Diabetes Associated Ophthalmic Treatment Industry Overview
The global diabetes associated ophthalmic treatment market size was valued at USD 27.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.5% from 2021 to 2028.
The factors influencing the market growth include the increasing prevalence of type II diabetes, the growing geriatric population, rising incidences of vision loss due to excess diabetic condition, increasing awareness regarding ophthalmic disorders, and inclination towards early diagnosis. Furthermore, advancements in technology have resulted in the invention of new and safer products to treat diabetes associated ophthalmic diseases. However, the lack of skilled ophthalmologists and the longer duration of drug approvals are expected to hinder the market growth.
Gather more insights about the market drivers, restrains and growth of the Global Diabetes Associated Ophthalmic Treatment Market
An increase in the incidence of diabetes due to aging, obesity, and an unhealthy lifestyle is one of the factors contributing to the growth of the market for diabetes-associated ophthalmic. Obesity is a major factor causing diabetes leading to the increased incidences of diabetes associated ophthalmic disorders. In 2017, the global incidence of diabetes was reported for around 22.9 million, the prevalence accounted for around 476.0 million, around 1.37 million deaths were reported due to diabetes, and disability-adjusted life-years (DALYs) associated with diabetes were reported to around 1.37 million. According to the WHO, in 2017, over 1.9 billion adults were overweight, of which, around 650 million people were classified as obese. Risk factors, such as obesity and overweight, are leading to an increase in the incidence of type II diabetes. Therefore, risk factors such as smoking, overweight, obesity, and high cholesterol are expected to boost the prevalence of type II diabetes.
Diabetes and ophthalmic conditions related to during and post-recovery of COVID-19 are expected to play an important market driver. Patients recovered from COVID-19 are showing long-term progressions in diabetic as well as ophthalmic conditions. Identification of new coronavirus strains is expected to increase the duration of the ongoing pandemic due to the limitation of the existing vaccines.
The increasing number of initiatives being undertaken by governments and nonprofit organizations to increase diabetes associated ophthalmic disease awareness is expected to boost the adoption of devices used for the treatment. Furthermore, WHO and IDF are working together to prevent and control diabetes and ensure good quality of life for people worldwide by providing accessible treatment facilities. For instance, WHO Diabetes Program is aimed at preventing type 2 diabetes, reducing complications, and improving quality of life. NGOs and governments are creating norms and standards, raising awareness about diabetes prevention, and promoting surveillance to strengthen the prevention and control of diabetes.
Browse through Grand View Research’s Medical Devices Industry Research Reports.
- Clinical Trials Market – The global clinical trials market size was valued at USD 47.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2030. However, the market growth was hindered in 2020 due to the COVID-19 pandemic.
- Diabetes Devices Market – The global diabetes devices market size was valued at USD 26.7 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.2% from 2022 to 2030. The market is primarily driven by factors such as an increase in technological advancements and rise in the incidences of obesity.
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:
Diabetes Associated Ophthalmic Treatment Application Outlook (Revenue, USD Million, 2017 – 2028)
- Dry Eye Syndrome
- Eye Allergy & Infection
- Diabetic Retinopathy
- Diabetic Associated Macular Degeneration
- Diabetic Macular Edema
Diabetes Associated Ophthalmic Treatment Type Outlook (Revenue, USD Million, 2017 – 2028)
Diabetes Associated Ophthalmic Treatment End-use Outlook (Revenue, USD Million, 2017 – 2028)
- Ophthalmic Centers
- Ambulatory Surgical Centers
Diabetes Associated Ophthalmic Treatment Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Market Share Insights
- July 2021: F. Hoffmann-La Roche Ltd. announced that it has received USFDA’s acceptance for Biologics License Application (BLA), for faricimab that is used for the treatment of diabetic macular edema (DME) and macular degeneration, and diabetic retinopathy as well.
Key Companies profiled:
Some prominent players in the global diabetes associated ophthalmic treatment market include
- Johnson & Johnson Services, Inc.
- Bausch Health
- F. Hoffmann-La Roche Ltd
- Bayer AG
- Santen Pharmaceutical Co. Ltd.
- Novartis AG
- Pfizer, Inc.
- Genentech, Inc.
- Carl Zeiss Meditec
- Ellex Medical Lasers Ltd.
- IRIDEX Corp.
- Topcon Corp.
- Abbott Medical Optics
Order a free sample PDF of the Diabetes Associated Ophthalmic Treatment Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Corporate Sales Specialist, USA
Grand View Research, Inc.
Toll Free: 1-888-202-9519
Email: [email protected]
Follow Us: LinkedIn | Twitter