Summary: Global Diabetic Retinopathy Market is poised to reach $8.52 billion by 2021 – 178 pages report by Market Data Forecast
The Global Diabetic Retinopathy Market has been estimated at USD 6.1 billion in 2016 and is projected to reach USD 8.52 billion by 2021, at a CAGR of 6.9% during the forecast period from 2016 to 2021. Diabetes is a long-lasting disorder associated with defects in the secretion of insulin from the pancreas or hyperglycaemia associated to insulin resistance which eventually leads to long term multi-organ complications of nerves, eye, blood vessels, kidneys, and heart.
The most common and severe sight threatening complication of diabetes is Diabetic Retinopathy (DR) which leads to damaging of the blood vessels present in the retina of the eye. The treatment procedure of diabetic retinopathy depends on the various stages of diabetic retinopathy. It is one of the most dominant reasons of blindness in adults globally.
The growing incidence of diabetes coupled with increasing prevalence of blindness due to diabetes is expected to drive market growth over the forecast period. Increasing global geriatric population prevalence and strong awareness for early detection of diabetic retinopathy will be essential factors for driving global diabetic retinopathy market demand. However, dearth of skilled ophthalmologist combined with poor primary infrastructure is expected to restrain the market growth.
The global Diabetic Retinopathy Market has been segmented on the basis of indication into Non-Proliferative Diabetic Retinopathy (NPDR) and Proliferative Diabetic Retinopathy (PDR). NPDR is further sub segmented as Mild, Moderate and Severe. Based on Treatment type the market is bifurcated into Anti-Vascular Endothelial Growth Factor (VEGF) drug, Intraocular Steroid Injection, Laser Surgery and Vitrectomy. By end users division is among Hospitals, Ophthalmic Clinics and Ambulatory Surgical Centers. Non-proliferative retinopathy dominated the overall market size estimated to lead the market. Augmented incidence of diabetes, lack of diagnosis at right time, and non-compliant retinal screening of diabetic patients are expected to boost the growth of non-proliferative diabetic retinopathy market share.
Based on geography, the market has been segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East and Africa. North America dominated the market followed by Asia-Pacific and Europe. The factors attributable for North America are having high obesity rates while Europe has large population of baby boomers. The emerging nations of Asia Pacific such as China and India are anticipated to witness significant growth during the forecast period owing to expanding geriatric population base, increasing disposable income, innovation in diagnostics, rising research funding for diabetes and a large pool of patients.
The Major companies in Diabetic Retinopathy treatment market are Bayer AG, Pfizer Inc., Hoffmann-La Roche ltd, Regeneron Pharmaceutical Inc., Novartis AG, Valeant Pharmaceutical International Inc., Abbott Laboratories Inc., Alimera Science Inc. and Ampio Pharmaceuticals Inc.
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