Market Research Future (MRFR)’s study reveals that the global diabetic retinopathy market is anticipated to expand at a CAGR of 11.9% during the forecast period 2019 to 2025. The rising burden of diabetes is prognosticated to emerge as the driving force of market growth. In addition, rising awareness about the disease has intensified the need for advanced diagnostic tests for early diagnosis. This, in turn, is forecasted to accelerate the revenue creation for the market participants.
Changes in lifestyle are fueling the threat of diabetes across the world. It is likely to influence the growth of the diabetic retinopathy market positively in the forthcoming years. Key players are investing in research & development for bringing technologically advanced devices and diagnostics in order to treat the disease effectively. It is presumed to encourage the expansion of the diabetic retinopathy market over the next few years.
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The growing geriatric population is supposed to favor the proliferation of the market. On the flip side, inaccuracy of some diagnostic tests, lack of awareness about the disease, and low healthcare expenditure in developing nations are prognosticated to check the expansion of the diabetic retinopathy market in through the assessment period.
Market Segmentation
The Market Research Future report provides an all-inclusive segmental
analysis of the diabetic retinopathy market on the basis of diagnosis, type,
end-user, and treatment.
Based on type, the diabetic
forecast retinopathy market is segmented into proliferative advanced
diabetic retinopathy and non-proliferative diabetic retinopathy. Of these, the
non-proliferative diabetic retinopathy market segment will dominate the market
during the forecast period. Its prevalence is higher compared to proliferative
diabetic retinopathy.
Based on the diagnosis, the diabetic retinopathy market is segmented into
optical coherence tomography and fluorescein angiography.
Based on treatment, the diabetic retinopathy market is segmented into vitrectomy, anti-VEGF therapy, laser treatment, and others. The laser treatment segment is again segmented into the scatter laser treatment and focal laser treatment. Of these, the laser surgery segment will lead the market during the forecast period. Factors propelling the growth of the segment include the growing demand for minimally invasive laser surgery recently developed instruments and devices used in laser surgical procedures are highly efficient and offer high precision, and these surgeries have minimal complications.
Based on the end-user, the diabetic retinopathy market is segmented into research institutes, diagnostic centers, hospitals and clinics, and others. Of these, clinics will have the maximum share in the market during the forecast period.
Regional Analysis:
The global diabetic retinopathy market, by region, has been segmented into the Americas, Europe, Asia Pacific, and the Middle East & Africa. Americas is expected to hold the largest share of the global market over the assessment period. Led by the U.S., this region is poised to benefit from the rising awareness about the disease and the increasing demand for early diagnosis. An upsurge in demand for diagnostic tests is also projected to be witnessed in the diabetic retinopathy market across the review period. The consolidation of key players in the region is further prognosticated to augment the regional diabetic retinopathy market in the foreseeable future.
The increasing patient population and availability of diagnosis for diabetes are driving the market growth in Europe. Germany is anticipated to contribute substantially over the next couple of years. Other factors forecasted to aid the proliferation of the diabetic retinopathy market in the region are high demand for early diagnosis, increasing research & development, changing lifestyle, etc.
Factors such as high prevalence of chronic diseases, presence of a huge geriatric population, lifestyle changes, etc. are poised to expedite the growth trajectory of the diabetic retinopathy market in Asia Pacific. Meanwhile, the Middle East & Africa is expected to exhibit steady growth driven by the increasing demand for diabetes management.
Competitive Dashboard:
Some of the key players profiled in the report are Novartis AG (Germany), Regeneron Pharmaceuticals Inc. (U.S.), Kowa Group (Japan), Bayer (Germany), ThromboGenics (U.S.), Sirnaomics (U.S.), Glycadia Pharmaceuticals (U.S.), Actavis Plc (U.K.), Ampio Pharmaceuticals (U.S.), Genentech (U.S.), Alimera Sciences (U.S.), and BCN Peptides (Spain).
Industry News:
In January 2019, Brazilian and Australian researchers have developed an algorithm that leverages artificial intelligence technology for spotting key marker of diabetic retinopathy with 98% accuracy.
In January 2019, a camp was organized in Hyderabad, India, under the auspices of Indian Institute of Public Health (IIPH, Hyderabad) for raising awareness about diabetic retinopathy.
In December 2018, Google has developed an AI model that detects diabetic retinopathy with an accuracy of human retinal specialists. It is rolling out its diabetic retinopathy initiative in India with Verilywhich works on life sciences research and development.
In April 2018, The U.S. Food & Drug Administration (FDA) has permitted the marketing of the first AI-based device that facilitates the detection of diabetic retinopathy.
Table Of Contents
REPORT PROLOGUE
MARKET INTRODUCTION
2.1. Definition
2.2. Scope Of The Study
2.2.1. Research Objective
2.2.2. Assumptions
2.2.3. Limitations
RESEARCH METHODOLOGY
3.1. Overview
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
MARKET DYNAMICS
4.1. Overview
4.2. Drivers
4.3. Restraints
4.4. Opportunities
MARKET FACTOR ANALYSIS
5.1. Porter’s Five Forces Analysis
5.1.1. Bargaining Power Of Suppliers
5.1.2. Bargaining Power Of Buyers
5.1.3. Threat Of New Entrants
5.1.4. Threat Of Substitutes
5.1.5. Intensity Of Rivalry
5.2. Value Chain Analysis
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