Market Overview

Diabetic Retinopathy Market will register remarkable 6.5% CAGR to cross $11 billion by 2024

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Diabetic Retinopathy Market will register remarkable 6.5% CAGR to cross $11 billion by 2024

U.S. dominated North America diabetic retinopathy market in 2016 propelled by growing incidences of irreversible blindness and rising adoption of unhealthy diet and sedentary lifestyle.

PR Newswire

SELLBYVILLE, Del., July 24, 2018 /PRNewswire-iReach/ -- Global Diabetic Retinopathy Market revenue is poised to beat USD 11 billion by 2024; according to a new research report by Global Market Insights, Inc. Rising prevalence of diabetes coupled with increasing geriatric population worldwide will drive diabetic retinopathy market over the forecast timeframe. Increasing R&D efforts to develop efficient and affordable solutions to treat diabetic retinopathy as well as growing awareness about diabetes associated vision loss will fuel market growth.

Technological advancements in eye disease diagnosis pre-occurrence of blindness coupled with rising adoption of unhealthy diet and sedentary lifestyle fuelling disease such as diabetes will favour diabetic retinopathy market growth.

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Favourable reimbursement policies such as coverage for annual retinopathy screening of diabetic population in Canada along with programs such as 'Action for Diabetes' and diabetic eye screening will propel industry growth. Growing demand for advanced treatment, rising healthcare expenditure coupled with public and private players initiatives to reduce diabetic retinopathy prevalence by creating awareness will favour market growth.

Factors such as non-compliance to treatment, less or no awareness about diabetes leading to vision impairment as well as undiagnosed diabetes for prolonged period will fuel industry growth. However, scarcity of trained ophthalmologists and extensive time required for approval of drugs for diabetic retinopathy treatment might impede market growth.

Browse key industry insights spread across 90 pages with 53 market data tables & 10 figures & charts from the report, "Diabetic Retinopathy Market" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/diabetic-retinopathy-market-report

Non-proliferative diabetic retinopathy market will witness lucrative growth over the forecast period. Rising incidences of diabetes among elderly as well as youth population coupled with prolonged high blood glucose levels will drive non-proliferative diabetic retinopathy market over the forecast period.

Growing incidences of diabetic macular edema (DME) coupled with technological advancements will drive intraocular steroid injection market over the coming years. Intraocular steroid injection reduces leakage of fluid in retina thus resulting in enhanced vision will further propel industry growth.

U.S. diabetic retinopathy market held largest market share in 2016 and is estimated to follow similar trend over the forecast period due to the presence of geriatric patient pool, rising healthcare expenditure and presence of several market players.

UK diabetic retinopathy market will grow considerable over the forecast timeframe owing to high technological adoption, rising research activities focusing on studying visual impairment due to diabetes and growing prevalence of diabetic retinopathy in the country.

High geriatric population base and growing adoption of unhealthy lifestyle including consumption of high sugar and fat content food coupled with lack of physical exercise leading to rising incidences of diabetes will drive Chinese diabetic retinopathy market.

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Some of the industry players are Bayer AG, Genentech, Novartis, Sirnaomics, Regeneron Pharmaceuticals, Kowa Company, BCN Peptides, Allergan, Aerpio Pharmaceuticals, Ampio Pharmaceuticals, and Alimera Sciences.

Major industry players are focusing on research activities to develop innovative products to treat diabetic retinopathy. They are also emphasizing on partnership and collaboration to strengthen their existing product portfolio.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Media Contact: Jignesh Thakkar, Global Market Insights, Inc., +13028467766, sales@gminsights.com

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SOURCE Global Market Insights, Inc.

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