LONDON, March 12, 2024 (GLOBE NEWSWIRE) -- As per The Business Research Company's Proliferative Diabetic Retinopathy (PDR) Global Market Report 2024, the proliferative diabetic retinopathy (PDR) market has experienced significant growth in recent years, with the proliferative diabetic retinopathy (PDR) market size projected to increase from $2.16 billion in 2023 to $2.42 billion in 2024, representing a compound annual growth rate (CAGR) of 11.7%. This positive trajectory is expected to continue, with the market reaching $3.62 billion by 2028, growing at a CAGR of 10.6%.
Rising Incidence of Obesity Drives Market Expansion
One of the key drivers of future growth in the proliferative diabetic retinopathy (PDR) market is the increasing incidence of obesity. Obesity, a complex chronic disease associated with insulin resistance and inflammation, contributes to the development of diabetic retinopathy by damaging the retinal microvasculature. With obesity rates on the rise, particularly in the United States where four in ten adults are affected, there is a growing demand for effective treatments to address the complications of diabetic retinopathy.
Learn More In-Depth On The Proliferative Diabetic Retinopathy (PDR) Market
Innovative Therapies and Collaborations Lead Market Advancements
Major players in the proliferative diabetic retinopathy (PDR) market are actively engaged in developing novel therapies to enhance treatment effectiveness and improve patient outcomes. For example, Biogen and Samsung Bioepis introduced Byooviz, the first ophthalmology biosimilar in the US, used to treat diabetic retinopathy among other conditions. Additionally, AbbVie's collaboration with REGENXBIO aims to develop RGX-314, a potential gene therapy for diabetic retinopathy and other chronic retinal diseases, showcasing the industry's commitment to advancing treatment options.
Market Segmentation
The proliferative diabetic retinopathy (pdr) market covered in this report is segmented –
1) By Treatment Type: Anti-VEGF (Vascular Endothelial Growth Factor) Therapy, Intraocular Steroids, Laser Surgery, Vitrectomy
2) By Mode of Administration: Injectables, Oral, Other Mode Of Administrations
3) By Application: Hospitals, Clinics, Other Applications
Opportunities for Stakeholders
As the proliferative diabetic retinopathy (PDR) market continues to expand, stakeholders can leverage market reports to capitalize on emerging opportunities and drive strategic decision-making. By analyzing market trends, competitive landscape, and technological advancements, players can develop innovative therapies, forge strategic partnerships, and tailor their offerings to meet the evolving needs of patients and healthcare providers.
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In conclusion, stakeholders in the proliferative diabetic retinopathy (PDR) market can utilize market reports to gain valuable insights and stay ahead in this rapidly evolving landscape. By staying informed about proliferative diabetic retinopathy (PDR) market dynamics and developments, players can identify untapped opportunities, navigate regulatory challenges, and drive innovation to address the growing prevalence of diabetic retinopathy. With a comprehensive understanding of market trends and competitive intelligence, stakeholders can position themselves for success and contribute to improving patient outcomes in the proliferative diabetic retinopathy (PDR) market.
Proliferative Diabetic Retinopathy (PDR) Global Market Report 2024 by The Business Research Company provides insights on the proliferative diabetic retinopathy (PDR) market size, proliferative diabetic retinopathy (PDR) market segments, proliferative diabetic retinopathy (PDR) market trends, drivers and restraints, major competitors' market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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