The Global Diabetic Retinopathy Market generated $966 million in 2015 and is projected to attain $2.5 billion by 2022, registering a CAGR of 14.4% during the forecast period, 2016-2022. The emerging markets of the Asia-Pacific and LAMEA regions are expected to provide several opportunities for market growth during the forecast period.
There have been remarkable advancements in the diagnosis and treatment of diabetic retinopathy in recent years. The rapid adoption of intravitreal pharmacological agents such as anti-VEGF drugs and corticosteroids have led to the improvement of vision in DR patients, expected to provide several opportunities for the market growth.
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Increase in prevalence of diabetes around the world has also propelled blindness that’s associated with it, driving the growth of the global retinopathy market. Rise in geriatric population and increasing awareness for treatment of diabetic retinopathy has also supplemented market growth. Additionally, the emergence of combined therapies is set to provide lucrative opportunities for new market players, especially in emerging markets of the Asia-Pacific and LAMEA regions. However, lack of skilled ophthalmologists and extended approval time for drugs impede the growth of the market.
The report segments the global diabetic retinopathy market based on type, management type, and geography. Based on type, the report bifurcates the market into proliferative diabetic retinopathy and diabetic macular edema (DME). The proliferative diabetic retinopathy segment accounted for more than half of the global revenue in 2015, as the disease is one of the leading causes of blindness in diabetic patients. However, the DME segment is expected to encounter the highest growth rate during the forecast period, registering a CAGR of 14.6%.
Based on management type, the market is categorized into anti-VEGF drug, intra-ocular steroid injections, laser surgeries, and vitrectomy. The laser surgeries segment dominated in 2015, accounting for more than two-fifths of the global market share. However, anti-VEGF drug segment is expected to grow at the fastest rate throughout 2022, owing to overcoming major drawbacks of laser treatment. Regionally, North America occupied nearly two-fifths of the global market in 2015 and is expected to remain dominant throughout the forecast period. This is attributed to the increase in occurrence of diabetes along with the rise in geriatric population, increased patient awareness about diabetic retinopathy, and favorable reimbursement framework for retinopathy procedures. However, Asia-Pacific is expected to grow at a high CAGR of 15.4%, owing to the presence of ample growth opportunities in terms of unmet medical needs for the treatment of diabetic retinopathy.
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The report also profiles key players involved in the global diabetic retinopathy market, such as
- Abbott Laboratories,
- Alimera Science,
- Allergan plc,
- Ampio Pharmaceuticals.,
- Bayer AG,
- F. Hoffmann-La Roche,
- Novartis International AG,
- Regeneron Pharmaceuticals Inc., and Valeant Pharmaceutical.
They have adopted various strategies such as mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.
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