Diabetic Retinopathy

Diabetic Retinopathy Market Outlook

The global diabetic retinopathy market is projected to reach approximately USD 15.4 billion by 2035, exhibiting a robust compound annual growth rate (CAGR) of 7.1% from 2025 to 2035. This growth can be attributed to several factors, including the increasing prevalence of diabetes globally, rising awareness about diabetic retinopathy, advancements in treatment options, and the growing aging population who are more susceptible to the disease. Moreover, the integration of novel technologies in diabetic retinopathy diagnosis and treatment, alongside government initiatives promoting eye health, are expected to further propel market growth. The rising demand for more effective treatment methodologies and the development of innovative drug therapies are set to significantly affect market dynamics, favoring both patients and healthcare providers alike.

Growth Factor of the Market

The diabetic retinopathy market is experiencing significant growth fueled by a range of factors. Firstly, the global rise in diabetes cases has been alarming, with projections suggesting that by 2030, around 643 million people will be affected by diabetes, intensifying the prevalence of diabetic retinopathy. Secondly, advancements in medical technologies and treatment options, such as the development of intravitreal injections and laser therapies, are enhancing the effectiveness of managing this condition. Furthermore, increased healthcare expenditure and improved access to ophthalmic treatments, particularly in developing regions, contribute positively to market growth. A third factor is the rising awareness among patients and healthcare professionals regarding the importance of early detection and treatment of diabetic complications, which encourages regular eye check-ups. Additionally, the integration of telemedicine in diabetes care is facilitating timely intervention for diabetic retinopathy, further strengthening market potential.

Key Highlights of the Market

• The global diabetic retinopathy market is expected to grow at a CAGR of 7.1% from 2025 to 2035.
• North America holds the largest share in the diabetic retinopathy market, attributed to advanced healthcare infrastructure and high prevalence rates of diabetes.
• Anti-VEGF drugs are anticipated to dominate the treatment type segment due to their effectiveness in managing diabetic macular edema.
• Proliferative diabetic retinopathy is expected to witness significant growth owing to rising diabetic patients leading to more severe forms of the disease.
• The increasing adoption of teleophthalmology is set to improve accessibility to eye care services, particularly in rural and underserved areas.

By Type

Non-Proliferative Diabetic Retinopathy:

Non-proliferative diabetic retinopathy (NPDR) is categorized as the early stage of diabetic retinopathy and is characterized by the presence of microaneurysms, retinal hemorrhages, and exudates. This form of diabetic retinopathy significantly impacts millions of individuals worldwide, particularly those with extended periods of diabetes. The increasing incidence of diabetes globally contributes to the growing prevalence of NPDR, making it a crucial segment within the diabetic retinopathy market. Furthermore, regular screening and early intervention strategies are essential for preventing NPDR from progressing to proliferative diabetic retinopathy. As awareness related to diabetic complications rises, there is an increase in demand for effective diagnostic tools and treatments aimed at mitigating the effects of NPDR, which in turn stimulates market growth. The development of therapies focused on managing NPDR symptoms is expected to enhance the overall quality of life for patients diagnosed with this condition.

Proliferative Diabetic Retinopathy:

Proliferative diabetic retinopathy (PDR) represents a more advanced stage of diabetic retinopathy where new blood vessels develop in the retina, leading to complications, including vision loss. This condition poses serious risks and is one of the leading causes of blindness among adults globally. The rising prevalence of diabetes, combined with the aging population, is anticipated to escalate the incidence of PDR, consequently driving market growth. Key treatment modalities for PDR include anti-VEGF injections and laser photocoagulation, both of which are becoming increasingly accessible. The urgency for effective treatments for PDR is leading to innovations in drug development, further expanding the market landscape. As healthcare systems increasingly prioritize eye health, the emphasis on early diagnosis and intervention for PDR is likely to foster growth in this segment, ultimately aiming to reduce the burden of vision impairment in diabetic patients.

