The Diabetic Retinopathy Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Diabetic Retinopathy Global Market Report 2024, 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.
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.
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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
Technological advancements are a key trend gaining popularity in the diabetic retinopathy market. Major companies operating in the large volume parenteral market are adopting new technologies to sustain their position in the market. For instance, in July 2022, Baxter International Inc., a US-based healthcare company, launched Welch Allyn RetinaVue 100 Imager PRO in South Korea. These technologies are intended to allow for the detection of diabetic retinopathy in primary care settings. RetinaVue has proven to increase patient compliance for potentially life-saving annual diabetic retinal exams (DREs) by screening patients quickly and comfortably during a routine primary care visit.
The diabetic retinopathy market report table of contents includes:
1. Executive Summary
2.Diabetic Retinopathy Market Characteristics
3. Market Trends And Strategies
4. Diabetic Retinopathy Market analysis
5.Diabetic Retinopathy Market Size And Growth
6. Diabetic Retinopathy Segmentation
7.Diabetic Retinopathy Regional And Country Analysis
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27.Diabetic Retinopathy Competitive Landscape And Company Profiles
28.Diabetic Retinopathy Key Mergers And Acquisitions
29.Diabetic Retinopathy Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Pfizer Inc.
- F-Hoffmann-La Roche Ltd.
- Abbvie Inc.
- Bayer AG
- Novartis AG
- Ellex Medical Lasers Ltd.
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