Global Diabetic Retinopathy Market is expected to reach USD 10.11 billion by 2022, according to a new study by Grand View Research Inc. Diabetic retinopathy is considered as a serious sight threatening complication that results due to long term diabetes. The treatment line selection for diabetic retinopathy depends on the severity of the condition and may require intraocular injections, anti VEGF drugs, laser surgery or vitrectomy. Increasing incidences of diabetes, rising geriatric population base and the growing demand for early detection are some high impact rendering drivers of the diabetic retinopathy market. Furthermore, improving healthcare infrastructure, rising demand for cost-effective and safe treatment and rising focus of market players on emerging nations such as India and China are also anticipated to propel market growth. Presence of supportive government initiatives such as the Queen Elizabeth Diamond Jubilee Trust, which is taking initiatives for increasing patient awareness levels in order to promote regular retinal screening and early laser surgery to prevent permanent visual impairment and Ophthalmic Society of South Africa which works towards the improvement of reimbursement policies are anticipated to fuel the growth of the diabetic retinopathy market over the forecast period.
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Further key findings from the study suggest:
- Anti VEGF is identified as the most attractive sub segment of the diabetic retinopathy market, growing at a rate of over 6.0% over the forecast period owing to, the rising incidences of diabetes and high efficacy rates
- The non proliferative diabetic retinopathy segment accounted for the largest market share in 2014. The growing geriatric population and rising incidences of blindness caused due to diabetes are some key factors accounting for its large share. Furthermore, the increasing demand for regular retinal screening for long time diabetic patients is also expected to boost segment growth.
- The North American diabetic retinopathy market accounted for over 35.0% of the revenue in 2014 on account of, the presence of high diagnostic and therapeutic rates in the U.S. The rising patient awareness levels and the presence of favorable government initiatives encouraging regular retinal screening is expected to drive regional market growth.
- The Asia Pacific diabetic retinopathy market is likely to witness lucrative growth over the forecast period due to, the presence of unmet needs in the developing economies such as China and India. Presence of favorable government initiatives to enhance retinal screening rates and improving healthcare infrastructure are also expected to contribute towards rapid market growth.
- Some key players of the diabetic retinopathy market include Bayer Healthcare, Novartis AG, ThromboGenics, Regeneron Pharmaceuticals Inc., Actavis Plc, Alimera Sciences, BCN Peptides and Kowa Group