By Treatment Type

Anti-VEGF Drugs:

Anti-VEGF (Vascular Endothelial Growth Factor) drugs have emerged as a primary treatment for diabetic retinopathy, especially for managing diabetic macular edema. These drugs work by inhibiting the action of VEGF, which is responsible for the formation of abnormal blood vessels in the retina. The effectiveness of anti-VEGF therapies in preserving and improving vision has significantly contributed to their popularity among healthcare practitioners and patients alike. As the diabetic population continues to grow, the demand for these innovative therapies is expected to rise, thereby driving market growth. With ongoing research and development efforts, new anti-VEGF agents are being introduced, further broadening treatment options and enhancing patient outcomes. The increasing adoption of these drugs in clinical settings is also supported by positive reimbursement policies, which are facilitating better access for patients requiring care.

Corticosteroids:

Corticosteroids are another critical treatment option for diabetic retinopathy, primarily utilized in cases where anti-VEGF drugs may not be effective or suitable. These medications help reduce inflammation and can effectively manage diabetic macular edema. The ability of corticosteroids to provide rapid relief and improve retinal health makes them a valuable addition to the therapeutic arsenal against diabetic retinopathy. Although there are concerns regarding potential side effects, such as cataract formation and elevated intraocular pressure, ongoing advancements in drug formulation and delivery methods are helping to mitigate these risks. As awareness regarding their usage continues to grow, corticosteroids are expected to maintain a significant share within the treatment segment of the diabetic retinopathy market. The introduction of long-acting corticosteroid implants is also projected to enhance patient adherence and treatment effectiveness, ultimately benefiting the overall market landscape.

Laser Surgery:

Laser surgery remains a cornerstone in the treatment of diabetic retinopathy, particularly for patients with proliferative diabetic retinopathy or significant retinal damage. This technique involves using focused laser beams to target and treat abnormal blood vessels in the retina, thereby preventing further vision loss. The procedure is known for its efficiency and minimal invasiveness, making it a preferred option among ophthalmologists. Technological advancements in laser systems have significantly improved the precision and outcomes of laser treatment, elevating its role in clinical practice. As healthcare providers increasingly recognize the importance of timely intervention for diabetic retinopathy, the demand for laser surgical techniques is expected to grow. Furthermore, the ability to combine laser therapy with other treatment modalities, such as anti-VEGF injections, is anticipated to yield improved clinical outcomes, reinforcing the position of laser surgery in the diabetic retinopathy treatment landscape.

Vitrectomy:

Vitrectomy is a surgical procedure indicated for patients with advanced diabetic retinopathy who may be experiencing complications such as vitreous hemorrhage or tractional retinal detachment. This procedure involves the removal of the vitreous gel from the eye, allowing for better access to the retina for treatment. Vitrectomy has proven to be an effective solution for restoring vision in severe cases of diabetic retinopathy. As surgical techniques improve and postoperative care becomes more refined, the outcomes of vitrectomy continue to enhance patient satisfaction and quality of life. The rising incidence of advanced diabetic retinopathy necessitates the availability of surgical options, thereby driving the vitrectomy market. Additionally, ongoing research into less invasive approaches and innovative surgical technologies is likely to propel future advancements in this treatment modality, further cementing its role in managing diabetic retinopathy.

By User

Hospitals:

Hospitals play a pivotal role in the diabetic retinopathy market, serving as primary healthcare institutions where patients receive comprehensive eye care. Many hospitals are equipped with advanced diagnostic tools and treatment facilities, allowing for timely and effective management of diabetic retinopathy. The increasing patient influx with diabetes-related complications is driving growth within hospital settings, where ophthalmology departments are expanding their services to cater to this demand. Moreover, collaborations between hospitals and research institutions are facilitating the development of innovative approaches to diagnosing and treating diabetic retinopathy. The integration of multidisciplinary healthcare teams in hospitals also enhances overall patient care, ensuring a comprehensive approach to managing diabetic complications. As healthcare systems evolve, hospitals are set to remain at the forefront of diabetic retinopathy management, contributing significantly to market expansion.

