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Retinal Detachment Treatment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

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  • 120 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 4987199
UP TO OFF until Jun 30th 2023
Over the next few years, the market for treatments for retinal detachment is expected to grow at a CAGR of about 3.3%.

COVID-19 impacted the growth of the retinal detachment treatment market. The lockdown measures and restrictions imposed by the government have disrupted the treatment services in eye hospitals and clinics, which has decreased the demand for instruments. For instance, according to a study published in the British Journal of Ophthalmology in November 2021, in France, there was a 41.6% decline in rhegmatogenous retinal detachment (RRD) procedures from the pre-pandemic period to the pandemic period. Thus, the decreased surgical procedures for RD have decreased the demand for instruments, accessories, and other surgical products, which has impacted market growth during the pandemic period. However, with the resumed procedures and increased hospital visits, the demand for eye surgeries has increased. Thus, the market is expected to grow and regain its full potential in the coming few years.

Factors such as an aging population and an increase in the prevalence of diabetic retinopathy and other eye diseases among the population are driving market growth.For instance, according to 2022 statistics published by the CDC, about 20.5 million people living in America aged 40 years and older have a cataract in at least one eye, and this number is projected to reach 30 million by 2028. Thus, the expected increase in the number of people suffering from cataracts raises the demand for effective surgical procedures and treatment options, which in turn is anticipated to fuel market growth over the forecast period.

Also, as the number of people with diabetes rises, the risk of getting diabetic retinopathy will likely rise, which will increase the demand for effective treatments and help the market grow.For example, according to the IDF's 2022 statistics, about 537 million people around the world had diabetes in 2021, and this number is expected to rise to 643 million in 2030 and 784 million in 2045.So, the growth of the market over the next few years will be driven by the expected rise in the number of people with diabetes.

Also, more people are becoming aware of eye diseases like cataracts, glaucoma, dry eye disease, and others. This raises the demand for eye treatments, which is expected to help the market grow over the next few years.For example, an article in Healthcare from June 2021 says that between November 15, 2020, and January 15, 2021, a study was done to find out how much the general population of the Hail Region in Saudi Arabia knows about common eye problems and what might cause them.31% of the people who took part in the study knew about cataracts, 43% knew about glaucoma, 66% knew about dry eyes, and 44% knew about diabetic retinopathy.The same source also said that 46% of the participants knew about eye conditions, with male participants knowing more than female participants.

So, the studied market is likely to grow over the next few years because of things like the growing number of people with diabetes and eye diseases, as well as the fact that the population is getting older. But the high cost of treatment is likely to slow the growth of the market for retinal detachment treatments over the next few years.

Retinal Detachment Treatment Market Trends

Vitrectomy Segment Expects to Register a Significant Growth Over the Forecast Period

The vitrectomy segment is expected to witness significant growth in the retinal detachment treatment market over the forecast period owing to factors such as the rising burden of diabetic retinopathy and the growing prevalence of the retinal disease.

A vitrectomy is a surgical procedure undertaken by a specialist where the vitreous humor gel that fills the eye cavity is removed to provide better access to the retina. It allows for a variety of repairs, including the removal of scar tissue, the laser repair of retinal detachments, and the treatment of macular holes. To maintain the retina in place following surgery, saline, a gas bubble, or silicone oil may be injected into the vitreous gel.

According to a study published in the Journal of Medical Case Reports in May 2021, it has been observed that the small-gauge vitrectomy can reduce intraoperative stress and stop excessive bleeding, and the small-gauge Pars plana vitrectomy can successfully treat high myopia and retinal detachment in patients with Ehlers-Danlos syndrome (EDS) type IV. Also, as per an article published in Frontiers in Medicine in October 2021, it has been observed that vitrectomy is the ideal procedure for treating chronic total rhegmatogenous retinal detachment (RRD) with proliferative vitreoretinopathy (PVR) grade D in young adults, which removes PVR, peels the epiretinal membrane, and even performs a retinectomy to remove the subretinal membrane. Thus, such research studies are expected to increase the adoption of the vitrectomy method during retinal procedures, which is expected to fuel segment growth over the forecast period.

