Market Size of Global Retinal Detachment Treatment Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
CAGR | 3.30 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Retinal Detachment Treatment Market Analysis
Over the next few years, the market for treatments for retinal detachment is expected to grow at a CAGR of about 3.3%.
COVID-19 impacted the growth of the retinal detachment treatment market. The lockdown measures and restrictions imposed by the government have disrupted the treatment services in eye hospitals and clinics, which has decreased the demand for instruments. For instance, according to a study published in the British Journal of Ophthalmology in November 2021, in France, there was a 41.6% decline in rhegmatogenous retinal detachment (RRD) procedures from the pre-pandemic period to the pandemic period. Thus, the decreased surgical procedures for RD have decreased the demand for instruments, accessories, and other surgical products, which has impacted market growth during the pandemic period. However, with the resumed procedures and increased hospital visits, the demand for eye surgeries has increased. Thus, the market is expected to grow and regain its full potential in the coming few years.
Factors such as an aging population and an increase in the prevalence of diabetic retinopathy and other eye diseases among the population are driving market growth.For instance, according to 2022 statistics published by the CDC, about 20.5 million people living in America aged 40 years and older have a cataract in at least one eye, and this number is projected to reach 30 million by 2028. Thus, the expected increase in the number of people suffering from cataracts raises the demand for effective surgical procedures and treatment options, which in turn is anticipated to fuel market growth over the forecast period.
Also, as the number of people with diabetes rises, the risk of getting diabetic retinopathy will likely rise, which will increase the demand for effective treatments and help the market grow.For example, according to the IDF's 2022 statistics, about 537 million people around the world had diabetes in 2021, and this number is expected to rise to 643 million in 2030 and 784 million in 2045.So, the growth of the market over the next few years will be driven by the expected rise in the number of people with diabetes.
Also, more people are becoming aware of eye diseases like cataracts, glaucoma, dry eye disease, and others. This raises the demand for eye treatments, which is expected to help the market grow over the next few years.For example, an article in Healthcare from June 2021 says that between November 15, 2020, and January 15, 2021, a study was done to find out how much the general population of the Hail Region in Saudi Arabia knows about common eye problems and what might cause them.31% of the people who took part in the study knew about cataracts, 43% knew about glaucoma, 66% knew about dry eyes, and 44% knew about diabetic retinopathy.The same source also said that 46% of the participants knew about eye conditions, with male participants knowing more than female participants.
So, the studied market is likely to grow over the next few years because of things like the growing number of people with diabetes and eye diseases, as well as the fact that the population is getting older. But the high cost of treatment is likely to slow the growth of the market for retinal detachment treatments over the next few years.
Retinal Detachment Treatment Industry Segmentation
As per the scope of the report, retinal detachment is caused when the tissue at the back of the eye pulls away from a layer of blood vessels that provide necessary oxygen and nourishment. The Retinal Detachment Treatment market is segmented by product (instruments, consumables, and accessories), treatment type (Pneumatic Retinopexy, Scleral Buckle Surgery, Vitrectomy, and Others), end-user (hospitals and clinics, specialty clinics, and others), and geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the market size and forecasts in value (USD million) for the above segments.
By Product | |
Instruments | |
Consumables and Accessories |
By Treatment Type | |
Pneumatic Retinopexy | |
Scleral Buckle Surgery | |
Vitrectomy | |
Other Treatment Types |
By End-User | |
Hospitals and Clinics | |
Specialty Clinics | |
Other End-Users |
Geography | ||||||||
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Global Retinal Detachment Treatment Market Size Summary
The retinal detachment treatment market is poised for growth in the coming years, driven by factors such as an aging population and the increasing prevalence of eye diseases like diabetic retinopathy. The market experienced a temporary setback due to the COVID-19 pandemic, which disrupted treatment services and reduced demand for surgical instruments. However, as procedures have resumed and hospital visits have increased, the market is expected to regain its momentum. The rising awareness of eye conditions and the growing number of individuals with diabetes are further propelling market expansion. Despite the high cost of treatment posing a challenge, the demand for effective surgical procedures is anticipated to fuel market growth.
The vitrectomy segment is expected to witness significant growth, supported by advancements in surgical techniques and equipment. This procedure, which involves the removal of the vitreous humor to access the retina, is becoming increasingly popular due to its effectiveness in treating various retinal conditions. Improvements in transconjunctival pars plana vitrectomy have led to better surgical outcomes and patient comfort, contributing to the segment's growth. North America is projected to be a key region for market expansion, driven by factors such as a high prevalence of diabetes-related complications, a well-established healthcare infrastructure, and the presence of numerous retina specialists. The market is moderately competitive, with major players like FCI Ophthalmics, Inami & Co., Ltd., and Carl Zeiss Meditec AG leading the industry.
Global Retinal Detachment Treatment Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Geriatric Population
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1.2.2 Increasing Diabetes Retinopathy and Other Eye Diseases
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1.3 Market Restraints
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1.3.1 High Cost of the Treatment
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product
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2.1.1 Instruments
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2.1.2 Consumables and Accessories
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2.2 By Treatment Type
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2.2.1 Pneumatic Retinopexy
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2.2.2 Scleral Buckle Surgery
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2.2.3 Vitrectomy
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2.2.4 Other Treatment Types
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2.3 By End-User
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2.3.1 Hospitals and Clinics
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2.3.2 Specialty Clinics
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2.3.3 Other End-Users
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Global Retinal Detachment Treatment Market Size FAQs
What is the current Global Retinal Detachment Treatment Market size?
The Global Retinal Detachment Treatment Market is projected to register a CAGR of 3.30% during the forecast period (2024-2029)
Who are the key players in Global Retinal Detachment Treatment Market?
Inami & CO.,Ltd, FCI Ophthalmics, IRIDEX Corporation, Carl Zeiss Meditec AG and Bausch & Lomb Incorporated are the major companies operating in the Global Retinal Detachment Treatment Market.