Clinics:

Clinics serve as essential venues for diabetic retinopathy management, providing accessible and specialized care for patients with diabetes. These facilities often focus on preventive care, early detection, and routine monitoring of diabetic eye conditions, which is vital for minimizing the risk of vision loss. The rise of outpatient clinics dedicated to ophthalmology and diabetes care is particularly noteworthy, as they offer patients convenient access to screenings and treatments. The availability of telehealth services within clinics is further enhancing patient engagement and facilitating timely follow-ups, contributing to better management of diabetic retinopathy. Increased patient awareness regarding the importance of regular eye exams and innovative clinic-based interventions are expected to drive growth in this segment. Clinics are also instrumental in educating patients about diabetes management, which ultimately plays a crucial role in preventing the onset of diabetic retinopathy.

Ambulatory Surgical Centers:

Ambulatory surgical centers (ASCs) are becoming increasingly important in the diabetic retinopathy treatment landscape, providing an efficient and cost-effective alternative to traditional hospital settings. These centers are designed for outpatient procedures, allowing patients to receive care without the need for overnight hospitalization. The convenience and lower associated costs of ASCs attract a growing number of patients seeking treatment for diabetic retinopathy. Additionally, advancements in surgical techniques and technologies have enabled ASCs to offer a wide range of procedures, including laser treatments and vitrectomy. The shift towards outpatient care is supported by favorable reimbursement policies and increasing patient preferences for minimally invasive procedures. As ASCs continue to expand their services and capabilities, they are expected to play a significant role in the overall diabetic retinopathy market.

By Disease Stage

Mild:

The mild stage of diabetic retinopathy is typically characterized by the presence of microaneurysms and small retinal hemorrhages, with little to no visual impairment. Early detection during this stage is crucial, as it provides an opportunity for intervention to prevent disease progression. The growing awareness of the importance of regular eye examinations among diabetic patients is expected to drive the market for mild diabetic retinopathy treatments. Non-invasive monitoring techniques are increasingly being adopted for early detection, thereby enhancing the management of patients at this stage. Additionally, the focus on lifestyle modifications and diabetes management is contributing positively to the overall outlook of the mild diabetic retinopathy market. As more patients engage in proactive care, the growth potential for this segment remains optimistic.

Moderate:

Moderate diabetic retinopathy represents an intermediate stage where patients may experience more pronounced symptoms, including visual disturbances. The presence of extensive retinal changes necessitates closer monitoring and intervention to prevent progression to severe diabetic retinopathy. The market for moderate diabetic retinopathy treatment is bolstered by the increasing adoption of screening programs and advancements in therapeutic options. Healthcare providers are focusing on early intervention strategies to mitigate the impact of moderate diabetic retinopathy on patients' quality of life. With advancements in treatment modalities such as anti-VEGF therapies, the market is expected to witness robust growth. Patients diagnosed at this stage are more likely to seek effective treatment options, thereby driving demand within this segment.

Severe:

Severe diabetic retinopathy poses significant risks of vision loss, characterized by extensive retinal damage and the formation of abnormal blood vessels. As this stage is associated with the highest level of complications, the market for severe diabetic retinopathy treatment is expected to grow substantially. The urgency for effective therapeutic interventions such as laser surgery and vitrectomy is paramount, as timely treatment can prevent irreversible vision impairment. The rising prevalence of diabetes and associated complications is driving healthcare systems to prioritize severe diabetic retinopathy management, resulting in increased investments in advanced treatment options. Additionally, the development of novel drugs and technologies aimed at addressing severe diabetic retinopathy is expected to further enhance the treatment landscape. As awareness around the severity of diabetic retinopathy increases among healthcare providers and patients, demand for effective management strategies will significantly impact market growth.

By Region

The North American diabetic retinopathy market holds a significant share due to the high prevalence of diabetes and well-established healthcare infrastructure. The region is expected to witness a CAGR of 6.5% during the forecast period, driven by advancements in diagnostic techniques and increasing investments in research and development. The presence of major pharmaceutical companies and a robust network of ophthalmology specialists further strengthens the North American market. Moreover, government initiatives aimed at promoting diabetic eye care are contributing to heightened awareness and improved screening rates, ultimately enhancing the overall market outlook.

