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2024-2033 Diabetic Retinopathy Market: What Growth Rate is Predicted?

In the past few years, the market size for diabetic retinopathy has seen substantial growth. It’s projected to expand from $7.89 billion in 2023 to reach $8.56 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8.5%. The growth experienced during the historical period can be traced back to factors such as an aging population, a rise in diabetes cases, heightened awareness surrounding diabetic retinopathy, enhancements in healthcare infrastructure, and a significant increase in healthcare spending.

It is predicted that we will witness considerable growth in the diabetic retinopathy market size in the following years. The sector is projected to expand to $11.4 billion by 2028, with a compound annual growth rate (CAGR) of 7.4%. This prospective growth in the forecast years is credited to the introduction of personalized medication strategies, the enhancement of telemedicine offerings, the implementation of groundbreaking therapeutic interventions, and the adoption of point-of-care examinations and remote patient supervision. The major trends forecast for this period include precision medicine application in the treatment for diabetic retinopathy, heightened interest in early detection and prevention, growth in teleophthalmology services, increased research in gene therapy, and continuous progress in retinal imaging technology.

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What Aspects Are Driving the Expansion of the diabetic retinopathy Market?

The growth of the diabetic retinopathy market is anticipated to be accelerated by the escalating incidence of diabetes. Diabetes is a long-standing metabolic disorder that results in elevated blood glucose levels. Factors such as obesity, genetics, and physical inactivity predominantly contribute to the increasing prevalence of diabetes. In individuals with diabetes, there is excess sugar in their bloodstream, capable of damaging the retina, an integral part of the eye that identifies light and transmits signals to the brain via a nerve at the back of the eye. In November 2021, the International Diabetes Federation, situated in Belgium, reported a worldwide diabetes prevalence of 10.5% in 2021, with 44.7% of those affected still unidentified. Additionally, the diabetic population is projected to rise from 643 million (11.3%) in 2030 to 783 million (12.2%) by 2045. Consequently, the burgeoning incidence of diabetes is propelling the growth of the diabetic retinopathy market.

What Are the Significant Segments of the Diabetic Retinopathy Market?

1) By Type: Proliferative Diabetic Retinopathy, Non-Proliferative Diabetic Retinopathy

2) By Treatment: Anti-VEGF Drugs, Intraocular Steroid Injection, Laser Photocoagulation, Vitreoretinal Surgery

3) By End-User: Hospitals, Ambulatory Surgical Centers, Other End Users

What Trends Are Influencing the Evolution of the Diabetic Retinopathy Market?

Technological progress is a primary trend emerging in the diabetic retinopathy market. Leading firms in the large volume parenteral market are utilising new technology to hold onto their market position. For instance, Baxter International Inc., a healthcare company from the US, introduced the Welch Allyn RetinaVue 100 Imager PRO in South Korea in July 2022. These advancements aim to enable the detection of diabetic retinopathy during regular primary care appointments. The RetinaVue has been shown to enhance patient compliance for annual diabetic retinal exams (DREs) that could potentially save lives, by enabling swift and comfortable screening during a standard primary care check-up.

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Which Geographic Areas Are Influencing the Growth of the Diabetic Retinopathy Market?

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 Diabetic Retinopathy Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the diabetic retinopathy market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Diabetic Retinopathy Market Include

1. Diabetic Retinopathy Market Executive Summary

2. Diabetic Retinopathy Market Segments

3. Diabetic Retinopathy Market Size And Template Market Growth Rate

4. Key Diabetic Retinopathy Market Trends

5. Major Diabetic Retinopathy Market Drivers

……

25. Key Mergers And Acquisitions In The Diabetic Retinopathy Market

26. Top Diabetic Retinopathy Companies

27. Diabetic Retinopathy Market Opportunities And Strategies

28. Diabetic Retinopathy Market, Conclusions And Recommendations

29. Appendix

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