The global diabetic retinopathy market is anticipated to reach USD 10.08 billion by 2025, according to a new report by Grand View Research, Inc. Rising prevalence of diabetes, growing geriatric population, and increasing prevalence of blindness due to diabetes are among the key factors anticipated to bolster market growth over the forecast period.
Diabetes is amongst 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. According to the Department of Assistive and Rehabilitative Services (DARS), Texas, around 78.0% cases of diabetic retinopathy were reported in 2013 that may eventually lead to loss of vision. In addition, as per the Royal National Institute of Blind People (RNIB), diabetic retinopathy was amongst the leading causes of blindness in UK in 2017. 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 diabetic retinopathy 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 were projected to increase from around 46 million in 2016 to over 98 million by 2060.
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Further Key Findings From the Study Suggest:
Non-proliferative diabetic retinopathy accounted for the largest share, by type, in 2016. Presence of large number of patients within the bracket of less than 10 years of diabetic history contributed to the large size of this segment.
Anti-VEGF segment accounted for the largest share, by management, in 2016. High applicability of these drugs in treatment of early diagnosis and mild to moderate cases of non-proliferative DR treatment is among the prime factors leading to segmental growth.
Asia Pacific market is expected to grow with the highest CAGR over the forecast period. Large population base in this region, high prevalence of diabetes, and rising geriatric population are likely to bolster the market.
Major players of the market include Bayer Healthcare, Novartis AG, Regeneron Pharmaceuticals Inc., Allergan plc, ThromboGenics NV, Sirnaomics, Inc., Genentech, Glycadia Pharmaceuticals, Alimera Sciences, and Ampio Pharmaceuticals, BCN Peptides, and Kowa Group.
Grand View Research has segmented the global diabetic retinopathy market report on the basis of type, management, and region:
Diabetic Retinopathy Type Outlook (Revenue, USD Million, 2014 - 2025)
Proliferative diabetic retinopathy
Non-proliferative diabetic retinopathy
Diabetic Retinopathy Management Outlook (Revenue, USD Million, 2014 - 2025)
Intraocular steroid injection
Diabetic Retinopathy Regional Outlook (Revenue, USD Million, 2014 - 2025)
Middle East and Africa (MEA)
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