Diabetic retinopathy (DR) is a disorder of the eye that damages the blood vessels of retina. It is a common diabetic complication affecting the eyes. Retina is a light sensitive thin layer at the inner surface of the eye. Images are formed in the retina. People suffering diabetes from the past many years are at a higher risk of developing diabetic retinopathy.
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This condition is primarily caused by high blood glucose levels causing changes in the blood vessels of eyes. The treatment for retinopathy depends on the stage of the disease and is directed towards stopping the progression of the same. Vitrectomy, laser surgery and corticosteroids injections are the common treatments available.
The screening of the retina and selection of treatment line depending on the severity of the condition go a long way in ensuring that proper treatment is delivered. The growing global geriatric population is projected to improve the sales of the market. This population is more susceptible to contracting diabetic retinopathy and hence drives the market.
In 2014, the diabetic retinopathy market was valued at more than USD 5,000 million. It is likely to grow at a CAGR of over 6 percent in the next few years. The growing incidences of diabetic blindness would also propel the growth of the market in the next few years.
The various types in the diabetic retinopathy market comprise proliferative and non proliferative. The sector of proliferative diabetic retinopathy is likely to expand in the coming years. In 2014, non- proliferative held the largest share. This was due to several patients in the range of ‘less than 10 years of illness history.’
Increasing diabetes cases, non-compliant retinal screening and lack of precise diagnosis are steering the growth of the non-proliferative diabetic retinopathy sector. The boosting utilization of drugs to treat moderate proliferation with fewer complications has accounted for the high revenue of this sector.
Different treatments in the diabetic retinopathy market include vitrectomy, anti- VEGF treatment, laser surgery and intraocular steroid injection. The anti-VEGF treatment sector is likely to capture the highest share in the next few years. This is due to the faster recovery and better treatment options offered by this sector.
In 2014, the North American diabetic retinopathy market held the largest share. This was due to supportive reimbursement services, accelerated demand for early detection of diabetic retinopathy and rising diabetes incidences in the region. The developing nations of Asia Pacific such as India and China are likely to witness substantial growth over the forecast period.
This is owing to diagnostic innovations, amplified geriatric population, burgeoning research fundings and rising disposable incomes. The increasing market penetration of products such as anti-VEGF drugs involving Eylea, Lucentis and Avastion is a key factor adding revenue to the global market.
The key players in the diabetic retinopathy market are Alimera Sciences, Actavis Plc, Bayer Healthcare, Novartis AG, BCN Peptitides and Thrombogenics. The remaining ones include Kowa Group, Sirnaomics, Regeneron Pharmaceuticals Inc, Almira Sciences and Amoio Pharmaceuticals.
Due to large number of participants, the diabetic retinopathy market is highly consolidated and competitive. Leading participants are adopting various business strategies to ensure new product developments.
Information Source: Grand View Research