Market Analysis: Global Diabetic Retinopathy Treatment Market
Rising growth of the diabetic and geriatric population all over the world, leading to Diabetic Retinopathy is one of the leading causes in the rise of this market. This trend will cause the market to grow at a CAGR of 6.3% in the forecast period of 2018-2025 with its value rising up to USD 13.04 billion by 2025 from USD 8 billion in 2017.
Market Definition: Global Diabetic Retinopathy Treatment Market
Diabetes is a chronic metabolic disorder, which causes high blood sugar over a prolonged period in the human body. If not taken care of properly, it can cause various complications which include strokes, kidney diseases, foot ulcers, cardiovascular diseases, and damage to the eyes.
Diabetes is caused by the defects in pancreas, when it cannot secret insulin properly and causes the blood sugar levels to rise and therefore, leads to diabetes and various other disorders and complications.
According to WHO, the number of people with diabetes has increased from 108 million in 1980 to around 422 million in 2014. On top of it, the global frequency of cases of diabetes has doubled, at nearly 8.5% in 2014, as compared to 4.7% in 1980.
- Rising cases of diabetes among the world population is the driving factor for the Diabetic Retinopathy Treatment Market, as diabetes causes damage to the eyes
- Increased income and avoidance of blindness in patients is set to propel the spending habits of patients and increase the market growth for the industry
- Lack of insurance and information regarding the disease will cause the market growth to be halted
- Lack of skilled and experienced ophthalmologists will cause the market to suffer
Segmentation: Global Diabetic Retinopathy Treatment Market
- By Type
- Non-Proliferative Diabetic Retinopathy
- Proliferative Diabetic Retinopathy
- By Treatment Type
- Laser Surgery
- Intraocular Steroid Injection
- Anti-Vascular Endothelial Growth Factor drug
- By Device Type
- Focal Laser Treatment
- Vitrectomy Devices
- Scatter Laser Treatment
- By Drug Type
- Triamcinolone Acetonide Injection
- By End-User
- Ophthalmic Clinics
- Ambulatory Surgical Centers
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- In April 2018, IDx Technologies Inc. announced that US Food and Drug Administration permitted the marketing of the first Artificial Intelligence system IDx-DR, for the detection of eye disease diabetic retinopathy in adults.
- In July 2018, Diabetes Australia announced the funding of AUD 1 million for one year for the development of eye screening program to protect the sights of people suffering from diabetes
Competitive Analysis: Global Diabetic Retinopathy Treatment Market
The Global Diabetic Retinopathy Treatment Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Diabetic Retinopathy Treatment market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Competitors: Global Diabetic Retinopathy Treatment Market
Bayer AG, IDx Technologies Inc., Novartis AG, F. Hoffmann-La Roche Ltd, Oxurion NV, Regeneron Pharmaceuticals Inc., Sirnaomics Inc., Aerpio, ALLERGAN, Sirnaomics, Inc., Ampio Pharmaceuticals Inc., Glycadia, Inc., Alimera Sciences, Kowa Company Ltd., Bausch Health, Abbott, Pfizer Inc., IRIDEX Corporation, Lumenis, Valon Lasers, are few of the major competitors currently working on the Diabetic Retinopathy Treatment market.
Key Insights in the report:
- The key market players are analyzed and their effects on the market is also observed
- Market analysis is conducted for the forecast period of 2018 to 2025, and the market segmentations are observed during that period
- The market drivers and restraints have been clearly analyzed for the effect that they have over the market in the forecast period of 2018 to 2025