Also, recent improvements in equipment for transconjunctival pars plana vitrectomy are likely to help the segment grow.The improvements have led to fewer cases of dry eyes and scars on the conjunctiva after surgery, more effective surgery, less inflammation after surgery, which means less pain and more comfort for the patient, better results from cosmetic surgery, fewer astigmatic changes, and faster visual recovery.For instance, a study published in the February 2022 issue of the Journal of 'Ophthalmic Surgery, Lasers, and Imaging Retina stated that pars plana vitrectomy and gas tamponade (GT) restoration of rhegmatogenous retinal detachment (RRD) have significant clinical and quality-of-life effects in contrast to short-acting air tamponade.

Therefore, owing to the aforementioned factors, the studied segment is expected to grow over the forecast period.

North America is Expected to Have the Significant Market Share Over the Forecast Period

Over the next few years, the market for retinal detachment treatments is expected to grow a lot in North America. This is because of things like helpful government programs, more research partnerships, the presence of key players, the high number of diabetes-related complications in the region, the growing number of older people, and the region's well-established healthcare infrastructure.For example, according to data from the CDC, diabetic retinopathy will be the leading cause of vision loss and blindness in adults of working age in the United States by May 2021. By 2050, about 14.6 million Americans are expected to have diabetic retinopathy.

Also, the growing number of people with diabetes is likely to increase the demand for retinal eye treatment, which will help the market grow.For instance, about 32 million and 14 million people living in the United States and Mexico were suffering from diabetes in 2021, and this number is projected to reach 36.2 million and 21.8 million by 2045, respectively. So, the expected rise in population raises the risk of getting diabetic retinopathy, which makes more people want to have surgery and drives market growth.

Also, the fact that there are more retina specialists in the area opens up good chances for market growth.For example, in October 2021, Retina Consultants of America (RCA), a company that helps doctors manage their practices, added Tennessee Retina, which works in nine places like Nashville, Bowling Green, and Crossville.The doctors at Tennessee Retina are members of many ophthalmologic and vitreoretinal professional societies, both locally and internationally.This is expected to increase market growth over the forecast period.

Thus, the studied market is expected to grow over the next few years because of things like the high number of people with diabetes, the growing number of people with diabetic retinopathy, and the growing number of retina specialists.

Retinal Detachment Treatment Industry Overview

The retinal detachment treatment market is moderately competitive and consists of several major players. Some of the companies that are currently dominating the market are FCI Ophthalmics, Inami & Co., Ltd., Carl Zeiss Meditec AG, IRIDEX Corporation, and Bausch & Lomb Incorporated, among others.

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Geriatric Population
4.2.2 Increasing Diabetes Retinopathy and Other Eye Diseases
4.3 Market Restraints
4.3.1 High Cost of the Treatment
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Instruments
5.1.2 Consumables and Accessories
5.2 By Treatment Type
5.2.1 Pneumatic Retinopexy
5.2.2 Scleral Buckle Surgery
5.2.3 Vitrectomy
5.2.4 Other Treatment Types
5.3 By End-User
5.3.1 Hospitals and Clinics
5.3.2 Specialty Clinics
5.3.3 Other End-Users
5.4 Geography
5.4.1 North America United States Canada Mexico
5.4.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.4.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.4.4 Middle East and Africa GCC South Africa Rest of Middle East and Africa
5.4.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 FCI Ophthalmics
6.1.2 Inami & CO.,Ltd
6.1.3 Accurate Surgical & Scientific Instruments Corporation
6.1.4 BVI Medical
6.1.5 Carl Zeiss Meditec AG
6.1.6 Bausch & Lomb Incorporated
6.1.7 Nidek Co., Ltd.
6.1.8 Peak Surgicals
6.1.9 Surtex Instruments Limited
6.1.10 IRIDEX Corporation

Companies Mentioned

A selection of companies mentioned in this report includes:

  • FCI Ophthalmics
  • Inami & CO.,Ltd
  • Accurate Surgical & Scientific Instruments Corporation
  • BVI Medical
  • Carl Zeiss Meditec AG
  • Bausch & Lomb Incorporated
  • Nidek Co., Ltd.
  • Peak Surgicals
  • Surtex Instruments Limited
  • IRIDEX Corporation