ALBANY, New York, June 10, 2015 /PRNewswire/ --
According to a new market report published by Transparency Market Research "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," the global retinal surgery devices market was valued at USD 1.22 billion in 2013 and is expected to reach USD 2.01 billion in 2020, expanding at a CAGR of 7.3% from 2014 to 2020.
The retinal surgery devices market is witnessing an upward trend due to rapidly increasing geriatric population and growing demand for minimally invasive surgical instruments. Introduction of robust treatment platforms for ophthalmic diseases and retinal implants are some of the technological breakthroughs that would accelerate the growth of the market. Increased spending by patients and governments is another factor likely to drive the growth of the retinal surgery devices market during the forecast period from 2014 to 2020.
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The vitrectomy packs segment accounted for the largest share of 25% of the retinal surgery devices market in 2013. This segment is anticipated to grow at the highest CAGR from 2014 to 2020 due to factors such as greater timesaving pertaining to operating room start-up time and cost saving by decreasing expenses and waste per surgery. The diabetic retinopathy application segment accounted for the largest share of the retinal surgery devices market due to increasing prevalence of diabetes and related eye disorders across the globe. Furthermore, growing preference of the population for technologically advanced retinal surgical devices for the treatment of diabetic retinopathy is attributed to the growth of the segment. However, the retinal detachment application segment is expected to lead the market during the forecast period, as vitrectomy is considered the best available treatment option for complicated or severe cases of retinal detachment.
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Geographically, North America accounted for the largest share of 35% of the total retinal surgery devices market in 2013, as the region has always been on the leading edge of medical device technology and related adoption. However, countries in Asia Pacific such as Japan, South Korea, Malaysia, Australia, India and China are witnessing remarkable growth. This is likely to contribute to the growth of the market in the region during the forecast period from 2014 to 2020. Large population, skilled workforce, easy market penetration in developing economies, favorable support from governments for the improvement of health care infrastructure would further boost the growth of the retinal surgery devices market in Asia Pacific.
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The retinal surgery devices market exhibits intense competition among the existing players. The market is highly fragmented, comprising established as well as emerging companies. The top players operating in the retinal surgery devices market are Bausch + Lomb Incorporated, Synergetics, Inc., IRIDEX Corporation, Alcon, Inc., Carl Zeiss Meditec AG, Leica Microsystems, NIDEK CO., LTD., Topcon Corporation, Lumenis, and Optos plc.
Browse the full Article of Retinal Surgery Devices Market: http://www.transparencymarketresearch.com/article/retinal-surgery-devices-market.htm
The global retinal surgery devices market has been segmented as follows:
Retinal Surgery Devices Market, by 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.)
Retinal Surgery Devices Market, by Applications
- Diabetic Retinopathy
- Retinal Detachment
- Epiretinal Membrane
- Macular Hole
- Others (Eye Infections and Eye Injuries)
Retinal Surgery Devices Market, by Geography
- North America
- Asia Pacific
- Rest of the World (RoW)
Other Published Reports by Transparency Market Research:
- Human Papillomavirus Therapeutics Market: http://www.transparencymarketresearch.com/hpv-cmv-therapeutics-market.html
- Dilated Cardiomyopathy Therapeutics Market: http://www.transparencymarketresearch.com/dilated-cardiomyopathy-market.html
- Capnography Equipment Market: http://www.transparencymarketresearch.com/capnography-market.html
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