Retinal Surgery Devices Market is Going to Hit US$2.01 Billion by 2020
The global retinal surgery devices market is considered as fragmented in nature with a high level of competition throughout the forecast period, states a new market intelligence study that has been recently published by Transparency Market Research. The market is expected to witness entry of several new players, which is likely to enhance the level of competition in the next few years. The leading players in the market are focusing on the research and development activities and technological advancements are projected to accelerate the growth of the overall market in the coming years.
In addition to this, the rise in the number of mergers and acquisitions and collaborations are estimated to generate potential opportunities for the market players throughout the forecast period. Some of the key players operating in the retinal surgery devices market are Topcon Corporation, Lumenis, Optos plc., Alcon, Inc., Leica Microsystems, Bausch + Lomb Incorporated, Carl Zeiss Meditec AG, NIDEK CO., LTD., Synergetics, Inc., and IRIDEX Corporation.
According to the market research study by Transparency Market Research, the global market for retinal surgery devices is projected to reach a value of US$2.01 bn by the end of 2020. The market is likely to register a strong growth rate in the coming few years.
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North America to Witness High Growth in Coming Years
Among the key regional segments, the global market for retinal surgery devices has been categorized into the Middle East and Africa, North America, Latin America, Asia Pacific, and Europe. In the last few years, North America led the global market and is predicted to remain in the similar position throughout the forecast period. The strong growth of this region can be attributed to the rising prevalence of eye diseases and the rising geriatric population.
In addition to this, the rising diabetic population and technological developments are estimated to accelerate the growth of the North America market in the coming years. On the other hand, Asia Pacific is predicted to register a promising growth rate in the coming years. The rising consumer awareness among consumers and the development of the healthcare industry are predicted to encourage the growth of the Asia Pacific market in the near future.
On the basis of application, the retinal surgery devices market has been categorized into retinal detachment, macular hole, diabetic retinopathy, epiretinal membrane, and others. Among these, the diabetic retinopathy segment is projected to account for a large share of the market in the next few years. The rising prevalence of diabetic retinopathy and the rising patient preference for retinal surgery among the other options are some of the key factors that are predicted to encourage the growth of the market throughout the forecast period.
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Rising Prevalence of Eye Disorders to Enhance Market Growth
The rising technological advancements and the increasing number of applications of surgical equipment are some of the key factors that are projected to encourage the growth of the global retinal surgery devices market throughout the forecast period. In addition to this, the rising geriatric population and the increasing prevalence of eye-related disorders are projected to accelerate the growth of the overall market in the next few years. On the flip side, the high cost of retinal surgery devices is one of the major factors that is predicted to restrict the growth of the overall market in the next few years. Nonetheless, the emerging economies, across the globe are projected to offer potential growth opportunities for the market players in the next few years.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Retinal Surgery Devices Market [Equipment Type: Vitrectomy Packs, Vitrectomy Machines, Retinal Laser Equipment, Microscopic Illumination Equipment, Surgical Instruments (Cannulas, Forceps, Cutters, Cryoprobes, etc.) & Others (Retinal Tamponades, Sclera Buckle, etc.); Applications: Diabetic Retinopathy, Retinal Detachment, Epiretinal Membrane, Macular Hole & Others (Eye infections and Eye injuries)] – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020.”
- Technological advancements in the field is projected to encourage the growth of the global retinal surgery devices market in the next few years.
- North America and Asia Pacific markets to witness high growth in the next few years.
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