Retina surgery device sales are driven almost entirely by vitrectomy, a procedure which involves removal of the vitreous from the posterior chamber of the eye in order to reach and repair various retinal tissues—including removal of scar tissue, repair of retinal detachments, and treatment of macular holes.
An estimated 1.71 million vitrectomies will be performed globally in 2021, growing to 2 million by 2026.
Market Scope’s new “2021 Retinal Surgical Device Market Report” analyzes markets for vitrectomy machines, dedicated machine packs, vitrectomy surgical accessories, and dedicated retinal surgical instruments. The accessories include illuminator consoles and probes, cryosurgical devices, scleral buckles, ocular gases, ocular dyes, and silicone oil.
The report also addresses artificial vision retinal implants and telescope IOLs—devices that retina specialists may use to help patients with end-stage age-related macular degeneration (AMD) restore functional vision. Recent market dynamics have delayed realization of the retinal implant market opportunity.
Multiple factors will spur vitrectomy surgery and product revenue growth over the next 5 years: an increase in the elderly population and age-related retinal diseases associated with this population group; a dramatic rise in the number of patients afflicted with diabetic retinopathy; more doctors trained to perform retinal surgery; safer and more effective surgical device technologies; improving health care systems in emerging countries; and higher expectations of patients for vision improvement.
The number of vitrectomy procedures is the key driver of the retina surgical device market, and the report assesses the underlying disease states that drive the need for the procedure and evaluate the current and forecast number of vitrectomies performed by country/region of the world.
Burgeoning use of anti-VEGF intravitreal injections is slowing vitrectomy growth in countries that have adopted this treatment. Projected global vitrectomy growth of 2.8 percent yearly takes into account the downward pressure from anti-VEGFs.
Disposable and reusable surgical instruments used in retinal surgery represent a sizable market opportunity, with 2021 revenue of $244 million, growing to $294 million in 2026.
In 2021, wealthy regions—the US, Western Europe, Japan, and countries in Market Scope’s Other Wealthy Nations category (Canada, South Korea, Taiwan, Australia, etc.)—are expected to account for more than three-quarters of global retinal surgical device market revenue, and most market participants concentrate the bulk of their marketing efforts in these regions.
Health care expenditures in these markets are generally in the range of 6 to 14 percent of GDP, and a relatively high percentage of citizens have access to expensive retinal care. These markets also have sufficient numbers of well-trained retina specialists and institutional eye care infrastructures geared to care for patients who require retinal treatment.
More than 51 companies compete in the global retinal surgical device market, but most specialize only in one or two product categories. Just six companies—Alcon, Bausch + Lomb, DORC, Geuder, BVI, Oertli, and Hoya—account for nearly 80 percent of global revenue.