Report and data release on March 25, 2020
The global retinal surgical instrument market was valued at US$1.91 billion in 2019 and is expected to reach US$3.53 billion by 2027, with a compound annual growth rate of 8%. During the forecast year, the main factors driving the growth of the retinal surgery equipment market are technological advancement and the continuous increase in the application of surgical equipment. In addition, it is expected that during the forecast period, the growing elderly population and the increase in the prevalence of eye-related retinal diseases will accelerate the growth of the global market. Global emerging economies are expected to further provide potential growth opportunities for the market. Low compliance rates and non-compliance with treatments designed to reduce the risk of vision loss from diabetic retinopathy are also expected to shift the focus to surgical equipment, thereby driving market growth. Patients’ non-compliance with vision care guidelines is considered a complex health problem. According to a study conducted by NCBI, it was found that one-third of diabetic patients failed to follow the US vision care guidelines. In addition, in emerging economies such as China and India, the non-compliance rate exceeds 60%.
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The growing elderly population is more likely to suffer from retinal ophthalmopathy, which further broadens the growth foundation of the retinal surgery equipment market. According to estimates by the World Health Organization, by 2050, the total number of people aged 60 and over in the world is expected to increase from 900 million in 2015 to 2 billion. Currently, there are approximately 125 million people aged 80 years and over. The main driving force of the global retinal surgery equipment market is the increasing prevalence of ophthalmic diseases, especially diabetic retinopathy. According to the National Diabetes Statistics, one in ten people have diabetes, accounting for nearly 9.4% of the total population of the United States. In addition, the number of newly diagnosed type 1 and type 2 diabetes cases among young people has increased and is expected to increase further. These are some of the main key factors that will promote market growth during the forecast period.
However, the high cost associated with retinal surgery equipment, the low adoption rate of these applications (especially in developing countries), strict government regulations related to medical equipment, strict guidelines, insufficient reimbursement, and the cost of treatment, product design, and development High costs, coupled with the demand for advanced integrated technologies for retinal surgery, are the main factors that are expected to limit market growth.
The further main findings of the report indicate
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For the purpose of this research, the report and data segment the retinal surgery equipment market based on product, application, end use, and region:
Regional outlook (income in millions of US dollars; 2017-2027)
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