A research study titled, “Diabetic Retinopathy Market by Type, Treatment, and End User - Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the diabetic retinopathy market is projected to be around $2.6 billion by 2025.
Diabetic retinopathy (DR) is a condition that occurs in individuals suffering from diabetes. It is a severe sight-threatening problem of diabetes which progressively damages the light-sensitive lining at the back of the eye i.e. retina. This condition occurs when blood vessels leak blood. Therefore, the retinal tissue swells leading to blurred vision. If DR is not treated on time, it can cause blindness. According to a study conducted by American Diabetes Association, 415 million people worldwide suffered from diabetes and diabetes related complications as of 2015, and this number is expected to reach 642 million by 2040. Prevalence of diabetes retinopathy is higher in people suffering from type-1 diabetes for prolonged period. Such high incidence of diabetic retinopathy can be attributed to rise in chronic conditions such as hyperglycemia, rise in obesity rate, rise in hypertension, and genetic factors of individuals.
Diabetic macular edema market is expected to witness high growth during forecast period. This can be attributed to number of factors such as rise in prevalence of diabetic retinopathy, growing aging population and the changing lifestyle. Anti-VEGF treatment segment accounted for the largest share due to more usage of these medicines for quicker recovery of patients. However, laser surgery segment is expected to witness high growth rate during the forecast period.
North America dominated the global diabetic retinopathy market in 2016. This can be attributed to number of factors such as increasing prevalence of diabetes, high adoption of advanced products, and favorable reimbursement policies.Asia-Pacific is expected to witness high growth rate, due to high patient population, increasing healthcare spending,and increased focus of international players on emerging markets owing to growing preference for advanced healthcare facilities and rising disposable income of people.
Diabetic retinopathy market is highly competitive in nature with the presence of large number of players such as Bayer AG, F. Hoffmann-La Roche, Allergan plc, Alimera Sciences, Novartis International AG, Pfizer, Regeneron Pharmaceuticals Inc., Ampio Pharmaceuticals., Abbott Laboratories, and Valeant Pharmaceutical.
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The global diabetic retinopathy market is projected to be around $2.6 billion by 2027. This growth can be attributed to increase in prevalence of diabetes, increase in demand for early screening techniques and increase awareness about disease and available treatments among patients. Increasing incidence of diabetes caused blindness will further enhance the growth of market during forecast period.