The global diabetic retinopathy market size is expected to reach USD 13.8 billion by 2030 registering a CAGR of 6.4%, according to a new report by Grand View Research, Inc. The incidence rate of diabetes has been increasing dramatically. According to the International Diabetes Federation, in 2021 there were about 537 million diabetic cases, which is projected to rise to 643 million by 2030 and 783 million by 2045. Diabetes is among the leading cause of blindness in people. Blindness is caused due to leaking or rupturing of retinal blood vessels, which may be permanent or temporary in nature depending on the disease stage. Studies suggest that in 2020 the number of diabetic retinopathy cases were about 103.12 million; the cases are expected to reach 160.5 million by 2045.
Diabetic Retinopathy Market Report Highlights
- The non-proliferative diabetic retinopathy segment accounted for the largest revenue share, by type, in 2021. The presence of a large number of patients within the bracket of fewer than 10 years of diabetic history contributed to the large size of this segment
- The anti-VEGF segment accounted for the largest revenue share, by management, in 2021. The high applicability of these drugs in the treatment and early diagnosis of mild to moderate cases of non-proliferative DR treatment is among the prime factors leading to segmental growth
- In Asia Pacific, the market is expected to witness the highest CAGR over the forecast period. The large population base in this region, high prevalence of diabetes, and rising geriatric population are likely to bolster the market
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Rising patient awareness levels and increasing healthcare expenditure are also among the factors which are likely to propel market growth. Moreover, the increasing geriatric population in both developed and developing nations is expected to propel the market over the forecast period. According to the Population Reference Bureau report titled “Aging in the United States”, the number of people in the U.S. aged 65 years and over was projected to increase from around 46 million in 2016 to over 98 million by 2060. Early detection and treatment guidelines for diabetic retinopathy had significantly reduced due to the COVID-19 pandemic-related constraints. When compared to 2019, intravitreal injections for diabetic retinopathy had decreased significantly globally throughout the pandemic, ranging from around 30 to over 100 percent reduction. However, now that the lockdown restrictions have been removed, the market is expected to grow at a significant rate.
Diabetic Retinopathy Market Share By Demographics
North America dominated the market and accounted for the largest revenue share of 37.9%. The presence of sophisticated healthcare infrastructure, favorable government initiatives pertaining to drug development, and the presence of high patient and practitioner awareness levels are some of the drivers of this market. In Asia Pacific, the market is expected to witness a lucrative CAGR of 7.1% from 2022 to 2030 due to the presence of high unmet medical needs, coupled with rapidly rising patient awareness regarding effective diagnostic procedures for diabetes and rising healthcare expenditures in the emerging economies of India and China. Latin America and Middle East regions are also anticipated to witness lucrative growth over the forecast period.
Competitive Analysis By Key Companies
Major players are focusing on collaborations, partnerships, mergers, and other strategic activities to improve their market position. Market leaders face increased competition from new drug launches and new management treatment approval from regulatory bodies, making it difficult for them to sustain themselves in the ever-changing market. However, heavy investments in R&D conducted by market leaders are said to boost the market growth. Some of the prominent players in the diabetic retinopathy market include:
- Bayer AG
- Allergan plc
- Novartis AG
- Oxurion NV
- Sirnaomics Inc.
- Genentech
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Diabetic Retinopathy Market Segmentation
Grand View Research has segmented the global diabetic retinopathy market based on type, management, and region:
- Diabetic Retinopathy Type Outlook (Revenue, USD Million, 2018 – 2030)
- Diabetic Retinopathy Management Outlook (Revenue, USD Million, 2018 – 2030)
- Diabetic Retinopathy Regional Outlook (Revenue, USD Million, 2018 – 2030)
- List of Key Players of Diabetic Retinopathy Market
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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