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Diabetic Retinopathy Market Growth Accelerated By Rising Prevalence Of Diabetes

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Dhanesha Patil
Diabetic Retinopathy Market Growth Accelerated By Rising Prevalence Of Diabetes

Diabetic retinopathy is a leading cause of vision loss in people suffering from diabetes. It is caused by damages to the blood vessels of the light-sensitive tissue (retina) at the back of the eye. Early detection and treatment can prevent or delay vision loss. Laser surgery, injections of corticosteroids or anti-VEGF drugs into the eye are commonly used to treat diabetic retinopathy. The global Diabetic Retinopathy Market is estimated to be valued at US$ 8.26 Bn in 2024 and is expected to exhibit a CAGR of 48.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.


Market key trends:

The rising prevalence of diabetes is one of the major factors driving the growth of the global diabetic retinopathy market. Diabetes increases the risk of developing diabetic retinopathy. According to data by the International Diabetes Federation, approximately 537 million adults (20-79 years) were living with diabetes in 2021 worldwide and by 2045 this number is projected to rise to 783 million. Diabetes has become one of the fastest growing chronic health conditions globally. Rise in geriatric population is another key trend fueling the market growth as older people are more susceptible to developing diabetic retinopathy. Furthermore, technological advancements in diagnostic devices for early detection and regular screening for diabetic retinopathy are promoting the market expansion.

Segment Analysis

Diabetic retinopathy market is segmented into non-proliferative retinopathy and proliferative retinopathy. Non-proliferative retinopathy is currently dominating the segment as it is an early stage of diabetic retinopathy where patients experience little to no vision loss. It has been estimated that majority of diabetic patients initially develop non-proliferative retinopathy.


Key Takeaways

The Global Diabetic Retinopathy Market Demand is expected to witness high during the forecast period of 2024 to 2031.

Regional analysis revealed that North America currently dominates the market due to high prevalence of diabetes, growing elderly population, and availability of advanced treatments. Asia Pacific is expected to be the fastest growing market due to rising diabetes incidence, growing health awareness, and developing healthcare infrastructure.


Key players operating in the Diabetic Retinopathy Market are IPT technology inc., Continental ag, Evatran group (plugless), Nidec mobility corporation, Renesas electronics, Powermat technologies, Qualcomm technologies, Robert Bosch Gmbh, Texas instruments, Toyota motor corporation, and Witricity. The global Diabetic Retinopathy Market is consolidated in nature with top players accounting for majority market share. Market leaders are focusing on new product launch and geographical expansion strategies to strengthen their market position.

Get more insights on this topic:  https://www.ukwebwire.com/diabetic-retinopathy-market-size-and-share-analysis-growth-trends-and-forecasts/

Explore more information on this topic, Please visit: https://lotstoexpress.com/decoding-life-navigating-health-landscape-with-genomic-biomarkers-as-compass-points/


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Dhanesha Patil
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