Retinal Surgery Devices Market

Global Retinal Surgery Devices Market Size (2024 to 2029)

The Retinal surgery devices Market Size is valued at USD 2.4 billion in 2024 and is anticipated to reach USD 3.5 Billion by 2029 with a CAGR of 7.5% during the forecast period.

Retinal surgery devices encompass a range of equipment tailored for repairing detached or torn retinas. Crafted from high-quality materials such as stainless steel and medical-grade silicone, which ensure sterility, these devices include vitrectomy machines, retinal laser equipment, and an array of surgical instruments like cannulas, forceps, cutters, scissors, retractors, and cryoprobes. Diverse in size, shape, structure, design, and function, they streamline surgical procedures, offering expedited mounting times and heightened patient safety. Their utility extends to facilitating tissue replacement with healthy donor cells and enhancing surgeons' efficacy in addressing various ocular conditions. Widely employed in treating refractive errors, amblyopia, and strabismus, these devices are witnessing escalating demand worldwide. 

Global Retinal Surgery Devices Market Drivers:

The senior population, more susceptible to eye disorders like cataracts and glaucoma, is increasingly adopting retinal surgery devices due to their cost-effectiveness and efficiency. Additionally, rising awareness about eye health and treatment options worldwide presents opportunities for market growth. According to data from the World Health Organization (WHO), the global population aged 60 and above is projected to reach around 2 billion by 2050, compared to 900 million in 2015. A significant rise in retinal disorders among the elderly, eye injuries, and diabetic retinopathy is fueling the demand for retinal surgery devices. A WHO report from October 2021 indicates that approximately 2.2 billion people worldwide have vision impairment, with about 1 billion preventable cases. This highlights a substantial need for ophthalmic drugs and treatments, driving growth in the market. Conditions like retinitis pigmentosa, macular degeneration, and diabetic retinopathy are becoming more prevalent globally, positively impacting the demand for retinal surgery devices, which enhances the market revenue. 

Technology advancements in improving healthcare equipment safety and patient outcomes further contribute to market expansion. The benefits of retinal surgery devices, such as reduced pain, minimal scarring, and quicker recovery, are also driving their adoption. Research published in the Indian Journal of Ophthalmology in 2021 indicates a prevalence of diabetic retinopathy of around 17% in males and 11.8% in females. Moreover, a study published in PubMed in November 2021 suggests a global prevalence of diabetic retinopathy of approximately 22.27% in 2021, with expectations of further increase by 2045. This rising prevalence underscores the significant growth potential for retinal surgery devices catering to diabetic retinopathy treatment. All these factors are escalating the demand for retinal surgery devices, propelling global market growth. 

The landscape of retinal surgery has undergone a remarkable transformation over the past century, marked by pioneering breakthroughs and continuous innovation, creating opportunities for market expansion. The field has witnessed a succession of landmark developments with various advanced treatments like retinal detachment, the introduction of external buckles, cryotherapy, and laser photocoagulation. Additionally, the integration of intraoperative intraocular pressure control and anti-vascular endothelial growth factors has further improved surgical outcomes, enhancing the prospects for patients with retinal disorders, which increased the adoption of retinal surgery devices.  

Due to these advancements, the outlook for the retinal surgery device market appears highly promising. As surgeons refine their techniques and prioritize patient outcomes, a growing demand for sophisticated devices supporting these evolving practices is growing. With ongoing investments in research and development, coupled with a commitment to innovation, the market for retinal surgery devices is poised for significant expansion in the years to come.

Global Retinal Surgery Devices Market Restraints:

The retinal surgery device market faces significant constraints, primarily by the high costs of retinal surgeries. These expenses encompass surgical procedures and post-operative care, which can pose a financial barrier for patients, particularly those in regions with limited access to healthcare services or insufficient insurance coverage. These reasons are expected to hamper the global market growth. The market encounters challenges related to technological complexities and regulatory hurdles. Developing and implementing advanced retinal surgery devices demands substantial research, development, and regulatory compliance investments. Additionally, ensuring the safety and efficacy of these devices amidst evolving healthcare standards and regulations requires ongoing vigilance and adaptation, presenting considerable challenges for device manufacturers and healthcare providers alike.

