Diabetic Retinopathy Market Size Worth USD 6650 Million by 2030 at 6.50% CAGR – Report by Market Research Future (MRFR)

New York, USA, May 05, 2023 (GLOBE NEWSWIRE) — Diabetic Retinopathy Market overview:

According to a Comprehensive Research Report by Market Research Future (MRFR), “Diabetic Retinopathy Market Information by Type, Treatment, End User and Region – Forecast till 2030”, the market is projected to expand USD 6650 Million at a 6.50% CAGR during the forecast period 2022-2030.

Market Scope:

High blood glucose levels brought on by inadequate insulin production or insulin resistance are the hallmark of diabetes mellitus (DM), a chronic illness. Diabetes has a side effect known as diabetic retinopathy, which damages the retina. Vision loss and finally blindness are consequences of this condition. In addition to having an immediate negative impact on patients’ quality of life, diabetic retinopathy has a huge financial burden on healthcare systems. The most frequent cause of legal blindness in those between the ages of 20 and 74 is diabetic retinopathy.

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Report Scope:

Diabetic Retinopathy Market Competitive Outlooks:

The key players in the Global Diabetic Retinopathy Market are

• F.Hoffmann-La Roche AG
• Regeneron Pharmaceuticals, Inc.
• Alimera Sciences
• Ampio Pharmaceuticals Inc.
• Aurolab, Allergan PLC
• Abbott Laboratories

Diabetic Retinopathy Market Trends:

Market Drivers

An increase in diabetes prevalence, a rise in the senior population, an increase in the incidence of diabetes-related blindness, and a greater focus on early identification to manage diseases are driving the market. As new technology and minimally painful laser procedures with quick recovery become accessible, patients’ willingness to undergo surgical treatments is expected to rise. Additionally, modern ophthalmic devices and systems have made diagnostic and surgical procedures simpler, aiding in the growth of the sector. According to the study, the DeepDR system achieved high sensitivity and specificity in diabetic retinopathy grading. With the addition of the image quality sub-network and lesion-aware sub-network into DeepDR, it improved the diagnostic performance and more closely followed the thought process of ophthalmologists. Retinal screening can aid in the early detection of diabetic retinopathy, which can be used for administering the timely treatment. As a result, the DeepDR has enormous potential to increase the usability and effectiveness of diabetic retinopathy screening, which might be included into future devices and spur growth in the industry under study.

Market Restraints

People’s disregard for diabetic retinopathy symptoms, inadequate management of diabetic retinopathy therapy, and higher risk of the related adverse effects of the treatment choices are some of the reasons restricting the growth of the worldwide market for diabetic retinopathy treatment. The lack of qualified ophthalmologists and the prolonged medication approval process are further factors that restrict this expansion.

COVID-19 Analysis:

The COVID-19 pandemic disrupted not only the research and development of treatments and medications for illnesses other than COVID-19 but also the global supply chain for pharmaceuticals and medical devices, which had an effect on the market for diabetic retinopathy under study. However, lockdown caused a quick shift to online activities that included not just employment but also education and leisure, which increased peoples’ screen time as well as their use of vision aids like contact lenses and eyeglasses. Additionally, the COVID-19 pandemic is anticipated to have a long-term effect on the populace as many daily tasks are now performed online, which could have a detrimental effect on the eyes. This has increased demand for vision correction medications and equipment, which has benefited the market.

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Diabetic Retinopathy Market Segmentation:

By Type 

The most severe form of diabetic retinopathy is called proliferative diabetic retinopathy (PDR). Circulation issues are depriving the retina of oxygen at this point. As a consequence, the retina and the vitreous, the gel-like fluid that fills the back of the eye, might start to develop new, delicate blood vessels. The vitreous may become blood-stained because to the new blood vessels, impairing vision. The segment will continue to rise as a result of increased research and development efforts aimed at creating efficient diagnostic and treatment approaches for proliferative diabetic retinopathy.

By Treatment

Anti-vascular endothelial growth factor (VEGF) medication in the treatment type category is anticipated to have a sizable market share during the projection period. By 2030, the use of anti-vascular endothelial growth factor (VEGF) medications is anticipated to increase due to clinical trials that have demonstrated its effectiveness in the treatment of diabetic retinopathy.

By End User

The hospital segment is poised to acquire a significant growth rate over the review period.

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Diabetic Retinopathy Market Regional Analysis:

Due to the large number of well-established competitors there and rising R&D costs, the market in the Americas is predicted to dominate the diabetic retinopathy industry. Due to the rising incidence of diabetes, the prevalence of diabetic retinopathy, and the rising need for preventive care, North America is anticipated to have the greatest proportion of the worldwide market for diabetic retinopathy. By 2030, it is projected that established healthcare systems, availability to cutting-edge technology, and rising public awareness of the need of routine eye exams will all contribute to the growth of the diabetic retinopathy treatment market in North America. 

The diabetic retinopathy global market is predicted to place Europe in second place. This is explained by the existence of a strong healthcare system and the rising incidence of diabetes.

Because of its expanding population and increased consumer knowledge of the items, Asia-Pacific is predicted to have the greatest rate of market growth in the region. Due to the rapidly rising prevalence of diabetic retinopathy, rising disposable incomes, and improving healthcare systems in emerging nations, the Asia Pacific region is anticipated to be the fastest-growing emerging market.

Due to the region’s low disposable income, the Middle East and Africa’s diabetic retinopathy market is predicted to have the smallest proportion of the worldwide market.

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