Diabetic Retinopathy Market Size, Share & Trends Analysis Report By Type (Proliferative Diabetic Retinopathy, Non-proliferative Diabetic Retinopathy), By Treatment Type (Anti-VEGF Drug, Steroid Implants, Laser Surgeries, Vitrectomy) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

The global diabetic retinopathy market was estimated to be valued at USD 8.75 billion in 2023. It is expected to reach USD 16.22 billion by 2032, growing at a CAGR of 7.10% during the forecast period (2024–2032). The global diabetic retinopathy market growth is driven by the surging prevalence of diabetes cases worldwide, owing to factors like factors sedentary lifestyles and consumption of unhealthy food. Due to advancements in healthcare infrastructure and declining birth rates, the proportion of the geriatric population is continuously rising worldwide, boosting market expansion, as this population demographic is more prone to diabetic retinopathy. Moreover, technological advancement and innovations in diagnostic and treatment modalities are expected to create expansion opportunities for the global market.

Diabetic retinopathy is a diabetes-related illness that impacts the eyes. The condition results from harm to the blood vessels in the light-sensitive tissue located in the rear of the eye, referred to as the retina. Initially, diabetic retinopathy may be asymptomatic or only result in minor vision issues. However, in the long run, it can result in blindness. Diabetic retinopathy can occur in individuals with either type 1 or type 2 diabetes. The longer duration of diabetes and poor blood sugar control increases the likelihood of developing this eye problem.

Diabetic retinopathy can be categorized into two primary types: proliferative and non-proliferative. Regular eye examinations are essential for those with diabetes to identify diabetic retinopathy promptly and avert vision impairment. This can be treated with laser therapy, intraocular injections, and surgery for severe instances. Managing diabetes by controlling blood sugar levels, exercising regularly, and following a balanced diet will help lower the risk of diabetic retinopathy and slow down its advancement.

Highlights

• Non-proliferative diabetic retinopathy dominates the type segment
• Anti-VEGF drug dominates the treatment segment
• North America is the largest shareholder in the market

Market Dynamics

Global Diabetic Retinopathy Market Drivers:

Increasing Prevalence of Diabetes

The global incidence of diabetes is soaring as a result of factors like sedentary lifestyles, poor dietary habits, and rising rates of obesity. For instance, in 2021, the International Diabetes Federation documented a total of 537 million adults, representing approximately 1 in 10 individuals who have diabetes. The forecasted estimate is expected to surge to 644 million by 2030 and 784 million by 2045. Likewise, the absence of proper diagnosis has led to 6.7 million deaths in the year 2021. The majority of persons have type 2 diabetes.

Furthermore, the International Diabetes Federation (IDF) additionally approximates that there exists a population of 541 million adults who possess an increased susceptibility to developing type 2 diabetes. Thus, with the rising incidence of diabetes worldwide, the number of individuals at risk of developing diabetic retinopathy is also increasing. This growing patient pool drives the demand for diagnostic and treatment options for diabetic retinopathy.

Aging Population

The aging population is a prominent driver of the diabetic retinopathy market, as older individuals are more prone to age-related diseases like diabetes. With a larger proportion of the global population entering old age, there is an accompanying increase in the prevalence of diabetes and diabetic retinopathy. According to the UN, the percentage of those aged 65 years and older is flourishing more rapidly than those under 65. The worldwide population aged 65 and beyond is projected to surge from 10% in 2022 to 16% in 2050.

By 2050, the global adult population aged 65 years or older is expected to double the number of children under five years old and nearly match the number of children under 12 years old. As a result, there is a growing demand for healthcare services and products tailored to the needs of older adults, including diagnostic tools and treatment options for diabetic retinopathy, fueling market growth.

Global Diabetic Retinopathy Market Restraint:

Lack of Awareness

Lack of awareness about diabetic retinopathy poses a significant restraint in the market as it leads to delayed diagnosis and treatment. Many individuals with diabetes are unaware of the potential vision-threatening complications associated with the disease, including diabetic retinopathy. As a result, they may not prioritize regular eye screenings or seek medical attention until symptoms become severe. This lack of awareness can result in skipped opportunities for early intervention when treatments are most effective in preserving vision. Moreover, healthcare providers may also lack awareness about diabetic retinopathy, leading to underdiagnosis or misdiagnosis of the condition.

Global Diabetic Retinopathy Market Opportunities:

Technological Advancements

Advances in diagnostic imaging techniques and treatment modalities for diabetic retinopathy are improving early detection and management of the condition. Innovations like integrating diagnostic techniques with AI, ML, and cloud-based solutions have been rising to enhance the efficiency of these tests to detect the disease accurately. For instance, in January 2023, CheckEye, headquartered in Kyiv, created a cloud-based technology to identify diabetic retinopathy and seven other eye disorders within ten minutes. The test can detect issues before they impact the vision of a diabetic patient and perhaps notify doctors of potential diabetes. CheckEye can implement screenings more efficiently and rapidly with the help of this AI tool.

Furthermore, in February 2024, a study published in JAMA Ophthalmology reported that automated machine-learning models effectively predicted the likelihood of diabetic retinopathy progression by analyzing ultra-widefield retinal pictures. The machine-learning approach accurately detected all eyes with mild NPDR that advanced within one year and 85% of eyes with moderate NPDR that progressed within one year. These factors present opportunities for market expansion.

