The Global Diabetes Associated Ophthalmic Treatment Market accounted for US$ 26.14 Bn in 2020 with a considerable CAGR of 6.9% during the forecast period of 2021 to 2028.
Ophthalmic treatments are used in diagnosing and treating eye-related disorders. One suspected reason for eye-related disorders is diabetes. According to the International Diabetes Federation, in 2019, approximately 463 million adults were diagnosed with diabetes globally, and it is estimated to reach a whopping number of 700 million by 2045. Patients with diabetes damage their blood vessels located at the back of the eye, which can cause blindness if not treated in the early stages. This disorder in medical terms is referred to as diabetic retinopathy. Diabetic retinopathy (DR) is a major microvascular complication of diabetes that has a significant impact on the world’s health systems. The National Center for Biotechnology Information projects that the number of people suffering from diabetic retinopathy (DR) will reach around 190 million by 2030.
The growing prevalence of diabetes across the world is a primary factor for diabetes-associated ophthalmic treatment market growth. A rise in the geriatric population and growing incidences of blindness are other diabetes associated ophthalmic treatment market trends. The elderly population is among the worst hit with diabetic eye-related disorders. According to the World Population Ageing Report, the elderly population is projected to reach around 1.5 billion in 2050. Vision loss in the elderly is a common scenario owing to age-related macular degeneration, diabetic retinopathy, glaucoma, and cataract. There is an increasing awareness among the population regarding ophthalmic treatment and the benefits of early adoption of diabetic retinopathy. Thus increasing awareness will lead to early diagnosis of ophthalmic treatment ultimately contributing to higher demand.
Additionally, the growing demand for ophthalmic drugs related to diabetes will boost the demand during the forecast timeframe of 2021 to 2028. However, a limited number of skilled ophthalmologists and an extended approval time for ophthalmic drugs are the factors that might restrain the market from growing. Furthermore, support from several government organizations for diabetic treatments and heavy investments from private and public players further drives the demand for global diabetes associated ophthalmic treatment market during the review period from 2021 to 2028.
|Market||Diabetes Associated Ophthalmic Treatment Market|
|Analysis Period||2017 - 2028|
|Forecast Data||2021 - 2028|
|Segments Covered||By Application, By Type, By End Use, and By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||
Alcon, Allergan, Abbott Medical Optics, Bausch Health, Bayer AG, Carl Zeiss Meditec, Ellex Medical Lasers Ltd., F. Hoffmann-La Roche Ltd, Genentech, Inc., IRIDEX Corp., Johnson & Johnson Services, Inc., Lumenis, Novartis AG, Pfizer, Inc., Quantel, Santen Pharmaceutical Co. Ltd., and Topcon Corp. among others.
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
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The growing prevalence of diabetes across the world
Diabetes is a chronic, progressive disease indicated by exalted levels of blood glucose. Diabetes causes vary depending on genetics, family history, health, and environmental factors. While, other factors such as excessive body-weight, inactivity, age, high blood pressure can also be leading factor to diabetes. According to a WHO report, diabetes is one of the four priority non-communicable diseases (NCDs) targeted for action by world leaders. Both the number of cases and prevalence of diabetes have been steadily increasing over the past few decades. The percentage of diabetes has nearly doubled since the late 80s, rising from 4.7% to 8.5% in the adult population. Over the past decade, the incidence of diabetes has witnessed a rapid growth in low and middle-income countries than in developed countries. Raised blood glucose levels, a common effect of uncontrolled diabetes, may eventually lead to serious damage to the eyes and other critical organs. Thus, ophthalmic treatments are on the rise as bulk patients suffering from diabetes cause eye-related disorders over time.
Global diabetes associated ophthalmic treatment market is segmented based on application, type, end-user, and region. Based on the application segment, the market classifies into diabetic retinopathy, diabetic macular edema, cataracts, glaucoma, eye allergy & infection, diabetic associated macular degeneration, uveitis, and others. Among applications, diabetic retinopathy acquired a maximum chunk in 2020. This is attributed to the high chances of diabetic patients being diagnosed with diabetic retinopathy, which may lead to vision loss over time. Based on the type, the segment bifurcates into drugs and devices. Among them, the drugs market accounted for the majority of the share in 2020, owing to the high adoption rate and key players operating in the global market. However, the devices sub-segment is anticipated to witness the highest growth during the forecast period of 2021 to 2028.
Moreover, the end-user segment is further sub-segmented into ophthalmic clinics, hospitals, ambulatory surgical centers, and others. Among the end-user segment, the hospital led the market with the utmost share in 2020 due to the presence of advanced medical facilities and emergency surgeries if required in a diabetic patient.
North America region is expected to lead global diabetes associated ophthalmic treatment market during the projected period of 2021 to 2028
Among all the regions, North America generated the highest revenues in 2020. This is attributed to the presence of a high diabetic population in the United States. According to the Centers for Disease Control and Prevention (CDC) statistics 2020, there were 34.2 million people detected with diabetes i.e. (10.5% of the U.S. population). Additionally, the growing elderly population and high awareness among consumers in the region also propels the North American diabetes associated ophthalmic treatment market growth. Besides, the presence of well-established market players and growing demand for advanced healthcare facilities in the region also contributes towards the dominant share of the North American market. Meanwhile, the Asia-Pacific diabetes associated ophthalmic treatment market is anticipated to witness the fastest CAGR throughout the forecast period of 2021 to 2028. The market for APAC is growing because of the increasing number of diabetic patients in developing countries such as China and India. According to Diabetes Research and Clinical Practice, the number of diabetic patients in China and India summed up to 193.4 million in 2019. Moreover, the growing awareness in these countries and favorable government initiatives are also likely to surge the growth of the APAC market. For instance, the International Diabetes Federation has stressed the urgency to develop and implement multi-sectoral strategies to combat the growing epidemic.
This section of the report pinpoints various key vendors of the market. Some of the key players offered in the report include Alcon, Allergan, Abbott Medical Optics, Bausch Health, Bayer AG, Carl Zeiss Meditec, Ellex Medical Lasers Ltd., F. Hoffmann-La Roche Ltd, Genentech, Inc., IRIDEX Corp., Johnson & Johnson Services, Inc., Lumenis, Novartis AG, Pfizer, Inc., Quantel, Santen Pharmaceutical Co. Ltd., and Topcon Corp. among others.
Market By Application
Market By Type
Market By End-User
Market By Geography
The estimated value of global Diabetes Associated Ophthalmic Treatment market in 2020 was accounted to be US $ 26.14 Bn
The projected CAGR of Diabetes Associated Ophthalmic Treatment during the analysis period of 2021 to 2028 is 6.9%
Asia-Pacific region exhibited fastest growing CAGR for Diabetes Associated Ophthalmic Treatment during the analysis period of 2021 to 2028