Market Synopsis
The diabetic
retinopathy market is projected to expand USD 6650 mn at a CAGR 6.50% during
the forecast period 2022-2030.
The rapid rise of diabetic patients is
estimated to be the most crucial factor driving the global diabetic retinopathy market. The
increasing demand for diagnostic tests for diabetic retinopathy is estimated to
escalate the market growth additionally. Further, the rise in the geriatric
population is projected to play an important role in developing the global
market. The growing favorable reimbursement policies, technical development,
increasing incidence of blindness due to diabetes are anticipated to propel the
market growth during the assessment period. Besides, the rise in disposable
income and the rising concern towards the vision have led to an increase in
expenditure of the individuals to avail of the treatment. Further, the minimal
pain-inducing laser process with fast recovery is estimated to promote the
market further in the coming period.
On the contrary, the development is restricted by the lack of expertise and prolonged approval period required for drugs. However, the emergence of combined therapies, increasing collaboration between the companies, and product launch is estimated to create a conducive environment, thereby creating lucrative opportunities for market growth.
Regional Analysis
Based
on the region, the global digital diabetic retinopathy market is segmented into
North America, Asia-Pacific, Europe, and the Rest of the World (RoW). As per
the analysis, North America is estimated to dominate the global market and is
likely to exercise its force throughout the forecast period. The most
significant factor leading to regional development is the increasing attention
on preventive care for chronic diseases such as diabetes, obesity, and others.
Further, favorable government initiatives, growing awareness among people are
anticipated to develop the regional market additionally. Moreover, the region
has a sufficient budget allotted for research and development, along with the
fast adoption of technology, which is likely to boost the regional growth of
the market.
Europe
is estimated to take the second position owing to the rising cases of diabetes.
Increasing research and development are further estimated to boost the market
further. Also, the increasing technological development in the region is
further expanding the market in the region.
The
APAC region is projected to be the fastest-growing market during the assessment
period. The regional market is majorly driven by the growing geriatric
population, rising chronic patients, and the increasing demand for the cure is
estimated to develop the regional market further. Also, the presence of
emerging economies like India, China, and Japan is likely to make the most
crucial participation in augmenting the regional market. Further, the
developing regions are witnessing a rise in disposable income, leading to the
expansion of the regional market.
The
MEA region is anticipated to acquire the least market share due to the presence
of poor economies. However, increasing health awareness is likely to promote
diabetic retinopathy in the region.
Market Segmentation
The
segment analysis of the global diabetic retinopathy market is done by
treatment, type, and end-user.
The
treatment-based segments of the global diabetic retinopathy market are laser photocoagulation, anti-VEGF drugs, vitreoretinal
surgery, and steroid injection.
The
type-based segments of the global diabetic retinopathy market are non-proliferative and proliferative.
The
end-user-based segments of the global diabetic retinopathy market are ambulatory surgical centers, hospitals, and others.
Key Players
The
global diabetic retinopathy market players are Regeneron
Pharmaceuticals, Inc., F.Hoffmann-La Roche AG,
Alimera Sciences, Aurolab, Allergan PLC, Ampio Pharmaceuticals Inc.,
Abbott Laboratories, and others.
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