Retinal Detachment Diagnostic Market Size (2024 - 2029)

Retinal Detachment Diagnostic Market Analysis

The Retinal Detachment Diagnostic Market size is estimated at USD 1.08 billion in 2024, and is expected to reach USD 1.52 billion by 2029, growing at a CAGR of 7.12% during the forecast period (2024-2029).

The COVID-19 pandemic caused uncertain forecasts, shifts in short-term planning goals, and a focus on near-term cost management and long-term complexity management concerns. According to the National Library of Medicine, the rate of retinal detachment diagnosed in its emergent ophthalmology consultation decreased significantly during the COVID-19 pandemic, and patients waited longer before asking for an ophthalmologic examination. These findings were probably due to the fear of contracting the COVID-19 infection attending hospital environments. Hence, COVID-19 significantly impacted the retinal detachment diagnostic market due to the abovementioned factors.

The increasing prevalence of retinal disorders is driving the growth of the market. According to WHO estimates of September 2021, globally, 180 million people were visually disabled, and 40-45 million people were blind. The same source stated that around 80% of global blindness is preventable, i.e., the condition can be addressed if the requisite knowledge and medical interventions are provided at the right time or result from certain conditions that can be prevented. Concerted awareness efforts are being made by the international community, including organizations such as World Health Organization and its member states, nongovernmental organizations (NGOs), the private sector, and other UN agencies.

The demand for efficient diagnostic devices is also increasing owing to rapid technological advances. Novel technological platforms are no doubt highly efficient. However, they are available at high prices initially. The cost of ophthalmic laser treatment is considerably high owing to the high cost of the laser devices, which makes them unaffordable for low- and middle-income groups. In addition, installation and service costs are high. The average price of ophthalmic lasers is likely to be valued in the range of USD 20,000-USD 75,000, while treatments are priced at over USD 2,077 per eye for LASIK refractive correction surgery. This is expected to have a negative impact on the market during the forecast period.

Retinal Detachment Diagnostic Industry Segmentation

Retinal detachment occurs when the light-sensitive membrane (retina) in the back of the eye separates from its supporting layers. Most retinal detachments occur due to retinal break, tear, or hole. Retinal detachment can cause partial or total blindness, depending on how much the retina is detached. It is a severe medical condition and medical emergency. 

The retinal detachment diagnostic market is segmented by Disease (Rhegmatogenous Retinal Detachment, Exudative, Serous or Secondary Retinal Detachment, Tractional Retinal Detachment), Diagnostics (Fundus Photography, Ophthalmoscopy, Digital Retinal Camera, Flouroscent Retinal Angiography, Other Diagnostics) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, South America). The market report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value in USD million for the above segments.