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.
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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.
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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.
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