Categories: Healthcare

Diabetic Retinopathy Market Growth Outlook Through 2024-2033

Overview and Scope

Diabetic retinopathy is an eye condition that can lead to blindness and vision loss in people with diabetes, affecting blood vessels in the retina and the light-sensitive tissue layer in the back of the eye. It commonly causes diabetic macular edema (DME) and neovascular glaucoma.

Sizing and Forecast

The diabetic retinopathy market size has grown strongly in recent years. It will grow from $7.89 billion in 2023 to $8.56 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to aging population, increasing prevalence of diabetes, growing awareness about diabetic retinopathy, improved healthcare infrastructure, rising healthcare expenditure..

The diabetic retinopathy market size is expected to see strong growth in the next few years. It will grow to $11.4 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to personalized medicine approaches, expansion of telemedicine services, development of novel therapeutic interventions, adoption of point-of-care testing, remote patient monitoring. Major trends in the forecast period include precision medicine in diabetic retinopathy treatment, increased focus on early detection and prevention, teleophthalmology services growth, rise in gene therapy research, continuous advancements in retinal imaging technology.

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Segmentation & Regional Insights

The diabetic retinopathy market covered in this report is segmented –

1) By Type: Proliferative Diabetic Retinopathy, Non-Proliferative Diabetic Retinopathy
2) By Treatment: Anti-VEGF Drugs, Intraocular Steroid Injection, Laser Photocoagulation, Vitreoretinal Surgery
3) By End-User: Hospitals, Ambulatory Surgical Centers, Other End Users

North America was the largest region in the diabetic retinopathy market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the diabetic retinopathy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The rising prevalence of diabetes is expected to propel the growth of the diabetic retinopathy market going forward. Diabetes refers to a long-term metabolic disease that causes high blood glucose levels. The rise in the prevalence of diabetes is mainly driven by overweight, obesity, genetics, and physical inactivity, whereas patients with diabetes have too much sugar in their blood, which can damage the retina, which is part of the eye that detects light and sends signals to your brain through a nerve in the back of eye. For instance, in November 2021, according to the International Diabetes Federation, a Belgium-based diabetes federation, the prevalence of diabetes was 10.5% worldwide in 2021, with over half (44.7%) of people still undiagnosed. Further, the diabetic population is expected to increase from 643 million (11.3%) by 2030 to 783 million (12.2%) by 2045. Therefore, the rising prevalence of diabetes is driving the growth of the diabetic retinopathy market.

Key Industry Players

Major companies operating in the diabetic retinopathy market report are Pfizer Inc., F-Hoffmann-La Roche Ltd., Abbvie Inc., Bayer AG, Novartis AG, Ellex Medical Lasers Ltd., Abbott Laboratories Inc., Regeneron Pharmaceuticals Inc., Bausch Health Companies Inc., Icon Bioscience Inc., Allergan plc., Genentech Inc., Aurobindo Pharma, Santen Pharmaceutical Co. Ltd., Carl Zeiss Meditec AG, Valeant Pharmaceuticals International Inc., Lumenis Ltd., Optos Plc., Quantel Medical SAS, NIDEK Co. Ltd., IRIDEX Corporation, Alimera Science Inc., Kowa Company Ltd., Ocular Therapeutix Inc., Aerpio Pharmaceuticals Inc., Kodiak Sciences Inc., Sirnaomics Inc., Oxurion NV, Graybug Vision Inc., Ampio Pharmaceuticals Inc.

The diabetic retinopathy market report table of contents includes:

1. Executive Summary

2. Diabetic Retinopathy Market Characteristics

3. Diabetic Retinopathy Market Trends And Strategies

4. Diabetic Retinopathy Market – Macro Economic Scenario

5. Global Diabetic Retinopathy Market Size and Growth

…

32. Global Diabetic Retinopathy Market Competitive Benchmarking

33. Global Diabetic Retinopathy Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Diabetic Retinopathy Market

35. Diabetic Retinopathy Market Future Outlook and Potential Analysis

36. Appendix