Proliferative Diabetic Retinopathy Market Predicted to Grow at 8.5% CAGR, Reaching USD 5.2 billion by 2031: Transparency Market Research, Inc.
As the proliferative diabetic retinopathy market grows, personalized medicine and research and development will be at the forefront of driving demand.
Wilmington, Delaware, United States, Feb. 02, 2024 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The proliferative diabetic retinopathy market was valued at US$ 2.5 billion in 2022. A CAGR of 8.5% is expected between 2023 and 2031. The market is expected to reach US$ 5.2 billion by 2031. Continuing research and development will likely lead to improvements in PDR treatment techniques. Surgical methods, gene treatments, or pharmacological interventions might be employed to stop or slow the progression of the disease.
Artificial intelligence and imaging technology advancements could improve diabetic retinopathy early detection and monitoring. The availability and effectiveness of screening programs could be increased by automated screening procedures and telemedicine technologies, especially in areas with limited access to specialized healthcare services. Personalized medicine could soon become the norm, with patients’ treatments tailored based on their genetics, lifestyle, and diabetic retinopathy features. This strategy might result in more focused and successful interventions.
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The increasing focus on preventative healthcare may direct future work towards methods for stopping PDR in diabetics before it starts or worsens. To lower the incidence of diabetic retinopathy, lifestyle modifications, early diabetes control, and patient education may be crucial. Increasing patient education and engagement will likely be key to future plans. Diabetes management can be improved by giving people with the disease the tools they need to control it, such as frequent eye exams and following treatment regimens. The treatment of proliferative diabetic retinopathy may be greatly impacted by modifications to healthcare regulations and expanded availability of medical services, including eye care. Providing comprehensive, reasonably priced healthcare to more people with diabetes may improve their health.
Key Findings of the Market Report
- Advances in diabetic retinopathy surgical instruments are fostering market growth
- The anti-VEGF agent’s drug class is likely to drive future market growth.
- Consumers are likely to accept oral methods in the future based on their mode of administration.
- A growing diabetic retinopathy market is expected to be created by hospital pharmacies.
- In 2022, North America dominated the global market.
Global Proliferative Diabetic Retinopathy Market: Key Players
Developing new products and implementing drug development practices to enhance their product portfolio are leading companies’ strategies for proliferative diabetic retinopathy market trends. Clinical trials are being conducted to ensure the products are effective and efficient.
- Genentech Inc.
- Novartis AG
- Regeneron Pharmaceuticals, Inc.
- Pfizer Inc.
- Merck KGaA
- Cipla Inc.
- AbbVie Inc.
- Bausch Health Companies Inc.
- Santen Pharmaceutical Co., Ltd.
- Alimera Sciences
- Intas Pharmaceuticals Ltd.
- In August 2023, Regeneron Pharmaceuticals, Inc., an industry leader in biotechnology, received the U.S. Food and Drug Administration (FDA) approval for EYLEA HD (aflibercept) Injection 8 mg for the treatment of patients with Diabetic Retinopathy (DR), Diabetic Macular Edema (DME), and wet Age-related Macular Degeneration (wAMD).
Global Proliferative Diabetic Retinopathy Market: Growth Drivers
- A growing number of people around the world are being diagnosed with diabetes. With the rise in diabetes cases, including proliferative retinopathy, diabetic retinopathy is predicted to become more prevalent.
- Research and development activities are fueled by this expanding patient population, which expands the market for therapeutic and diagnostic interventions and meets the growing need for efficient PDR treatments.
- Medical technology advancements for diagnosing and treating proliferative diabetic retinopathy drive the growth in this market. Advancements in laser therapy, surgery, and retinal imaging improve the accuracy and efficacy of procedures.
- Healthcare providers are increasingly interested in new technologies and are more likely to use them. In addition to improving patient outcomes, technological advancements also encourage market growth.
- Routine eye exams are becoming increasingly important for individuals with diabetes, which is another motivator. Governments, healthcare organizations, and advocacy groups increasingly emphasize the necessity of early detection and management of diabetic retinopathy.
- By encouraging people with diabetes to get regular eye exams, screening programs and awareness campaigns are implemented, which helps identify cases of proliferative diabetic retinopathy early on. As a result, therapeutic interventions are in demand, facilitating market expansion.
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Global Proliferative Diabetic Retinopathy Market: Regional Landscape
- Proliferative diabetic retinopathy is directly linked to the prevalence of diabetes in North America. An aging population, lifestyle changes, and obesity all contribute to the increasing prevalence.
- Diabetic retinopathy and other complications are being reduced through improved diabetes management and awareness campaigns. PDR is still associated with a high incidence in North America due to the large population of diabetics.
- Healthcare services are essential for diagnosing and treating proliferative diabetic retinopathy. Medical facilities, eye care providers, and diagnostic technologies are widely available in rural and metropolitan areas in North America. Cities are often more accessible than rural areas regarding specialized care.
- North America usually leads the way in healthcare technology. Modern diagnostics, imaging technologies, and cutting-edge therapeutics can be found here. Improvements in laser therapy, surgical methods, and retinal imaging have probably helped PDR patients receive better diagnoses and outcomes from their treatments.
Global Proliferative Diabetic Retinopathy Market: Segmentation
By Drug Class
- Anti-VEGF Agents
By Mode of Administration
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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About Transparency Market Research
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