The global diabetic retinopathy market size was USD 8.1 Billion in 2022 and is likely to reach USD 14.41 Billion by 2031, expanding at a CAGR of 6.6% during 2023–2031. The market growth is attributed to the rising incidence of diabetes.
Diabetic retinopathy is a disorder occurring due to the long-term effects of diabetes mellitus causing progressive damage to the retina. Diabetic retinopathy is the major neurovascular complication of diabetes and is a leading cause of blindness in adults. For instance, according to a report published by the National Library of Medicine on May 16, 2023, around 93 million people are affected by diabetic retinopathy every year, of which 77.3% are affected by type 1 diabetes and 25.1% are affected by type 2 diabetes.
Rising diabetic retinopathy among the geriatric population is likely to expand the market growth. The geriatric population is nonadherent to their medication regimen and develop insulin resistance issues due to a decrease in muscle mass and reduced physical activity, which leads to increased blood sugar level in the body, resulting in diabetic retinopathy. For instance, as per the report published by National Medicine Library on July 15, 2021, the number of diabetic retinopathies is expected to reach 9.9 million by 2050 in the US.
Impact of Artificial Intelligence (AI) on the Diabetic Retinopathy Market
Rising adoption of artificial intelligence in diagnostic devices is projected to create potential opportunities for diabetic retinopathy treatment. AI has the ability to detect diabetic retinopathy through a photographic image of the eye fundus. Thus, key market players are introducing AI-powered devices to detect diabetic retinopathy. For instance, CheckEye introduced a cloud-based solution to detect diabetic retinopathy. The solution provides photographic images of the eye fundus using AI algorithm. It prevents diabetic retinopathy by detecting it in an early stage.
The COVID-19 pandemic hampered the diabetic retinopathy market, due to drastic reduction in ophthalmic outpatient visits. Diabetic retinopathy screening and ophthalmic operations were postponed during the pandemic due to preventive measures such as social distancing. Moreover, governments and healthcare organizations recommended hospitals and clinics to postpone or cancel all elective checkups and surgeries during the pandemic. For instance,
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As per the report published by the National Library of Medicine on September 8, 2021, an estimated 81% decline was seen in ophthalmology clinic visits in March and April 2020 compared to the previous year.
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On March 18, 2020, the American Academy of Ophthalmology directed ophthalmologists to cease all non-emergency treatment immediately.
Diabetic Retinopathy Market Dynamics
Major Drivers
Increasing incidence of diabetes is expected to drive the market. High blood sugar damages blood vessels in the retina, leading to blindness. For instance, as per the International Diabetes Federation, nearly 537 million adults between the ages of 20 and 79 years are living with diabetes. This number is projected to reach 643 million by 2030 and 783 million by 2045.
Rising negligence of diabetes among the population is anticipated to propel the diabetic retinopathy market, as diabetic ignorance causes several health complications such as diabetic retinopathy, diabetic ketoacidosis, nerve damage, kidney problems, heart disease, stroke, diabetic foot ulcer, and diabetic macular edema. For instance, according to the Centers for Disease Control and Prevention (CDC), around 30.3 million American population have diabetes, of which 8.5 million people remain undiagnosed.
Existing Restraints
Growing awareness regarding diabetic management is expected to restrict the market growth, as timely management of diabetes reduces the incidence of diabetic retinopathy. Moreover, increasing educational and screening programs by health and research institutes for early detection of Vision Threatening Diabetic Retinopathy (VTDR) is projected to hinder the market growth.
Emerging Opportunities
Increasing investment in R&D by key market players creates an immense opportunity in the market, as companies are introducing innovative diabetes management devices to tackle diabetic retinopathy. For instance, Nemaura introduced Sugarbeat, the world’s first non-invasive continuous glucose monitor device. This device is connected to a rechargeable transmitter with an app displaying glucose readings, which counts sugar levels every five minutes for periods of up to 24 hours.
Rapid approvals of drugs by several health organization bodies are further likely to contribute to market expansion. For instance, Food Drugs and Administration (FDA) approved Vabysmo, Lucentis, and Eylea for the treatment of diabetic macular edema, a cause of diabetic retinopathy.
Scope of the Diabetic Retinopathy Market Report
The market report includes an assessment of the trends, market, segments, and regional markets. Overview and dynamics have also been included in the report
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Attributes
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Details
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Report Title
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Diabetic Retinopathy Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Type (Non-proliferative Diabetic Retinopathy and Proliferative Diabetic Retinopathy), Treatment (Laser Surgery, Vitrectomy, and Injections), and End-user (Hospitals, Clinics, and Research Institutes)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Bayer AG; ABBVIE INC; Genentech, Inc; Novartis AG; Oxurion NV; Alimera Sciences; BCNPeptides; Kowa Company, Ltd; Ampio Pharmaceuticals Inc; Sirnaomics, Ltd; AbbVie Inc; Pfizer Inc; F. Hoffmann-La Roche Ltd; NIDEK CO., LTD; and Bausch Health Companies Inc.
