Diabetic Retinopathy Market Size, Share, Trends | Forecast 2028

The diabetic retinopathy market is expected to grow from US$ 7.78 billion in 2021 to US$ 12.04 billion by 2028; it is expected to grow at a CAGR of 6.5% from 2022 to 2028.

Diabetes is one of the most commonly diagnosed noncommunicable diseases. The increasing incidence of diabetes has been attributed to the growth of the diabetic retinopathy market. Diabetic retinopathy is characterized by blurred vision and blindness as high sugar levels damage the retina.  Diabetic retinopathy is characterized by blurred vision and blindness as high sugar level damage the retina. According to the Centers for Disease Control and Prevention (CDC) data, diabetic retinopathy affects approximately one-third of the people with diabetes over the age of 40 years, and more than 4.2 million patients are currently living in the US with diabetic retinopathy. As a result, the market leaders are working on developing innovative treatments for diabetic retinopathy, and a wide variety of new related treatments are under investigation. For instance, in May 2019, Regeneron Pharmaceuticals, Inc. received FDA approval for EYLEA® (Aflibercept) Injection for the treatment of diabetic retinopathy.

MARKET DYNAMICS

The growth of the diabetic retinopathy market is majorly attributed to the increasing prevalence of diabetes, the rise in the geriatric population, and increasing cases of diabetic retinopathy. However, slow drug approval and a lack of skilled ophthalmologists are hampering the growth of the market.

MARKET SCOPE

The “Global Diabetic Retinopathy Market Analysis to 2028” report aims to provide an overview of the diabetic retinopathy market with detailed market segmentation based on type, treatment, and distribution channel. The report provides key market statistics based on the performances of the leading players. It also offers key trends and opportunities in the market.

Strategic Insights

MARKET SEGMENTATION

The global diabetic retinopathy market is segmented into type, treatment, and distribution. Based on type, the market is bifurcated into proliferative diabetic retinopathy and non-proliferative diabetic retinopathy. Based on treatment, the market is segmented into anti-VEGF drug, steroid injection, laser surgeries, and vitrectomy

REGIONAL FRAMEWORK

The global diabetic retinopathy market is segmented into five major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The report covers analysis and forecast of 18 countries across the world along with trends and opportunities prevailing in these regions.

North America dominated the diabetic retinopathy market with ~38% share in 2021. The market growth in the region is majorly attributed to the presence of a huge diabetic population along with the presence of leading market players such as Abbott Laboratories, Alimera Science, Allergan Plc, Regeneron Pharmaceuticals Inc., and Pfizer. The below figure showcase the revenue growth trend in the North America diabetic retinopathy market:

Get more information on this report : Request Free Sample PDF

The report analyzes affecting factors, such as drivers, restraints, opportunities, and future trends, which impact the diabetic retinopathymarket. It also provides an exhaustive PEST analysis of the factors impacting the diabetic retinopathy market.

IMPACT OF COVID-19 PANDEMIC

The COVID-19 pandemic adversely impacted the diabetic retinopathy market. It led to disruption in the healthcare facilities, especially the ophthalmology clinics. The outpatient visits were reduced during the pandemic, which resulted in the late diagnosis of diabetic retinopathy, which ultimately resulted in a decreased demand for diabetic retinopathy drugs. According to the study by Strata Decision Technology, the ophthalmology market lost 81% of the volume share during the first wave of COVID-19. Further, ~30% of diabetic retinopathy patients missed clinic visits during the pandemic.

Further, the shutdown of manufacturing units, drastic economic decline, national lockdowns, closure of logistic facilities, delay in clinical trials, and a decrease in diagnostic procedures are other leading factors responsible for the decline in the demand for diabetic retinopathy. Postponement of sales activities, reduction in R&D activities undertaken by leaders to launch advanced products, and economic setbacks experienced by patients led to a dramatic decline in the market growth during year 2020. However, the market is projected to recover by mid-2022 as the progression of diabetes is observed in patients during the COVID-19 period, which ultimately results in the rise in incidence rate of diabetic retinopathy. Along with this, the positive performance of leading diabetic retinopathy drugs for during the initial quarters of 2022 is also indicating the recovery of the diabetic retinopathy market.

MARKET PLAYERS

The report covers key developments in the diabetic retinopathy market. Various companies are focusing on organic growth strategies, such as product launches, product approvals, patents, and events. Inorganic growth strategies such as acquisitions, partnerships, and collaborations have encouraged the expansion of business and the customer base of market players. The market players operating in the diabetic retinopathymarket are anticipated to experience lucrative growth opportunities in the coming years with the rising demand for diabetic retinopathy drugs.

The report also includes the profiles of key diabetic retinopathy market companies, along with their SWOT analysis and market strategies. It also focuses on leading industry players with information such as company profiles, components and services offered, financial information for the last three years, and key development in the past five years. The list of a few companies engaged in the diabetic retinopathy drugs market is mentioned below:

• Abbott Laboratories
• Alimera Science
• Allergan Plc
• Ampio Pharmaceuticals
• Bayer AG
• F. Hoffmann-LA Roche
• Novartis International AG
• PFIZER
• Regeneron Pharmaceuticals Inc
• Valeant Pharmaceutical

The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.

Get more information on this report : Request Free Sample PDF