Diabetic Retinopathy Market Driven by Growing Prevalence of Diabetes
Growing Prevalence of Diabetes to Drive Diabetic Retinopathy Market
The global diabetic retinopathy market is expected to exhibit a strong 11.9% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The global diabetic retinopathy market was valued at USD 1.3 trillion in 2018.
Diabetic retinopathy is diabetes-associated damage caused to the eyes. Diabetes can have an adverse impact on eye health, as high sugar volume in the blood can result in damage to the blood vessels, especially weaker and thinner blood vessels. As the blood vessels in the eyes are usually thin and thus weak, diabetes can heavily affect these blood vessels and cause them to be blocked or ruptured. This causes a variety of conditions known by the umbrella term of diabetic retinopathy. This can also result in the growth of new, abnormal blood vessels on the retina, leading to further complications. The symptoms of diabetic retinopathy include vision loss, impaired color vision, blurred vision, floaters, or dark or empty areas in the vision. Complications associated with diabetic retinopathy include blindness, glaucoma, retinal detachment, and vitreous hemorrhage. The high severity of these complications has resulted in diabetic retinopathy being taken seriously by patients suffering from or at risk of contracting diabetes.
The growing prevalence of diabetes is likely to be a major driver for the global diabetic retinopathy market over the forecast period. Due to the increasing prevalence of a sedentary lifestyle and the increasing consumption of fast food and junk food, the prevalence of diabetes has grown rapidly in the last few decades. Developing regions such as Asia Pacific have become a major center for the growth in prevalence of diabetes, with increasing numbers of patients being found in APAC nations such as China, Thailand, and India. This is likely to remain a major driver for the global diabetic retinopathy market over the forecast period. The increasing geriatric population around the world is also likely to be a major driver for the global diabetic retinopathy market over the forecast period, as geriatrics suffer from weak musculature, including the muscles and tissues around the eyes.
Leading players in the global diabetic retinopathy market include Abbott Laboratories, Allergan plc, Aurolab, Ampio Pharmaceuticals Inc., Alimera Sciences, Regeneron Pharmaceuticals Inc., and F. Hoffman-La Roche AG. Strategic acquisitions and collaborations are likely to remain promising avenues for players in the global diabetic retinopathy market over the forecast period. Product launches and capacity expansion are also major avenues for players in the global diabetic retinopathy market.
The global diabetic retinopathy market is segmented on the basis of type, treatment, end user, and region.
By type, the global diabetic retinopathy market is segmented into non-proliferative and proliferative. Non-proliferative diabetic retinopathy holds a dominant share in the global diabetic retinopathy market and is likely to remain in the lead over the forecast period. Proliferative diabetic retinopathy is usually the terminal version of diabetic retinopathy.
By treatment, the global diabetic retinopathy market is segmented into anti-VEGF drugs, laser photocoagulation, vitroretinal surgery, Anti-VEGF drugs are likely to remain one of the dominant segments of the global diabetic retinopathy market over the forecast period. Vitreoretinal surgery is also likely to increase in demand over the forecast period.
By end user, the global diabetic retinopathy market is segmented into hospitals, ambulatory surgical centers, and others. The hospitals segment holds the dominant share in the global diabetic retinopathy market.
The Americas hold the dominant share in the global diabetic retinopathy market and are likely to remain the leading segment over the forecast period. The growing prevalence of diabetes in North America is the major driver for the Americas market for diabetic retinopathy. Increasing awareness about diabetic retinopathy in the region is also another major driver for the global diabetic retinopathy market.
Europe holds the second largest share in the global diabetic retinopathy market, followed by Asia Pacific. Asia Pacific is likely to exhibit the fastest growth over the forecast period.
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