The global diabetic retinopathy market was valued at USD 5,934.1 million in 2014 and is anticipated to grow at a CAGR of 6.8% over the forecast period. The increasing prevalence of diabetes coupled with increasing incidences of blindness due to diabetes is anticipated to propel market growth over the forecast period. The diabetic retinopathy industry involves retinal screening and selection of treatment line depending on the severity of the condition. Furthermore, growing global base of geriatric population is expected to enhance the applicability of the market, fueling its growth. According to the Eye Disease Prevalence Research Group, 40.3% patient population in the U.S. suffers from retinopathy. The rising prevalence as stated by the IDF is about 8%, annually estimating over 590 million people to acquire diabetes till 2035, thereby promoting the substantial growth of the diabetic retinopathy market during the forecast period. Economic viability owing to the 11% global healthcare expenditure in preventive measures and treatment of the disease is a major propeller for developing countries to promote the market. However, the growth may be limited due to the disproportion existing between the rate of prevalence of disease and the available skilled ophthalmologists.
Global diabetic retinopathy market, by type, 2012 - 2022 (USD Million)
According to the Department of Assistive and Rehabilitative Services (DARS), Texas, over 78% cases of the disease were reported in 2013 that could eventually lead to loss of vision. The diabetic organization of the UK in its 2010 key statistics report, estimated that annual increase in the number of cases of blindness due to diabetes in England is over 30.5%. The American Foundation for the Blind (AFB) in its 2009 report estimated more than 20% cases of blindness in people aged more than 45.
Key segments of the diabetic retinopathy market include proliferative and non-proliferative DR. The non-proliferative segment (NPDR) held the largest share in 2014 owing to, the presence of a large number of patients within the bracket of less than 10 years of disease history. Increasing prevalence of diabetes, lack of accurate diagnosis, and non-compliant retinal screening in patients are anticipated to drive the growth of the NPDR market. Furthermore, increasing use of drugs to cure moderate proliferation with no additional complication has contributed to the revenue. Proliferative DR is expected to witness lucrative growth over the forecast period. This growth is anticipated due to rising geriatric population approaching towards the proliferative stage of retinopathy.
Anti-VEGF treatment, intraocular steroid injection, laser surgery and vitrectomy are the different treatment types encompassed in the diabetic retinopathy market. The anti-VEGF segment is anticipated to account for the highest share over the forecast period owing to, associated features such as better treatment and faster recovery. Anticipated rise in the number of cases of proliferative disease during the forecast period is expected to sustain the market share of the segment. Introduction of new molecules over the forecast period is also anticipated to fuel the market growth.
The North American diabetic retinopathy market owing to, the rising prevalence of diabetes, supportive reimbursement facilities and growing demand for early detection held the largest share in 2014. High market penetration of products such as anti-VEGF drugs including Lucentis, Avastin, and Eylea is one of the major factors contributing to its large share. The European diabetic retinopathy market was the next most revenue generating segment in 2014, driven by growing patient awareness levels, especially in the Western European countries. The emerging nations of Asia Pacific such as China and India are expected to witness substantial growth during the forecast period owing to rising geriatric population base, increasing disposable income, innovation in diagnostics, rising research funding for diabetes and a large pool of patients.
The global diabetic retinopathy market share is highly competitive and consolidated in nature marked by the presence of large number of players. Market players are involved in adhering to new strategies such as mergers and acquisition, regional expansion and new product development in an attempt to develop business and ensure sustainability. The key players of this market are Bayer Healthcare, Novartis AG, Regeneron Pharmaceuticals Inc., Actavis Plc, ThromboGenics, Sirnaomics, Genentech, Glycadia Pharmaceuticals, Alimera Sciences, Ampio Pharmaceuticals, BCN Peptides and Kowa Group.
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