The global diabetic retinopathy market size stood at around USD 8 billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period
Favourable reimbursement policies available for ophthalmologic surgeries should positively influence diabetic retinopathy market growth. Diabetic retinopathy is a chronic condition that affects eyes and leads to blindness in elderly people. Laser surgery not only helps in retaining eye sight but also, prevents from further damage caused by proliferative diabetic retinopathy. Since there have been technological interventions in these surgeries, elderly people and population in emerging economies face affordability issues due to hike in price of surgeries. Therefore, insurance providers such as Medicaid and Medicare implement several policies to reduce the procedural costs that proves beneficial for industry growth.
Increase in prevalence of diabetes, rise in geriatric population, growth in incidence of blindness due to diabetes, and augment of focus on awareness that facilitates early diagnosis to control the diseases drive the market. However, this growth is limited by dearth of skilled ophthalmologists, and extended approval time for drugs. Conversely, emergence of combined therapies for treatment of diabetic macular edema and the emerging markets of the Asia-Pacific and LAMEA regions are expected to provide several opportunities for market growth during the forecast period.