ID: MRFR/MED/4336-HCR | February 2021 | Region: Global | 95 pages
During the projection period, the diabetic retinopathy market is projected to expand at a CAGR of 11.9 percent during the forecast period. Diabetes retinopathy refers to a group of eye illnesses that affect diabetic people. High blood sugar levels cause the destruction of the blood vessels in the retina. This causes blood vessels to enlarge and leak, or the blood vessels might close, preventing blood from passing over. The market is driven by an increase in the prevalence of diabetes, a rise in the geriatric population, an increase in the incidence of diabetes-related blindness, and a greater focus on earlier detection to manage diseases. However, the shortage of qualified ophthalmologists and the long time it takes for medications to be approved are limiting this increase.
Patients' willingness to accept surgical treatments is predicted to increase as advanced technology, and minimally painful laser procedures with speedy recovery become available. Technological improvements in ophthalmic surgical and imaging devices will fuel diabetic retinopathy market expansion during the forecast years. Optical coherence tomography and other technologically advanced diagnostic technologies produce better cross-sectional images, allowing doctors to make better conclusions. Furthermore, surgical instruments are more precise, which improves surgery success rates. As a result, the availability of such improved ophthalmic devices and systems has made diagnostic and surgical operations easier, which has benefited the industry's growth.
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.
Mar 2022 Pohang University of Science and Technology (POSTECH) researchers have developed smart LED contact lenses to prevent and treat diabetic retinopathy in its early stages. The wearable device irradiates the retina with a 120 W far-red/LED light. The researchers used diabetic animal models to test their revolutionary gadget and discovered that animals who wore the smart contact lenses for 15 minutes three times a week for a total of eight weeks did not develop diabetic retinopathy. The animals who did not use the lenses, on the other hand, developed retinopathic diseases.
Mar 2022 Baxter International has partnered with the artificial intelligence firm behind a diabetic retinopathy automated test for a relationship centered on the company's recently acquired Welch Allyn retinal camera. Digital Diagnostics, which received one of the first AI clearances from the FDA in 2018 with its IDx-DR system, will collaborate with Baxter to obtain an additional FDA green light that will allow the software to work with the RetinaVue 700 Imager. The businesses hope to receive the new clearance in 2023, and the AI arrangement will be exclusive in the United States but nonexclusive elsewhere. The FDA has previously approved IDx-DR for use with Topcon's NW400 retinal camera, situated in Tokyo.
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||2018: USD 1,309.73 Billion|
|Forecast Units||Value (USD Billion)|
|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||
Frequently Asked Questions (FAQ) :
The valuation was USD 1,309.73 billion.
The projected CAGR would be 11.9% during the forecast period of 2019 to 2025.
The types included in the report are non-proliferative and proliferative.
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.