Global Retinal Surgery Devices Market: Rapid Increase in Geriatric Population to Trigger Market Growth

The global retinal surgery devices market is expanding significantly on the account of rapid increase in the geriatric population base and the rise in the demand for minimally invasive surgical instruments across the globe.
In 2013, the global market for retinal surgery devices stood at US$1.22 billion. However, owing to the introduction of strong treatment methods for retinal implants and ophthalmic diseases and other technical advancements, analysts expect the market to expand at a CAGR of 7.3% during the period from 2014 to 2020 and reach a value of US$2.01 billion by 2020. The rise in the disposable income and various initiatives taken by several governments are some other prominent factors contributing to the growth of the global retinal surgery devices market in the near future.

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Conversely, the high prices associated with the retinal surgery devices are expected to create major hindrance in the growth trajectory of the retinal surgery devices market across the globe. However, the markets in emerging economies are expected to provide lucrative opportunities to the retinal surgery devices maker owing to the increasing patient base suffering from ophthalmic diseases.

As the global retinal surgery devices market is witnessing a rapid rise, let us talk about the performance of the regional markets:

· In 2013, the market in North America dominated the global retinal surgery devices market. The rising prevalence of ophthalmic disorders among the geriatric and diabetic population is the key reason behind the increasing demand for retinal surgery devices in this region.
o According to a 2014-report published by the Centers for Disease Control and Prevention (CDC), U.S., nearly 26 million people in the U.S. are diabetic and around 28% of diabetic population, who are of 40 years of age or older, have gone through diabetic retinopathy and other surgeries related to eye diseases occurring because of diabetes, giving rise to the market in this region.
o Apart from this, increase in research and development and technical advancements in the field of ophthalmic surgical devices coupled with rising awareness among people regarding surgical treatments of several retinal disorders have fueled the growth of the market for retinal surgery devices in North America.

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· The market in Asia Pacific is expected to register the highest growth rate during the period from 2014 to 2020. The ever-increasing population base, especially geriatric population, rising initiatives taken by various governments encouraging healthcare, and strong economic development in the region are the main factors behind the development of Asia Pacific retinal surgery devices market.
o The increasing level of awareness pertaining to eye-care among people is expected to drive the market in Asia Pacific.
The presence of high number of market participants have kept the global industry fragmented. Bausch + Lomb Incorp., IRIDEX Corporation, Synergetics Inc., Alcon Inc., Leica Microsystems, Carl Zeiss Meditec AG, NIDEK CO. Ltd., Lumenis, Topcon Corp., and Optos plc. are the major players operating in the global retinal surgery devices market.