Product ID: SQMIG35A2516
Global Diabetic Retinopathy Market Size, Share, Growth Analysis, By Type(Proliferative Diabetic Retinopathy, and Non-proliferative diabetic retinopathy), By Management(Anti-VEGF, Intraocular Steroid Injection) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2516 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|
Tables:
63 |
Figures:
75
Global Diabetic Retinopathy Market Insights
Global Diabetic Retinopathy Market size was valued at USD 8.30 billion in 2022 and is poised to grow from USD 8.83 billion in 2023 to USD 14.51 billion by 2031, growing at a CAGR of 6.4% during the forecast period (2024-2031).
The rising incidence of diabetes, the increasing number of seniors, and a growing number of diabetes-related blindness are among the primary drivers expected to drive market expansion throughout the forecast period. The market is also being spurred forward by rising diabetes awareness and new product introductions. Diabetes is a major and developing global condition in which the pancreas' inability to make insulin leads to a rise in blood sugar levels. Damage to blood capillaries in the retina causes diabetic retinopathy.
High levels of sugar in the blood & poor monitoring of these constantly shifting BG levels are thought to be risk factors for diabetic retinal degeneration. Early detection of Type 2 diabetes in patients, medication correction, continuous self-monitoring by patients utilizing modern instruments, and adoption of a healthy lifestyle may prevent retinal blood vessel damage, lowering the incidence of diabetic retinopathy amongst patients. In spite of the diabetic population's efforts, diabetic retinopathy might result in irreversible blindness, depending on its current stage and severity.
Market participants have focused on the early detection of diabetic retinopathy. Check Eye, a Ukraine-based healthtech business creating a powered by AI cloud-based platform to determine retinopathy due to diabetes, for example, introduced a mobile solution to organize screening for DR for people with diabetes and their families in January 2023. The screening was assisted and supported by the Ukrainian Diabetic Federation & the Filatov Centre for Eye Diseases.
Furthermore, according to the Royal National Institution of Blind People (RNIB), diabetic retinal degeneration was one of the top causes of blindness in the United Kingdom. Rising consumer awareness levels and rising healthcare expenditure are two more aspects that are expected to drive market expansion. Furthermore, according to the WHO, the world's aging population is expected to triple by 2050, compared to 2020, making it critical to keep up a healthy lifestyle, reduce obesity, and regularly check BG levels in vulnerable groups.
Global Diabetic Retinopathy Market Report Snapshots
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