Diabetic Retinopathy Market to Record an Exponential CAGR by 2020
Diabetes is the chronic condition associated with abnormally high level of glucose in the blood. Insufficient or non production of insulin in pancreas causes diabetes. Globally, the incidence of diabetes is increasing significantly and it is becoming a major burden. According to the International Diabetes Federation in 2013, approximately 382 million people currently suffer from diabetes across the world. Diabetic retinopathy is the most common complication of diabetic that affects eyes. People suffering from diabetes type I and II have risk of developing diabetic retinopathy. It is caused due to change in blood vessels i.e. swelling or leakage of blood vessels of retina. Retina is thin layer of light sensitive tissue at the back of the eye. In initial stages diabetic retinopathy may not show any symptoms and later may lead to severe vision loss. Proliferated and non-proliferated are the major stages of diabetic retinopathy. Proliferated diabetic retinopathy is the most dangerous stage. Proliferated diabetic retinopathy has the risk of detachment or hemorrhage into the vitreous leading to severe vision loss. Diabetic retinopathy is treated by many ways depending upon the stage of diabetic retinopathy. It is one of the leading causes of blindness in American adults. According to WHO estimates, in 2012, 347 million people were suffering from diabetes globally, of which 11% had diabetic retinopathy. In the U.S., diabetic retinopathy affected around 4.1 million people, while vision-threatening retinopathy was estimated to have affected 899,000 people, in 2010. Diabetic retinopathy is treated with the help of medications and surgeries such as vitrectomy. In addition, control in levels of diabetes is also essential for the treatment of diabetic retinopathy.
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North America dominates the global market for diabetic retinopathy due to large number of aging population. Asia is expected to show high growth rates in the next five years in the global diabetic retinopathy market. China and India are expected to be the fastest growing diabetic retinopathy markets in Asia-Pacific region. Some of the key driving forces for diabetic retinopathy market in emerging countries are large pool of patients and rising government support and funding.
In recent times there is increase in diabetic retinopathy due to increasing prevalence of diabetics. Global aging population and change in lifestyle are some of the key factors driving the growth for the global diabetic retinopathy market. In addition, increasing healthcare awareness is also fuelling the growth of global diabetic retinopathy market. However, lack of accurate diagnosis of the disease and poor primary healthcare infrastructure and lack of insurance are some of the major factors restraining the growth for the global diabetic retinopathy market.
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Rising initiatives towards healthcare infrastructure would lead to growth in diabetic retinopathy market in Asia. Some of the trends for the global diabetic retinopathy market are increase in awareness of diabetic retinopathy treatment and increase use of electronic medical record in ophthalmology. Some of the major companies operating in the global diabetic retinopathy market are Novartis AG., F. Hoffmann-La Roche Ltd., Bayer AG, Pfizer, Inc., Allergan Inc., Isis Pharmaceuticals, Inc., Valeant Pharmaceuticals, Inc., Abbott Laboratories, Inc. and Regeneron Pharmaceuticals, Inc.
Key points covered in the report Report segments the market on the basis of types, application, products, technology, etc (as applicable)
The report covers geographic segmentation North America Europe Asia RoW The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020 The report provides company profiles of some of the leading companies operating in the market The report also provides porters five forces analysis of the market.
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