Diabetic Retinopathy Global Market Report 2024

The diabetic retinopathy market size has grown strongly in recent years. It will grow from $7.89 billion in 2023 to $8.56 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth observed in the historical period can be attributed to factors such as an aging population, a rise in the prevalence of diabetes, increased awareness regarding diabetic retinopathy, enhancements in healthcare infrastructure, and an increase in healthcare expenditure.

The diabetic retinopathy market size is expected to see strong growth in the next few years. It will grow to $11.4 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The anticipated growth in the forecast period can be attributed to the adoption of personalized medicine approaches, the expansion of telemedicine services, the development of novel therapeutic interventions, the increased adoption of point-of-care testing, and the implementation of remote patient monitoring. Notable trends in the forecast period include the application of precision medicine in diabetic retinopathy treatment, a heightened focus on early detection and prevention, the growth of teleophthalmology services, increased research in gene therapy, and ongoing advancements in retinal imaging technology.

The anticipated growth of the diabetic retinopathy market is expected to be propelled by the increasing prevalence of diabetes. Diabetes is characterized by prolonged elevated blood glucose levels, often influenced by factors such as overweight, obesity, genetics, and physical inactivity. Individuals with diabetes face the risk of retinal damage, impacting the part of the eye responsible for detecting light and transmitting signals to the brain. For example, as of November 2021, the International Diabetes Federation reported a global diabetes prevalence of 10.5%, with over 44.7% of individuals remaining undiagnosed. Furthermore, it is projected that the diabetic population will increase from 643 million (11.3%) in 2030 to 783 million (12.2%) in 2045. Hence, the rising prevalence of diabetes is a significant driver of the diabetic retinopathy market's growth.

The increasing proportion of aging individuals is also expected to contribute to the growth of the diabetic retinopathy market. Aging individuals, characterized by advancing age and the aging process, are more susceptible to chronic conditions such as diabetes. This demographic shift elevates the risk and expands the population vulnerable to diabetic retinopathy. For instance, data from the United States Census Bureau, as of June 2023, indicated a rise in the country's median age to 38.9 years in 2022, reflecting an ongoing aging trend. Consequently, the growing proportion of aging individuals serves as a driving force for the diabetic retinopathy market's expansion.

Technological advancements represent a prominent trend gaining traction in the diabetic retinopathy market. Major companies within this market are embracing innovative technologies to maintain their competitive standing. For instance, in July 2022, Baxter International Inc., a US-based healthcare company, introduced the Welch Allyn RetinaVue 100 Imager PRO in South Korea. These cutting-edge technologies aim to facilitate the detection of diabetic retinopathy in primary care settings, streamlining the process for annual diabetic retinal exams (DREs) during routine primary care visits and enhancing patient compliance.

Companies operating in the diabetic retinopathy market are strategically entering partnerships to enhance their market profitability. Collaborations in the context of diabetic retinopathy involve coordinated efforts among diverse stakeholders, including healthcare providers, researchers, pharmaceutical companies, and advocacy groups, to address challenges associated with diabetic retinopathy. For example, in October 2023, AEYE Health, a US-based provider of AI-based diagnostics for retinal imaging, joined forces with Topcon Screen, a Japan-based diabetic screening platform. Their collaboration aims to offer point-of-care screening for diabetic retinopathy using artificial intelligence, ensuring swift and precise results. This approach enables primary care clinicians to conduct diabetic retinopathy screenings directly in their clinics, reducing non-compliance risks and addressing care gaps associated with diabetic retinopathy screening through immediate and accurate assessments at the point of care.

In January 2022, Meteda, a US-based healthcare technology company, completed the acquisition of Retmarker SA for an undisclosed amount. Through this strategic move, Meteda seeks to broaden its access to periodic screening for diabetic retinopathy, utilize AI to address various diabetes-related issues, and strengthen its position in the EMEA region. Retmarker SA, based in Portugal, is an AI technology company specializing in ophthalmology, particularly focusing on retinal conditions such as diabetic retinopathy.

Major companies operating in the diabetic retinopathy market report are Pfizer Inc., F-Hoffmann-La Roche Ltd., AbbVie Inc., Bayer AG, Novartis AG, Ellex Medical Lasers Ltd., Abbott Laboratories Inc., Regeneron Pharmaceuticals Inc., Bausch Health Companies Inc., Icon Bioscience Inc., Allergan plc., Genentech Inc., Aurobindo Pharma, Santen Pharmaceutical Co. Ltd., Carl Zeiss Meditec AG, Valeant Pharmaceuticals International Inc., Lumenis Ltd., Optos Plc., Quantel Medical SAS, NIDEK Co. Ltd., IRIDEX Corporation, Alimera Science Inc., Kowa Company Ltd., Ocular Therapeutix Inc., Aerpio Pharmaceuticals Inc., Kodiak Sciences Inc., Sirnaomics Inc., Oxurion NV, Graybug Vision Inc., Ampio Pharmaceuticals Inc.

North America was the largest region in the diabetic retinopathy market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the diabetic retinopathy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the diabetic retinopathy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of diabetic retinopathy include proliferative diabetic retinopathy and non-proliferative diabetic retinopathy. Proliferative diabetic retinopathy represents the advanced stage characterized by the emergence of abnormal new blood vessels on the surface of the retina. Various treatment modalities, such as anti-VEGF drugs, intraocular steroid injections, laser photocoagulation, and vitreoretinal surgery, are employed in settings such as hospitals, ambulatory surgical centers, and other healthcare facilities.

The diabetic retinopathy market research report is one of a series of new reports that provides diabetic retinopathy market statistics, including diabetic retinopathy industry global market size, regional shares, competitors with a diabetic retinopathy market share, detailed diabetic retinopathy market segments, market trends and opportunities, and any further data you may need to thrive in the diabetic retinopathy industry. This diabetic retinopathy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The diabetic retinopathy market includes revenues earned by entities by providing ophthalmologic examination, eye management and retinal imaging and monitoring. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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