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 the publisher believes the scenario to improve in future.
By Product
The publisher has 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 the research analysis, Global Retinal Surgery Device Industry is likely to grow at a CAGR of 7.86% from 2020-2027.
By Application
The publisher has 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
The report covers 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.
This 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.
Product -Market breakup from 6 viewpoints
1. Vitrectomy Machines
2. Vitrectomy Packs
3. Surgical Instruments
4. Microscopic Illumination Equipment
5. Retinal Laser Equipment
6. Others
Application - Market breakup from 5 viewpoints
1. Diabetic Retinopathy
2. Retinal Detachment
3. Epiretinal Membrane
4. Macular Hole
5. Others
End User - Market breakup from 3 viewpoints
1. Hospitals
2. Eye Clinics
3. Others
Region - Market breakup from 5 viewpoints
1. North America
2. Latin America
3. Europe
4. Asia Pacific
5. Middle East & Africa
All Companies have been covered from 3 viewpoints
- Overview
- Recent Development & Strategies
- Financial Insights
Company Analysis
1. Topcon Corporation
2. Alcon AG
3. Carl Zeiss
4. Bausch Health Companies Inc
5. Iridex Corporation
What is the estimated value of the Global Retinal Surgery Device Market?
What is the growth rate of the Global Retinal Surgery Device Market?
What is the forecasted size of the Global Retinal Surgery Device Market?
Who are the key companies in the Global Retinal Surgery Device Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 135 |
| Published | September 2021 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value ( USD | $ 1.56 Billion |
| Forecasted Market Value ( USD | $ 2.7 Billion |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
Table of Contents
Companies Mentioned
- Topcon Corporation
- Alcon AG
- Carl Zeiss
- Bausch Health Companies Inc
- Iridex Corporation
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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