Diabetic Retinopathy Market to Witness Robust Growth Over 2021-2025
Category: #healthcare  By Ronak Bora  Date: 2021-03-20
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Diabetic Retinopathy Market to Witness Robust Growth Over 2021-2025

The diabetic retinopathy market is poised for robust growth on the back of increasing prevalence of diabetes across the world. Diabetic retinopathy is a complication associated with diabetes that affects the vision of the eyes. In recent years, there has been a major increase in diabetic patients due to various reasons like sedentary lifestyle, impaired glucose tolerance, high blood pressure, and many others. In fact, as per the WHO (World Health Organization) estimates, the number of people with diabetes increase from 108 million in1980 to around 422 million in 2014.

As per the International Diabetes Federation, there were over 463 million individuals diagnosed with diabetes in 2019. Statistics also reveal that more than 80% of the diabetic population post 20 years of diagnosis are prone to diabetic retinopathy.

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Annual revenue from the proliferative diabetic retinopathy market is likely to reach a CAGR of 7.5% through the coming years. Proliferative diabetic retinopathy (PDR) is a chronic diabetic condition in its most advanced phase that affects the eyes of the infected individuals and pushes the need for surgical procedures to improve vision. An analysis by Apollo Hospitals suggested that people over 60 years of age show a higher tendency of acquiring this disease.

These people are prone to several diabetic complications such as blindness, kidney failure, stroke, heart attacks, and lower limb amputation, primarily due to the late diagnosis. This has led to an increase in the demand for diabetic management treatments across the globe, predominantly creating lucrative growth opportunities for the diabetic retinopathy market growth over the forecast period.

North America diabetic retinopathy market is expected to prominent growth over the forecast period. In fact, the regional market valued at USD 3 billion in 2018. This growth can be attributed to the increasing prevalence of chronic disorders including diabetes in the region. As per the CDC (Disease Control and Prevention) estimates, over 100 million U.S. adults were living with diabetes or prediabetes phase in 2017.

Service providers in diabetic retinopathy are focusing on R&D activities, mergers, and acquisitions to increase their global presence during and post the COVID-19 pandemic. Approvals for novel product launches rendered by regulatory bodies like the FDA are assisting these firms to garner significant profits. For instance, Allergan and Bayer AG was certified for Ozurdex in the European Union for its treatment towards Diabetic Macular Edema in September 2014.

Also, in May 2019, Regeneron Pharmaceuticals, a major pharma company, received approval from the FDA for its Eylea injection that tends to consumers affected by diabetic retinopathy in all its stages to reduce the chances of blindness. Some of the other global brands can be identified as BCN Peptides, Kowa Company, ThromboGenics, Novartis, Alimera Sciences, Ampio Pharmaceuticals, and Allergan.

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Partial Chapter of the Table of Content

Chapter 4. Diabetic Retinopathy Market, By Type

4.1. Key segment trends

4.2. Proliferative diabetic retinopathy

4.2.1. Market size, by region, 2014-2025 (USD Million)

4.3. Non-proliferative retinopathy

4.3.1. Market size, by region, 2014-2025 (USD Million)

Chapter 5. Diabetic Retinopathy Market, By Age Group

5.1. Key segment trends

5.2. 40-49

5.2.1. Market size, by region, 2014-2025 (USD Million)

5.3. 50-64

5.3.1. Market size, by region, 2014-2025 (USD Million)

5.4. 65-74

5.4.1. Market size, by region, 2014-2025 (USD Million)

5.5. Others

5.5.1. Market size, by region, 2014-2025 (USD Million)

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About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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