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Diabetic Retinopathy Market Segment Insights
Type Segment Analysis
Based on type, the diabetic retinopathy market is bifurcated into non-proliferative diabetic retinopathy and proliferative diabetic retinopathy. The non-proliferative diabetic retinopathy segment held a large market share in 2022 and is expected to expand at a significant pace in the coming years, due to the rising incidence of blindness caused by diabetes among the geriatric population. Moreover, regular retinal screening for diabetic mellitus patients propelled the market.
The proliferative diabetic retinopathy segment is projected to grow at a significant CAGR during the forecast period. Proliferative diabetic retinopathy is caused due to high blood sugar levels for a long time, which leads to fragile blood vessels growing in the retina and into the vitreous. The segment growth is attributed to the increasing incidence of type 2 diabetes across the globe.
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For instance, according to the National Institute of Health, about 62 million people are affected by type 2 diabetes every year, corresponding to 6.28% of the world's population.
Treatment Segment Analysis
On the basis of treatment, the global market is segregated into laser surgery, vitrectomy, and injections. The injection segment dominated the market in 2022 and is anticipated to register a robust growth rate, owing to the wide adoption of anti-VEGF (Vascular endothelial growth factor) for the treatment of diabetic retinopathy. A series of injections of anti-VEGF medicines reduce the growth of blood vessels and control blood leaking in the retina. Anti-VEGF is typically used in the treatment of proliferative diabetic retinopathy.
The laser surgery segment is expected to grow at a rapid pace during the assessment period, due to its potential to reduce the swelling in the retina by shrinking blood vessels that cause vision problems. Moreover, laser surgery is effective for diabetic retinopathy, as it stabilizes the changes in the eyes caused by diabetes.
End-user Segment Analysis
In terms of end-user, the diabetic retinopathy market is categorized into hospitals, clinics, and research Institutes. The hospitals segment held a major market share in 2022 and is projected to grow at a significant pace in the coming years, owing to the wide adoption of technologically advanced treatment options for diabetic retinopathy. Moreover, hospitals are the primary care centres for individuals with diabetes and its related causes such as diabetic retinopathy, diabetic macular edema, and others.
The clinics segment is anticipated to grow at a high CAGR during the projection period, due to the growing trend towards same-day surgery and outpatient care. Moreover, Clinics offer personalized care and treatment regimes, resulting in increasing demand for their services.
Regional Outlook
Based on region, the global market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America accounted for a major market share in 2022 and is expected to dominate the market during the forecast period, owing to the presence of established healthcare infrastructure, which offers effective treatment for diabetic retinopathy. Moreover, the rising incidence of diabetic retinopathy is likely to fuel the market. For instance, according to the Centers for Disease Control and Prevention (CDC), diabetic retinopathy has affected almost one-third of the adult population of the US aged 40 or above.
The market in Asia Pacific is expected to witness a large market share in the coming years, due to rising healthcare spending in developing regions such as India and China. Moreover, the increasing prevalence of diabetes in the region is expected to contribute to market expansion.
Segments
The global diabetic retinopathy market has been segmented on the basis of
Type
- Non-proliferative Diabetic Retinopathy
- Proliferative Diabetic Retinopathy
Treatment
- Laser Surgery
- Vitrectomy
- Injections
End-user
- Hospitals
- Clinics
- Research Institutes
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Bayer AG
- ABBVIE INC
- Genentech, Inc
- Novartis AG
- Oxurion NV
- Alimera Sciences
- BCNPeptides
- Kowa Company, Ltd
- Ampio Pharmaceuticals Inc
- Sirnaomics, Ltd
- AbbVie Inc
- Pfizer Inc
- F. Hoffmann-La Roche Ltd
- NIDEK CO., LTD
- Bausch Health Companies Inc
Competitive Landscape
Key players competing in the global diabetic retinopathy market are Bayer AG; ABBVIE INC; Genentech, Inc; Novartis AG; Oxurion NV; Alimera Sciences; BCNPeptides; Kowa Company, Ltd; Ampio Pharmaceuticals Inc; Sirnaomics, Ltd; AbbVie Inc; Pfizer Inc; F. Hoffmann-La Roche Ltd; NIDEK CO., LTD; and Bausch Health Companies Inc.
These companies adopted development strategies including collaboration, product launches, mergers, acquisitions, partnerships, and production expansion to expand their consumer base worldwide. For instance,
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On January 31, 2023, Eyenuk received European Union MDR Certification to market its EyeArt AI screening system in Europe. The system detects diabetic retinopathy and age-related macular degeneration (AMD).
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On January 31, 2022, Food Drugs and Administration (FDA) approved Vabysmo, the first bispecific antibody for the eye, to treat diabetic macular edema, a leading cause of diabetic retinopathy.
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