Diabetic Retinopathy Market is expected to reach USD 12.68 billion by 2029

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In recent years, the diabetic retinopathy market is anticipated to grow rapidly during the forecast period. Diabetic retinopathy (DR) is the most common cause of visual loss worldwide. The duration of hyperglycemia, diabetes and hypertension are the most clinically important risk factors for vision loss progression. Controlling blood sugar and blood pressure has been demonstrated to help prevent vision loss due to diabetic retinopathy. According to the International Diabetes Federation (IDF), the global prevalence of diabetes mellitus (DM) was around 27% from 2015 to 2019. The lowest rates were found in Europe (20.6%) and Southeast Asia (12.5%), while the most significant rates were found in Africa (33.8%), the Middle East and North Africa (33.8%), and the Western Pacific region (36.2%).

• Data Bridge Market Research analyses that the diabetic retinopathy market was valued at USD 6.60 billion in 2021 and is expected to reach USD 12.68 billion by 2029, registering a CAGR of 8.50% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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Diabetes mellitus damages the blood vessels in the retina, resulting in diabetic retinopathy (DR). There are two types of diabetic retinopathy: non-proliferative and proliferative or progressed diabetic retinopathy. It is caused by changes in blood glucose levels, which cause abnormal growth of the light-sensitive structures in the eye. Dark patches or floating strings in the vision field, hazy or fluctuating vision, decreased colour vision, or vision loss are all symptoms of diabetic retinopathy.

Drivers

• Increasing prevalence of diabetes

The rising prevalence of diabetes is a primary driver of the diabetic retinopathy market’s growth. Along with this, the rising cases of blindness due to diabetes will further influence the market dynamics during the forecast period.

• Increasing investment for healthcare infrastructure

Another significant factor influencing the growth rate of diabetic retinopathy market is the rising healthcare expenditure which helps in improving its infrastructure.

Furthermore, rising initiatives by public and private organizations to spread awareness will expand the diabetic retinopathy market. Additionally, high disposable income and favourable reimbursement scenario will result in the expansion of diabetic retinopathy market. Along with this, rising geriatric population and continuously changing lifestyle will enhance the market’s growth rate.

Opportunities

• Increase in the number of research and development activities       

Moreover, the market’s growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the diabetic retinopathy market growth. Along with this, rising approvals and launches of new diabetic retinopathy drugs will further propel the ‘market’s growth rate.

Moreover, rising investment for the development of advanced technologies and increase in the number of emerging markets will further provide beneficial opportunities for the diabetic retinopathy market growth during the forecast period.

Restraints/Challenges Global Diabetic Retinopathy Market

On the other hand, the high cost associated with the treatment of diabetic retinopathy will obstruct the growth rate of market. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the diabetic retinopathy market. Additionally, a decline in clinical visits due to COVID-19 outbreak and post-surgical complications will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.

This diabetic retinopathy market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the diabetic retinopathy market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

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Diabetic Retinopathy Market Scope

The diabetic retinopathy market is segmented on the basis of type, treatment, diagnosis, route of administration, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Non-Proliferative Diabetic Retinopathy
• Proliferative Diabetic Retinopathy

Type segment for the diabetic retinopathy market is categorized into non-proliferative diabetic retinopathy and proliferative diabetic retinopathy.

Treatment

• Medication
• Device
• Surgery
• Others

Based on treatment, the diabetic retinopathy market is segmented into medication, device, surgery and others. The medication section is further categorized into anti-vascular endothelial growth factor drug, intravitreal steroid, lipid lowering drugs and others. The device section has been sub-segmented into focal laser, vitrectomy devices, scatter laser and others.

Diagnosis

• Fluorescein Angiography
• Optical Coherence Tomography
• Others

Based on diagnosis, the diabetic retinopathy market is segmented into fluorescein angiography, optical coherence tomography and others.

Route of Administration

• Oral
• Intravitreal Injections
• Intravitreal Implants
• Others

The route of administration segment for global diabetic retinopathy market is segmented into oral, intravitreal injections, intravitreal implants and others.

End-Users

• Hospitals
• Specialty Clinics
• Homecare
• Others

On the basis of end-users, the diabetic retinopathy market is segmented into hospitals, specialty clinics, homecare and others.

Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
• Others

On the basis of distribution channel, the diabetic retinopathy market has also been segmented into hospital pharmacy, retail pharmacy, online pharmacy and others.

Recent Development

• In August 2020, Eyenuk had announced the U.S. Food and Drug Administration (FDA) approval for EyeArt Autonomous AI System for diabetic retinopathy screening. EyeArt is designed to help healthcare providers detect more than moderate diabetic retinopathy (mtmDR) and vision-threatening diabetic retinopathy (vtDR) in the eyes of adults with diabetes who have never been diagnosed with more than mild diabetic retinopathy.

Key Advantages of the Report: 

• This study provides an analytical overview of the industry, including current trends and future predictions to identify potential investment opportunities.
• The report offers insights into key drivers, limitations, and prospects, along with a comprehensive market share analysis.
• The report quantitatively assesses the current market, shedding light on its growth prospects.
• A Porter’s five forces analysis gauges the bargaining power of buyers and suppliers in the market.
• The report delivers an in-depth market analysis that considers competitive dynamics and forecasts the future competitive landscape.

 For the detailed report, which encompasses the full table of contents, tables, figures, graphs, and charts, please follow this link:  https://www.databridgemarketresearch.com/toc/?dbmr=global-diabetic-retinopathy-market&Shri

Some of the major players operating in the diabetic retinopathy market are:

• LEO Pharma A/S (Denmark)
• Amneal Pharmaceuticals LLC. (US)
• Glenmark Pharmaceuticals Limited (India)
• Dr. ‘Reddy’s Laboratories Ltd. (India)
• AstraZeneca (UK)
• Johnson & Johnson Private Limited (US)
• Bausch Health Companies Inc. (Canada)
• Eli Lilly and Company (US)
• AbbVie Inc. (US)
• Abbott (US)
• F. Hoffmann-La Roche Ltd. (Switzerland)
• Mylan N.V. (US)
• Teva Pharmaceutical Industries Ltd. (Israel)
• Sanofi (France)
• Novartis AG (Switzerland)
• Sun Pharmaceutical Industries Ltd. (India)
• Aurobindo Pharma (India)
• Lupin (India)
• Allergan (Ireland)
• Merck & Co., Inc. (US)
• IRIDEX Corporation (US)
• Pfizer Inc. (US)
• GlaxoSmithKline plc (UK)

What to Anticipate from the Report – A 7-Point Guide:

• The report delves into the holistic strategy and innovation within the market ecosystem.
• It highlights prominent market drivers and obstacles, providing clarity on technological standardization and regulatory frameworks.
• The report evaluates various implementation models and examines numerous use cases.
• Serving as a valuable resource, the report offers essential industry insights, showcasing information on new investments, stakeholders, relevant contributors, and market participants.
• Through the forecast period, the report conducts a thorough market analysis, referencing historical developments, ongoing events, and future growth prospects.

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