According to the latest report by IMARC Group, titled “Retinal Surgery Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global retinal surgery devices market size reached US$ 1.9 Billion in 2019. Eyes represent one of the vital sensory organs in the human body, which assist in sending visual impulses to the brain. Any damage or infection in the eyes needs to be treated with the utmost care and precautions. Consequently, retinal surgery devices, such as vitrectomy packs, surgical instruments, vitrectomy machines, retinal laser equipment and microscopic illumination equipment, are utilized for treating retinal diseases like macula pucker, diabetic retinopathy and macular hole. These devices are generally produced using stainless steel and medical-grade silicon for improved sterility.
Global Retinal Surgery Devices Market Trends:
According to the World Health Organization (WHO), an estimated 1.6 Million deaths were directly caused by diabetes in 2016. Thus, the growing diabetic population, in confluence with the rising prevalence of diabetic retinopathy and other chronic retinal eye diseases, represents one of the significant factors bolstering the market growth. Diabetic retinopathy is a serious sight-threatening complication, which causes progressive damage to the retina and affects the retinal circulatory system. Apart from this, leading manufacturers in the industry are increasing their research and development (R&D) activities to introduce innovative surgical devices, which are equipped with fundus imaging units, micro-incision technology and endoillumination systems. These devices aid in enhancing intraoperative efficiency, visualization and control. Furthermore, the widespread adoption of minimally invasive (MI) surgical procedures that lead to only minor scarring and minimize pain and discomfort is anticipated to boost the demand for retinal surgery devices in the upcoming years. Looking forward, the market value is projected to reach US$ 2.8 Billion by 2025, expanding at a CAGR of 6.5% during the forecast period (2020-2025).
- Based on the equipment type, the market has been segmented into vitrectomy machines, retinal laser equipment and surgical instruments. Amongst these, surgical instruments are further segregated into cannulas, forceps, cutters, cryoprobes and others.
- On the basis of the application, the market has been divided into diabetic retinopathy, retinal detachment and others.
- The market has been analyzed on the basis of end use into hospitals, ophthalmology clinics and others.
- Region-wise, the market has been classified into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Alcon Vision LLC, Bausch & Lomb Incorporated, Carl Zeiss AG, Ellex Medical Lasers Ltd., Erbe Elektromedizin GmbH, Escalon Medical Corp., Iridex Corporation, Leica Microsystems GmbH, Lumenis Ltd., Nidek Co. Ltd., Optos PLC, Second Sigh Medical Products Inc., Synergetics USA, Inc. and Topcon Corporation.
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