Global Diabetic Retinopathy Market: Segmented by Type (Proliferative Diabetic Retinopathy, Non-Proliferative Diabetic Retinopathy), by Age Group (40-49, 50-64, 65-74), by Management (Anti-VEGF, Intraocular Steroid Injection, Laser Surgery, Vitrectomy), by Distribution Channel (Hospitals & Pharmacies, Eye Clinics, Ambulatory Surgical Centres), Industry Analysis Forecast, 2019 – 2028.
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.
1. Global Diabetic Retinopathy Market Overview……………………………………….. A. Market Size 2. Market Growth Drivers……………………………………………………..………………. A. Increasing Technological Advancements in Diabetic Retinopathy Surgical Instruments in Developed Countries B. Favorable Reimbursement Available for Ophthalmologic Surgeries in Developed as Well as Developing Economies C. Rising Prevalence of Diabetes in Asia Pacific and Other Underdeveloped Economies D. Growing Geriatric Population in North America and Europe 3. Global Diabetic Retinopathy types…………………………………………………. A. Proliferative diabetic retinopathy (Market size, by region) B. Non-proliferative retinopathy (Market size, by region) 4. Diabetic Retinopathy Market Segmentation……………..………………………….. A. By Management I. Anti-VEGF Drug II. Intraocular Steroid Injection III. Laser Surgery IV. Vitrectomy B. By Geography I. North America Market Analysis II. Europe Market Analysis III. Asia-Pacific Market Analysis IV. Latin America, Middle-East and Africa Market Analysis 5. Diabetic Retinopathy Major Drugs Market Share…………………………………. A. Market Analysis, Insights and Forecast to 2028 by revenue 6. Competitive Landscape………………………………………………………….……….. A. Major Players B. Products in Pipeline 7. Key Company Profiles……………………………………………………………………. A. Alimera Sciences Company overview, Product & Services, Strategies & Financials B. AbbVie Inc. Company overview, Product & Services, Strategies & Financials C. BCN Peptides Company, Product & Services, Strategies & Financials 8. Potential Growth Opportunities………………………………………………..………… A. Advancements in drug development B. Untapped markets in developing economies 9. Factors Driving Future Growth………………………………………………………….. A. Key Industry Developments in Diabetic Retinopathy Market B. Future Opportunities 10. Conclusion
By Age Group:
Robust segmental growth can be attributed to the growing prevalence of diabetes in the age group of 40-49. People in 40-49 age group are working professionals having sedentary lifestyle and unhealthy diet. Thus, people in 40-49 age group have high chances of acquiring diabetes that augments the segmental growth.
65-74 age group segment was valued around 2 billion in 2018. Significant revenue size is associated with high frequency of proliferative diabetic retinopathy among diabetic patients in the age group of 65-74 years. Additionally, this age group constitutes of large patient pool that increases the demand for medications and treatments elevating the business growth in the coming years.
Anti-VEGF segment was valued around USD 7 billion in 2018 and considerable revenue size can be associated with its growing preference in treating diabetic eye disease. Anti-VEGF therapy has commendable efficacy and helps in improving visual acuity drastically. From past several years, this therapy is thought to stabilize vision in patients suffering from diabetic retinopathy. Aforementioned factors are expected to drive the segment growth in upcoming years.
Vitrectomy segment will have over 8% growth during forecast timeframe due to several benefits associated with it. This microincision technique is mostly preferred as it is minimally invasive technique having high precision. Also, vitrectomy procedure involves less tissue manipulation and reduced inflammation. Therefore, it is preferred in treating diabetic retinopathy that will stimulate segmental growth.
In terms of geography, the global diabetic retinopathy market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the market during the forecast period owing to the rise in prevalence of diabetic retinopathy patients in the region, increase in healthcare infrastructure, and growth in awareness about Diabetic retinopathy among diabetic patients. Asia Pacific is estimated to follow North America, led by the increase in diabetic population and changing lifestyle of people in the region. Asia Pacific is expected to maintain the highest growth rate during the forecast period. Middle East & Africa is projected to be the least attractive market primarily due to the presence of low income groups, lack of skilled professionals, and poor accessibility to healthcare facilities in the region.
Top 5 Major Players
Some of the key players operating in the market include Novartis AG, Eli Lilly & Company, Abbott Laboratories, Endo Health Solutions, Inc., Purdue Pharma L.P., Pfizer, Inc., Mylan NV., Merck & Co. Inc., Johnson & Johnson, and GlaxoSmithKline Plc. The other prominent players in the value chain include Allergen Inc., Bayer AG, Bristol-Myers Squibb, Valeant Pharmaceuticals International Inc., Boehringer Ingelheim, Sorrento Therapeutics, WEX Pharmaceuticals, and Zynerba Pharmaceuticals.
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