Diabetic Retinopathy Market: Top 4 trends driving the industry growth through 2025

The diabetic retinopathy market will witness significant expansion through the next few years with the prevalence of diabetic conditions across developing countries.

The diabetic retinopathy market will witness significant expansion through the next few years with the prevalence of diabetic conditions across developing countries. Diabetes can be touted as a medical disorder that involves associated complications, with diabetic retinopathy among the most frequent in comparison to others.

As per the International Diabetes Federation, there were over 463 million individuals diagnosed with diabetes in 2019. Statistics also reveal that more than 80% of the diabetic population post 20 years of diagnosis are prone to diabetic retinopathy.

Estimates reveal that the diabetic retinopathy market size will record over USD 12 billion with regard to annual revenue by 2025.

Wide scope of proliferative diabetic retinopathy

Annual revenue from the proliferative diabetic retinopathy market is likely to reach a CAGR of 7.5% through the coming years. Proliferative diabetic retinopathy (PDR) is a chronic diabetic condition in its most advanced phase that affects the eyes of the infected individuals and pushes the need for surgical procedures to improve vision. An analysis by Apollo Hospitals suggested that people over 60 years of age show a higher tendency of acquiring this disease.

Diabetic retinopathy symptoms in the 40-49 age group individuals contributed to more than USD 3 billion in 2018 considering the rise in diabetic instances in this population. Individuals whose age varies between 40 to 49 years mainly comprise of working professionals who are prone to diabetes owing to their unhealthy lifestyle patterns like lack of exercise and consumption of junk food. Reportedly, diabetic patients show a 30% probability of developing diabetic retinopathy.

Demand for laser retinopathy surgeries

Diabetic retinopathy market share from laser surgeries is likely to strike a growth rate of 9.2% through 2025 as these surgeries are less invasive and painful as well as ensure a faster recovery over other procedures. Laser surgeries render minimum post-surgical complications and witness high demand from geriatric individuals due to their preference for minimally invasive surgeries.

Demand for performing diabetic retinopathy treatments on an outpatient basis across ambulatory surgical centers (ASCs) crossed more than USD 2 billion in global remuneration in 2018. This can be owed to lower costs of outpatient surgical procedures and their relatively shorter recovery duration. Another impact rendering factor is the reimbursement provided by these facilities for the procedures, fostering their penetration across the price-sensitive population in developing countries.

North America as a promising market

North America is home to an expanding geriatric population base affected by chronic diseases like diabetes and the regional industry was responsible for close to USD 3 billion in revenues for diabetic retinopathy market in 2018. The growth can be attributed to the strong possibility of this patient pool to acquire diabetic retinopathy resulting in higher consumption of advanced medication across this region.

Besides, there is an awareness pertaining to the availability and ease of access to minimally invasive ophthalmic surgeries, driving the regional need for early retinopathy diagnosis.

To access sample pages of this report titled, “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, Application Potential, Competitive Market Share & Forecast, 2019 - 2025” in detail along with the table of contents, please click on the link below:

https://www.gminsights.com/request-sample/detail/486

Growth from regulatory policies and strategies

Service providers in diabetic retinopathy are focusing on R&D activities, mergers, and acquisitions to increase their global presence during and post the COVID-19 pandemic. Approvals for novel product launches rendered by regulatory bodies like the FDA are assisting these firms to garner significant profits. For instance, Allergan and Bayer AG was certified for Ozurdex in the European Union for its treatment towards Diabetic Macular Edema in September 2014.

Also, in May 2019, Regeneron Pharmaceuticals, a major pharma company, received approval from the FDA for its Eylea injection that tends to consumers affected by diabetic retinopathy in all its stages to reduce the chances of blindness. Some of the other global brands can be identified as BCN Peptides, Kowa Company, ThromboGenics, Novartis, Alimera Sciences, Ampio Pharmaceuticals, and Allergan.

Implementation of ophthalmic surgeries and innovations in existing medications will boost the demand for diabetic retinopathy treatment procedures. Extensive use of intravitreal antiangiogenetic, anti-inflammatory agents, and incorporation of novel direct injections in surgeries has helped to retain vision in the affected individuals.

However, post-surgical complications from some surgical procedures during the treatment of diabetic retinopathy may negatively influence the diabetic retinopathy market outlook to some extent.

About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Website: https://www.gminsights.com