Diabetic Retinopathy Market Expected to Reach $10,785.50 Million by 2030

According to a new report published by Allied Market Research, titled, “Diabetic Retinopathy Market by Type, Treatment Type: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global diabetic retinopathy market size was valued at $3,086.00 million in 2020, and is projected to reach $10,785.50 million by 2030, registering a CAGR of 13.7% from 2021 to 2030.

Diabetic retinopathy (DR) is a medical condition of the eye prevalent in diabetic individuals. It is mainly caused due to damage of the blood vessels of the retina. Without timely treatment, the disease leads to bleeding in the eyes, cloudy vision, and may even destroy the retina. DR is among the common cause of loss of vision in the diabetic population. DR is among the most common causes of preventable blindness and severe visual impairment.

The market is expected to witness significant growth during the forecast period due to factors such as increase in prevalence of diabetes, growth in geriatric population, rise in incidence of blindness owing to diabetes, and augment in focus on awareness, which facilitate early diagnosis to control the disease. Although these factors garner the growth of the market, dearth of skilled ophthalmologists and extended approval time for drugs can pose as a major obstacle for the growth of the diabetic retinopathy market. On the other hand, emergence of combined therapies for treatment of diabetic macular edema, and the emerging markets of Asia-Pacific and LAMEA are anticipated to provide several opportunities for the market growth.

Proliferative diabetic retinopathy disease is one of the leading causes of blindness in diabetic patients. Moreover, nearly 20% of the people suffering from diabetic retinopathy (any type) have proliferative diabetic retinopathy.

The diabetic retinopathy market is segmented on the basis of type, treatment type, and region. On the basis of type, the market is divided by proliferative diabetic retinopathy and diabetic macular edema (DME). On the basis of type, the proliferative diabetic retinopathy segment currently dominates the global diabetic retinopathy market and is expected to continue during the forecast period owing to increasing prevalence of the medical condition worldwide. Globally, in 2017, among adults aged 45 and over with diagnosed diabetes, 32.2% had cataracts, 8.6% had diabetic retinopathy, 7.1% had glaucoma, and 4.3% had macular degeneration. This can serve as a major opportunity for manufacturers to capitalize and expand their market share.

On the basis of treatment type, the market is classified into anti VEGF drug, steroid implants, laser surgeries, and vitrectomy. The laser surgeries segment dominated the global diabetic retinopathy market in 2020 and is anticipated to be dominant in the market. Since this treatment type has been available in the market for a long period, there is high acceptance and familiarity with the procedure. Thus, laser surgeries serve to be the lucrative investment pocket.

North America accounted for a majority of the global diabetic retinopathy market share in 2020 owing to high prevalence of DR in this region, coupled with well-established infrastructure and increasing initiatives by the government to create awareness that would help people undergo screening for DR. However, Asia-Pacific is expected to witness considerable market growth during the forecast period, due to high population base, high disposable incomes, and improvement in patient awareness about the treatment of diabetic retinopathy.

Key Findings Of Study

• By type, the proliferative diabetic retinopathy segment currently dominates the global diabetic retinopathy market and is expected to continue during the forecast period owing to increasing prevalence of the medical condition worldwide. Globally, in 2017, among adults aged 45 and over with diagnosed diabetes, 32.2% had cataracts, 8.6% had diabetic retinopathy, 7.1% had glaucoma, and 4.3% had macular degeneration. This can serve as a major opportunity for manufacturers to capitalize and expand their market share.
• By treatment type, the laser surgeries segment dominated the global diabetic retinopathy market in 2020 and is anticipated to be dominant in the market. Since this treatment type has been available in the market for a long period, there is high acceptance and familiarity with the procedure. Thus, laser surgeries serve to be the lucrative investment pocket.
• On the basis of region, in 2020, North America dominated the market in 2020, owing to high prevalence of DR in this region, coupled with well-established infrastructure and increasing initiatives by the government to create awareness that would help people undergo screening for DR. However, Asia-Pacific is expected to witness considerable diabetic retinopathy market growth during the forecast period, due to high population base, high disposable incomes, and improvement in patient awareness about the treatment of diabetic retinopathy.