Diabetic Retinopathy Market size was evaluated at $6.51 billion for 2015 and CAGR of 6.9% was predicted during forecast period. Growing old age population, increasing occurrence of diabetes, fast rise in cases of blindness and rising consciousness about early identification of diabetic retinopathy are the few factors driving the industry expansion.
Diabetic retinopathy is an eye disorder that causes damage to the retina blood vessels. It is a common diabetic condition affecting eyes. Persons suffering from diabetes are at greater risk of developing diabetic retinopathy. The condition is mainly caused by high levels of glucose in blood producing changes in eye blood vessels. Retinopathy treatment depends upon ailment phase and is aimed at blocking its growth. Corticosteroids injections, vitrectomy and laser surgery are few of the available ailment treatments.
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Screening of retina and line of treatment depends upon the seriousness of the situation ensuring delivery of proper treatment. Diabetes is considered to be main cause of blindness in people. To avoid blindness, people are demanding methods for early identification of ailment, fuelling diabetic retinopathy market trends. Also, old age population is more prone for contracting the ailment and hence promotes the industry growth.
Further, technological breakthroughs in retinal screening methods and equipments like utilization of slit lamps and launching of new products like Gly-230 & Optima are the factors predicted to drive the industry expansion. Growing occurrence of diabetes predicted to affect more than 4.6% of world population will also enhance the industry growth.
Different types of diabetic retinopathy are non-proliferative and proliferative. Non-proliferative retinopathy led the industry by contributing more than $4.6 billion in 2015. Growing diabetes occurrence, non-compliant retinal screening of patients and lack of right time diagnosis are factors predicted to fuel the increase in the industry share of non-proliferative retinopathy.
Proliferative retinopathy is predicted to register highest CAGR of 7.5% during forecast timeframe. Rising occurrence of diabetes and increasing amount of old age population predicted to enter proliferative retinopathy phase will fuel the industry demand.
Various treatments in diabetic retinopathy are anti-VEGF therapy, laser surgery, vitrectomy and intraocular steroid injection. Anti-VEGF contributed large portion of the industry share in 2015 due to popular utilization of these medicines in treating the ailment and helping patients to recover quickly.
But, laser surgery is predicted to register CAGR of 9.4% during the forecast period which is highest among segments. Demand for laser surgery will grow enormously in future owing to increase in aging population and growing occurrence of diabetes all across the world.
North America is predicted to contribute maximum revenue share in access of $4 billion by end of forecast timeframe. Growing access to anti-VEGF items like lucentis, eyelea and avastin along with growing consciousness for early diagnosis to avoid further blindness related with diabetes are the factors predicted to drive the industry demand in the region.
In 2012, rate of occurrence of diabetic retinopathy in U.S. was predicted to be 5.41% as per Prevent Blindness America with Arizona, New Mexico, Florida, California, Texas and New York having greatest density. In addition to this, favorable regulations, good healthcare facilities and fully grown healthcare infrastructure along with rapid access to different kinds of treatments are few of the key factors driving the industry growth in North America. Further, the old age population base of the region was measured nearly about 67.61 million for 2012 and predicted to touch approximately 81.61 million in 2022. This is also one of the key aspects contributing towards industry dominance by the region.
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MEA and Latin America are predicted to register CAGR of 10.2% and 7.2% respectively and display a good industry growth during forecast timeframe. Favorable government policies and medical guidance are predicted to enhance the rate of detection and treatment propelling diabetic retinopathy market growth in these regions.
Growing cases of diabetes mellitus and lack of skilled ophthalmologists are few of the factors contributing to the industry growth in Brazil.
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