Diabetic Retinopathy Market is Projected To be Around $2.6 Billion By 2025
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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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Key Findings of the Research Study:
- Laser surgery segment occupied more than two-fifth of the global market in 2016, due to high adoption of this technique for the treatment of diabetic retinopathy.
- Proliferative retinopathy occupied largest share of the global diabetic retinopathy market in 2016, due to rising geriatric population rapidly moving towards proliferative stage of retinopathy.
- U.S. dominated the NorthAmerica market in 2016, due to high market penetration of drugs such as Avastinand Eylea.
- Europe occupiedthe second largest share of the global market in 2016. This can be attributed to rise in diabetic population, high adoption of technologically advanced products, and rise in demand for early screening techniques.
- Asia-Pacific is expected to witness high growth rate during the forecast period due to large diabetic population base and increasing awareness about diabetes and availability of treatment options.
About Crystal Market Research
Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
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