Regional Analysis

Based on region, the global diabetic retinopathy market share is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America Dominates the Global Market

North America is the most significant global diabetic retinopathy market shareholder and is expected to expand substantially during the forecast period. North America is anticipated to dominate the market because of the significant prevalence of diabetes in the region. The market is supported by the advanced healthcare infrastructure, key market players, extensive awareness regarding diabetes treatment and related conditions, and favorable government regulations. In February 2024, UnitedHealthcare Catalyst initiated a program in Owensboro that utilizes data to address the most critical health issues in the community, with a specific emphasis on type 2 diabetes. The initiative, in collaboration with Audubon Area Community Care Clinic and Girls Inc., seeks to enhance health results in the community by promoting healthy behaviors and managing patients with prediabetes and uncontrolled type 2 diabetes. Such programs are anticipated to boost the diabetic retinopathy market growth.

Furthermore, there has been an increase in the approval of novel equipment designed for diagnosing diabetic retinopathy. For instance, in June 2023, Eyenuk, a global artificial intelligence (AI) digital health company specializing in AI Eye Screening™ and AI Predictive Biomarkers™, obtained clearance from the U.S. Food and Drug Administration (FDA) to utilize the Topcon NW400 retinal camera with its EyeArt AI system for automatic detection of diabetic retinopathy (DR), in addition to the previously approved Canon CR-2 AF and Canon CR-2 Plus AF cameras. The EyeArt v2.2.0 system is the first and only AI system certified by the FDA for usage with several retinal cameras from different manufacturers. As a result, these variables are projected to enhance the expansion of the regional market.

The Asia-Pacific region is projected to be the fastest-growing market, driven by the rising incidence of genetic conditions like diabetes and heart diseases. India is also known as the "Diabetes Capital of the World" and today faces more than 101 million cases. The number is projected to increase to 125 million by 2045. Moreover, the medical facilities in this region are implementing advanced diagnostic imaging methods to improve the accuracy of disease diagnosis. For instance, in February 2024, King George's Medical University (KGMU) will achieve great progress in combating preventable blindness from diabetic retinopathy. The renowned medical institution has received a Rs 2 crore allocation from the state government to procure advanced equipment and services for treating this eye ailment.

Similarly, in October 2023, Chennai's Rajan Eye Care Hospital started a study utilizing artificial intelligence (AI) to detect glaucoma and diabetic retinopathy, specifically targeting the slum population of the city. The project was launched on World Sight Day and uses artificial intelligence for analyzing retinal images to offer early intervention and customized treatment. Consequently, all these factors are estimated to drive the regional market growth.

Segmental Analysis

The global diabetic retinopathy market is segmented by type and treatment type.

Based on type, the global diabetic retinopathy market is segmented into proliferative diabetic retinopathy and non-proliferative diabetic retinopathy. 

The non-proliferative diabetic retinopathy segment dominates the global market. Non-proliferative diabetic retinopathy (NPDR) is the initial stage of diabetic retinopathy. Its defining feature is the weakening and enlargement of blood vessels in the retina due to elevated blood sugar levels. This condition may not cause noticeable symptoms in its early phases, but individuals may experience blurred vision, fluctuating vision, or dark spots as it progresses. Moreover, NPDR can cause macular edema, where fluid accumulates in the macula, the central part of the retina responsible for sharp vision. Regular eye examinations are crucial to detect NPDR early, as prompt management can help prevent vision loss. Management strategies may include lifestyle modifications, strict blood sugar control, medications to reduce swelling, and laser treatment to seal leaking blood vessels.

Based on treatment type, the global diabetic retinopathy market is divided into anti-VEGF drugs, steroid implants, laser surgeries, and vitrectomy. 

The anti-VEGF drug segment owns the highest market share. Anti-VEGF drugs are a class of medications used to treat various eye conditions, particularly those involving abnormal blood vessel growth. VEGF, or vascular endothelial growth factor, is a protein that promotes the growth of blood vessels. In conditions like wet age-related macular degeneration, diabetic retinopathy, and macular edema, abnormal blood vessel growth can lead to vision loss.

Anti-VEGF drugs work by blocking the action of VEGF, thereby reducing the development of abnormal blood vessels and preventing further damage to the retina. These drugs are typically administered via injection into the eye and may require multiple treatments to maintain their effectiveness over time. Commonly used anti-VEGF drugs include ranibizumab, bevacizumab, and aflibercept. They have revolutionized the treatment of many eye diseases and significantly improved patient outcomes.

Impact of covid-19

The pandemic had caused a lockdown in almost all the countries across the world backed up by strict government regulations such as social distancing and quarantine. A severe effect of the lockdown was observed on the economy of various countries which further canceled certain construction projects temporarily or permanently.

Further, immediate long-term effects were seen in the supply chain and the deployment of smart solutions required in the smart buildings. However, the ease offered and the multiple benefits of the smart building solutions are anticipated to increase the deployments during the time.

Recent Developments

• August 2023- Eylea HD (aflibercept) was approved by the Food and Drug Administration (FDA) to treat individuals with wet age-related macular degeneration (wAMD), diabetic macular edema (DME), and diabetic retinopathy.
• February 2024- Ocuphire Pharma's Oral APX3330 had a clinically significant response in comparison to placebo in slowing down the progression of diabetic retinopathy in the phase 2 ZETA-1 trial.