The most important sensory organ of the human body is the human eye. Any injury of contagion to human eye requires being handled with extreme precaution and care. Different kinds of devices for retinal surgery such as microscopic illumination equipment, vitrectomy machines, retinal laser equipment, vitrectomy packs, and surgical instruments among others are employed for the cure of retinal diseases such as diabetic retinopathy, macula pucker, and macular hole among others. Shifting lifestyle and rise in a number of the aged residents has created a situation reflecting an elevation in the number of retinal surgery carried out all over the world that has indirectly fueled the growth of the global retinal surgery devices market. In 2015, the global market for retinal surgery devices was esteemed around $1.4 Billion. By the end of 2021, the global retinal surgery devices market is projected to create revenue of $2.1 Billion 2021, mounting at a rate of 8.4% CAGR from 2016 to 2021.
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In March 2017, researchers at the University of California, San Diego and the Italian Institute of Technology in Genoa have crafted synthetic retinas that can be fixed entirely inside the eye that offer a ray of hope for those with macular degeneration. This boosted the retinal surgery devices market on a global level.
The rising demand from the industry is the main reason that is boosting the global retinal surgery devices market. The technological advancement in the medical field medical is also accountable for the growth of the global retinal surgery devices market. Conversely, the growing unawareness among the people can be held responsible for restraining the global market.
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On the basis of product segment, the global market for retinal surgery devices is bifurcated as retinal laser equipment, vitrectomy packs, equipment for microscopic illumination, vitrectomy machines, surgical instruments, and others. Based on types of applications, the global market for retinal surgery devices is divided as diabetic retinopathy, epiretinal membrane, macular hole, retinal detachment, and others.
Major players in the global market include Carl Zeiss Meditec AG, Synergetics, Inc., IRIDEX Corporation, Optos plc., Leica Microsystems, Topcon Corporation, Alcon, Inc., Bausch + Lomb Incorporated, Dover NiDEK CO., Ltd., ASICO, Lumenis, and others.