The competitive landscape of the market for diabetic macular edema market is a fragmented one that is characterized with the presence of quite a few large established players, according to a report that has been published by Future Market Research. The key vendors in the diabetic macular edema market are Valeant Pharmaceuticals International, Inc. (Bausch & Lomb Inc.), F. Hoffman-La Roche Ltd., Alimera Sciences Inc., Allergan Plc., Bayer AG, and Novartis AG. The major vendors of this market are now making research and development of diabetic macular edema as their focal point so as to stay ahead in this competitive market. These market vendors are also making every effort to expand their geographical reach through collaborations and associations with local players.
So far as geography is considered, the market for diabetic macular edema has been divided into Asia Pacific, Middle East and Africa, South America, North America, and Europe. Owing to the increasing prevalence of diabetes and subsequent blindness amongst many of them across the globe, the market is forecasted to soar expanding a stable CAGR during the forecast timeframe of 2017-2027.
Increasing Adoption of Intravitreal Implants in North America to Bolster Market Growth
The market for diabetic macular ederma has been segmented into four categories, namely on the basis of therapy type, by product type, by distribution channel and by region. On the basis of product form, the market for diabetic macular ederma has been categorized into intravitreal injections and intravitreal implants.
Before Lucentis was introduced for the treatment of diabetic macular ederma in the year 2012, the usage of intravitreally injected medications was quite limited in the region of North America. At the time, the main treatment for diabetic macular ederma was laser photocoagulation. However, there had been off-label use of Avastin and Macugen for the treatment of diabetic macular edema since the year 2004. Introduction of three new products in the year 2014, namely Iluvien, Ozurdex, and Eylea has led to the augmented adoption of Intravitreal medications in the region of North America. For instance, as the University of Washington estimates that before the year 2004, 5.75% of diabetic macular ederma patients have used intravitreal injections. The figure was increased by 20% in the year 2013. By the year 2016, more than 70% of the total diabetic macular ederma patients were using intravitreal implants and injections. Low dose and high efficacy of corticosteroid implants for the purpose of intravitreal use is the main reason behind the increased adoption of intravitreal therapies. Adoption of intravitreal implants by new patients of diabetic macular ederma and also by patients who did not exhibit signs of improvement after being treated with intravitreal injections is predicted to stimulate the market for diabetic macular edema in North America.
Diabetic Macular Ederma Induced Blindness Amongst Working Age People Due To Bolster Market Growth
The main cause of blindness amongst the working age population has been diabetic macular edema in many of the developed countries. Diabetic macular ederma has been one of the major and leading complications that result out of diabetes and diabetic macular ederma patients make use of substantially higher and better healthcare resources than those patients who do not suffer from diabetic macular ederma. On the basis of a survey that was carried out by the University of Washington, a total yearly median cost for diabetic macular ederma patients was calculated to be around US$ 14,678 and the same for non- diabetic macular ederma diabetic patients was around US$ 6,801 in the year 2011. Furthermore, patients suffering from diabetic macular ederma patients are required to visit their doctors for a minimum of 30 days in a year as opposed to an average of 14 visits every pear year by the patients who are diabetic but not a patient of diabetic macular ederma.
There has been increasing prevalence of diabetes worldwide, therefore further increasing the burden of diabetic macular ederma. This review is as per the findings of a new report by Future Market Research titled, “Diabetic Macular Edema Market: APEJ to Remain Third Largest Regional Market During the Forecast Period: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027.”
Queries regarding these research findings can be addressed to Future Market Insights’ analysts at firstname.lastname@example.org