The retinal surgery devices market is experiencing an upward trend due to the demand for minimally invasive surgical (MIS) instruments and growing geriatric population in the world. These factors have encouraged continuous advances in the technology deployed in ophthalmic devices and created new growth opportunities in the medical care industry. The retinal surgery devices market is extensively analyzed by its efficacy, usefulness, regional coverage, and overall revenue profits across the globe.
The market includes six major categories within the equipment type segment. These are vitrectomy packs, surgical instruments, vitrectomy machines, microscopic illumination equipment, retinal laser equipment, and others (retinal tamponades and sclera bucke). In terms of revenue, vitrectomy packs held the largest market share within the retinal surgery devices market in 2013. Vitrectomy packs is expected to lead other segments until 2020.
Market players such as Synergetics, Inc., Alcon, Inc., Bausch + Lomb Incorporated, and IRIDEX Corporation serve as major eye care professionals in the global market. They use advanced retina surgical, pharmaceuticals, and vision care products to help people see the world better. Alcon, Inc. is the leading player in the market due to its cutting-edge innovation, breakthrough technology and comprehensive line of ophthalmic surgical products. By 2020, Alcon plans to invest US$5 billion to develop new methods to treat retinal disorders and other eye-related problems.
Likewise, in a move to increase its capacity to develop new innovations in the retina surgery devices market, Synergetics, Inc. recently launched new products such as VersaPACK and Pinnacle 360°, adding to its portfolio of retinal surgical products.
The United States Centers for Disease Control and Prevention recently stated that the U.S. has more than 26 million people suffering from diabetes, which leads to diabetic retinopathy and other eye-related diseases. Therefore, growing awareness among patients in this region and the need for retinal treatments has boosted growth in the retinal surgery devices market in the U.S.
By 2020, Asia Pacific is also expected to witness high growth in the retinal surgery devices market due to the increasing government initiatives, technological developments, and growing investments by key players.
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