Impact of COVID-19 on the global retinal surgery devices market:

During the COVID-19 pandemic, healthcare systems worldwide faced unprecedented challenges, with resources often redirected to combat the virus and prioritize urgent medical needs. While retinal surgeries are typically emergent and necessitate immediate intervention, adherence to pandemic protocols temporarily disrupted elective procedures, including some retinal surgeries. Consequently, some patients had delays in diagnosing retinal conditions, which could have impacted their overall well-being. However, healthcare professionals quickly adapted to the new circumstances, implementing strategies to ensure the safety of both patients and staff while maintaining essential services.

REPORT COVERAGE:

This research report on the retinal surgery devices market has been segmented and sub-segmented based on the following categories.

Global Retinal Surgery Devices Market - By Type:

• Vitrectomy Machines and Packs 
• Retinal Laser Equipment
• Surgical Instruments 
• Others 

The vitrectomy machines and packs segment held the largest share in the global retinal surgery devices market in 2023 and is expected to dominate with a significant CAGR during the forecast period. The increasing demand for single-use sterile packs of surgical instruments drives the segment growth. As these are ame-saving processes during and after surgery, the demand for vitrectomy packs is increasing, which enhances market revenue. 

The other segments are estimated to have prominent growth during the forecast period due to the growing prevalence of ophthalmic diseases demanding retinal surgeries. 

Global Retinal Surgery Devices Market - By Application:

• Diabetic Retinopathy
• Retinal Detachment 
• Others 

The diabetic retinopathy segment dominated the global retinal surgery devices market due to its high prevalence among seniors. Diabetic retinopathy is when retinal blood vessels are damaged in people with diabetes. The growing prevalence of diabetes among people is majorly driving the segment. According to the International Diabetes Federation (IDF), approximately 463 million adults aged 20-79 will be living with diabetes. It also stated that by 2045, it is expected to rise to 700 million adults, and 79% of adults are expected to be from low and middle-income countries. These consequences are raising the demand for surgeries, which will enhance the adoption of retinal surgery, boosting the market growth in the upcoming years. 

Global Retinal Surgery Devices Market - By End-Use:

• Hospitals 
• Ophthalmology Clinics
• Others 

The hospital's segment held the largest share of the global market revenue as the hospitals collaborated with government agencies, increasing the funding that enhanced the adoption of advanced technological equipment. Most people prefer hospitals due to the presence of skilled professionals with cutting-edge facilities for the patients. These factors are increasing the segment growth and enhancing the global market share. 

Global Retinal Surgery Devices Market - By Region:

• North America
• Europe
• Asia Pacific 
• Latin America
• Middle East and Africa 

The North American region dominated the global market with a significant share due to rising cases of retinal disorders in the geriatric population and the high prevalence of diabetic retinopathy in the region. According to the Centers for Disease and Control, approximately 12 million people 40 years and above in the U.S. have vision impairment. Around 6.8% of children younger than 18 years in the U.S. are significantly diagnosed with eye and vision conditions. Hence, the rising number of vision problems in the country is enhancing the demand for retinal surgery devices in the region, which boosts the market growth. Canada is increasing its focus on new eye surgery hospitals to meet the demand for ophthalmic surgeries. The presence of significant market players in the region is enhancing the developments; advanced healthcare infrastructure with prominent R&D facilities is increasing the market growth in the region. 

The Asia Pacific region is expected to have significant and fastest growth in the forecast period due to increasing awareness among the people; improving healthcare management is estimated to drive the market growth in the region. The growing geriatric population and growing government initiatives to raise healthcare expenditures are adding fuel to the enhancement of the market value in the Asia Pacific region.

KEY MARKET PLAYERS:

Alcon, Inc., Ellex Medical Lasers, Carl Zeiss Meditec AG, Ridex Corporation, Topcon Corporation, Bausch and Lomb Incorporated, Lumenis, Synergetics Inc., Optos Plc, Leica Microsystems GmbH are playing a leading role in the retinal surgery devices market.

RECENT MARKET DEVELOPMENTS:

• After receiving FDA approval in April 2022, Parkhurst NuVision launched EVO Visian ICL, a new vision device in the U.S. which raised the company product portfolio.  
• In April 2022, Nova Eye Medical announced the launch of its next-generation canaloplasty device, iTrack Advance, in select markets in Europe and Asia Pacific.