Westford,USA, Feb. 01, 2024 (GLOBE NEWSWIRE) -- The global Diabetic Retinopathy market size is expected to reach USD 13.77 billion by 2030 and exhibit a CAGR of 6.4% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing global prevalence of diabetes, as diabetic retinopathy, is a common complication of diabetes, the increasing awareness and early diagnosis of diabetic retinopathy through regular eye screening programs, the advancements in diagnostic technologies such as optical coherence tomography (OCT) and fundus photography for early disease detection, the development of novel therapeutic interventions and treatment modalities like anti-VEGF drugs and laser therapy is fueling the market's growth.
According to SkyQuest's latest global research of the Diabetic Retinopathy market, the adoption of telemedicine and teleophthalmology for remote screening and consultation, the integration of artificial intelligence (AI) and machine learning algorithms to improve early disease detection and risk assessment, the development of minimally invasive surgical techniques for advanced cases, the expansion of diabetic retinopathy management programs in emerging economies, the growing emphasis on patient-centered care and shared decision-making in treatment approaches, and the increasing collaboration between pharmaceutical companies and research institutions to explore innovative therapies and drug delivery methods, are the trends that aid in the market's growth.
Browse in-depth TOC on "Diabetic Retinopathy Market"
- Pages - 157
- Tables - 63
- Figures -75
Diabetic retinopathy is a complication of diabetes that can damage the retina, the light-sensitive tissue at the back of the eye. Over time, diabetic retinopathy can lead to vision loss and blindness
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Prominent Players in Diabetic Retinopathy Market
- Regeneron Pharmaceuticals
- Bayer
- Novartis
- Eli Lilly and Company
- Roche
- Allergan
- Alcon
- AbbVie
- Johnson & Johnson
- Pfizer
- Sanofi
- GlaxoSmithKline
- Bristol-Myers Squibb
- Merck
- AstraZeneca
- Boehringer Ingelheim
- Celgene
- Gilead Sciences
- Optos
- Topcon
- Zeiss
- Nidek
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 8.30 Billion |
| 2030 Value Projection | 13.77 Billion |
| CAGR | 6.4%% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Non-Proliferative Diabetic Retinopathy (NPDR) Demand to Grow Substantially in the Forecast Period
Non-Proliferative Diabetic Retinopathy (NPDR) dominate the global online market as it is an early stage of diabetic retinopathy characterized by damaged blood vessels in the retina but without the growth of abnormal blood vessels. NPDR is more common and often precedes the more severe proliferative diabetic retinopathy (PDR).
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Hospitals are the Leading Application Segment
In terms of application, hospitals are the leading segment as central hubs for diagnosing, treating, and managing diabetic retinopathy. They often have specialized ophthalmology departments and clinics equipped with the necessary diagnostic and treatment technologies.
North America is the leading Market Due to the High Diabetes Prevalence
Region-wise, North America is one of the largest growing markets with a High Diabetes Prevalence. The region boasts advanced healthcare infrastructure and a strong focus on medical research, leading to the early adoption of innovative diagnostic and treatment technologies.
A recent report thoroughly analyzes the major players operating within the Diabetic Retinopathy market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Diabetic Retinopathy.
Key Developments in Diabetic Retinopathy Market
- Regeneron Pharmaceuticals, Inc. announced that the US Food and Drug Administration (FDA) has accepted for update the EYLEA (aflibercept) The injection supplemental Biologics License Use (sBLA) for every 16-week 2 mg dosage regimen (after initial every month doses) in patients in diabetic retinopathy (DR).
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Key Questions Answered in Diabetic Retinopathy Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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