Diabetes Associated Ophthalmic Treatment Market size is expected to reach USD 44.7 billion by 2028

 Diabetes Associated Ophthalmic Treatment Industry Overview

The global diabetes associated ophthalmic treatment market size is expected to reach USD 44.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.5% from 2021 to 2028. The increasing prevalence of type II diabetes, geriatric population, and availability of early detection techniques are some of the factors driving the growth. This is coupled with technological advancements and increasing awareness of early diagnostics to help increase the success rate of the available treatment options. An increasing number of clinical trials to assess new drugs and devices for the prevention and management of these ophthalmic conditions are expected to fuel market growth in upcoming years.

 

Diabetes Associated Ophthalmic Treatment Market Segmentation

Grand View Research has segmented the global diabetes associated ophthalmic treatment market on the basis of application, type, end-use, and region:

 

Based on the Type Insights, the market is segmented into Drugs and Devices

  • The drugs segment dominated the market for diabetes associated ophthalmic and accounted for the largest revenue share of 57.6% in 2020. The drug segment comprises anti-glaucoma drugs, anti-inflammatory drugs, anti-VEGF drugs, anti-allergy drugs, and others. 
  • The drug segment is propelling due to factors such as the presence of major key players operating in the global market, high adoption rate, increased clinical trialsto develop innovative drugs. The devices segment is growing at a rapid pace accounted for a CAGR of 6.4% during the forecast period. The devices segment comprises refractive error surgical devices, glaucoma surgical devices, cataract surgical devices, vitreoretinal surgical devices, diagnostic devices, and visual aid devices.

 

Based on the End-use Insights, the market is segmented into Hospitals, Ophthalmic Centers, Ambulatory Surgical Centers, and Others

  • The hospital segment dominated the market for diabetes associated ophthalmic and accounted for the largest revenue share of 38.4% in 2020. An increasing number of hospital admissions of diabetes patients are boosting the demand for the segment, patients suffering from diabetes have a threefold chance of hospitalization compared with those without diabetes, thereby propelling the market growth.

 

Based on the Application Insights, the market is segmented into Dry Eye Syndrome, Glaucoma, Eye Allergy & Infection, Diabetic Retinopathy, Diabetic Associated Macular Degeneration, Uveitis, Cataract, Diabetic Macular Edema, and Others

  • The diabetic retinopathy segment dominated the market for diabetes associated ophthalmic and accounted for the largest revenue share of around 26.0% in 2020. Diabetic retinopathy is considered a critical medical condition that impacts the eyes of the patient leading to vision loss. According to the NCBI article (2014), around 1.5% of patients suffering from type II diabetes also have developed diabetic retinopathy, which leads to retinal neovascularization, hemorrhage, leakage of serum, and fibrovascular explosion in the vitreous retinal edge. 
  • Hence, if ignored, it may lead to severe blindness. Furthermore, increasing clinical trials for the approval of drugs used for the treatment of diabetic retinopathy is expected to boost the growth of the market for diabetes associated ophthalmic. For instance, North America accounted for the highest number of ongoing clinical trials i.e., 397, which is immediately followed by Europe accounting for 237 clinical trials.

 

Diabetes Associated Ophthalmic Treatment Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

 

Key Companies Profile & Market Share Insights

Key players are involved in adopting strategies such as mergers and acquisitions, partnerships, and the launch of new technologically advanced products and services to strengthen their foothold in the market. Key players are significantly investing in research and development to manufacture technologically advanced products.

Some of the prominent players in the diabetes associated ophthalmic treatment market include:

  • Alcon
  • Johnson & Johnson Services, Inc.
  • Bausch Health
  • Hoffmann-La Roche Ltd
  • Allergan
  • Bayer AG
  • Santen Pharmaceutical Co. Ltd.
  • Novartis AG
  • Pfizer, Inc.
  • Genentech, Inc.
  • Carl Zeiss Meditec
  • Lumenis
  • Ellex Medical Lasers Ltd.
  • IRIDEX Corp.
  • Topcon Corp.
  • Abbott Medical Optics
  • Quantel

 

Order a free sample PDF of the Diabetes Associated Ophthalmic Treatment Market Intelligence Study, published by Grand View Research.

 

 

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