Retinal detachment occurs when retinas separate from its layers of support. Most retinal detachments occur owing to retinal tear, break, or hole. Depending upon how much time the retina is detached, the condition can cause the partial to total blindness. The severity of the condition makes the early diagnosis of the same imperative for curing retinal detachment.
The detailed report released by Market Research Future (MRFR) states that the global retinal detachment market is expected to experience a period of decent growth over the forecast period. The market is projected to grow at a CAGR of 5.9% between 2017 and 2023. Furthermore, the market valuation is calculated to reach USD 2689.2 million by the end of the assessment period.
One of the key factors influencing the demand of the market is the increasing prevalence of retinal detachment. On average, 10-15 out of 100,000 people succumb under this condition. Evolving and advancing technologies, investment by top players on R&D activities for new product development as well as for improving the existing products, increasing awareness concerning this disorder, favorable initiatives undertaken by the government, and adoption of new medical devices across hospitals are slated to also push the market position of retinal detachment.
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The global retinal detachment market includes a host of leading and pioneering organizations. This includes Centervue SpA (Italy), Carl Zeiss Meditec, Inc. (US), HealPros, LLC (US), Imagine Eyes (France), Optos (UK), Neurovision Imaging, LLC. (US), Co:Lab Pensacola (US), Eyenuk Inc (US), Peek Vision Ltd. (UK), and others.
November 2018, it was published in the journal of the American Academy of Ophthalmology that minimally invasive treatment for retinal detachment provides patients with sharper visionary capability, reduced side-effects, and less distortion. The randomized controlled trial was performed in Toronto at the St. Michael’s Hospital.
The global retinal detachment market segmentation is based on the following key dynamics: type, treatments, end-users, and diagnosis.
- By Type, the market divides into tractional, rhegmatogenous, exudativem, and others.
- By Diagnosis, the market includes fluorescein angiography, fundus photos, imaging, retinal examination, visual field test, and others. Imaging tests is segmented into ultrasound imaging and others. Furthermore, ultrasound imaging is segmented into A-scan, B-scan, and others.
- By Treatments, the market comprises of retinal detachment, retinal tears, and others. The retinal tears segment further narrows down into freezing (cryopexy), laser surgery (photocoagulation), and others. Whereas, retinal detachment segment breaks down into vitrectomy, pneumatic retinopexy, scleral, and others.
- By End-user, the market includes academic institutes, eye hospitals and clinics, medical research centers, and others.
A geographical outlining of the global retinal detachment market covers the Americas (North America & Latin America), Asia Pacific, Europe, and the Middle East & Africa (MEA).
The Americas is the largest regional market with North America alone displaying the potential to be the largest regional market. Technological advancement and the availability of advanced medical facilities, funding for R&D, presence of major market players, high disposable income, and more investment in healthcare, make North America the bigger regional market segment compared to Latin America. Maximum market players, as well as revenue in this region, can be seen in the USA, followed by Canada.
Europe is the second-largest regional market. Government investment and support for the healthcare industry, high density of population, high disposable income, and presence of some key market players are triggering this growth. The most powerful country-specific markets in Western Europe are France, Germany, Italy, Spain, and the UK. An observation of the remaining countries in Western Europe featured in this report speculate the huge addition to market revenue from some other countries in this region, along with a sizable amount of revenue from Eastern Europe.
Due to developing healthcare infrastructure, increasing awareness, surging healthcare expenditure, and growing adoption of new devices as well as treatment options, Asia Pacific region can be the fastest growing regional market during the forecast period. Vital country-specific markets in this region are India, China, Japan, and South Korea. An analysis of the remaining countries in the Asia Pacific region featured in this report estimates the huge contribution to market revenue from some other countries.
The MEA region is expected to grow slower during the forecast period. UAE and Saudi Arabia are dominating this market due to high income, availability of top-class medical facilities, and government support to improve public healthcare. Egypt is another important country-specific market in this region. A valuation of the remaining countries in the MEA region featured in this report anticipates a decent contribution to market revenue from some other countries.