Richmond, Feb. 09, 2024 (GLOBE NEWSWIRE) -- According to a research report "Diabetic Retinopathy Market”, By Type (Proliferative Diabetic Retinopathy, Diabetic Macular Edema (DME)), Treatment Type (Anti VEGF Drug, Steroid Implants, Laser Surgeries, and Vitrectomy) and Region - Global Forecast to 2030.
Global Diabetic Retinopathy Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 8.4 Billion |
| Market size value in 2030 | USD 13.23 Billion |
| CAGR (2023-2030) | 6.7% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Type, Treatment Type, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Diabetic Retinopathy Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The market for diabetic retinopathy, a common complication of diabetes affecting the eyes, is experiencing significant growth driven by factors such as the rising prevalence of diabetes globally, increasing awareness about early detection and management of diabetic retinopathy, advancements in diagnostic technologies, and a growing geriatric population. Additionally, the demand for innovative treatment options, including pharmaceuticals, laser therapies, and surgical interventions, continues to propel market expansion. Moreover, initiatives by governments and healthcare organizations to improve access to eye care services and the introduction of novel therapies hold promise for further market development. However, challenges such as limited access to healthcare in certain regions, high treatment costs, and the need for effective screening programs remain areas of concern for stakeholders in the diabetic retinopathy market.
Major Vendors in the Global Diabetic Retinopathy Market:
- Novartis
- Regeneron Pharmaceuticals
- Genentech
- Allergan
- Bayer AG
- Aerpio Pharmaceuticals
- Ampio Pharmaceuticals
- BCN Peptides
- ThromboGenics
- Kowa Company
- Alimera Sciences
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Rising Prevalence of Diabetes
The escalating prevalence of diabetes worldwide stands as a significant driver for the growth of the diabetic retinopathy market. With diabetes being a primary risk factor for the development of diabetic retinopathy, the increasing incidence of diabetes diagnoses across all age groups, particularly in emerging economies and among urban populations, has spurred demand for effective screening, diagnosis, and treatment options for associated complications, notably diabetic retinopathy. As diabetes continues to rise due to factors such as sedentary lifestyles, unhealthy dietary habits, and an aging population, there is a corresponding surge in the number of individuals at risk of diabetic retinopathy, propelling the demand for specialized ophthalmic care, innovative therapies, and advanced diagnostic technologies to mitigate the burden of this sight-threatening condition. Consequently, the expanding diabetic population serves as a primary catalyst driving the growth trajectory of the diabetic retinopathy market.
Market Dynamics
Drivers:
- Growing Awareness and Early Diagnosis
- Growing government initiatives and favorable reimbursement policies
- Rising Healthcare Expenditure
Opportunities:
- Develop and commercialize improved anti-VEGF drugs
- Rising prevalence of diabetes
The Rising Demand for GMP Compliant Services
The rising demand for GMP (Good Manufacturing Practice) compliant services is a notable trend propelling the growth of the Diabetic Retinopathy Market. This trend is primarily driven by stringent regulatory requirements governing the biopharmaceutical industry, necessitating adherence to rigorous quality standards throughout the drug development and manufacturing process. As biopharmaceutical companies increasingly prioritize regulatory compliance to ensure product safety and efficacy, the demand for GMP-compliant cell banking services surges. These services play a crucial role in supporting biopharmaceutical firms in achieving regulatory approval by providing comprehensive solutions for the storage, characterization, and distribution of master cell banks (MCBs) and working cell banks (WCBs) in compliance with GMP guidelines. Consequently, the market witnesses sustained growth as companies seek reliable partners offering expertise in GMP-compliant cell banking services to navigate the complex regulatory landscape effectively.
North America dominates the market for Diabetic Retinopathy Market.
North America is projected to dominate the market share significantly due to the high incidence of diabetes in the region. The prevalence of obesity is a key factor fueling diabetes rates, thereby contributing to the growth of the market for diabetic retinopathy. In 2014, the Center for Disease Control and Prevention (CDC) reported that around 100 million individuals in the U.S. were affected by diabetes.
The global diabetic retinopathy market is propelled by factors such as the presence of advanced healthcare facilities, supportive government initiatives towards drug research, and extensive awareness among both patients and healthcare providers. Additionally, the market is driven by significant unmet medical requirements, increasing patient awareness about efficient diabetes diagnosis methods, and the continuous growth in healthcare spending.
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Diabetic Macular Edema (DME) Segments is anticipated to hold the Largest Market Share during the Forecast Period
Based on the Type segment categorized into Proliferative Diabetic Retinopathy and Diabetic Macular Edema (DME). In the diabetic retinopathy market, diabetic macular edema (DME) has emerged as the dominant segment. DME is characterized by the accumulation of fluid in the macula, the central part of the retina, leading to vision impairment. This segment's dominance can be attributed to several factors. Firstly, diabetic macular edema affects a substantial proportion of individuals with diabetes, significantly contributing to the overall prevalence of diabetic retinopathy. Secondly, advancements in diagnostic technologies have enhanced the detection and monitoring of DME, prompting more effective treatment interventions. Additionally, pharmaceutical innovations and targeted therapies specifically designed to address DME have expanded treatment options, further driving the growth of this segment. Moreover, the recognition of DME as a significant cause of vision loss has prompted increased research efforts and healthcare initiatives focused on prevention and management, consolidating its prominence within the diabetic retinopathy market.
Segmentations Analysis of Diabetic Retinopathy Market: -
- By Type
- Proliferative Diabetic Retinopathy
- Diabetic Macular Edema (DME)
- By Treatment Type
- Anti VEGF Drug
- Steroid Implants
- Laser Surgeries
- Vitrectomy
- By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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