Diabetic Retinopathy Market Global Industry Analysis and Growth By 2020 – Size, Share, Trends, Opportunities, Top 5 Key Players and Regional Forecast Up To 2027
Diabetic retinopathy is one of the complications of diabetes, in which blood vessels in the retina gets damaged due to high blood glucose level. Retina is the light sensitive inner lining at the back of the eye. Diabetic retinopathy mostly affects both the eyes. As disease condition progresses, diabetic retinopathy symptoms including fluctuating vision, blurred vision, impaired color vision or sometimes dark and empty areas in vision leads to vision loss. The line of treatment for diabetic retinopathy depending on the disease condition of the patient, may require laser surgery, intraocular injections, and anti (VEFG) vascular endothelial growth factor therapy.
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Global Diabetic Retinopathy – Market Dynamics
Increasing incidence of diabetes along with increasing cases of blindness due to diabetes are expected to drive the diabetic retinopathy market growth. According to the International Diabetic Federation report, 2017, around 425 million adults of age group 20 to 79 years are suffering from diabetes. According to the International Agency for the Prevention of Blindness, 2016, one in three people having diabetes have high chances of getting affected by diabetic retinopathy. Moreover, according to the article published in The Lancet, 2018, the annual incidence of diabetic retinopathy ranges from 2.2% to 12.7%, globally.
Moreover, several launches and approvals of new diabetic retinopathy medications are expected to boost growth of the diabetic retinopathy market over the forecast period. For instance, in May 2019, Regeneron Pharmaceutical received the U.S. Food and Drug Administration (FDA) approval for EYLEA, an aflibercept injection for diabetes retinopathy. EYLEA is the only vascular endothelial growth factor (VEGF) inhibitor approved in two dosing options for diabetes retinopathy, allowing doctors to customize treatment as per patient need.
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Global Diabetic Retinopathy Market – Regional Insights
On the basis of geography, the global diabetes retinopathy market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America accounted for the largest market share in diabetes retinopathy market, owing to high prevalence of diabetic retinopathy in the region. According to the National Health Interview Survey, 2016-17, around 8.6% people have diabetic retinopathy in the U.S.
Europe also exhibits high growth in diabetes retinopathy market due to high prevalence of diabetic retinopathy. According to a report presented by the University of Bonn, 2017, around 17.7% of diabetic patients have showed signs of moderate non-proliferative diabetic retinopathy while around 2% patients are affected by severe non-proliferative diabetic retinopathy in the Europe. Moreover, according to the same source, around 4.1% of adults aged 45 and above are reported to have vision loss due to diabetic retinopathy in the Europe.
Asia Pacific region is also witnessing lucrative growth in diabetic retinopathy market due to increasing disposable income, large patient pool, and innovation in diagnostic approach and government health insurance policies. According to the journal of Diabetology report 2018, around 80 million people were suffering from diabetes in Asia Pacific region in 2017 and is expected to increase to 151 million by 2045. Furthermore, according to The Union Health Ministry’s first National Diabetes and Diabetic Retinopathy Survey conducted from 2015-2019, around 16.9% of people are suffering from diabetic retinopathy in India.
Global Diabetic Retinopathy Market – Competitive Landscape
Key players operating in the global diabetic retinopathy market include Novartis AG, Regeneron Pharmaceuticals, Bayer Healthcare, Actavis Plc, Alimera Science, Pfizer Inc., Hoffmann-La Roche Ltd, Abbott Laboratories Ltd, Sirnaomics, Glycadia pharmaceuticals, Boehringer Ingelheim, Therapeutics Inc, Ampio pharmaceuticals, Lupin Ltd, and others.
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Global Diabetic Retinopathy Market – Market Taxonomy
On the basis of disease type, the global diabetic retinopathy market is segmented into:
- Proliferative diabetic retinopathy
- Non-proliferative diabetic retinopathy
On the basis of treatment, the global diabetic retinopathy market is segmented into:
- Anti-Vascular Endothelial Growth Factor Therapy (Anti- VEGF)
- Intraocular steroid injection
On the basis of distribution channel, the global diabetic retinopathy market is segmented into:
- Hospitals Pharmacies
- Retail Pharmacies
- Online Pharmacies
On the basis of geography, the global diabetic retinopathy market is segmented into:
- North America
- Latin America
- Asia Pacific
- Middle East
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