The global retinal surgery devices market is expanding at a CAGR of 7.3% within a forecast period ranging from 2014 to 2020. This market was valued at US$1.22 bn in 2013. According to a research report released by leading market intelligence firm, Transparency Market Research, this market is expected to move upwards to reach US$2.01 bn by the end of 2020. The reasons for this growth rate are explained in the report, titled “Retinal Surgery Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”
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The key drivers of the global retinal surgery devices market are the growing percentage of the geriatric demographic, the increasing popularity of using surgical instruments that are minimally invasive, and advancements in technology that are creating effective surgical options with reductions in healing time. These technological breakthroughs are expected to continue in the forecast period, further boosting the global retinal surgery devices market.
The report provides a segmented analysis of the global retinal surgery devices market according to product types and regions.
On the basis of product type, the report divides the global retinal surgery devices market into surgical instruments, microscopic illumination equipment, retinal laser equipment, vitrectomy machines, vitrectomy packs, and others. The segment of vitrectomy packs held the largest share in the global retinal surgery devices market in 2013, at 25%. The report’s authors further expect this segment to show the fastest growth rate under product types within the given forecast period. Factors that have resulted in this segment’s proliferation are low generation rates of waste per surgery, lower overall expenses, and major savings of time in terms of operation start-up.
In terms of application, the global retinal surgery devices market was led by diabetic retinoplasty in 2013 owing to a high prevalence of diabetes across the world. But in terms of market size, the current forecast period is expected to witness the growth of the retinal detachment segment towards the leading position.
On the basis of region, the report divides the global retinal surgery devices market into Asia Pacific, Europe, North America, and the Rest of the World. In 2013, 35% of the global retinal surgery devices market was held by North America, owing to a technological edge this region holds over others. On the other hand, Asia Pacific countries such as India, Australia, South Korea, and China are showing a rapid rate of growth, which is being attributed to a large labor force and a rapidly developing medical infrastructure that makes market penetration easier.
The key players in the global retinal surgery devices market, as mentioned in the report, are Optos Plc., Lumenis, Topcon Corporation, NIDEK CO., LTD., Leica Microsystems, Carl Zeiss Meditec AG, Alcon, Inc., IRIDEX Corporation, Synergetics, Inc., and Bausch & Lomb Incorporated.
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