The diabetic retinopathy market is projected to experience robust growth, with an estimated compound annual growth rate (CAGR) of 5.8% from 2023 to 2033. The market was valued at approximately USD 8.82 billion in 2023, driven by the increasing prevalence of eye complications among diabetic patients.
As the global population grapples with rising diabetes rates, the demand for effective treatments for diabetic retinopathy—caused by damage to the retina due to high blood sugar levels—continues to surge. Manufacturers are anticipated to generate significant revenue, expected to reach USD 15.50 billion by 2033.
The growing incidence of complications related to diabetic retinopathy is likely to propel demand for various treatment options, including eye injections and laser therapies. These advanced treatment modalities are essential in managing and mitigating the effects of diabetic retinopathy, ultimately enhancing patient outcomes.
Regular eye examinations by healthcare professionals are becoming increasingly vital as patients maintain their medical conditions. This trend not only raises awareness but also facilitates early detection and intervention, contributing to the overall expansion of the diabetic retinopathy market during the forecast period.
This impressive expansion can be attributed to the escalating demand for diabetic retinopathy solutions to address the needs of patients with damaged eye retinas. Manufacturers in the diabetic retinopathy sector are primed to capitalize on this rising demand, anticipating a substantial revenue boost, with a forecasted target of US$ 15.50 billion by 2033.
As the diabetic retinopathy industry continues to thrive, it underscores the industry’s commitment to meeting the healthcare needs of patients and further solidifies its position as a pivotal player in the global healthcare landscape.
Crucial information and forecast statistics covered in the Diabetic Retinopathy industry report will arm both existing and emerging market players with necessary insights to craft long-term strategies as well as maintain business continuity during a crisis such as the ongoing COVID-19 pandemic.
COVID-19 Impact Analysis on Diabetic Retinopathy Industry
The recent outbreak of the COVID-19 has turned the spotlight on the healthcare industry, and subsequently impacted the Diabetic Retinopathy market. Severe shortages of critical medical supplies and a rapid rise in number of COVID-19 cases have resulted into a revolution rather than evolution in the healthcare ecosystems. Consequently, the impact is noticeable in the Diabetic Retinopathy market.
Following government’s measures, particularly social distancing norms and stay-at-home orders, doctors are delaying or postponing elective surgeries unless critical to prevent the spread of the virus to individuals with comorbidities or chronic conditions. Additionally, movement restrictions and supply chain disruptions have created a logistical nightmare for market players, leading to severe product shortages in the global marketplace.
The FMI’s report includes an interesting chapter on preliminary impact of the COVID-19 on the Diabetic Retinopathy industry. This allows both leading and emerging market players to understand the market scenario during a crisis and aids them in making sound decisions to gain a distinct competitive edge.
Diabetic Retinopathy Industry: Segmentation
Valuable information covered in the FMI’s Diabetic Retinopathy industry report has been segregated into key segments and sub-segments.
By Type:
- Proliferative
- Non-proliferative
By Management:
- Anti VEGF
- Intraocular Steroid Injection
- Laser Surgery
- Vitrectomy
Diabetic Retinopathy Industry: Competition Analysis
The FMI’s study presents a comprehensive analysis of global, regional, and country-level players active in the Diabetic Retinopathy market. Competitive information detailed in the Diabetic Retinopathy market report has been based on innovative product launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation of each market player. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Diabetic Retinopathy industry report.
Key players covered in the report include:
Bayer Healthcare, Novartis AG, Regeneron Pharmaceuticals Inc., Allergan plc, Oxurion, and others
Important Questions Answered in the Diabetic Retinopathy Industry Report
- Which end user remains the top revenue contributor in different regional markets?
- At what rate has the global Diabetic Retinopathy industry been expanding during the forecast period?
- How will the global Diabetic Retinopathy market look like by the end of the forecast period?
- What innovative strategies are adopted by Diabetic Retinopathy industry players to stay ahead of the pack?
- What are the restraints affecting the growth of the global Diabetic Retinopathy market?
Key Offerings of the Report
- Growth Drivers and Opportunities: Comprehensive analysis on growth-driving factors and opportunities for market players in different regional markets
- Recent Trends and Forecasts: Detailed assessment on the latest trends, technological developments, and forecasts for a 5-year or 10-year period.
- Segmental Analysis: Extensive analysis on each segment and factors differentiating the role of these segments in market revenue forecasts and growth rate analysis
- Regional Market Forecast: Thorough analysis of each regional market to arm stakeholders with necessary information to take critical decisions
- Competitive Landscape: All-inclusive insights on both leading and emerging players vying for a slice of the Diabetic Retinopathy industry
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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