Factors contributing to high CAGR are growing prevalence of diabetes along with rising incidence of blindness. Moreover, increase in purchasing power and the dread of losing vision have augmented the expenditure by patients to avail the indispensable treatment, thus fueling the overall growth and stability of the diabetic retinopathy market
Market Size – USD 7.39 billion in 2018, Market Growth – CAGR of 7.3%, Market Trends – Product Launches and Research for Advanced Tech Developments
NEW YORK, June 06, 2019 (GLOBE NEWSWIRE) -- Based on current analysis, the global diabetic retinopathy market was valued at USD 7.39 billion in 2018 and is expected to reach USD 13.04 billion by 2026, at a CAGR of 7.3%. Diabetic retinopathy is a diabetes obstacle that affects eyes. It's caused by damage to the blood vessels of the light-sensitive tissue at the back of the eye (retina). Diabetic retinopathy usually affects both the eyes. As the condition progresses, diabetic retinopathy symptoms typically include; spots or dark strings floating in your vision (floaters)blurred vision, fluctuating vision, impaired color vision, dark or empty areas in your vision and also vision loss. Diabetic retinopathy damages the blood vessels within the retinal tissue, causing them to leak fluid and distort vision. Excess of sugar intake in blood can lead to the blockage of the tiny blood vessels that nourish the retina, cutting off its blood supply. As a result, the eye attempts to grow new blood vessels; nonetheless, these new blood vessels don't mature properly and can leak easily. There are two types of diabetic retinopathy viz, early diabetic retinopathy and advanced diabetic retinopathy.
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The line of treatment for diabetic retinopathy depends exclusively on extremity of the condition and may require intraocular injections, anti-VEGF drugs, laser surgery or vitrectomy. Growing incidence of diabetes, along with rising incidence of blindness because of diabetes, is predicted to drive the market growth during the forecast period. Moreover, increase in purchasing power and the dread of losing vision have augmented the expenditure by patients to avail the indispensable treatment. Availability of advanced technology and minimal pain inducing laser procedure topped with quick recovery is likely to promote patients’ inclination to adopt surgical treatments. North American section accounted for the largest share of 36.8% due to the supportive compensation strategies, and increasing prevalence of diabetes.
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This report about global diabetic retinopathy market forecasts revenue growth at a global, regional and country level also, provides an analysis on the industry trends in each of the sub segments from 2016 to 2026. For the purpose of this study, the market is segmented on the basis of type, management, distribution channel and regions:
Type (Revenue in USD Million; 2016–2026)
Management (Revenue in USD Million; 2016–2026)
Distribution channel (Revenue in USD Million; 2016–2026)
Regional Outlook (Revenue in USD Million; 2016–2026)
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