The market for diabetic retinopathy is anticipated to develop as the prevalence of diabetes and the number of occurrences of diabetes-related blindness both rise. A 2017 research from the International Diabetic Federation estimates that 425 million adults between the ages of 20 and 79 have diabetes. The International Agency for the Prevention of Blindness estimates that one in three patients with diabetes have a high risk of developing diabetic retinopathy in 2016. Additionally, the global annual incidence of diabetic retinopathy ranges from 2.2% to 12.7%, according to a research published in The Lancet in 2018. The market for diabetic retinopathy is also anticipated to develop over the projected period as a result of several releases and approvals of novel drugs for the condition. Like EYLEA, an injectable of aflibercept for diabetes retinopathy, which Regeneron Pharmaceutical obtained FDA clearance for in May 2019. For diabetes retinopathy, EYLEA is the only vascular endothelial growth factor (VEGF) inhibitor that has been licenced in two dosage forms, allowing physicians to adapt the course of treatment to the individual needs of each patient.
Coherent Market Insights projects that the market for Diabetic Retinopathy was valued at USD 6.6 billion globally in 2021, and from 2022 to 2030, it is anticipated to expand at a CAGR of 6.4%.
Key Companies in the Diabetic Retinopathy Industry:
1. Novartis AG
The company was founded in March 1996 and has its main offices in Basel, Switzerland, and Cambridge, Massachusetts, in the United States. Novartis provides coverage for all types of medications, including authorization, over-the-counter, immunisations, diagnostics, eyewear, and veterinary care. Through its firms, Novartis engages in a number of direct activities, including managing, advertising, operations, and research.
2. Pfizer Inc.
The firm was stareted in 1849, and Manhattan, New York City, serves as its headquarters. For the medical specialities of immunology, cancer, heart, endocrinology, and neurology, Pfizer discovers and produces drugs and vaccines. Pfizer purchased Amplyx Pharmaceuticals in April 2021, along with the antifungal drug fosmanogepix (APX001The business successfully acquired Biohaven Pharma in October 2022, together with its calcitonin gene-related peptide programmes.
3. Abbott Laboratories
The company was established in 1888, and its US headquarters are in Chicago, Illinois. It sells wholesome products, name-brand generic drugs, medical equipment, and diagnostics. In January 2022, Abbott revealed the Lingo collection of consumer biowearable sensors. To optimise food and exercise regimens, Lingo collects a range of biological measures. Proclaim Plus from Abbott, a multipurpose spinal cord stimulation device for treating chronic pain, received FDA approval in August 2022.
4. Hoffmann-La Roche Ltd
The business is headquartered in Basel, Switzerland, and was founded in 1896. F. Hoffmann-La Roche AG provides cancer and transplant drugs in addition to in-vitro diagnostics. In March 2021, Roche declared that it would buy GenMark Diagnostics for $1.8 billion. To grow its molecular diagnostics business, the organisation declared in September 2021 that it will buy the German biotech firm TIB Molbiol.
5. Bayer Healthcare
The company was founded in 1863 and has its main office in Leverkusen, Germany. The pharmaceutical industry is served by Bayer HealthCare AG. The business provides various diabetes, consumer, and animal health medications. Pharmaceuticals, personal care items, seeds, agricultural chemicals, and biotech products are just a few of Bayer's commercial specialties.
6. Actavis Plc
The company was founded in 1984 and is located in New Jersey, United States. The company's primary business activities are the acquisition, development, production, and marketing of branded pharmaceuticals, generic and over-the-counter drugs, and biologic products. Allergan plc replaced Actavis plc as the company's name.
7. Sirnaomics
The business was started in 2007 and is based in Maryland, United States. The company Sirnaomics, Inc. is a biopharmaceutical enterprise. The company creates treatments for conditions causing ocular neovascularization. Phase I clinical trial for Sirnaomics' GalNAc Factor XI programme was started in April 2023. The 4th Annual RNAi-Based Therapeutics Summit will take place in March 2023, and Sirnaomics has announced plans to demonstrate the most recent developments in its polypeptide nanoparticle platform.
*Definition: One of the consequences of diabetes is diabetic retinopathy, in which blood vessels in the retina are harmed by high blood glucose levels. The light-sensitive inner lining of the retina is located in the rear of the eye.
