The Europe Diabetic Retinopathy Market would witness market growth of 10.9% CAGR during the forecast period (2021-2027).
The availability of favorable reimbursement policies for ophthalmologic surgeries can boost the diabetic retinopathy market. Diabetic retinopathy is a progressive chronic eye disease that is majorly prevalent in geriatric people. Laser surgery not only helps to preserve vision, but it also helps to avoid further damage from proliferative diabetic retinopathy. Because of rapid advancements in the technologies that are used in the treatment of these disorders, elderly people and those in emerging economies are facing economic concerns as the cost of surgery rises. As a result, insurance providers like Medicaid and Medicare enact a number of policies aimed at lowering procedural costs, which helps the business flourish.
Technological improvements in ophthalmic diagnostic and surgical devices would accelerate the growth of the diabetic retinopathy market in the coming years. Optical coherence tomography along with other technologically advanced diagnostic technologies produces better cross-sectional images, allowing doctors to make better conclusions. Additionally, surgical instruments are more precise, which increases operation success rates. As a result, the availability of such improved ophthalmic instruments and devices has made diagnostic and surgical operations easier, which has benefited the industry's growth.
The diabetic retinopathy market in the region is estimated to grow significantly throughout the forecasting period due to the improving healthcare infrastructure along with advantageous reimbursement framework in developed European countries. Additionally, the prevalence of substantial medical requirements in expanding Eastern European economies, due to which, the regional market players are significantly increasing their efforts in order to fulfill these unmet demands of the population. Moreover, the rapidly increasing healthcare infrastructure of the region would enable healthcare practitioners to more effectively treat various disorders, including diabetic retinopathy, in people.
Further, in this region, the occurrence of diabetic retinopathy is found much higher in the patients who were suffering from type-II diabetes. According to the data shared by the National Library of Medicines, 3% to 4% of the people across Europe were affected with diabetic retinopathy in 2013
The Germany market dominated the Europe Diabetic Retinopathy Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $546 Million by 2027. The UK market is exhibiting a CAGR of 10% during (2021 - 2027). Additionally, The France market would display a CAGR of 11.7% during (2021 - 2027).
Based on Type, the market is segmented into Proliferative and Diabetic Macular Edema (DME). Based on Treatment Type, the market is segmented into Anti VEGF Drug, Steroid Implants, Laser Surgeries, and Vitrectomy. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Diabetic Retinopathy Market Size will Hit $7.7 Billion by 2027, at a CAGR of 11.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Allergan PLC (Abbvie, Inc.), Bayer AG, Alimera Sciences, Inc., Novartis AG, Pfizer, Inc., F-Hoffmann-La Roche Ltd., Ampio Pharmaceuticals-us, KOWA CO., LTD., Regeneron Pharmaceuticals, Inc., and Bausch Health Companies, Inc.
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