The global diabetes associated ophthalmic treatment market size is expected to reach USD 44.7 billion by 2028 and 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.
COVID-19 related diabetic and ophthalmic complications are expected to boost the market for diabetes associated ophthalmic treatment methods. COVID-19 has a long-term effect on diabetic conditions. T
his is expected to increase the demand for treatment procedures in upcoming years. An 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.
The diabetic retinopathy segment has captured the largest revenue share in 2020 followed by diabetic associated macular degeneration and glaucoma.
The drugs segment dominated the market and accounted for the highest revenue share in 2020 owing to factors such as the presence of major key players operating in the global market, high adoption rate, increased clinical trials to develop innovative drugs.
The hospitals segment is predicted to witness the fastest growth rate over the forecast timeframe due to the increasing number of patient visits and advanced infrastructure in hospitals as compared to other healthcare facilities. An increasing number of hospital admissions of diabetes patients is boosting the demand for the segment, thereby propelling the growth.
North America held the largest revenue share in the market and is expected to maintain its dominance over the forecast period.
Market Dynamics
Market Drivers Analysis
Increasing prevalence of diabetes
Advancements in the technology for efficient treatment
Increasing governments initiatives
Market Restraint Analysis
Lack of skilled ophthalmologists
Market Opportunity Analysis
Increasing demand for diabetic ophthalmic diseases treatment to avoid visual impairment
Voxtur Analytics Corp. , a North American technology company creating a more transparent and accessible real estate lending ecosystem, is pleased to announce that it has engaged the services of ICP Securities Inc. ("ICP") to provide automated market...
On April 19, 2024, the board of directors of Portland General Electric Company declared a quarterly common stock dividend of $0.50 per share, representing an increase of 5.3%, or $0.10 per share, on an annualized basis.
The company's dividend is...
Adyton Resources Corporation ("Adyton" or the "Company") announces it has closed its previously announced non-brokered private placement offering, pursuant to which it has issued 50,000,000 common shares of the Company ("Shares") at a price of...
Building on a successful phase one in which STChealth proved that the Universal Patient Identifier (UPI)?powered by Experian Health's Universal Identity Manager (UIM) and NCPDP Standardstm?can accurately identify patients across multiple datasets in...
Lion Group Holding Ltd. ("Lion" or "the Company") , the operator of an all-in-one trading platform that offers a wide spectrum of products and services, today announced that on April 18, 2024, it received a delinquency notification letter from the...
Cosmos Health Inc. ("Cosmos Health" or the "Company'') , a diversified, vertically integrated global healthcare group engaged in innovative R&D, owner of proprietary pharmaceutical and nutraceutical brands, manufacturer and distributor...