The unprecedented growth is presumed to be a consequence of the growing prevalence of retinal eye disorders such as retinal detachment, macular degeneration, amblyopia, and others.
The Retinal Surgery Devices Market size is expected to hit around US$ 13.06 billion by 2030 from valued at US$ 11.56 billion in 2020, growing at a CAGR of 17.8% during forecast period 2021 to 2030.
Growth Factors
The unprecedented growth is presumed to be a consequence of the growing prevalence of retinal eye disorders such as retinal detachment, macular degeneration, amblyopia, and others. Rising patient preference for minimally invasive surgeries is believed to be one of the major growth of contributory factors. The increasing demand is predicted to be a result of associated benefits such as improved cost-efficiency, safety, rapid recovery, efficacy, and reduced hospital stay. Other advantages include fewer incision wounds and reduced postsurgical complications that lead to higher patient satisfaction.
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The market is also driven by technological upgradations that are responsible for the heightened inclination of physicians, thereby, widening the scope for greater adoption of retinal surgery devices in the future. The technologically advanced devices are equipped with fundus imaging units, micro-incision technology, endoillumination systems. These advancements are primarily witnessed in surgical instrumentation to facilitate easy & safe operative procedures. For instance, the launch of VersaVIT 2.0 vitrectomy machine is equipped with an LED illumination system, 3 vitrectomy packs, and adjustable chandelier fiber. Similarly, 23-Gauge fragmentation needle eliminates the need to enlarge sclerotomy and achieve enhanced visualization, intraoperative efficiency, and control.
| Report Scope | Details |
| Market Size in 2030 | USD 13.06 Billion |
| Growth Rate from 2021 to 2030 | CAGR of 17.8 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Data | 2021 to 2030 |
Report Highlights
The vitrectomy packs accounted for the largest share in the product segment. The dominant share registered by this segment is presumed to be a result of high adoption in a wide array of applications such as in posterior vitreous detachment, vitreous removal in mobile retina, epiretinal membrane removal, and combined retinal surgical procedures. The aforementioned factors are expected to be some of the key factors accentuating demand over the years.
Associated benefits with vitrectomy packs such as high portability, sensitivity, and optical magnification are responsible for the emergence of vitrectomy packs as the dominant segment. Furthermore, these products are relatively less harmful to the areas surrounding the intended surgical part. They are also used to gain greater clarity, save operating room start-up time, and achieve high-cost efficiency by a significant decrease in expenses and waste per surgery.
In addition, vitrectomy packs are considered an essential part of vision care instrumentarium and have a wide range & easy availability which drives the inclination of ophthalmologists to increasingly adopt this product. In the present scenario, there are certain manufacturers that are consistently striving to develop all-in-one vitrectomy packs which will be able to replace other essential tools.
The technological improvements in vitrectomy packs are anticipated to widen an array of alternatives for vitreoretinal surgeons. The technical improvements will result in greater incision speed & smaller incisions to yield positive patient outcomes such as decreased postoperative inflammation and conjunctival scarring, thereby, obviating the need for suturing. These factors are presumed to be responsible for the emergence of vitrectomy packs as the largest product segment in 2021.
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Diabetic retinopathy held a substantial share in 2021, as a consequence of the increasing prevalence of diabetes, which is predicted to bolster the demand for the market. High demand for illumination equipment & laser projection devices in the treatment, to curb the high incidence levels, has widened the scope for growth over the previous years.
The rising number of ophthalmology conferences and exhibitions to promote awareness amongst physicians, pertaining to the availability of a wide range of alternatives for the treatment of this condition and efficient training with respect to usage of retinal surgery devices in disease management is also a key contributing factor to the segment growth.
The presence of government organizations involved in formulating guidelines and recommendations and tracking its proper implementation for efficient screening & management serves as a key factor fueling the adoption of retinal surgery devices. For instance, diabetic retinopathy guidelines issued by the Royal College of Ophthalmologists that focuses on screening, retinal lasers application, and its aspects in diabetic retinopathy.
Hospitals accounted for the largest share in the end-use segment in 2021, which can be attributed to the high patient turnaround volume and frequent readmissions. Supportive infrastructure facilitates successful surgical procedures, which mandates the adoption of retinal surgery devices, thus, resulting in a higher share of hospitals.
The growing number of government initiatives focused on promoting efficient treatment facilities to generate quick results and improve overall healthcare efficiency also served as key contributing factors. These factors cumulatively are responsible for hospitals capturing a larger share in the end-use segment.
The increasing inclination of public & private healthcare organizations to promote advanced retinal surgery devices to yield better patient outcomes serves as one of the key factors responsible for the substantial share of the segment. Furthermore, hospitals are increasingly using fully automated systems that possess the ability to detect disease conditions at early stages.
Eye clinics are presumed to witness constant growth throughout the forecast period. This can be attributed to the rising importance of emergency medicine and specialty care. In the present scenario, emerging eye clinics are known to be equipped with highly advanced surgery tools thereby facilitating early detection as well as treatment.
North America accounted for the major share in the retinal surgery devices market in 2021. A consistent number of strategic collaborations aimed at the development of a new generation of products is responsible for the substantial share. Enforcement of stringent regulatory and reimbursement framework striving to ensure patient safety & high medical device standards are anticipated to propel the demand in this region.
The substantial share registered by North America is due to the growing base of the obese populations that are highly susceptible to diabetes and consequentially diabetic retinopathy. The growing number of minimally invasive surgeries resulted in garnering a significant share of this market. The region has witnessed greater adoption of these devices over the past years, is an efficient aid that provides enhanced guidance in minimally invasive surgeries.
Asia Pacific is anticipated to grow at a lucrative rate during the forecast period. Emerging economies in the region, such as India and China, are witnessing strong economic growth. Growing prevalence of disease and enhancing infrastructural standards have spurred the demand for advanced & minimally invasive treatment across this region.
Key Players
Bausch & Lomb Incorporated, IRIDEX Corporation, Synergetics, Inc
Market Segmentation
- Product Outlook
- Vitrectomy Machines
- Vitrectomy Packs
- Surgical Instruments
- Microscopic Illumination Equipment
- Retinal Laser Equipment
- Photocoagulation Devices
- Photodisruption Devices
- SLT
- Others
- Application Outlook
- Diabetic Retinopathy
- Retinal Detachment
- Epiretinal Membrane
- Macular Hole
- Others
- End-use Outlook
- Hospitals
- Eye Clinics
- Others
- Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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