Reports And Data

The global diabetic retinopathy market size was USD 7.0 Billion in 2022 and is expected to reach USD 11.83 Billion in 2032

NEW YORK, NY, UNITED STATES, April 30, 2023 /EINPresswire.com/ -- The global Diabetic Retinopathy Market was valued at USD 7.0 billion in 2022 and is expected to grow at a revenue CAGR of 6% during the forecast period, reaching USD 11.83 billion in 2032. The primary factor driving revenue growth is the increasing prevalence of diabetes, which is one of the leading causes of diabetic retinopathy. The global prevalence of diabetes is expected to rise, leading to a considerable increase in the number of people with diabetic retinopathy.

Manufacturers are continuously introducing new therapies to meet the rising demand for effective treatments for diabetic retinopathy. High blood sugar levels damage the tiny blood vessels in the retina, which is the primary cause of diabetic retinopathy. Treatments that target the underlying causes of diabetic retinopathy, such as managing blood sugar levels and preventing future retinal damage, are in high demand.

Moreover, there is a growing need for diagnostic and monitoring technologies as diabetic retinopathy becomes more common. Early detection and monitoring are critical to prevent irreversible retinal damage since the disease progresses slowly and may not show symptoms in the early stages. As a result, demand for effective diagnostic and monitoring tools is increasing across various end-use industries, including healthcare, pharmaceutical, and diagnostic centers.

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Segments Covered in the Report:

The market for diabetic retinopathy is expected to benefit from the increasing use of innovative technologies in the healthcare sector, such as Artificial Intelligence (AI) and Machine Learning (ML). These technologies are being utilized more frequently for the early detection and monitoring of diabetic retinopathy, enabling medical professionals to make an early diagnosis and prevent further retinal damage.

The enteral feeding formulas market can be categorized into two main types - proliferative and non-proliferative. Proliferative enteral feeding formulas are designed to support the growth of new tissues in the body and promote healing after surgery or injury. Non-proliferative formulas, on the other hand, are meant to maintain the body's nutritional requirements and are generally prescribed for long-term care.

The enteral feeding formulas market is segmented by end-use into hospitals, clinics, and ambulatory surgical centers. Hospitals are the primary end-users of enteral feeding formulas due to their ability to provide comprehensive care to patients. Clinics and ambulatory surgical centers also use enteral feeding formulas, although to a lesser extent than hospitals. The increasing number of ambulatory surgical centers and clinics, however, is expected to drive the demand for enteral feeding formulas in these facilities.

In conclusion, the enteral feeding formulas market is segmented by type into proliferative and non-proliferative formulas. Proliferative formulas are meant to promote tissue growth, while non-proliferative formulas are prescribed for long-term care. The market is further segmented by end-use into hospitals, clinics, and ambulatory surgical centers, with hospitals being the primary end-users. The rising number of ambulatory surgical centers and clinics is expected to drive demand for enteral feeding formulas in these facilities, providing growth opportunities for companies operating in the market.

Strategic Development:

Novartis, in 2021, released positive results from a phase III clinical trial for its drug Beovu^® (brolucizumab), which is used to treat diabetic macular edema (DME), a diabetic retinopathy complication. The study revealed that Beovu^® achieved its primary goal of enhancing the best-corrected visual acuity of patients with DME.

In 2020, Regeneron Pharmaceuticals obtained FDA clearance for EYLEA^® (aflibercept) Injection to treat all stages of diabetic retinopathy. The medicine is administered by injecting it into the eye and has been shown to enhance vision in diabetic retinopathy patients.

In the same year, Alimera Sciences declared encouraging findings from a phase III clinical trial for its drug Iluvien^® (fluocinolone acetonide intravitreal implant) for the treatment of diabetic macular edema. The trial demonstrated that Iluvien^® substantially improved the best-corrected visual acuity in DME patients.

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Competitive Landscape:

The global diabetic retinopathy market is highly competitive and has several major players operating in the market. These companies are deploying various strategies to gain a competitive advantage, including mergers & acquisitions, strategic agreements & contracts, and developing and introducing more effective products.

Novartis International AG is one of the major players in the diabetic retinopathy market, with a strong product portfolio and significant market share. F. Hoffmann-La Roche Ltd is another major player in the market, with a focus on developing innovative treatments for diabetic retinopathy. Regeneron Pharmaceuticals Inc. is also a key player in the market, with its flagship product EYLEA being a major contributor to its revenue.

Other major players in the diabetic retinopathy market include Bayer AG, Allergan plc, Genentech, Inc., Alimera Sciences, Inc., Adverum Biotechnologies, Inc., Aerpio Pharmaceuticals, Inc., and Iveric bio, Inc. These companies are engaged in various research and development activities to develop more effective treatments for diabetic retinopathy, thereby contributing to the growth of the market.

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Overall, the diabetic retinopathy market is expected to grow significantly in the coming years, with increasing prevalence of diabetes and associated retinopathy driving the demand for effective treatments. The major players in the market are expected to continue their efforts to gain a competitive advantage and drive growth in the market through innovation and strategic partnerships.

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