Diabetic Retinopathy Market size is set to exceed USD 12 billion by 2025; according to a new research report by Global Market Insights.
Increasing geriatric population in developed economies will positively influence the diabetic retinopathy market growth in forthcoming years. According to Population Reference Bureau, there are around 46 million Americans in the age group of 65 years and above. Majority of the geriatric population suffering from diabetes acquire diabetic retinopathy. This scenario proves beneficial for the industry growth as it elevates the demand for medications and surgeries. Furthermore, geriatric population prefers non-invasive laser surgeries available for improving vision that should augment the industry growth.
Rising prevalence of diabetes in emerging economies due to lifestyle changes should spur the industry growth in forthcoming years. Asian countries such as India, China and Japan have huge population suffering from diabetes. According to WHO, in 2015 around 69 million people in India had diabetes. Diabetes affects eye functioning to some extent and hence, majority of people having elevated sugar levels suffer from diabetic retinopathy that stimulates the industry growth. However, complications associated with the medications and surgical procedures may hamper the industry growth.
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Non-proliferative diabetic retinopathy segment was valued at USD 5.6 billion in 2018 and is projected to witness significant growth during forecast years. Prevalence of non-proliferative diabetic retinopathy is more as compared to proliferative diabetic retinopathy in people suffering from diabetes. Non-proliferative diabetic retinopathy can be cured by medications if diagnosed in early stages. Therefore, increase in demand for medications and injectables should boost the segmental growth.
Laser surgery segment is expected to have 9.2% growth throughout the analysis timeframe. Significant growth rate can be associated with increasing preference for minimally invasive laser surgery by geriatric population. Recently developed devices and instruments utilized in laser surgical procedures are efficient and provide high precision that enhances the surgical success rates. Moreover, laser surgeries have minimum complications that further propels its demand.
40-49 age group segment accounted for 39.3% in 2018 and will grow significantly throughout the analysis period. People in 40-49 years age group usually suffer from type 1 diabetes that increases their chances of acquiring proliferative diabetic retinopathy. Also, as majority of people in this age group are employed, they prefer undergoing treatments that ensures fast recovery. Most of the ophthalmic surgeries are performed on an outpatient basis and patients can resume their daily activities that ensures high segmental growth.
Eye clinics segment is expected to experience 6.9% growth during analysis timeframe. Stupendous segmental growth can be associated with increasing preference of diabetes that affects the functioning of eye. In developed as well as developing countries, clinician in eye clinics are exceptionally skilled and have immense knowledge regarding treatment of eye diseases. Aforementioned factors are projected to drive the segment growth.
Browse key industry insights spread across 120 pages with 115 market data tables & 9 figures & charts from the report, “Diabetic Retinopathy Market Size By Type (Proliferative Diabetic Retinopathy, Non-Proliferative Diabetic Retinopathy), By Age Group (40-49, 50-64, 65-74), By Management (Anti-VEGF, Intraocular Steroid Injection, Laser Surgery, Vitrectomy), By Distribution Channel (Hospitals & Pharmacies, Eye Clinics, Ambulatory Surgical Centers (ASCs)), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Japan, India, China, Australia, South Korea, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE), Application Potential, Competitive Market Share & Forecast, 2019 - 2025” in detail along with the table of contents:
Europe diabetic retinopathy market was valued at 2.3 billion in 2018. Considerable revenue size can be associated with the high awareness level regarding availability of technologically advanced treatment options. Moreover, due to developed healthcare infrastructure, ambulatory surgical centers and eye clinics in Europe are well equipped with advanced surgical that positively impacts the regional market growth. Above mentioned factors coupled with favorable demographic trends is expected to drive the industry growth in coming years.
Few major industry players in the diabetic retinopathy market include Novartis, Regeneron Pharmaceuticals, Genentech, Allergan and Bayer AG, Aerpio Pharmaceuticals, Ampio Pharmaceuticals, BCN Peptides, ThromboGenics, Kowa Company, and Alimera Sciences. Acquisitions, mergers and new product launch are some of the strategies that help these players in attaining sustainable market position. FDA approvals for new products proves beneficial for company’s growth. For instance, in September 2014, Regeneron Pharmaceuticals received FDA approval for injection manufactured for treating patients with diabetic retinopathy. Thus, receiving FDA approvals will foster company’s growth.
Diabetic retinopathy market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2014 to 2025, for the following segments:
Diabetic Retinopathy Market, By Type (USD million)
- Proliferative Diabetic Retinopathy
- Non-proliferative diabetic retinopathy
Diabetic Retinopathy Market, By Management (USD million)
- Intraocular Steroid Injection
- Laser Surgery
Diabetic Retinopathy Market, By Age Group (USD million)
Diabetic Retinopathy Market, By Distribution Channel (USD million)
- Eye Clinics
- Ambulatory surgical centers (ASCs)
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia