Diabetic Retinopathy Market: Current Business Trends & Growth Opportunities 2017-2024
Sellbyville, DE -- (SBWIRE) -- 05/14/2019 -- The Diabetic Retinopathy Market is set to exceed USD 11 billion by 2024; according to a new research report by Global Market Insights. Numerous efforts made by organizations such as Canadian Diabetes Association to provide guidelines for diabetic retinopathy screening to patients suffering from diabetes will favor industry growth. Diabetic eye screening program, and other awareness campaigns arranged by government to reduce disease prevalence will further propel industry growth.
Urbanization, unhealthy eating habits and physical inactivity has surged number of people suffering from chronic conditions such as diabetes. Factors such as prolonged undiagnosed diabetes, ignorance towards treatment and uncontrolled glucose levels will accelerate incidences of diabetes retinopathy over the coming years. However stringent approval procedure and dearth of skilled ophthalmologists will hinder diabetic retinopathy market growth over the forecast timeframe.
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Increasing geriatric population base coupled with rising incidences of age related macular degeneration (AMD) and diabetes will drive diabetic retinopathy industry over the coming years. Technological advancements pertaining to diabetic retinopathy treatment and increasing research activities towards developing innovative products for treating vision loss due to diabetes will fuel market growth.
In case of proliferated diabetic retinopathy, a study suggests that an increased level of vascular endothelial growth factor (VEGF) detected in the fibrovascular tissues of eyes, has led to the usage of anti VEGF, that has proven to be one of the most effective management methods for proliferated diabetic retinopathy, driving the growth of the overall diabetic retinopathy market. Other treatment methods like intraocular steroid injection are also expected to positively influence diabetic retinopathy industry growth, subject to the growing popularity of non-invasive diabetic retinopathy treatment and easy availably of intraocular steroid injections in clinics. However, the results of intraocular steroid injections are less satisfactory than anti VEGF, and therefore will witness limited growth in diabetic market.
Diabetes, once deemed as the disease that affected only the affluent, has now reached an epidemic frontier in both developed and developing countries. With the spread of diabetes, related diseases like diabetic retinopathy are also becoming rampant, on the grounds of which diabetic retinopathy industry has been progressing significantly. In North America for instance, U.S. dominated diabetic retinopathy market in 2016, and is projected to continue this trend over 2017-2024, driven by the increased efforts of the American Diabetes Association and other organizations to reign in the spread of diabetes.
The companies operating in diabetic retinopathy market are focusing on developing new innovative products by adopting strategies such as strategic collaborations, partnerships and acquisition. For instance, Novartis acquired Encore Vision in December 2016 to strengthen its ophthalmic product portfolio. At present, several research projects are being conducted to identify exact inhibitor that leads diabetes to vision loss.
Some of the industry players operating in global diabetic retinopathy market are Allergan, Novartis, Bayer, Genentech and Regeneron Pharmaceuticals. The companies operating in diabetic retinopathy market are focusing on developing new innovative products by adopting strategies such as strategic collaborations, partnerships and acquisition. For instance, Novartis acquired Encore Vision in December 2016 to strengthen its ophthalmic product portfolio. At present, several research projects are being conducted to identify exact inhibitor that leads diabetes to vision loss.
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Chapter 1. Methodology
1.2. Market definitions
1.3. Forecast parameters
1.4. Data sources
220.127.116.11. Paid sources
18.104.22.168. Unpaid sources
Chapter 2. Executive Summary
2.1. Diabetic retinopathy industry 3600 synopsis, 2014 - 2025
2.1.1. Business trends
2.1.2. Type trends
2.1.3. Age group trends
2.1.4. Management trends
2.1.5. Distribution channel trends
2.1.6. Regional trends
Chapter 3. Diabetic Retinopathy Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2014 – 2025
3.3. Industry impact forces
3.3.1. Growth drivers
22.214.171.124. Increasing technological advancements in diabetic retinopathy surgical instruments in developed countries
126.96.36.199. Favorable reimbursement available for ophthalmologic surgeries in developed as well as developing economies
188.8.131.52. Rising prevalence of diabetes in Asia Pacific and other underdeveloped economies
184.108.40.206. Growing geriatric population in North America and Europe
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TABLE 1. Diabetic retinopathy industry 360º synopsis, 2014 – 2025
TABLE 2. Diabetic retinopathy Market size, 2014 – 2025 (USD Million)
TABLE 3. Diabetic retinopathy Market size, by type, 2014 - 2025 (USD Million)
TABLE 4. Diabetic retinopathy Market size, by management, 2014 - 2025 (USD Million)
TABLE 5. Diabetic retinopathy Market size, by age group, 2014 - 2025 (USD Million)
TABLE 6. Diabetic retinopathy Market size, by distribution channel, 2014 - 2025 (USD Million)
TABLE 7. Industry impact forces
TABLE 8. Proliferative diabetic retinopathy market size, by region, 2014 – 2025 (USD Million)
TABLE 9. Non-proliferative diabetic retinopathy market size, by region, 2014 - 2025 (USD Million)