The diabetic retinopathy market is projected to expand USD 6650 Mn at a 6.50% CAGR during the forecast period 2022-2030.
Diabetic Retinopathy Market Overview
During the projection period, the diabetic retinopathy market is projected to expand USD 6650 mn at a CAGR 6.50% during the forecast period 2022-2030. Diabetes mellitus (DM) is a long-term condition defined by high blood glucose levels caused by insufficient insulin synthesis or insulin resistance. Diabetic retinopathy is a consequence of diabetes that results in retinal damage. This illness causes vision loss and eventually blindness. Diabetic retinopathy has a significant economic impact on healthcare systems, in addition to the direct impact on patients' quality of life. Diabetic retinopathy is the most common cause of legal blindness in those aged 20 to 74.
An increase in diabetes prevalence, a rise in the senior population, an increase in the incidence of diabetes-related blindness, and a greater focus on early identification to manage diseases are driving the market. As new technology and minimally painful laser procedures with quick recovery become accessible, patients' willingness to undergo surgical treatments is expected to rise. Furthermore, new ophthalmic gadgets and systems have simplified diagnostic and surgical procedures, which has aided the industry's expansion.
The Global Diabetic Retinopathy Market has been segmented based on type, treatment, end-user, and region.
The market, based on type, has been segmented into non-proliferative and proliferative.
The market, based on treatment, has been segmented into anti-VEGF drugs, laser photocoagulation, vitreoretinal surgery, and steroid injection.
The market, based on end-user, has been segmented into hospitals, ambulatory surgical centers, and others.
The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The diabetic retinopathy market in the Americas has further segmented into North America and Latin America, with the North American market divided into the US and Canada. The European diabetic retinopathy industry has been sub-divided into Western Europe and Eastern Europe. Western Europe has further the as Germany, France, UK, Italy, Spain, and the rest of Western Europe. The market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The diabetic retinopathy Industry in the Middle East & Africa has been divided into the Middle East and Africa.
The key players in the Global Diabetic Retinopathy Market are F.Hoffmann-La Roche AG, Regeneron Pharmaceuticals, Inc., Alimera Sciences, Ampio Pharmaceuticals Inc., Aurolab, Allergan PLC, Abbott Laboratories, and others.
Regional Market Summary
Diabetic Retinopathy Global Market Share by Region, 2018 (%)
Source: World Health Organization (WHO)
The market in the Americas is expected to dominate the diabetic retinopathy market due to the presence of major established players in the region and increasing R&D expenses.
Europe is expected to hold the second-largest position in the diabetic retinopathy global market. This can be attributed to the presence of a well-established healthcare system and an increased prevalence of diabetes.
Asia-Pacific is expected to be the fastest-growing regional market owing to the increasing pool of population and increasing awareness about the products.
The diabetic retinopathy market in the Middle East & Africa is projected to account for the least share of the global market due to low disposable income in the region.Recent Development
A team of University of Pennsylvania researchers discovered that taking a medicine used to lower cholesterol levels in the bloodstream can minimize the likelihood of developing proliferative diabetic retinopathy (PDR) from non-proliferative diabetic retinopathy (NPDR). The researchers talked about their cohort study, which included 5,835 patients who took fenofibrate and 144,417 who didn't, and what they learned regarding the drug's efficacy in reducing DME, PDR, and vision-threatening diabetic retinopathy (VTDR).
iHealthScreen Inc. has announced that the iPredictTM Automated AI System for Early Diagnosis of Diabetic Retinopathy (DR), Age-Related Macular Degeneration (AMD), and Glaucoma Suspect was approved by the Australian Health. The AI Eye Screening System does completely automated diabetic retinopathy, age-related macular degeneration, and glaucoma suspect screening. Primary care and specialized practices can use the iPredictTM System to effectively and quickly screen diabetic patients for DR, persons over 50 for AMD, and people with a suspected risk of glaucoma.
Global Diabetic Retinopathy Market, by Type
Global Diabetic Retinopathy Market, by Treatment
Global Diabetic Retinopathy Market, by End User
Global Diabetic Retinopathy Market, by Region
|Market Size||USD 6650 million: 2030|
|CAGR||6.50% CAGR :2030|
|Forecast Units||Value (USD million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||type, treatment, end-user|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||F.Hoffmann-La Roche AG, Regeneron Pharmaceuticals, Inc., Alimera Sciences, Ampio Pharmaceuticals Inc., Aurolab, Allergan PLC, Abbott Laboratories|
|Key Market Opportunities||lack of awareness about treatment|
|Key Market Drivers||
The valuation was USD 6650 million valuation in 2030.
The projected CAGR 6.50% during the forecast period of 2022-2030.
F.Hoffmann-La Roche AG, Regeneron Pharmaceuticals, Inc., Alimera Sciences, Ampio Pharmaceuticals Inc., Aurolab, Allergan PLC, Abbott Laboratories, and others. are key players of the Diabetic Retinopathy Market
The treatments are vitreoretinal surgery, laser photocoagulation, anti-VEGF drugs, and steroid injection.
Ambulatory surgical centers, hospitals, and others have been recorded as a part of the market report.
The types included in the report are non-proliferative and proliferative.