD 7.5 billion by 2023. Inaccurate diagnosis, non-compliance to retinal screening and growing diabetes incidence should boost revenue.
Proliferative diabetic retinopathy market is projected to witness 7.5% CAGR from 2016 to 2023. Growing geriatric patient pool and rising incidence of diabetes will drive the industry in the coming years. Laser surgery will witness growth at 9.4% CAGR estimation over the forecast period. The demand for laser surgery for diabetic retinopathy will grow over coming years owing to increasing geriatric population and rising diabetes prevalence.
Anti-VEGF held more than 90% of diabetic retinopathy market share in 2015 and is expected to grow at 6% from 2016 to 2023. Vitrectomy will witness a healthy 8.7% CAGR over the forecast period due to early detection of minor to severe cases of non-proliferative treatment.
Diabetic Retinopathy Market, By Region
U.S. diabetic retinopathy market share was more than 85% of regional revenue in 2015. The business growth will be accelerated by increased access to and availability of anti-VEGF drugs including Lucentis, Eylea and Avastin, and growing awareness regarding early diagnosis to prevent diabetes-related blindness. Furthermore, established healthcare infrastructure, improved access to treatment and favorable regulatory scenario will boost the global industry revenue growth over the forecast years.
Japan diabetic retinopathy market share was more than 40% of the regional revenue in 2015. Presence of huge geriatric population coupled with sophisticated healthcare infrastructure and improved healthcare access will stimulate business growth.
Brazil diabetic retinopathy market is projected to witness attractive growth of more than 7.4% from 2016 to 2023. Increasing diabetes prevalence and presence of favorable government initiatives should propel revenue. However, inadequate healthcare access and lack of skilled ophthalmologists will hinder industry growth prospects.
Competitive Market Share
Some of the key players in the diabetic retinopathy market include Bayer, Valeant Pharmaceutical, Novartis, F. Hoffmann-La Roche, Alimera Science, Abbott Laboratories, Pfizer, Regeneron Pharmaceutical, and Ampio Pharmaceuticals. Other notable players include Actavis, Boehringer Ingelheim, Kowa group, BCN peptides, ThromboGenics, Bausch & Lomb, iCo Therapeutics, Quark Pharmaceuticals and Vitreoretinal Technologies among others.
Geographic expansion, strategic acquisitions, agreements, new product launches and partnerships are the chief implemented strategies and polices by most companies operating in the diabetic retinopathy market space.
Diabetic Retinopathy Industry Background
Innovation and technological advancements will remain among the key industry drivers over the next few years. Companies are investing enormously in R&D processes to offer distinguished solutions and gain competitive advantage. The global industry is driven by growing government focus on reducing disease burden costs owing to growing diabetes prevalence and affected population base.
Government efforts for increasing patient awareness to inspire early laser eye surgery and consistent retinal screening to avoid permanent damage to the retina, along with refining reimbursement guidelines will positively impact profitability of key industry participants.
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