Diabetic Retinopathy Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Diabetic Retinopathy Market covers analysis by Type (Proliferative Diabetic Retinopathy and Non-Proliferative Diabetic Retinopathy), Treatment (Anti-VEGF Drug, Steroid Injection, Laser Surgeries, and Vitrectomy), and Distribution Channel (Retail Pharmacies, Hospital Pharmacies, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Apr 2024

  • Report Code : TIPRE00004185
  • Category : Medical Device
  • Status : Upcoming
  • No. of Pages : 150
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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. Based on distribution channel, the market Is segmented into retail pharmacies, hospital pharmacies, and others.


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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:

Diabetic Retinopathy MarketSource: The Insight Partners Analysis

The report analyzes affecting factors, such as drivers, restraints, opportunities, and future trends, which impact the diabetic retinopathy market. 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.

World Geography

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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 retinopathy market 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.

Market Research

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, Treatment, and Distribution Channel

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

The List of Companies

- 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 Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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