The size of the Diabetic Retinopathy Market in North America was worth USD 2.60 billion in 2022 and is projected to reach USD 3.49 billion by 2027, growing at a CAGR of 6.05% during the forecast period.
Diabetic retinopathy plays a significant role in diagnosing damaged blood vessels in the retina of an eye, and this is considered a primary factor for the market to grow. Increasing the incidence of diabetes is propelling the demand of the market. Also, the rise in the investments by both private and public organizations on expanding healthcare centers is boosting up the growth of the market. Besides, growing obesity problems due to the adoption of sedentary lifestyles and changes in food habits are straight leveling up the demand of the market in North America.
However, the lack of skilled persons in monitoring the systems is quietly declining the market's growth. In addition, the cost of installation and maintenance of the devices is very high, impeding the growth of the North American diabetic retinopathy market. The challenging factor for the market developers is rising risk and adverse effects due to the long-term use of the medicines.
Increasing expenditure on healthcare is ascribed to bolster the demand of the market. The rising need to provide adequate health management services in every healthcare center is fuelling the market's growth. Increasing specialty care hospitals with the latest equipment is to set up growth opportunities for the market. In addition, the growing elderly population is elevating the demand of the market.
This research report on the North American diabetic retinopathy market has been segmented and sub-segmented into the following categories:
By Treatment Type:
Based on the region, the U.S. diabetic retinopathy market is estimated to hold the most significant share in the North American market. Rising awareness over the treatment procedures in urban areas, growing disposable income, increasing demand for effective treatment procedures is key attributes surging the U.S. diabetic retinopathy market.
The Canadian diabetic retinopathy market is forecasted to be growing at a promising CAGR during the forecast period. The growing number of surgical treatments, rise in the emergence of laser treatment procedures, and growing support from the government by launching reimbursement schemes in favor of ordinary people are major factors spurring the growth of the diabetic retinopathy market in Canada.
KEY MARKET PLAYERS:
Companies such as Bayer AG, Pfizer Inc., Hoffmann-La Roche Ltd., Regeneron Pharmaceutical Inc., Novartis AG, Valeant Pharmaceutical International Inc., Abbott Laboratories Inc., Alimera Science Inc., and Ampio Pharmaceuticals Inc. are playing a leading role in the North American diabetic retinopathy market.
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