Diabetic retinopathy exhibits a potential growth with an increasing prevalence of diabetes and increasing awareness about diabetes management. Surge in the demand for diagnostic tests for diabetic retinopathy also accelerates the growth of this market. Technological advancements in the ophthalmic surgical and diagnostic instruments will boost diabetic retinopathy market growth during forecast period. Optical coherence tomography and other technologically upgraded devices utilized in diagnosis provide superior quality cross-sectional images that allows doctor to make better decisions is fostering this market.
Surgical instruments have enhanced precision that improves the surgery success rates in the case of diabetic retinopathy market. Thus, availability of such upgraded ophthalmic devices and instruments have facilitated the diagnostic and surgical procedures that considerably impacts the industry growth. Complications and adverse reactions associated with the medications prescribed for minimizing the impact of diabetic retinopathy would hamper the growth of this market.
The market Size of diabetic retinopathy treatment is accounted as USD 7.39 billion in 2018, and growth of this market is at a CAGR of 7.3% till 2025
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Non-proliferative diabetic retinopathy segment is expected to grow by 6.6% for the forecast period. Non-proliferative is the most common reason for blindness in people suffering from diabetes. Also, non-proliferative diabetic retinopathy is less chronic as contrast to proliferative diabetic retinopathy and is more prevalent among the patients of age group between 40-60 years. Patients suffering from non-proliferative diabetic retinopathy consider several medications and treatments but could be controlled at earlier stage.
North America diabetic retinopathy market is accounted at USD 3 billion in 2018 and would have a significant growth over the forecast period. Growing prevalence of diabetes has increased the demand for surgical instruments and medications. According to CDC, around 100 million American have diabetes that is one of the major causes of blindness. Increase in awareness regarding availability of advanced options for treating diabetic retinopathy triggers the regional growth of market.
North America diabetic retinopathy market experiences has rivalry forces. For instance, Bayer AG is one of the leading companies in the U.S. that has gained majority of the market share by introducing superior quality medications for diabetic retinopathy. Therefore, new players should consider the risk of investing in competitive market.
Thus, Key players in the global market are Novartis AG (Germany), Bayer (Germany), Regeneron Pharmaceuticals Inc. (U.S.), ThromboGenics (U.S.), Actavis Plc (U.K.), Sirnaomics(U.S.), Genentech (U.S.), Alimera Sciences (U.S.), Glycadia Pharmaceuticals (U.S.), Ampio Pharmaceuticals (U.S.), Kowa Group (Japan), BCN Peptides (Spain), and others.
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