Factors contributing to high CAGR are growing prevalence of diabetes along with rising incidence of blindness. Moreover, increase in purchasing power and the dread of losing vision have augmented the expenditure by patients to avail the indispensable treatment, thus fueling the overall growth and stability of the diabetic retinopathy market
Market Size – USD 7.39 billion in 2018, Market Growth – CAGR of 7.3%, Market Trends – Product Launches and Research for Advanced Tech Developments
NEW YORK, June 06, 2019 (GLOBE NEWSWIRE) -- Based on current analysis, the global diabetic retinopathy market was valued at USD 7.39 billion in 2018 and is expected to reach USD 13.04 billion by 2026, at a CAGR of 7.3%. Diabetic retinopathy is a diabetes obstacle that affects eyes. It's caused by damage to the blood vessels of the light-sensitive tissue at the back of the eye (retina). Diabetic retinopathy usually affects both the eyes. As the condition progresses, diabetic retinopathy symptoms typically include; spots or dark strings floating in your vision (floaters)blurred vision, fluctuating vision, impaired color vision, dark or empty areas in your vision and also vision loss. Diabetic retinopathy damages the blood vessels within the retinal tissue, causing them to leak fluid and distort vision. Excess of sugar intake in blood can lead to the blockage of the tiny blood vessels that nourish the retina, cutting off its blood supply. As a result, the eye attempts to grow new blood vessels; nonetheless, these new blood vessels don't mature properly and can leak easily. There are two types of diabetic retinopathy viz, early diabetic retinopathy and advanced diabetic retinopathy.
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The line of treatment for diabetic retinopathy depends exclusively on extremity of the condition and may require intraocular injections, anti-VEGF drugs, laser surgery or vitrectomy. Growing incidence of diabetes, along with rising incidence of blindness because of diabetes, is predicted to drive the market growth during the forecast period. Moreover, increase in purchasing power and the dread of losing vision have augmented the expenditure by patients to avail the indispensable treatment. Availability of advanced technology and minimal pain inducing laser procedure topped with quick recovery is likely to promote patients’ inclination to adopt surgical treatments. North American section accounted for the largest share of 36.8% due to the supportive compensation strategies, and increasing prevalence of diabetes.
Further key findings from the report suggest
- Asia-Pacific regional segment of the diabetic retinopathy market is expected to register itself as highest growing segment during the forecasted period, at a CAGR of 8.3%; owing it to the qualitative as well as quantitative market potential offered in developing nations such as China & India
- Non-proliferative diabetic retinopathy has registered highest CAGR of 7.5% and is successful in dominating the market with market share of 56%. The most common reason for blindness in people suffering from diabetes is non-proliferative
- According to the estimates of the screening conducted by the All India Ophthalmological Society, the prevalence of diabetic retinopathy in the data set collected by them was approximately calculated to 21.7%
- World Health Organization in 2016, estimated that 1.6 million deaths were directly caused by diabetes. WHO estimates that diabetes was the seventh leading cause of deaths
- The Diabetic Retinopathy Clinical Research Network (DRCR.net) conducts large multi-center trials to test new therapies for diabetic eye disease, and to compare different therapies. The network comprises more than 350 physicians practicing at more than 140 clinical sites across the country. They are private practice eye clinics, enabling the network to quickly bring innovative treatments from research into practice
- Approximately 1.5% adults suffering from diabetes were affected from proliferative diabetic retinopathy in the U.S. in the recent past
- The EyeArt Al Eye Screening System makes in-clinic, real-time DR screening possible for any physician which enables quick and accurate identification of patients with referable DR. diabetic retinopathy screening were increased from 0 to 1000 after the implementation of EyeArt Al Eye
- Among the distribution channels, hospitals and pharmacies have accounted for the largest share in the diabetic retinopathy market. Hospitals and pharmacies comprises of well-equipped diagnosis instruments which prove to be lucrative for this segment, thus, there creating a high rate of demand in the market
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Segments covered in the report:
This report about global diabetic retinopathy market forecasts revenue growth at a global, regional and country level also, provides an analysis on the industry trends in each of the sub segments from 2016 to 2026. For the purpose of this study, the market is segmented on the basis of type, management, distribution channel and regions:
Type (Revenue in USD Million; 2016–2026)
- Proliferative diabetic retinopathy
- Non-proliferative diabetic retinopathy
- Mild
- Moderate
- Severe
Management (Revenue in USD Million; 2016–2026)
- Anti-VEGF
- Intraocular steroid injection
- Laser surgery
- Vitrectomy
Distribution channel (Revenue in USD Million; 2016–2026)
- Eye clinics
- Hospital and pharmacies
- Ambulatory surgical centers
- Other
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Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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