Market Research Reports Search Engine forecasts the global diabetic macular edema market to grow from nearly US$ 3,710 Mn in 2017 to over US$ 4,100 Mn by 2027 end. This represents a CAGR of 1.1% over the forecast period of 2017– 2027. North America is projected to be the largest market in terms of value and accounted for the highest revenue share of 51.5% in 2016.
Ask for detailed Sample of the Research Report @ https://www.mrrse.com/sample/3438
Growing adoption of recently approved Intravitreal implants in North America
Before the launch of Lucentis for DME treatment in 2012, the use of intravitreally injected medications was less common in North America and laser photocoagulation was the primary treatment. However, Avastin and Macugen were being used off-label for diabetic macular edema treatment since 2004. Launch of three new products in 2014 viz. Eylea, Ozurdex and Iluvien, has led to the increased adoption of Intravitreal medications in North America. For instance, according to estimates of the University of Washington, before 2004, 5.75% of DME patients used Intravitreal injections, which increased to 20% by 2013. In 2016, over 70% of DME patients were utilising Intravitreal injections and implants. This sudden increase in the adoption of Intravitreal therapies can be attributed to the launch of low dose high efficacy corticosteroid implants for Intravitreal use. Uptake of Intravitreal implants by new patients as well as by patients previously treated with Intravitreal injections but who do not show any improvement, is expected to push the market for diabetic macular edema in the region.
Growing economic burden of diabetes and related disorders
Diabetic Macular Edema (DME) is a leading cause of blindness among the working age population in most developed countries. DME is one of the major complications of diabetes and DME patients utilise significantly higher healthcare resources than non-DME diabetic patients. As per a survey conducted by the University of Washington, the total yearly median cost for DME patients was reported to be US$ 14,678 and that for non-DME diabetic patients was US$ 6,801 in 2011. Moreover, DME patients have to visit their physicians for at least 30 days per year in contrast to an average of 14 visits per year in the case of non-DME diabetic patients. The growing incidences of diabetes across the globe further increase the burden of DME. According to the International Diabetic Federation (IDF), 382 Mn people worldwide have diabetes and the number is expected to grow to 592 Mn by 2035.
Request for complete TOC of this report @ https://www.mrrse.com/diabetic-macular-edema-market
Gaps in making DME a health priority hampering market growth in North America
Although control of diabetes is made a health priority in developed countries such as the U.S., much attention is not given to DME management and diabetes related caregivers tend to focus on the treatment of other diabetic complications. The major reason for this is the lack of effective treatment for DME. Even though anti-VEGF and corticosteroid therapies have changed the treatment paradigm, there exists a gap in patients’ clinical information among clinicians. Furthermore, there exists an error in industry sponsored and independently run clinical trials. For instance, there are approximately 72 independent clinical trials going on for DME treatment, but most of them lack long-term results regarding safety and efficacy on new and combination therapies for diabetic macular edema. These factors are hampering revenue growth of the diabetic macular edema market in North America. Western Europe is expected to be the most lucrative market for diabetic macular edema, with market attractiveness index of 2.7. Major players in the diabetic macular edema market, including Bayer AG and Novartis AG, are focussing on improving the sale of Eylea and Lucentis, respectively, in Europe. Companies are trying to exploit the full market potential and get maximum returns on R&D till patents for their drugs are alive. North America dominated the diabetic macular edema market in revenue terms in 2016, and the trend is projected to continue throughout the forecast period. North America is expected to be the second most lucrative among all regions, with an attractiveness index of 2.5. APEJ represents the third largest market with a market attractiveness index of 0.4. MEA is expected to remain the least attractive regional market for diabetic macular edema in revenue terms, with an attractiveness index of 0.1 over the forecast period.
Have a doubt? Speak to our analyst now! https://www.mrrse.com/enquiry/3438
About (MRRSE)
Market Research Reports Search Engine (MRRSE) is an industry-leading database of Market Research Reports. MRRSE is driven by a stellar team of research experts and advisors trained to offer objective advice. Our sophisticated search algorithm returns results based on the report title, geographical region, publisher, or other keywords.
MRRSE partners exclusively with leading global publishers to provide clients single-point access to top-of-the-line market research. MRRSE’s repository is updated every day to keep its clients and customers ahead of the next new trend in market research, be it competitive intelligence, product or service trends or strategic consulting.
Contact Us
State Tower
90, State Street
Suite 700
Albany, NY – 12207 (United States)
Telephone: +1-518-730-0559 (US- Canada Toll Free)
Email: sales@mrrse.com
Website: https://www.mrrse.com/
Read More Industry News At: https://www.industrynewsanalysis.com/