The global diabetes associated ophthalmic treatment market size is expected to hit around US$ 50.7 billion by 2030, according to a new report by Vision Research Reports.
The global diabetes associated ophthalmic treatment market size is expected to hit around US$ 50.7 billion by 2030, according to a new report by Vision Research Reports.
The global diabetes associated ophthalmic treatment market size was valued at US$ 28.2 billion in 2021 and is anticipated to grow at a CAGR of 7.5% during forecast period 2021 to 2030.
Report Highlights
- The drugs segment dominated the market for diabetes associated ophthalmic and accounted for the largest revenue share of 58.8% in 2021.
- The devices segment is growing at a rapid pace accounted for a CAGR of 6.6% during the forecast period.
- The hospital segment dominated the market for diabetes associated ophthalmic and accounted for the largest revenue share of 39.6% in 2021.
- The diabetic retinopathy segment dominated the market for diabetes associated ophthalmic and accounted for the largest revenue share of around 26.7% in 2021.
- North America dominated the diabetes associated ophthalmic treatment market and held the largest revenue share of 37.8% in 2021.
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Growth Factors
The increasing prevalence of type II diabetes, geriatric population, and availability of early detection techniques are some of the factors driving the growth. This is coupled with technological advancements and increasing awareness of early diagnostics to help increase the success rate of the available treatment options. An increasing number of clinical trials to assess new drugs and devices for the prevention and management of these ophthalmic conditions are expected to fuel market growth in upcoming years.
An increasing number of initiatives being undertaken by governments and nonprofit organizations to increase diabetes associated ophthalmic disease awareness is expected to boost the adoption of devices used for the treatment. Furthermore, WHO and IDF are working together to prevent and control diabetes and ensure good quality of life for people worldwide by providing accessible treatment facilities.
Market Dynamics
The growing prevalence of diabetes across the world is a primary factor for diabetes-associated ophthalmic treatment market growth. A rise in the geriatric population and growing incidences of blindness are other diabetes associated ophthalmic treatment market trends. The elderly population is among the worst hit with diabetic eye-related disorders. According to the World Population Ageing Report, the elderly population is projected to reach around 1.5 billion in 2050. Vision loss in the elderly is a common scenario owing to age-related macular degeneration, diabetic retinopathy, glaucoma, and cataract. There is an increasing awareness among the population regarding ophthalmic treatment and the benefits of early adoption of diabetic retinopathy. Thus increasing awareness will lead to early diagnosis of ophthalmic treatment ultimately contributing to higher demand.
Additionally, the growing demand for ophthalmic drugs related to diabetes will boost the demand during the forecast timeframe of 2022 to 2030. However, a limited number of skilled ophthalmologists and an extended approval time for ophthalmic drugs are the factors that might restrain the market from growing. Furthermore, support from several government organizations for diabetic treatments and heavy investments from private and public players further drives the demand for global diabetes associated ophthalmic treatment market during the review period from 2022 to 2030.
Report Coverage
| Report Scope | Details |
| Market Size | US$ 50.7 Bn by 2030 |
| Growth Rate | CAGR of 7.5% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Type, application; end-use |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Alcon; Johnson & Johnson Services, Inc.; Bausch Health; Allergan; Bayer AG; Santen Pharmaceutical Co. Ltd.; Novartis AG; Pfizer, Inc.; Genentech, Inc.; Carl Zeiss Meditec; Lumenis; Ellex Medical Lasers Ltd.; IRIDEX Corporation; Topcon Corporation; Abbott Medical Optics; Quantel |
By Type Analysis
The drugs segment dominated the market for diabetes associated ophthalmic and accounted for the largest revenue share of 58.8% in 2021. The drug segment comprises anti-glaucoma drugs, anti-inflammatory drugs, anti-VEGF drugs, anti-allergy drugs, and others.
The devices segment is growing at a rapid pace accounted for a CAGR of 6.6% during the forecast period. The devices segment comprises refractive error surgical devices, glaucoma surgical devices, cataract surgical devices, vitreoretinal surgical devices, diagnostic devices, and visual aid devices.
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By End-use Analysis
The hospital segment dominated the market for diabetes associated ophthalmic and accounted for the largest revenue share of 39.6% in 2021. An increasing number of hospital admissions of diabetes patients are boosting the demand for the segment,
By Application Analysis
The diabetic retinopathy segment dominated the market for diabetes associated ophthalmic and accounted for the largest revenue share of around 26.7% in 2021. Diabetic retinopathy is considered a critical medical condition that impacts the eyes of the patient leading to vision loss.
increasing clinical trials for the approval of drugs used for the treatment of diabetic retinopathy is expected to boost the growth of the market for diabetes associated ophthalmic.
By Regional Analysis
North America dominated the diabetes associated ophthalmic treatment market and held the largest revenue share of 37.8% in 2021. The growth in the region is mainly attributed to factors such as robust healthcare infrastructure,
In Asia Pacific, the market for diabetes associated ophthalmic is expected to witness the fastest growth rate during the forecast period. The growing ophthalmic disorders burden and rising consumer awareness are expected to drive the market for diabetes associated ophthalmic in the region.
Key Players
- Alcon
- Johnson & Johnson Services, Inc.
- Bausch Health
- F. Hoffmann-La Roche Ltd
- Allergan
- Bayer AG
- Santen Pharmaceutical Co. Ltd.
- Novartis AG
- Pfizer, Inc.
- Genentech, Inc.
- Carl Zeiss Meditec
- Lumenis
- Ellex Medical Lasers Ltd.
- IRIDEX Corp.
- Topcon Corp.
- Abbott Medical Optics
- Quantel
Market Segmentation
- By Application
- Dry Eye Syndrome
- Glaucoma
- Eye Allergy & Infection
- Diabetic Retinopathy
- Diabetic associated Macular Degeneration
- Uveitis
- Cataract
- Diabetic Macular Edema
- Others
- By Type
- Drugs
- Devices
- By End-use
- Hospitals
- Ophthalmic Centers
- Ambulatory Surgical Centers
- Others
- Regional
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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