Geographically, the global retinal surgery devices market is led by North America. In 2014, the U.S. Center for Disease Control and Prevention (CDC) recorded that around 26 million people in the U.S. are affected with diabetes. Furthermore, over 28% of diabetics were aged 40 years and above and were affected with diabetic retinopathy and other diabetic eye-related conditions.
North America to Continue its Dominance in Global Retinal Surgery Devices Market
In 2013, the North American retinal surgery devices market held the largest share of 35% in the global market for the same. North America has always been the most hospitable region for innovations in medical devices and accompanying technologies. These elements will continue to drive the North American retinal surgery devices market.
Nevertheless, countries in Asia Pacific such as South Korea, Japan, China, India, Malaysia, and Australia will demonstrate remarkable growth in the foreseeable future. The large population of Asia Pacific coupled with the availability of a skilled workforce at cheaper costs than in the West, easy market penetration, and regulatory compliance will drive the retinal surgery devices market in this region.
The global retinal surgery devices market is projected to expand at a strong 7.3% CAGR during the forecast period of 2014 to 2020. In 2013, the retinal surgery devices market was worth US$1.22 billion and is anticipated to be worth US$2.01 billion by 2020. The rapidly growing aging population around the world, coupled with elevated demand for minimally invasive surgical instruments, will continue to drive the global retinal surgery devices market. Moreover, increased expenditure by patients and public agencies on healthcare will also support the growth of the global retinal surgery devices market.
Cost- and Time-Effectiveness of Vitrectomy Packs to Drive Global Retinal Surgery Devices Market
By equipment type, the global retinal surgery devices market is segmented into retinal laser equipment, vitrectomy machines, vitrectomy packs, microscopic illumination equipment, surgical instruments, and others. At present, vitrectomy packs are leading the market and held a 25% market share in 2013. Factors such as the higher time-saving due to lower operating room start-up time and cost-effectiveness due to optimization of expense and waste per surgery will drive the vitrectomy packs sector in the global retinal surgery devices market.
The global retinal surgery devices market is segmented by application into retinal detachment, diabetic retinopathy, macular hole, epiretinal membrane, and others such as eye infections and eye injuries. The segment of diabetic retinopathy held the largest market share in the global retinal surgery devices market owing to the growing prevalence of diabetes and associated disorders worldwide. In addition to this, the growing preference of patients for technologically advanced retinal surgical devices for diabetic retinopathy treatment will fuel the growth of this segment.
Browse the full Global Retinal Surgery Devices Market report at http://www.mrrse.com/retinal-surgery-devices-market
The global retinal surgery devices market is highly competitive and fragmented in nature. The market is comprised of several established players and some emerging companies. Emerging economies in the global retinal surgery devices market will provide sustained growth opportunities for both classes of companies. Players in the global retinal surgery devices market compete primarily on the basis of innovation and cost-effectiveness. The top companies operating in the global retinal surgery devices market are Alcon, Bausch & Lomb, Carl Zeiss Meditec, IRIDEX, Lumenis, NIDEK, Optos, Synergetics, and Topcon