Diabetic Retinopathy Market size was over USD 8.91 billion in 2023 and is projected to cross USD 20.2 billion by the end of 2036, growing at more than 6.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of diabetic retinopathy is estimated at USD 9.37 billion.
The growth of the market can be attributed to the rising prevalence of type 1 and type 2 diabetes, growing technological advancements in terms of developing effective retinopathy treatment and increasing geriatric population around the globe. According to the World Health Organization (WHO), 422 million people worldwide are suffering from diabetes. Along with these, availability of favorable health insurance policies for ophthalmologic surgeries in developed nations is also a significant factor expected to drive market growth in the coming years. Furthermore, growing adoption of minimal pain-inducing laser procedures is projected to offer lucrative opportunities to the market during the forecast period.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
6.5% |
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Base Year Market Size (2023) |
USD 8.91 billion |
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Forecast Year Market Size (2036) |
USD 20.2 billion |
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Regional Scope |
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The market is bifurcated by condition type into proliferative and non-proliferative DR, out of which, the non-proliferative DR segment is anticipated to hold the largest share in the diabetic retinopathy market on account of the commonness of this disorder and the abundant presence of medical resources required to control this condition at an early stage. However, the segment for proliferative DR is assessed to grow at a higher rate owing to the increasing population reaching the advanced stages of retinopathy. Additionally, on the basis of treatment, the anti-VEGF therapy acquired a substantial market share in the recent years and is evaluated to continue this trend over the forecast period. This can be credited to the high usage of anti-VEGF drugs in treating mild to moderate cases of non-proliferative DR, and rapid recovery rates.
Our in-depth analysis of the global market includes the following segments
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By Condition Type |
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By Treatment |
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By End User
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North America Market Statistics
Regionally, the diabetic retinopathy market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. North America industry is estimated to hold largest revenue share by 2036, driven by supportive reimbursement policies covering treatment costs, sophisticated healthcare infrastructure, and allocation of substantial healthcare expenditure by government. In addition to this, Europe is the second largest shareholder in the market attributing to the increasing obese population in the region, who are prone to diabetes and other related vision disorders. It is calculated that around 3-4% of Europeans are diagnosed with diabetic retinopathy every year.
APAC Market Analysis
Moreover, the market in Asia Pacific is predicted to witness a notable growth during the forecast period as a result of a huge patient pool, growing elderly populace and the rise in innovations for treatment of diabetic retinopathy. The growth of the market in this region is expected to be steered majorly by nations such as China and Japan owing to the escalating per capita income and significant developments in the medical sector.
Author Credits: Radhika Pawar
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