Global Diabetic Retinopathy Market Report provides Company and Distribution Shares & Market Outlook to 2025
According to a new report published by Reports Monitor titled, “Global Diabetic Retinopathy Market ” the global diabetic retinopathy market was valued at XX million in 2018, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Diabetic Retinopathy is the eye disease caused by diabetes. According to the reports of WHO there are approximately 422 million adults presently who are suffering from diabetes. Amongst these every year 1.6 million deaths are directly attributed to this disease. Diabetic retinopathy is considered as a serious vision threatening dilemma that results owing to the long term diabetes. It is a disorder, causing progressive damage to the retina thus, affecting the retinal circulatory system. Diabetic Retinopathy holds the 5th position among the most common causes of preventable blindness and severe visual impairment. Department of Assistive and Rehabilitative Services (DARS), Texas, reported approximately 78.0% cases of diabetic retinopathy in 2013 that may eventually lead to blindness or vision loss.
The global diabetic retinopathy market due to increase in prevalence of diabetes, rising count of diabetes population, increase in incidence of vision damage due to diabetes, and progression on awareness, which facilitates early treatment to control and cure the diseases are the major drivers towards the market growth. However, lack of skilled ophthalmologists and the extended approval time for drugs can be a hindrance in the growth of the market.
The rising government spending on the healthcare infrastructure can further drive the market in the near future.
The market is bifurcated on the basis of product type which include Proliferative Diabetic Retinopathy, Diabetic Macular Edema (DME).
Furthermore, it is segmented by the treatment type such as Anti VEGF Drug, Steroid Implants, Laser Surgeries, Vitrectomy.
The global diabetic retinopathy market is geographically divided in North America, Europe, APAC and LAMEA. North America region accounted for the largest share owing to the supportive reimbursement policies by the government and progression of diabetes. High penetration of Avastin, Eylea and Lucentis market is one of the major factor contributing to the large regional share in North America. Europe also commands the prominent share in the diabetic retinopathy market. The expanding healthcare infrastructure along with favorable reimbursement policies especially in Eastern Europe would drive the market growth. The developing countries such as India, Japan, and China in Asia Pacific may a witness lucrative growth due to increase in geriatric population and expanding research funding and investments for diabetes.
The major key vendors of the global diabetic retinopathy market are Novartis AG, Bayer Healthcare, Regeneron Pharmaceuticals Inc., ThromboGenics, Actavis Plc, Sirnaomics, Genentech, Glycadia Pharmaceuticals and EyePACS.
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