The global retinal surgery devices market could demonstrate a fragmented nature in the coming years, owing to the existence of developing and also established players in the industry. A report authored by Transparency Market Research (TMR) has prognosticated the market to be marked by the presence of top-level players such as Carl Zeiss Meditec AG, Alcon, Inc., IRIDEX Corporation, Synergetics, Inc., and Bausch + Lomb Incorporated. Most prominent companies accounting for a larger share could implement competition sustainability tactics, molding the nature of the market to become highly competitive in future.
As per the statistical analysis of TMR, a revenue valuation of around US$2.01 bn has been anticipated to be obtained by the global retinal surgery devices market in 2020. Despite holding a king’s share for retinal surgery devices in the recent past, vitrectomy packs could showcase a faster growth during the course of the forecast period. According to regional analysis, North America could take the driver’s seat while operating at a higher share for retinal surgery devices.
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Technologically Advanced Retinal Surgery Devices Allow Effective Surgeries
The world retinal surgery devices market has been foreseen to be driven by noteworthy technological developments that have been birthing productive surgical choices with reduced healing time. The rising prominence of the application of surgical equipment with a minimally invasive nature could augur well for the growth of the market. Furthermore, the surging percentage of the geriatric population has been envisaged to open up new avenues in the business of retinal surgery devices.
More prospects could show face in the world retinal surgery devices market as technological breakthroughs continue to take shape in the coming years. Products such as vitrectomy packs have been forecasted to draw a massive demand for retinal surgery devices on the back of critical advantages such as significant time savings in view of operation startup, bearable overall expenses, and low rate of waste generation per surgery. Applications such as retinal detachment could hike up the growth of the market on account of the crucial use of retinal surgery devices. The augmenting incidence of diabetes worldwide could increase the demand for retinal surgery devices in the treatment of diabetic retinopathy.
Expensive Cost of Retinal Surgery Devices Tapers off Demand
One of the noticeable factors that could hinder the rise of the international retinal surgery devices market is high cost. Since the cost of retinal surgery devices is markedly high, the cost of retinal surgeries that require the equipment could also increase. As a result, it has been predicted that the growth of retinal surgeries could increase at a lazy rate in the near future.
Nonetheless, the international retinal surgery devices market has been envisioned to be invaded by a multitude of business opportunities as lucrative regions such as Asia Pacific witnessing a robust growth in China and India contribute at a faster rate. Swiftly developing healthcare infrastructure and availability of large labor forces asides improving economy could be some of the factors helping Asia Pacific to birth new prospects in the market. Developing markets such as North America could also up the demand for retinal surgery devices while riding on a growing obese population and greater adoption for use in minimally invasive surgeries.
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The information presented in this review is based on a TMR report, titled, “Retinal Surgery Devices Market (Product – Vitrectomy Packs, Vitrectomy Machines, Retinal Laser Equipment, Microscopic Illumination Equipment, Surgical Instruments (Cannulas, Forceps, Cutters, and Cryoprobes), and Retinal Tamponades and Sclera Buckle; Application – Diabetic Retinopathy, Retinal Detachment, Epiretinal Membrane, Macular Hole, and Eye Infection and Eye Injury) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 – 2020.”