New York, United States , Sept. 01, 2024 (GLOBE NEWSWIRE) -- The Global Diabetes Associated Ophthalmic Treatment Market Size Expected to Grow from USD 29.75 Billion in 2023 to USD 56.43 Billion by 2033, at a CAGR of 6.61%during the forecast period 2023-2033.
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Global diabetes-associated ophthalmic treatments constitute medications and procedures to cure diabetes-related eye diseases like cataracts, diabetic retinopathy, macular edema, chalazion, and conjunctivitis. The treatments and methodologies associated with these medical conditions are cataract surgery, eye surgery, anti-VEGF (vascular endothelial growth factors) injections, steroidal eye implants, and laser surgery. These treatments help to prevent eye blindness and improve vision. Some of the elements propelling the rise of diabetes associated ophthalmic treatment market are the growing elderly population, a rising incidence of type II diabetes, and the accessibility of early diagnostic treatments. However, diabetic treatments and procedures come with their side effects and complications like blurred vision, heightened light sensitivity, and increased aching rendering routine tasks displeasing.
Browse key industry insights spread across 273 pages with 105 Market data tables and figures & charts from the report on the "Global Diabetes Associated Ophthalmic Treatment Market Size, Share, and COVID-19 Impact Analysis, By Type (Devices, Drugs), By Application (Glaucoma, Diabetic Retinopathy, Eye Allergy & Infection, Dry Eye Syndrome, Diabetic Associated Macular Degeneration, Cataract, Uveitis), By End-Use (Ambulatory Surgical Centers, Hospitals, And Ophthalmic Centers), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The drug segment is expected to hold the largest share of the global diabetes associated ophthalmic treatment market during the projected timeframe.
Based on the type, the global diabetes associated ophthalmic treatment market is categorized into devices and drugs. Among these, the drugs segment is expected to hold the largest share of the global diabetes associated ophthalmic treatment market during the projected timeframe. Various types of effective medical entities available with less side effects associated and the increased research and development activities carried out to find the more potent novel drugs will lead to the growth for the increased use of drugs in the market.
The diabetic retinopathy segment is expected to grow at the fastest pace during the projected timeframe.
Based on the application, the global diabetes associated ophthalmic treatment market is categorized into glaucoma, diabetic retinopathy, eye allergy & infection, dry eye syndrome, diabetic associated macular degeneration, cataract, and uveitis. Among these, the diabetic retinopathy segment is expected to grow at the fastest pace during the projected timeframe. This is exhibited by the large number of populations suffering from diabetic eye condition and also the rising clinical trials for the new potent medical entities.
The hospitals segment is expected to grow at the fastest pace during the projected timeframe.
Based on the end-use, the global diabetes associated ophthalmic treatment market is categorized into ambulatory surgical centers, hospitals, and ophthalmic centers. Among these, the hospitals segment is expected to grow at the fastest pace during the projected timeframe. The segment's rise is attributed to hospital’s substantial healthcare facilities and high treatment ratios for patients with diabetes.
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North America is projected to hold the largest share of the global diabetes associated ophthalmic treatment market over the projected timeframe.
North America is projected to hold the largest share of the global diabetes associated ophthalmic treatment market over the projected timeframe. The region is known for having a strong healthcare system, making large investments in cutting-edge treatments and technology, and observing a rise in the number of people with diabetes-related illnesses.
Asia Pacific is expected to grow at the fastest CAGR growth of the global diabetes associated ophthalmic treatment market during the projected timeframe. The rise of the aging population in many Asia-Pacific nations and the rise of diabetes-related problems are factors contributing to the rise of the market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Diabetes Associated Ophthalmic Treatment Market are F. Hoffmann-La Roche Ltd, Johnson & Johnson Services, Inc., AbbVie Inc, Novartis AG, Quantel, Pfizer, Inc., Ellex Medical Lasers Ltd., Bausch Health Companies Inc., Carl Zeiss Meditec, Abbott Medical Optics, Santen Pharmaceutical Co. Ltd., Genentech, Inc., Bayer AG, Alcon, Topcon Corp., IRIDEX Corp., Lumenis, and Other Key Vendors.
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Key Market Developments
- In March 2023, The Ontario government and members of the Ontario Association of Optometrists (OAO) approved a new four-year funding deal to provide high-quality access to eye care treatments.
- In January 2024, the Union Ministry of India of India inaugurated the brand-new, cutting-edge Sharp Sight Eye Hospital dedicated to providing quality eye care treatment.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global diabetes associated ophthalmic treatment market based on the below-mentioned segments:
Global Diabetes Associated Ophthalmic Treatment Market, By Type
- Devices
- Drugs
Global Diabetes Associated Ophthalmic Treatment Market, By Application
- Glaucoma
- Diabetic Retinopathy
- Eye Allergy & Infection
- Dry Eye Syndrome
- Diabetic Associated Macular Degeneration
- Cataract
- Uveitis
Global Diabetes Associated Ophthalmic Treatment Market, By End-Use
- Ambulatory Surgical Centers
- Hospitals
- Ophthalmic Centers
Global Diabetes Associated Ophthalmic Treatment Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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