Retinal diseases vary widely, but most retinal diseases cause visual symptoms and can affect any part of the retina. The various equipment and accessories used for surgically repairing torn or detached retinas are retinal surgery devices. Worldwide, devices are usually manufactured using stainless steel and medical-grade silicon for better sterility. The common symptoms of retinal diseases are blurred or distorted vision, defects inside vision or lost vision. Globally, Retinal surgeries devices are used to repair retinal torn or detached retinas through laser surgery, cryotherapy. Apart from this, the devices are also used in diabetic retinopathy and other ophthalmic procedures. According to Renub Research, the Global Retinal Surgery Device Market is projected to reach US$ 2.70 Billion by 2027.
Factors Driving the Retinal Surgery Device Industry
Furthermore, globally surging geriatric population, age-related eye disorders, say glaucoma, cataract which can cause loss of vision, is also giving traction to the market growth. More on this, macular degeneration, diabetic retinopathy currently represents the driving force towards this market. Also, worldwide, there is widespread adoption of minimally invasive surgical procedures for the treatment of such diseases, which offer various benefits like minimal pain and discomfort and quick recovery. As per this research report, Worldwide Retinal Surgery Device Market Size was valued at US$ 1.59 Billion in 2020.
Some Facts
As per WHO, by 2050, the world population aged 60 years and older is likely to be 2 billion.
The National Diabetes Statistics stated, one often is suffering from diabetes, around 9.4% of the total United States population.
Diabetic retinopathy impacts nearly 7.7 million Americans and the number likely to surge to 11.3 million by 2030.
COVID-19 Impact
The COVID-19 pandemic has spread worldwide; millions of people around the globe are infected with COVID-19 disease. Restriction and lockdowns have impacted retinal surgery as most of the medical strength have been assigned to fight the pandemic. But we believe the scenario to improve in future.
By Product
We have covered the Global Retinal Surgery Device market into Vitrectomy Machines, Vitrectomy Packs, Surgical Instruments, Microscopic Illumination Equipment, Retinal Laser Equipment and Others. Vitrectomy Pack is one of the key segments in by product category due to its adoption in the application such as combined retinal surgical procedures, vitreous removal in the mobile retina, epiretinal membrane removal, in posterior vitreous detachment procedures. As per our research analysis, Global Retinal Surgery Device Industry is likely to grow at a CAGR of 7.86% from 2020-2027.
By Application
We have studied the Global Retinal Surgery Device market into Diabetic Retinopathy, Retinal Detachment, Epiretinal Membrane, Macular Hole, and Others. Diabetic Retinopathy dominates the market during the forecast period as it can develop in people suffering from type 1 or type 2 diabetes. Approximately 463 million adults aged 20-79 years were living with diabetes, according to International Diabetes Federation (IDF). And by 2045, these figures would surge to 700 million adults. Also, 79% of adults who have diabetes were from developing nations.
Regional Analysis
We covered the region, North America, Latin America, Europe, Asia Pacific, Middle East & Africa in this report. The North American region holds the dominating position in the global retinal surgery device market. The key players playing a crucial role in the retinal surgery market globally are Topcon Corporation, Alcon AG, Carl Zeiss, Bausch Health Companies Inc and Iridex Corporation.
Renub Research latest report “Retinal Surgery Device Market, Global Forecast by Product (Vitrectomy Machines, Vitrectomy Packs, Surgical Instruments, Microscopic Illumination Equipment, Retinal Laser Equipment and Others), Application (Diabetic Retinopathy, Retinal Detachment, Epiretinal Membrane, Macular Hole, and Others), End Users (Hospitals, Eye Clinics and Others), Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), Company Analysis (Topcon Corporation, Alcon AG, Carl Zeiss, Bausch Health Companies Inc and Iridex Corporation)” provides complete details on Global Retinal Surgery Devices Industry.
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