Portland, OR, June 14, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Diabetic Retinopathy Market was estimated at $3.08 billion in 2020 and is expected to hit $10.78 billion by 2030, registering a CAGR of 13.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
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Surge in the prevalence of diabetes, rise in the geriatric population, growth in incidence of blindness due to diabetes, and increase in focus on awareness that facilitates early diagnosis to control the diseases drive the growth of the global diabetic retinopathy market. On the other hand, dearth of skilled ophthalmologists and extended approval time for drugs impede the growth to some extent. However, emergence of combined therapies for treatment of diabetic macular edema and the emerging markets of the Asia-Pacific and LAMEA regions are expected to create lucrative opportunities in the industry.
Covid-19 scenario-
- There was a steep decline in ophthalmic outpatient visits during the pandemic. DR screening was frequently postponed during the pandemic, particularly in areas with high Covid-19 community transmission. This factor impacted the global diabetic retinopathy market negatively,
- However, as the global situation has gotten better, the market is anticipated to revive soon.
The global diabetic retinopathy market is analyzed across type, treatment type, and region. Based on type, the proliferative diabetic retinopathy segment contributed to nearly three-fifths of the total market revenue in 2020, and is projected to lead the trail by 2030. The Diabetic Macular Edema (DME) segment, however, would exhibit the fastest CAGR of 13.9% during the forecast period.
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Based on treatment type, the laser surgeries segment accounted for more than two-fifths of the total market share in 2020, and is projected to dominate by 2030. The steroid implants segment, on the other hand, would exhibit the fastest CAGR of 14.9% during the forecast period.
Based on region, the market across North America held the major share in 2020, garnering nearly two-fifths of the global market. The Asia-Pacific region, on the other hand, would manifest the fastest CAGR of 14.4% throughout the forecast period.
The key market players analyzed in the global diabetic retinopathy market report include Ampio Pharmaceuticals, Inc., Valeant Pharmaceuticals International, Inc. (Bausch Health Companies Inc.), Bayer AG, Kowa Co., Ltd., Novartis, Pfizer, Inc., Regeneron Pharmaceuticals, Inc., Alimera Science, Inc., F-Hoffmann-La Roche Ltd., and Abbvie, Inc. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