In Europe, the diabetic retinopathy market is also poised for considerable growth, propelled by rising diabetes prevalence and a growing elderly population. Germany, France, and the UK are among the leading countries contributing to the market expansion in this region. The increasing adoption of advanced treatment modalities, coupled with initiatives to improve access to eye care, is expected to drive the diabetic retinopathy market in Europe. Additionally, the growing emphasis on early diagnosis and preventive strategies is fostering a favorable environment for market development. As a result, the European diabetic retinopathy market is expected to maintain a competitive trajectory, supporting ongoing efforts to improve patient outcomes.

Opportunities

There are numerous opportunities within the diabetic retinopathy market, particularly in the realm of technological advancements. The development of artificial intelligence and machine learning algorithms for the early detection and diagnosis of diabetic retinopathy is set to revolutionize patient management. These technologies can analyze medical imaging data with high accuracy, enabling healthcare providers to identify retinal changes that may indicate the onset of the disease. Furthermore, telemedicine platforms that facilitate remote consultations and follow-ups are enhancing accessibility for patients, particularly in rural or underserved areas. By leveraging these innovations, healthcare providers can improve patient engagement and adherence to treatment regimens, ultimately leading to better health outcomes. Furthermore, the increasing global focus on preventive care and chronic disease management creates a favorable environment for the expansion of diabetic retinopathy screening programs, further propelling market growth.

Additionally, as the global healthcare landscape continues to evolve, there is an increasing emphasis on personalized medicine and patient-centered care. This shift opens up new opportunities for developing tailored treatment plans based on individual patient needs and disease progression. The rising demand for combination therapies that address multiple aspects of diabetic retinopathy is also notable, as it offers the potential for improved clinical outcomes. Pharmaceutical companies focusing on research and development in this area can capitalize on the growing need for innovative treatment options. Moreover, partnerships between healthcare providers, technology firms, and research institutions can foster the development of novel solutions that expand the diabetic retinopathy treatment landscape, ultimately benefiting patients and providers alike.

Threats

While the diabetic retinopathy market is experiencing robust growth, it is not without its challenges. One of the significant threats is the high cost associated with advanced treatment options, which may limit patient access, particularly in low to middle-income regions. The affordability of treatments such as anti-VEGF injections and surgical procedures may hinder timely intervention, leading to increased rates of vision loss among diabetic patients. Furthermore, reimbursement policies can vary significantly across regions, creating disparities in treatment access and patient outcomes. As healthcare systems grapple with budget constraints and prioritization of healthcare resources, the availability of innovative therapies may be jeopardized, impacting market growth. Additionally, the emergence of alternative treatment approaches, such as gene therapy and regenerative medicine, could disrupt the market dynamics as they evolve and gain traction within the healthcare community.

Another concerning aspect is the potential for inadequate training among healthcare professionals in recognizing and managing diabetic retinopathy. A lack of specialized knowledge can lead to misdiagnosis or delayed treatment, ultimately affecting patient outcomes. As the prevalence of diabetes continues to rise globally, the demand for skilled practitioners in ophthalmology is expected to grow. However, if educational and training programs do not keep pace with this demand, there could be a detrimental effect on the quality of care provided. Addressing these threats will require concerted efforts from stakeholders in the healthcare industry to enhance training, improve access to care, and ensure that innovative treatments remain available and affordable to patients.

Competitor Outlook

• Novartis AG
• Bayer AG
• Regeneron Pharmaceuticals, Inc.
• Roche Holding AG
• Allergan plc
• Johnson & Johnson
• AbbVie Inc.
• Amgen Inc.
• Valeant Pharmaceuticals International, Inc.
• Merck & Co., Inc.
• Alimera Sciences, Inc.
• Pfizer Inc.
• Ophthotech Corporation
• Santen Pharmaceutical Co., Ltd.
• Horizon Therapeutics plc

The competitive landscape of the diabetic retinopathy market is characterized by the presence of various established pharmaceutical and biotechnology companies focused on developing innovative therapies and treatment options. Major players, such as Novartis AG and Bayer AG, have made significant investments in research and development to enhance their product portfolios for diabetic retinopathy. These companies often engage in strategic collaborations and partnerships with research institutions and healthcare providers to accelerate the development of their therapies. The emphasis on clinical trials and obtaining regulatory approvals for new treatments is a crucial aspect that shapes the competitive landscape, as successful outcomes not only boost a company's reputation but also significantly impact market share.

