The global Diabetic Retinopathy Market size is likely to reach USD 10.08 billion by 2025. Diabetes is a chronic disorder related with defects in the secretion of insulin from the hyperglycemia or pancreas associated to insulin resistance which eventually leads to long term multi-organ problems of kidneys, eye, blood vessels, nerves and heart.
Factors, such as increasing aged population, up-gradation of healthcare infrastructure, rising demand for initial detection systems, technological advancements, uncontrolled glucose levels and ignorance towards treatment, and increasing research activities towards developing advanced products are likely to drive the diabetic retinopathy industry in the forthcoming period.
Request Sample Copy of This Market Research @
On the other hand, lack of skilled professionals, presence of low-income groups, high cost associated with the treatment and poor availability to healthcare services are anticipated to hinder diabetic retinopathy market growth in future. However, prolonged undiagnosed diabetes is likely to create lucrative opportunities for the market. Diabetic retinopathy industry is anticipated to expand at a CAGR of 6.3% in the upcoming period as the scope, product types and its applications are increasing across the globe.
Diabetic retinopathy market is segmented by type, treatment type, indications, end user and geography. The market is segmented by type as Proliferative Diabetic Retinopathy and Non-proliferative diabetic retinopathy. The “Non-proliferative diabetic retinopathy” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come. The key factors that could be attributed to the growth of market includes presence of huge number of patients (less than 10 years of diabetic history) and increased occurrence of diabetes.
Browse Full Research Report @
Based on treatment type, the diabetic retinopathy industry is segmented by Vitrectomy, Steroid Implants, Anti VEGF Drug and Laser Surgeries. The “Anti VEGF Drug” segment accounted for a prominent share in the market. It is likely to witness a substantial growth in the years to come. The key factors that is could be attributed to the growth of market include mild to moderate cases of non-proliferative DR treatment, and better treatment and high applicability and faster recovery of these drugs in treatment of initial diagnosis.
The diabetic retinopathy market is segmented based on the end user as Ambulatory Surgical Centers, Hospitals and Ophthalmic Clinics. Based on indications, the market of diabetic retinopathy is segmented as Proliferative Diabetic Retinopathy (PDR) and Non-Proliferative Diabetic Retinopathy (NPDR) (Severe, Moderate and Mild).
North America is a leading region in the market. It is likely to maintain a dominance in the forecast period owing to factors, such as a large number of aged populations, increase in occurrence of diabetic retinopathy patients in the region, increasing healthcare infrastructure and rising health awareness among population. In addition, North America is followed by Asia-Pacific region owing to changing lifestyle of people in the region, surge in diabetic population, increase in funding and support provided by the government.
Key players operating in the diabetic retinopathy industry include Alimera Science, Abbott Laboratories, Allergan plc, Bayer AG, Ampio Pharmaceuticals., Novartis International AG, F. Hoffmann-La Roche, Pfizer, Valeant Pharmaceutical, Regeneron Pharmaceuticals Inc., KOWA Company, Ltd., Boehringer Ingelheim GmbH, ThromboGenics NV., and BCN Peptides S.A. The leading companies are involved in partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.