DUBLIN--(BUSINESS WIRE)--The "Global Diabetic Retinopathy Market Size, Share & Industry Trends Analysis Report By Type, By Treatment Type, By Regional Outlook and Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The Global Diabetic Retinopathy Market size is expected to reach $7.7 billion by 2027, rising at a market growth of 11.3% CAGR during the forecast period.
Diabetic retinopathy is a critical medical disorder that affects the eyes as a result of diabetes or inefficient insulin level in the blood of the patient. Impairment to blood vessels of the light-sensitive tissue of the retina is the main cause of diabetic retinopathy. In addition, blurred vision, dark or empty spots in the vision, fluctuating vision, poor color identification, and vision loss are the most typical symptoms of this disorder.
A high sugar level in the blood causes blockage of the retina's small blood capillaries, impeding blood flow. Advanced cases of diabetic retinopathy require laser therapy or surgical operations. Mild-to-moderate instances of diabetic retinopathy can be cured with appropriate diabetes management.
Diabetic retinopathy may cause no symptoms or just minor vision abnormalities in the initial stages, however, it can result in blindness in advance stages. Anyone with type 1 or type 2 diabetes can develop the illness. The longer a person has diabetes, the more likely they are to develop ocular complications due to poorly regulated blood sugar levels. Diabetic retinopathy can progress to diabetic retinal detachment, macular edema, and neovascular glaucoma, among other serious eye disorders.
Diabetic retinopathy can also mutate to proliferative diabetic retinopathy, which is a more severe form of the disorder. Affected blood vessels close off in this type, leading the retina to develop new, dysfunctional blood vessels. These new blood vessels are fragile, and they may leak into the clear, jellylike fluid that fills the center of the eye of the patient.
Non-proliferative diabetic retinopathy, NPDR, is a kind of diabetic retinopathy in which symptoms are minimal or absent. New blood vessels are weakened or stop forming in this more prevalent form of diabetic retinopathy. The membranes of the blood vessels in the retina deteriorate when a patient suffers NPDR. Small bulges emerge from the smaller vessels' walls, occasionally blood and seeping fluid into the retina. Larger retinal vessels may also begin to dilate and their size becomes irregular.
Market driving Factors:
Rising number of diabetic patients
Diabetes is considered as the major origin of diabetic retinopathy. Therefore, an increase in the number of patients that are suffering from diabetes is expected to directly increase the demand for diabetic retinopathy treatments. In addition, there is a significant rise in the number of patients with diabetes, due to which, the requirement of diabetic retinopathy treatment is continuously increasing.
There is a significant number of people that are concerned about the damage that can be caused to their eyes by the occurrence of the diabetic retinopathy. The diabetic retinopathy market is expected to grow due to an increase in diabetes prevalence around the world. According to the National Center for Biotechnology Information, Diabetic retinopathy affected 126 million people in 2010, and it is expected to affect more than 191 million people by 2030.
Increasing geriatric population all over the world
Instances of the diabetic retinopathy are more common in geriatric people. The prevalence of this disorder is found to be more robust in people that are aging above 60.
Moreover, the number of elderly people is becoming significant and accounts for a substantial share of the population in nearly every country, affecting several aspects of society, including financial markets and labor, demand for goods and services, like housing, transportation, as well as social protection, along with family structures and intergenerational ties.
According to the United Nations Organization, the population of elderly people all over the world is expected to become more than double throughout the next three decades, reaching 1.5 billion by 2050.
Marketing Restraining Factor:
Lack of healthcare facilities in developing and under-developed economies
People residing in poor countries have lesser access to healthcare facilities than wealthy people, while the poor people have lesser access to healthcare services inside their own countries. In contrast, poor people in low- and Middle-income countries, or LMICs, are continuously disadvantaged in several aspects of access as well as their determinants.
Moreover, the healthcare sector in the least developed countries is poorly underfunded, and a vast majority of these countries are unable to provide basic and fundamental healthcare services to their citizens. This problem is most prevalent in under-developed and developing countries, where government's investments on public security is increasing at the cost of healthcare expenditure.
Scope of the Study
Market Segments Covered in the Report:
By Type
- Proliferative
- Diabetic Macular Edema (DME)
By Treatment Type
- Anti VEGF Drug
- Steroid Implants
- Laser Surgeries
- Vitrectomy
By Geography
- North America
- Europe
- Asia Pacific
- LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Allergan PLC (Abbvie, Inc.)
- Bayer AG
- Alimera Sciences, Inc.
- Novartis AG
- Pfizer, Inc.
- F-Hoffmann-La Roche Ltd.
- Ampio Pharmaceuticals-us
- KOWA CO., LTD.
- Regeneron Pharmaceuticals, Inc.
- Bausch Health Companies, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/xf7xey
