Devices for retinal surgery, including laser surgery, cryotherapy, and scleral buckle surgery are used to mend injured or detached retinas. The main purpose of retinal surgery devices includes the surgical repair of injured or detached retinas as well as the treatment of various retinal illnesses such as diabetic retinopathy and macular holes, as well as complications involving the retina, macula, and vitreous humor. Scissors, tamponades, probes, vitrectomy machines, light pipes, and lasers are a few of the instruments frequently utilized in retinal surgery.
The retinal surgery devices market is expected to rise over the next few years due to an increase in surgical device applications and a rise in technological developments. In addition, it is projected that growth in the elderly population and the incidence of retinal illnesses that affect the eyes will both boost the expansion of the global market during the forecast period. In 2021, the Vision Loss Expert Group (VEEG) reported that 1.1 billion individuals globally have vision loss, 90% of whom reside in low- & middle-income nations (LMICs).
In addition, according to data from PubMed released in 2021, the number of blind people in the Middle East and Africa will rise from 43 million to 61 million (42% increase) by the year 2050. Similar to this, there will be 61% more people with moderate to severe visual impairment than there are now (295 million). By 2050, there will be 258 million more people with mild visual impairment, 360 million more with near vision problems, and 866 million more people overall.
Moreover, the prevalence of ophthalmic disorders will likely increase, thereby fueling market expansion. The world's growing economies are expected to present the market with additional chances for expansion. The focus is anticipated to shift toward surgical devices due to low compliance rates and non-adherence to therapeutic techniques designed to lower the risk of visual loss in diabetic retinopathy. Patients' non-compliance with the vision care recommendations is acknowledged as a complicated health issue. According to NCBI-conducted research, one-third of diabetic patients failed to adhere to the recommended vision care practices in the US.
Moreover, since retinal surgery is frequently an emergency requiring a quick operation, COVID-19 had a minor impact on the market for equipment used in this procedure. The COVID-19 rules forced medical professionals globally to prioritize crucial treatments, including surgery of the retina. However, a delay in diagnosis during the epidemic has somewhat impacted the patient's health. At present, the regular post-pandemic procedures have resumed, and the market will expand positively in the years following the pandemic. However, the high expense and potential consequences of retinal surgery could limit market expansion.
A favorable prognosis for retinal surgeries is being further enhanced by the introduction of novel surgical instruments. To improve intraoperative efficiency, vision, and control, manufacturers are creating product versions incorporating fundus imaging units, micro-incision technologies, and endo-illumination systems. In the next years, the market is expected to be driven by a number of other factors, such as rise in public awareness of various vision care procedures, advancements in the healthcare industry, and substantial R&D activities.
Further, the market growth is attributed to increase in the geriatric population, which is more prone to acquiring retinal eye illnesses. Besides, one of the main drivers enhancing the penetration rate of retinal surgery devices throughout the forecast period is healthcare organizations' ongoing efforts to enhance vision care.
New product launches to flourish the marketFor instance, Second Sight announced the conclusion of its merger with a forward-thinking biopharmaceutical business on August 30, 2022, and subsequently changed its name to Vivani Medical, Inc. ("Vivani").
In August 2022, after signing a binding merger agreement, Durham-based Aerie Pharmaceuticals was purchased by Alcon for around $770 million. Alcon said that the acquisition would increase its capacity for pharmaceutical R&D and strengthen its commercial know-how in the $20 billion global ophthalmic pharmaceutical sector.
Moreover, Rocklatan and Rhopressa, two eye-drop medications for lowering high intraocular pressure in patients with open-angle glaucoma or ocular hypertension, will be made available to Alcon as a result of the mergerThey were both developed by Aerie. Along with a pipeline of other clinical and preclinical ophthalmic pharmaceutical product prospects, Alcon will additionally gain a product candidate for dry eye disease in Phase 3 clinical trials.
