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2021-12-10 • Jay Sharma
The global Retinal Surgery Devices market was valued at USD 1.77 billion in 2018 and is expected to reach USD 3.27 billion by the year 2026, at a CAGR of 8.0%. The major factors driving the growth of the retinal surgery devices market during the forecast years are the rising technological advancements and the growing number of applications of surgical devices. Moreover, the ever-increasing geriatric population and the rising prevalence of eye-related retinal disorders are anticipated to accelerate the growth of the global market in the forecast period. The emerging economies worldwide are projected to offer potential growth opportunities for the market further. Low compliance rate and non-adherence to therapeutic approaches that are formulated to reduce vision loss risk in diabetic retinopathy are also expected to shift the focus towards surgical devices, thereby fueling the market growth. Non-compliance with the vision care guidelines by the patients is recognized as a complex health issue. According to research conducted by NCBI, one-third of the diabetic patients were found to be unsuccessful in following the vision care guidelines in the United States. Also, in emerging economies such as China & India, the non-adherence proportion exceeds 60%.
The growing geriatric population possesses greater susceptibility towards developing retinal eye diseases, which further broadens the base for the growth of the retinal surgery devices market. According to the WHO, by 2050, the world's population aged 60 years and older is expected to total 2 billion, up from 900 million in 2015. Presently, about 125 million people are aged 80 years or older. The global retinal surgery devices market is primarily driven by the increasing prevalence of ophthalmic conditions, especially diabetic retinopathy. According to the National Diabetes Statistics, one often is suffering from diabetes, which is nearly 9.4% of the total U.S population. Moreover, newly diagnosed diabetes cases of type 1 and type 2 have increased among the youth, and it is further expected to increase. These are some of the major key factors which are responsible for boosting the market growth during the forecast period.
Top Companies Profiled in the Report Include:
Alcon, Bausch & Lomb Incorporated, Carl Zeiss, Topcon Corporation, Synergetics, IRIDEX Corporation, Ellex Medical Lasers, Escalon Medicals, Second Sigh Medical Products, and Erbe Elektromedizin.
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