Diabetic Retinopathy Drug Market Size

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.

Frequently Asked Questions (FAQ)

Rising occurrence of diabetes and growing technological advancements for retinopathy treatment to fuel market growth.

The market is anticipated to attain a noteworthy CAGR over the forecast period, i.e., 2021 â€“ 2029.

Lack of skilled ophthalmologists in lower income economies is estimated to hamper the market growth.

Asia Pacific is estimated to provide more market growth opportunities on the back of increasing target patient pool and growing elderly population in the region.

The major players in the market are Pfizer Inc. Bayer AG, Abbott Laboratories, Novartis AG, and others.

Diabetic Retinopathy Drug Market Size