AcuFocus, Inc. ("AcuFocus") and Bausch Lomb Corporation announced in January 2023 that a Bausch Lomb subsidiary had purchased AcuFocus as a result of their merger with AcuFocus' parent firm. The IC-8 AptheraTM intraocular lens (IOL), the first and only small-aperture non-toric extended depth of focus (EDOF) device, was approved by the US Food and Drug Administration in July 2022. AcuFocus has provided advanced technology to address small hole intraocular technologies. versatile eye care needs. IOL for cataract patients who also want to correct presbyopia and have specific corneal astigmatism up to 1.5 diopters. The IC-8 IOL, as it is commonly referred to, is sold in a few European markets as well as those in Australia, New Zealand, and Singapore.
Segment Overview: By product: The extensive variety and ease of availability of vitrectomy packs, which are regarded as an essential component of the eye care toolkit, encourage ophthalmologists to use this product more frequently. Currently, certain producers are working continuously to create all-in-one vitrectomy packs that will be able to take the place of other necessary tools. It is predicted that the technological advancements in vitrectomy packs will give vitreoretinal surgeons a wider range of options. The technical advancements will lead to faster incision healing times and smaller incisions, which will benefit patients by reducing conjunctival scarring and postoperative irritation and eliminating the need for surgical intervention.
By application: Due to rise in the prevalence of diabetes, there is strong demand for illumination equipment and laser projection devices in the therapy to reduce the high incidence levels. The growing number of ophthalmology conferences and exhibitions to raise physician awareness of the wide range of treatment options available for this condition and effective training regarding the use of retinal surgery devices in disease management. the existence of government entities engaged in developing guidelines and recommendations and monitoring their proper implementation for effective screening & management. For instance, according to the International Diabetes Federation (IDF), 463 million people between the ages of 20 and 79 will have diabetes. It is anticipated that 700 million adults will develop diabetes by 2045, with 79% coming from low- and middle-income nations.
By end user: Amounts paid by hospitals can be explained by their high patient turnover rate and frequent readmissions. Successful surgical procedures are made possible by supportive infrastructure, which demands retinal surgery devices and leads to a higher proportion of hospitals. Key contributing elements also included the rising number of government efforts aimed at encouraging treatment facilities that were effective in producing speedy outcomes and enhancing overall healthcare efficiency. Together, these elements account for hospitals' increased market share in the end-use segment.
By region: North America accounted for a sizeable percentage attributable to a consistent number of strategic partnerships intended to create a new generation of products. Demand in this region is expected to increase due to the implementation of strict regulatory and reimbursement frameworks to ensure patient safety and high medical device standards. Technological advancements have given rise to minimally invasive surgeries in the U.S. These factors are anticipated to boost the North America retinal surgery devices market share in the coming years. In addition, identified eye and vision issues in the U.S. affected about 6.8% of children under 18. More than 3% of kids younger than 18 were either blind or visually impaired, defined as having vision problems even with the use of glasses or contact lenses.
Competitive AnalysisCompetitive analysis and profiles of the major retinal surgery devices market players, such as Alcon, Carl Zeiss AG, Bausch & Lomb Incorporated, Ellex Medical Lasers, Topcon Corporation, IRIDEX Corporation, Synergetics USA, Inc., Escalon Medical Corp., Second Sigh Medical Products, and Erbe Elektromedizin are described in this report. Mergers and acquisitions are the key strategies adopted by the companies operating in this market. These companies have adopted key strategies such as product launches and acquisitions to improve their product portfolios and stay competitive in the market.
Key Market Segments
- By Product
- Vitrectomy Machines
- Vitrectomy Packs
- Surgical Instruments
- Microscopic Illumination Equipment
- Retinal Laser Equipment
- Photocoagulation Devices
- Photodisruption Devices
- SLT
- Others
- By Application
- Diabetic Retinopathy
- Retinal Detachment
- Epiretinal Membrane
- Macular Hole
- Others
- By End User
- Hospitals
- Eye Clinics
- Others
- By Region
- North America
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Thailand
- Malaysia
- Indonesia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Argentina
- Rest of LAMEA
Key Market Players
- Bausch & Lomb Incorporated
- Escalon Medical Corp.
- Alcon
- Ellex Medical Lasers
- Carl Zeiss AG
- IRIDEX Corporation
- Second Sigh Medical Products
- Topcon Corporation
- Erbe Elektromedizin
- Synergetics USA, Inc.