The global market for devices used in the treatment of diabetic retinopathy is expected to experience significant growth, reaching a value of approximately USD 12.47 billion by 2022.
Projections indicate a strong compound annual growth rate (CAGR) of around 30% through 2030, driven primarily by the increasing incidence of diabetes and the growing elderly population.
Diabetic retinopathy is a serious complication associated with diabetes that can lead to vision loss. The prevalence of this condition is alarming, with an estimated 9.6 million individuals affected in the United States alone as of 2021, including approximately 1.84 million with vision-threatening forms of the disease.
Factors such as hypertension, elevated cholesterol, smoking, and family history contribute to the increasing cases of diabetes, thereby driving the growth of the diabetic retinopathy market.
Key drivers of this market include the rise in diabetes cases globally, particularly in regions with large populations such as Asia-Pacific, and the aging population, as older adults are more susceptible to diabetes and its complications.
Advancements in treatment options, including the development of new drugs and technologies, are also contributing to market growth.
Non-proliferative diabetic retinopathy, characterized by damage to the small blood vessels in the retina, is expected to hold the largest share in the market.
The treatment segment, which includes anti-VEGF drugs and laser therapy, is gaining traction due to ongoing clinical trials and research.
The Asia-Pacific region is anticipated to experience the highest growth rate in the diabetic retinopathy market, driven by the burgeoning pharmaceutical industry and the increasing prevalence of the disease.
China and India, with the highest number of diabetics globally, are at the forefront of this growth.
Major pharmaceutical companies such as F. Hoffmann-La Roche Ltd, Novartis AG, Regeneron Pharmaceuticals Inc, and Bayer AG are key players in the market, actively engaging in mergers, acquisitions, and partnerships to enhance their product offerings and technological capabilities.
The industry is focused on research and development to meet the needs of patients and healthcare providers, paving the way for advancements in diabetic retinopathy treatment and management.