Retinal surgery market growth is driven by expanding healthcare facilities in emerging markets and rising awareness about eye health.

AUSTIN, TX, UNITED STATES, November 8, 2024 /EINPresswire.com/ -- The Retinal Surgery Market was estimated at USD 2.46 billion in 2023 and is expected to reach USD 4.16 billion by 2032, at a CAGR of 6.05% during the forecast period of 2024-2032. 

Retinal Surgery Market to Thrive Due to Technological Advancements and Rising Eye Health Awareness 

Retinal surgery market is experiencing swift advancements, offering more efficient and minimally invasive treatments for different retinal conditions. Minimally invasive technologies, including micro-tools and sophisticated imaging systems, are improving patient results by decreasing pain, minimizing scars, accelerating recovery periods, and overall reducing healthcare expenses. The growing emphasis on awareness of eye health and the proliferation of healthcare facilities globally is enhancing access to these advanced retinal therapies, driving demand. Diseases such as diabetic retinopathy, epiretinal membranes, retinal detachment, and macular holes are becoming easier to treat with these devices, while the growing elderly population and lifestyle-related issues are also raising the demand for retinal procedures. For example, in 2023, diabetic retinopathy impacted more than 103 million individuals worldwide, a number expected to increase with diabetes prevalence. Retinal detachment, while not as frequent, impacts about 1 in every 10,000 people each year. Collectively, these factors highlight an essential need for creative solutions in retinal surgery.

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Key Players:
➢Novartis - (Lucentis, Beovu)
➢Regeneron Pharmaceuticals - (Eylea, Dexamethasone Injectable)
➢Bausch + Lomb - (ILUVIEN, Retisert)
➢Alcon - (Vitrectomy Packs, Retina Laser System)
➢Zeiss - (VisuMax, CIRRUS HD-OCT)
➢Topcon - (3D OCT-1 Maestro, retinal laser systems)
➢Abbott Laboratories - (Sutureless Vitrectomy, Retinal Prosthesis System)
➢Hoya - (i-Trace, Retina Imaging Systems)
➢EyePoint Pharmaceuticals - (YUTIQ, DEXYCU)
➢NIDEK - (Laser Systems, OCT Systems)
➢Optos  -(Ultra-widefield Imaging, Optomap)
➢Friedrich Miescher Institute - (Imaging and diagnostic solutions, clinical trials)
➢Carl Zeiss AG - (OCT imaging devices, surgical microscopes)
➢Lumenis - (SLT Laser Systems, photocoagulation lasers)
➢Katalyst Surgical - (Retinal surgical instruments, custom surgical packs)
➢Merck - (Ocular drug delivery systems, clinical trials)
➢Santen Pharmaceutical - (Ophthalmic solutions, surgical devices)
➢Vysion Technologies - (Ophthalmic imaging software, diagnostic tools)
➢DGH Technology - (Ultrasound systems, diagnostic devices)
➢IRIDEX Corporation - (MicroPulse laser systems, ophthalmic lasers)

Market Analysis: Growth Factors

The retinal surgery market is driven by growing healthcare infrastructure in developing areas, heightened awareness of eye health, and swift progress in retinal technologies. Improved visualization systems, accurate lasers, and less invasive instruments facilitate successful surgeries with reduced complications and enhanced results. Knowledge of retinal disorders such as diabetic retinopathy and age-related macular degeneration is encouraging more people to pursue early diagnosis and preventative treatment. Global health programs stress the significance of routine eye examinations, whereas community campaigns underscore the dangers of ignoring eye issues. Collectively, these elements are fueling substantial growth in the need for retinal surgical solutions.

Segment Analysis

By Product
➢Vitrectomy Machines
➢Retinal Laser Equipment

In 2023, the segment for vitrectomy packs dominated the market, representing more than 30% of the market share. Vitrectomy packs improve surgical efficiency by bringing together all necessary instruments in one pre-assembled kit, simplifying preparation and enhancing workflow during surgeries. Conversely, the retinal laser devices sector is expected to expand at a compound annual growth rate (CAGR) of 5.8% in the upcoming years. Retinal lasers enable precise, focused treatment of particular retinal regions, reducing collateral tissue injury and improving patient recovery. These tools are very efficient in addressing diabetic retinopathy, retinal tears, and macular degeneration.

By Application
➢Diabetic Retinopathy
➢Retinal Detachment
➢Other

In 2023, diabetic retinopathy led the application segment, accounting for 29% of the revenue share. Diabetic retinopathy, a major factor in vision loss, is caused by harm to the retina's blood vessels resulting from diabetes. The global prevalence of diabetes is on the rise, heightening the demand for early diagnosis and effective treatments. The segment for epiretinal membranes (ERM) is anticipated to expand at a CAGR of 6.3% throughout the forecast duration. ERM consists of the formation of fibrous tissue on the retina's surface, resulting in vision problems. The rise in diseases such as age-related macular degeneration and diabetic retinopathy is fueling the expansion of the ERM treatment sector since these ailments are linked to ERM development.

By End-Use
➢Hospitals
➢Ophthalmology Clinics
➢Others

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Regional Development

In 2023, North America represented a significant market share of 36%. The region has a skilled pool of ophthalmologists and retinal surgery experts, as well as access to state-of-the-art surgical technologies. This elevated level of skill, combined with access to cutting-edge equipment, has led to a significant demand for retinal procedures. Moreover, the widespread occurrence of diabetic retinopathy in North America serves as an important market catalyst, a pattern anticipated to endure as diabetes prevalence keeps increasing.

The Asia-Pacific area is projected to expand at the highest pace throughout the forecast period, propelled by heightened investment in healthcare infrastructure in developing nations like China and India. These advancements are enhancing the accessibility and affordability of advanced retinal surgeries. Moreover, Japan's elderly population is leading to an increased need for retinal care, as age-related eye issues arise more frequently. At the same time, the European market for retinal surgery devices is witnessing consistent growth attributed to its advanced healthcare infrastructure and the availability of various specialized eye care centers.

Recent Developments in the Retinal Surgery Market
➢In July 2024, Alcon Inc. announced the acquisition of Belkin Vision to strengthen its glaucoma treatment portfolio with the addition of direct selective laser trabeculoplasty (SLT) technology. This acquisition will expand Alcon’s offerings in the retinal care space, allowing it to provide comprehensive treatment options for both glaucoma and retinal conditions.
➢In April 2024, Carl Zeiss Meditec AG completed the acquisition of a Dutch ophthalmic research center, a move that supports the company's ongoing commitment to advancing eye care technology and research. This acquisition will enhance Carl Zeiss’s capabilities in innovative research and development, enabling the company to address complex retinal and ophthalmic conditions.

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