Retinal Surgery Devices Market Size, Share & Trends Analysis Report By Product, By Application (Diabetic Retinopathy, Retinal Detachment, Epiretinal Membrane, Macular Hole, Other), By End Use, By Region, And Segment Forecasts, 2024 - 2030

Retinal Surgery Devices Market Trends

The global retinal surgery devices market size was valued at USD 2.82 billion in 2023 and is projected to grow at a CAGR of 5.5% from 2024 to 2030. Rising prevalence of eye disorders, growing adoption of minimally invasive surgical equipment, technological advancements, increasing awareness, development in treatment options, increase in geriatric population, cost effectiveness and efficiency, increasing diabetes prevalence and growing healthcare expenditure in developing countries are the factors fueling the market growth.

There is an increasing awareness about eye problems and available treatment options. This increased awareness leads to early diagnosis and treatment of eye conditions, driving the demand for retinal surgical devices. The aging population is more prone to eye disorders such as cataracts, glaucoma and presbyopia.

Continuous technological advancements in healthcare devices, including retinal surgery devices, are driving market growth. Innovations focusing on improving safety, efficiency, and outcomes in retinal surgeries contribute to the increasing adoption of these devices. Also the increasing adoption of minimally invasive surgical instruments is a key driver for the market as MIS offers benefits such as faster recovery time, less pain to patients and reduced scarring.

Product Insights

Vitrectomy packs dominated the market with a revenue share of 31.0% in 2023. Vitrectomy packs streamline the surgical process by providing all necessary instruments in a single package, saving time during preparation and ensuring efficiency during surgery.

The retinal laser equipment segment is projected to grow at a CAGR of 5.9% from 2024 to 2030 due to its precision, effectiveness and versatility. Retinal laser equipment allows surgeons to precisely target specific areas of the retina, minimizing damage to surrounding tissues and improving treatment outcomes. The use of retinal laser equipment has been identified as effective in treating various retinal conditions such as diabetic retinopathy, retinal tears and macular degeneration. Technological advancements, rising demand for minimally invasive procedures and expanding applications in ophthalmic surgeries are driving the market growth.

Application Insights

The diabetic retinopathy segment accounted for the largest revenue share of 29.8% in 2023. Diabetic retinopathy is a leading cause of blindness worldwide. This condition affects the blood vessels in the retina, leading to vision impairment and potential blindness. Due to high prevalence of diabetes globally, diabetic retinopathy has become a significant concern in ophthalmology. Early detection and effective management of diabetic retinopathy through specialized surgical devices is driving the market growth.

The Epiretinal Membrane (ERM) segment is expected to grow at the fastest CAGR of 6.0% during the forecast period. The ERM is a growth of fibrous tissue on the surface of the retina which causes visual impairment. The increasing prevalence of age-related macular degeneration and diabetic retinopathy which can lead to ERM are the major driver in the market growth.

End Use Insights

The eye clinics segment dominated the market with a revenue share of 36.4%in 2023 owing to cost effectiveness, patient volume and specialized care. In addition growing awareness among the people is driving the market growth. It experiences a higher patient footfall because of accessibility and affordability. The increased volume allows clinics to use advanced surgical solutions. Also, clinics can provide improved treatment outcomes for patients due to their streamlined processes and specialized focus on eye care.

The hospital is projected to experience significant growth of CAGR of 5.0% during the forecast period. This is primarily due to its extensive infrastructure and medical services.  Hospitals experience consistent patient inflow due to facilities and specialists availability. Thus high volume of patients leads to adoption of retinal surgery devices in hospitals. The growing prevalence of eye disorders and comprehensive medical services at hospitals are increasing the demand for retinal surgery devices in hospitals.

Regional Insights

The North America retinal surgery devices market held a considerable share of 36.7% in 2023. It is attributable to technological advancements, high disease prevalence, the presence of key market players and skilled healthcare workforce in the region. North America has a skilled workforce of ophthalmologists and healthcare professionals specializing in retinal surgeries. The availability of professionals able to use advanced surgical devices increases the adoption rate of these devices. North America has a high prevalence of diabetic retinopathy, which is expected to increase as diabetes cases rise. According to International Diabetes Federation North America and the Caribbean is expected to reach 57 million adults with diabetes by 2030 and 63 million by 2045.

U.S. Retinal Surgery Devices Market Trends

The retinal surgery devices market in the U.S. dominated the North America market in 2023 and is anticipated to grow during the forecast period, 2024 to 2030. The U.S. has a significant population with various eye disorders that require retinal surgeries. The prevalence of conditions such as age-related macular degeneration, diabetic retinopathy and retinal detachments contributes to market growth.

Europe Retinal Surgery Devices Market Trends

The Europe retinal surgery devices market was identified as a lucrative region in 2023 due to the advanced healthcare infrastructure and facilities specializing in ophthalmic care across Europe. Access to advanced surgical procedures and equipment has increased, leading to higher demand for retinal surgery devices in the region.

The UK retinal surgery devices market is expected to grow rapidly in the coming years due to increased patient awareness about eye health, regular checkups and the availability of effective treatments that encourage patients to seek timely surgical interventions.

The Germany retinal surgery devices market is expected to grow substantially during the forecast period. Germany has high disposable income and a stable economy which enables individuals to afford advanced treatments.

Asia Pacific Retinal Surgery Devices Market Trends

Asia Pacific retinal surgery devices market is projected to witness the fastest CAGR from 2024 to 2030. This growth is owing to the significantly increasing investments in healthcare infrastructure and facilities in emerging economies such as China and India. Government initiative and investment in the healthcare sector is increasing the accessibility and affordability for the people of the region.

The Japan retinal surgery devices market is expected to grow significantly in the coming years due to the rise in the geriatric population in the country which leads to the high prevalence of age-related eye diseases.

The China retinal surgery devices market held a substantial market share in 2023 owing to China’s aging population and increasing high prevalence of age related eye disorders.

Key Retinal Surgery Devices Company Insights

Some of the key companies in the retinal surgery devices market include Alcon Inc.; Carl Zeiss Meditec AG; Bausch + Lomb; TOPCON CORPORATION; IRIDEX Corporation. Organizations in the market are focusing on increasing customer base to gain a competitive edge in the industry. Therefore, key players are taking several strategic initiatives, such as mergers and acquisitions, and partnerships with other major companies. 

• Alcon Inc. specializes in the development, manufacturing, distribution, and sale of technologies and devices related to ophthalmic surgery.

Recent Developments

• In July 2024, Alcon Inc. announced the acquisition of Belkin Vision. It aims to expand the Glaucoma portfolio with direct selective laser trabeculoplasty (SLT). As it identified that SLT is cost effective and clinically relevant treatment for open angle glaucoma and ocular hypertension.

• In April 2024, Carl Zeiss Meditec AG announced that it completed the acquisition of the Dutch Ophthalmic Research Center. This acquisition aims to enhance its ophthalmic portfolio and workflow solutions. This strategic move aims to drive innovation and expand market presence.

Retinal Surgery Devices Market Report Scope

Global Retinal Surgery Devices Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global retinal surgery devices report based on product, application, end use and region.

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Vitrectomy Machines

  • Vitrectomy Packs

  • Surgical Instruments

  • Microscopic Illumination Equipment

  • Retinal Laser Equipment

  • Others

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Clinical

  • Diabetic Retinopathy

  • Retinal Detachment

  • Epiretinal Membrane

  • Macular Hole

  • Others

• End-Use Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals

  • Eye Clinics

  • Others

• Regional Outlook (Revenue, USD Million; 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Argentina

  • Middle East & Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait