Diabetic Retinopathy Market Size to Reach USD 15.01 Billion in 2028
Rising prevalence of diabetes and increasing incidences of blindness among people with severe diabetic conditions are expected to fuel the global market growth
The global diabetic retinopathy market size is expected to reach USD by 15.01 billion 2028 at a CAGR of 7.3%, according to a new report by Reports and Data. Rising prevalence of chronic conditions such as diabetes, increasing cases of diabetic retinopathy among diabetic patients, and growing preferences for technologically advanced and minimally invasive procedures are among the major factors responsible for the growth of the global diabetic retinopathy market in the upcoming years. Booming geriatric population worldwide and their growing susceptibility to chronic diseases such as diabetes, cardiovascular disorders, and sleep disorders further boost market growth to a significant extent.
Diabetic retinopathy is a severe medical condition in which diabetes affects the eyes. The principal cause of diabetic retinopathy is damage to the blood vessels of the light-sensitive tissue of the retina. The most common symptoms of this condition include blurred vision, fluctuating vision, dark or empty areas in the vision, impaired color vision, and vision loss. Excessive amount of sugar in blood leads to the blockage of the tiny blood vessels of the retina and hamper blood supply. Mild-to-moderate cases of diabetic retinopathy may be treated with the help of effective diabetes management; however, advanced cases require laser treatment or surgical procedures.
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Some Key Highlights in the Report:
- Non-proliferative diabetic retinopathy segment is projected to register the highest CAGR of 7.5% over the forecast period. Rising prevalence of non-proliferative diabetic retinopathy among diabetic patients is one of the most vital factors driving this segment’s growth.
- On the basis of management, the anti-VEGF segment dominated tin terms of revenue in 2020. The segment is expected to maintain its dominance throughout the forecast period, owing to increasing applications of anti-VEGF drugs including Eylea, Lucentis, Avastin, and Macugen in the treatment of mild-to-moderate cases of diabetic retinopathy is one of the key factors accountable for the growth of this segment.
- Among the various distribution channels, the hospitals segment held the largest revenue share in the global diabetic retinopathy market in 2020. Increasing availability of diagnostic instruments in hospitals and pharmacies worldwide and growing number of treatment procedures for diabetic retinopathy bolster the growth of this segment.
- The North America diabetic retinopathy market is the most dominant regional market in terms of revenue. Growing prevalence of diabetes, increasing use of anti-VEGF drugs including Avastin, Eylea, and Lucentis for diabetic retinopathy, rising patient awareness, and the presence of state-of-the-art healthcare infrastructure in North America are the primary factors accountable for the regional market growth. The Asia Pacific market is the fastest-growing regional market and is expected to display a robust CAGR of 8.3% over the forecast period.
- Novartis AG, Bayer Healthcare, Regeneron Pharmaceuticals Inc., ThromboGenics, Actavis Plc, Sirnaomics, Genentech, Alimera Sciences, Glycadia Pharmaceuticals, Ampio Pharmaceuticals, Kowa Group, and BCN Peptides are some of the renowned companies operating in the global diabetic retinopathy market.
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For the purpose of this report, the global diabetic retinopathy market is segmented on the basis of type, disease form, management, distribution channel, and region:
Type (Revenue, USD Billion; 2018-2028)
Disease Form (Revenue, USD Billion; 2018-2028)
- Proliferative diabetic retinopathy
- Non-proliferative diabetic retinopathy
Management (Revenue, USD Billion; 2018-2028)
- Intraocular steroid injection
- Laser surgery
Distribution channel (Revenue, USD Billion; 2018-2028)
- Eye clinics
- Retail pharmacies
- Online pharmacies
- Ambulatory surgical centers
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of the Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of the Middle East & Africa
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