Regeneron Pharmaceuticals, Inc. is another key player in the diabetic retinopathy market, known for its pioneering work in anti-VEGF therapies. The company's flagship product, Eylea, has gained widespread recognition and has established a strong foothold in the market due to its effectiveness in treating diabetic macular edema. The ongoing commitment of Regeneron to research and innovation positions it favorably as a leader in the space. Additionally, the introduction of combination therapies and novel drug formulations is likely to strengthen the competitive advantage of companies that are agile in adapting to emerging market trends.

Furthermore, companies like AbbVie and Amgen are also focusing on the diabetic retinopathy market through their diverse portfolios and innovative treatment approaches. AbbVie's acquisitions and research efforts have expanded its presence in ocular diseases, while Amgen's commitment to biopharmaceutical development aligns with the needs of diabetic retinopathy management. As competition intensifies, it is essential for these companies to maintain a patient-centric focus and prioritize addressing unmet needs in the diabetic retinopathy treatment landscape. Established players with strong distribution networks and partnerships can leverage their capabilities to drive growth and enhance patient access to effective therapies.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 Bayer AG
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Amgen Inc.
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 AbbVie Inc.
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Novartis AG
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Pfizer Inc.
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Allergan plc
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Roche Holding AG
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Johnson & Johnson
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 Merck & Co., Inc.
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Alimera Sciences, Inc.
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Ophthotech Corporation
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Horizon Therapeutics plc
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Regeneron Pharmaceuticals, Inc.
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Santen Pharmaceutical Co., Ltd.
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Valeant Pharmaceuticals International, Inc.
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Diabetic Retinopathy Market, By Type
    • 6.1.1 Non-Proliferative Diabetic Retinopathy
    • 6.1.2 Proliferative Diabetic Retinopathy
  • 6.2 Diabetic Retinopathy Market, By User
    • 6.2.1 Hospitals
    • 6.2.2 Clinics
    • 6.2.3 Ambulatory Surgical Centers
  • 6.3 Diabetic Retinopathy Market, By Disease Stage
    • 6.3.1 Mild
    • 6.3.2 Moderate
    • 6.3.3 Severe
  • 6.4 Diabetic Retinopathy Market, By Treatment Type
    • 6.4.1 Anti-VEGF Drugs
    • 6.4.2 Corticosteroids
    • 6.4.3 Laser Surgery
    • 6.4.4 Vitrectomy

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Diabetic Retinopathy Market by Region
  • 10.6 Middle East & Africa - Market Analysis
    • 10.6.1 By Country
      • 10.6.1.1 Middle East
      • 10.6.1.2 Africa

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Diabetic Retinopathy market is categorized based on

By Type

• Non-Proliferative Diabetic Retinopathy
• Proliferative Diabetic Retinopathy

By Treatment Type

• Anti-VEGF Drugs
• Corticosteroids
• Laser Surgery
• Vitrectomy

By User

• Hospitals
• Clinics
• Ambulatory Surgical Centers

By Disease Stage

• Mild
• Moderate
• Severe

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Novartis AG
• Bayer AG
• Regeneron Pharmaceuticals, Inc.
• Roche Holding AG
• Allergan plc
• Johnson & Johnson
• AbbVie Inc.
• Amgen Inc.
• Valeant Pharmaceuticals International, Inc.
• Merck & Co., Inc.
• Alimera Sciences, Inc.
• Pfizer Inc.
• Ophthotech Corporation
• Santen Pharmaceutical Co., Ltd.
• Horizon Therapeutics plc