Global Diabetic Retinopathy Market

Diabetic Retinopathy Market Size, Share, Growth Analysis, By Type(Proliferative Diabetic Retinopathy, and Non-proliferative diabetic retinopathy), By Management(Anti-VEGF, Intraocular Steroid Injection, Laser Surgery, and Vitrectomy), By Region - Industry Forecast 2025-2032


Report ID: SQMIG35A2516 | Region: Global | Published Date: March, 2024
Pages: 219 | Tables: 63 | Figures: 75

Diabetic Retinopathy Market Dynamics

Drivers

Rising Prevalence of Diabetes

  • The increasing global prevalence of diabetes is a significant driver for the diabetic retinopathy market. Diabetic retinopathy is a common complication of diabetes and affects many diabetic patients. The growing diabetic population contributes to the demand for diagnostic and treatment options for diabetic retinopathy. 

Investing more in the infrastructure of healthcare 

  • Better facilities and equipment are made possible by more funding. Among those with the necessary tools to identify and manage diabetic retinopathy are ophthalmology departments. A larger market for diabetic retinopathy may result from increased screening and treatment of more patients with stronger infrastructure.

Restraints 

Lack of Awareness and Access to Eye Care 

  • Despite the growing prevalence of diabetic retinopathy, there is a lack of awareness about the condition and the importance of regular eye examinations among diabetic patients. Limited access to eye care facilities, particularly in remote or underserved areas, hampers early detection and timely treatment.

Hurdles in the Developing World: Lack of Professionals and Infrastructure Hinder Diabetic Retinopathy Market Growth 

  • Developing economies face a double challenge in addressing diabetic retinopathy. Firstly, a scarcity of skilled professionals like ophthalmologists exists. This limits the capacity to diagnose and treat the condition effectively. Secondly, weak healthcare infrastructure translates to a lack of specialized equipment and facilities needed for proper diabetic retinopathy care. These factors combine to restrict the growth of the diabetic retinopathy market in these regions.

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FAQs

Global Diabetic Retinopathy Market size was valued at USD 8.30 billion in 2022 and is poised to grow from USD 8.83 billion in 2023 to USD 14.51 billion by 2031, growing at a CAGR of 6.4% during the forecast period (2024-2031). 

To increase their market position, major players are focused on collaborations, partnerships, acquisitions, and other strategic operations. Industry leaders face growing competition with novel medication launches and regulatory approval of innovative management treatments, making it challenging for them to remain competitive in an ever-changing industry. However, market leaders' large investments in R&D are predicted to enhance market growth. 'Novartis AG', 'Roche Holding AG', 'Bayer AG', 'Regeneron Pharmaceuticals, Inc.', 'Allergan plc (AbbVie Inc.)', 'Carl Zeiss Meditec AG', 'Topcon Corporation', 'Nidek Co., Ltd.', 'Optos plc (Nikon Corporation)', 'Bausch Health Companies Inc.', 'Alcon Inc.', 'Santen Pharmaceutical Co., Ltd.', 'Lumenis Ltd. (XIO Group)', 'Iridex Corporation', 'Leica Microsystems (Danaher Corporation)', 'StemCells Inc. (Microbot Medical Inc.)', 'Bioptigen, Inc. (Metabolic Technologies Inc.)', 'CenterVue SpA', 'Visunex Medical Systems, Inc.', 'Clarity Medical Systems, Inc.'

North America dominated the market, accounting for 37.8% of total revenue in 2023. Some of the market's drivers include the presence of modern healthcare infrastructure, favorable government activities pertaining to medication research, and the presence of substantial patient & practitioner awareness levels. One of the primary factors contributing to this region's huge share is the high market penetration of new goods such as anti-VEGF medications such as Lucentis, Avastin, and Eylea. High healthcare expenditure, increased patient knowledge of diabetes, the availability of well-established medical facilities, and a favorable reimbursement environment are some of the primary causes. 

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Global Diabetic Retinopathy Market

Report ID: SQMIG35A2516

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