Newark, New Castle, USA, March 16, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, “Proliferative Diabetic Retinopathy Market by Treatment Type (Anti-VEGF Therapy, Intraocular Steroids), Intraocular Steroid, Laser Surgery) - Global Outlook & Forecast 2022-2030" published by Growth Plus Reports, the proliferative diabetic retinopathy market is expected to grow at a CAGR of 6.9% from 2021 to reach US$ 3.28 billion by 2030. Owing to the increasing incidence of diabetes and diabetes associated retinopathy globally, states Growth Plus Reports.
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Proliferative Diabetic Retinopathy Market Scope
| Report Attribute | Details |
| Market size value in 2021 | US$ 1.8 billion |
| Revenue forecast in 2030 | US$ 3.28 billion |
| Growth Rate | CAGR of 6.9% from 2022 to 2030 |
| Base year for estimation | 2021 |
| Forecast period | 2022-2030 |
| Historical Year | 2020 |
| Segments covered | Treatment Type, and Region. |
| Regional scope | North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
Growth Drivers
The global proliferative diabetic retinopathy market is expected to grow significantly in the coming years, driven factors such as increasing prevalence of diabetes, coupled with rising awareness of the condition. Further, the availability of novel treatments, such as anti-VEGF agents, and increased focus on R&D activities by pharmaceutical companies is expected to boost the market. Additionally, the increasing focus on research and development of novel treatments is expected to propel market growth. Furthermore, the growing demand for early diagnosis and treatment of the condition is expected to fuel the growth of the market. Angiogenesis will play a significant role in the etiology of proliferative diabetic retinopathy, and intravitreal antiangiogenic injection has been proposed as a potential treatment for the condition. A range of antiangiogenic techniques are being used to effectively treat proliferative diabetic retinopathy; these techniques are predicted to be significant in the treatment and prevention of the condition in the upcoming years.
Patients' willingness to spend money on the necessary treatment for proliferative diabetic retinopathy has been influenced by their rising disposable income and concerns about losing their vision. Individuals with proliferative diabetic retinopathy may be more likely to choose for surgical treatments if they have access to cutting-edge medical equipment and less invasive laser therapy that also has a quicker recovery period. The elderly population has been steadily increasing globally, and this demographic is especially susceptible to various chronic diseases, including diabetes. Hence, proliferative diabetic retinopathy is more common in elderly adults. Because to this, older people now have a greater need for effective treatments for proliferative diabetic retinopathy.
The global proliferative diabetic retinopathy market has been analyzed from two perspectives: Treatment Type, and Region.
Excerpts from ‘By Treatment Type Segmentation’
Based on treatment type, the global proliferative diabetic retinopathy market has been segmented into:
- Anti-VEGF (Anti–vascular endothelial growth factor therapy)
- Intraocular Steroid
- Laser Surgery
- Vitrectomy
The anti-VEGF therapy accounts for the largest revenue share in the global proliferative diabetic retinopathy. This is due to the advantages provided by the therapy, such as Anti-VEGF medicine blocks VEGF, slowing the growth of blood vessels in the eye. This slows or stops damage from the abnormal blood vessels and slows down vision loss. Hence, it is highly recommended in the management of the proliferative diabetic retinopathy.
However, the intraocular steroid segment is projected to grow at a high revenue CAGR in the forecast period. Intravitreal triamcinolone, a steroid, is being used in the treatment of diabetic retinopathy and has proved to be highly effective.
Excerpts from ‘By Region Segmentation’
Based on region, the global proliferative diabetic retinopathy market has been segmented into:
- North America
- Europe
- Asia Pacific
- Rest of the World
North America accounted for the largest revenue share in the proliferative diabetic retinopathy market in 2021. The increased availability of cutting-edge technology and minimally invasive laser procedures in the area, as well as the rising incidence of diabetes and diabetic retinopathy, are the main factors driving this. The issue affects about 4.2 million adults nationwide, or 6,55,000 people with diabetic retinopathy, according to the Centers for Disease Control and Prevention. The therapeutic market for proliferative diabetic retinopathy in North America has expanded as a result of the extensive use of management drugs including the anti-VEGF drugs Lucentis, Avastin, and Eylea. The development of the local industry is also being greatly aided by rising healthcare expenses, a developed healthcare infrastructure, and government-sponsored reimbursement programs.
Asia Pacific proliferative diabetic retinopathy (PDR) market is expected to grow at a significant pace over the forecast period. The increasing prevalence of diabetes and its associated complications, along with the availability of better treatment options, are driving the growth of the market. Furthermore, the rising awareness about the disease and its management, along with the increasing use of advanced technologies and diagnostic tools, are expected to contribute to the growth of the market. Additionally, government initiatives and favorable reimbursement policies in the region are likely to further fuel the growth of the market.
Rest of the World regions such as Africa, Sub-Saharan Africa, Latin America regions recorded the highest adult diabetic population. But without sufficient studies, screening guidelines, standard referral criteria, or retinal photocoagulation, these regions capture a very small share in the proliferative diabetic retinopathy market.
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Excerpts from ‘Competitive Landscape’
The proliferative diabetic retinopathy market is consolidated and consists of few major players. Some of the prominent players operating in the global proliferative diabetic retinopathy market are:
- Genentech, Inc.
- Regeneron Pharmaceuticals Inc.
- Bayer AG
- Alimera Sciences, Inc.
- Novartis AG
- Kubota Vision Inc.
- OcuCure Therapeutics, Inc.
- Ocuphire Pharma, Inc.
- PanOptica, Inc.
- AbbVie Inc.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2020
- Base Year – 2021
- Forecast Years – 2022 to 2030
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2021)
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL PROLIFERATIVE DIABETIC RETINOPATHY MARKET - ANALYSIS & FORECAST, BY TREATMENT TYPE
- Anti-VEGF (Anti–vascular endothelial growth factor therapy)
- Intraocular Steroids
- Laser Surgery
- Vitrectomy
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