Diabetic retinopathy affects eyes and damages blood vessels of light-sensitive tissue at the back of the eye. According to the National Eye Institute, in 2014, approximately 7.7 million people suffered from diabetic retinopathy across the globe. Increasing prevalence of diabetic retinopathy across the globe is accelerating demand for diabetic retinopathy. According to the International Diabetes Federation (IDF), in 2015, approximately 415 million people suffered from diabetes globally, with 90% cases of type 2 diabetes representing 8.3% of the adult population. In addition, research & development initiatives, technological advancements, and improved healthcare facilities are expected to propel market growth. Changing lifestyle and increasing consumption of fast food are resulting in the high prevalence of obesity, which in turn is increasing the prevalence of diabetes.
The global diabetic retinopathy market accounted for over USD 6,810 million in 2017 and is expected to grow at a CAGR of 8.7% during the forecast period, 2019–2026.
The global diabetic retinopathy market can be segmented by type and treatment type.
On the basis of type, the market can be segmented into proliferative diabetic retinopathy and diabetic macular edema (DME). The non-proliferative diabetic retinopathy (NPDR) segment is expected to hold a major market share, owing to high prevalence among patients within the bracket of less than 10 years of diabetic history.
Based on the treatment type, the market can be segmented into anti-VEGF drug, steroid implants, laser surgeries and vitrectomy. The anti-VEGF segment is expected to hold a major market share, owing to the high applicability of these drugs in the treatment of early diagnosis cases to facilitate rapid recovery.
Geographically, the global diabetic retinopathy market can be segmented into North America, Europe, Asia-pacific, and LAMEA.
North America is expected to hold a major market share due to the high prevalence of diabetes in the region. Obesity is a leading factor driving the prevalence of diabetes and in turn, growth of the diabetic retinopathy market. According to the Center for Disease Control and Prevention (CDC), in 2014, approximately 100 million among the U.S population had diabetes.
Europe is expected to hold a significant share of the diabetic retinopathy market, owing to the increasing prevalence of diabetes diseases, which in turn can be attributed to increasing environmental pollution and genetic disorders. According to the British Diabetic Association, in 2017, approximately 3.1 million people suffered from diabetes in the U.K. Apart from this, increasing government support to the diabetic patients by launching favorable reimbursement policies is also supporting market growth.
Asia Pacific is pegged to be the fastest growing market, due to the increasing prevalence of genetic diseases such as diabetics, and heart diseases. Additionally, government initiatives increasing awareness regarding diabetes are also expected to support market growth. For instance, government schemes such as Ayushman Bharat-National Health Protection Mission, and Indradhanus for chronic diseases are expected to drive market growth in India.
Latin America is expected to grow at a steady pace despite slow economic growth, backed by a growing healthcare sector. The Middle East & Africa region holds the least market share due to poor healthcare infrastructure, and limited availability of funds in Africa.
Some of the major players in the diabetic retinopathy market include F. Hoffmann-La Roche Ltd., Novartis AG., Pfizer, Inc., Bayer AG, Isis Pharmaceuticals, Inc., Valeant Pharmaceuticals, Inc., Regeneron Pharmaceuticals, Inc, Abbott Laboratories, Inc. and Allergan Inc.,