What is the global market size of Diabetic Retinopathy Market?

Global Diabetic Retinopathy Market size was valued at USD 7.80 billion in 2021 and is poised to grow from USD 8.30 billion in 2022 to USD 13.77 billion by 2030, at a CAGR of 6.4% during the forecast period (2023-2030).

What is the key driver of Global Diabetic Retinopathy Market?

The diabetic retinopathy market is experiencing notable growth driven by increased investments in healthcare infrastructure. This enhanced infrastructure contributes to improved healthcare services and accessibility. Moreover, the market is benefiting from heightened efforts by both public and private organizations to raise awareness about diabetic retinopathy. Additionally, a favorable reimbursement scenario and the presence of a population with high disposable income are facilitating the expansion of the diabetic retinopathy market. The aging demographic, coupled with evolving lifestyles, is also playing a significant role in augmenting the market's growth rate.

What is the key market trend for Global Diabetic Retinopathy Market?

Increasing Emphasis on Early Detection and Intervention: There is a growing recognition of the importance of early detection and intervention in diabetic retinopathy. The focus is shifting towards regular screening programs, awareness campaigns, and advanced imaging technologies for early diagnosis, enabling timely treatment and better management of the condition.

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 2024-2031

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

Diabetic Retinopathy Market News

In June 2023 Eyenuk received FDA clearance for its Topcon NW400 retinal camera with its EyeArt AI system for the autonomous AI detection of diabetic retinopathy.

In January 2023, Eyenuk received European Union Medical Device Regulation (MDR) certification for its EyeArt AI eye screening system. This certification covers the detection of diabetic retinopathy, age-related macular degeneration, and glaucoma.

In June 2022, Regeneron Pharmaceuticals, Inc. announced that the US Food and Drug Administration (FDA) has accepted for update the EYLEA (aflibercept) The injection supplemental Biologics License Use (sBLA) for every 16-week 2 mg dosage regimen (after initial every month doses) in patients in diabetic retinopathy (DR).

Diabetic Retinopathy Market Report Snapshots

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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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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 2024-2031

Diabetic Retinopathy Market News

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What is the global market size of Diabetic Retinopathy Market?

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