PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1437510
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1437510
Retinal Detachment Diagnostic Market size was valued at USD 1,118 Million in 2023, expanding at a CAGR of 6.5% from 2024 to 2032.
Retinal detachment is a serious eye condition where the retina, a layer of tissue at the back of the eye responsible for sensing light and sending visual signals to the brain, becomes separated from its normal position. This separation can lead to a loss of vision if not promptly treated.
Retinal Detachment Diagnostic Market- Market Dynamics
Growing prevalence of retinal disorders drives the market growth
The market is expanding due to the rising incidence of retinal illnesses. As of September 2021, 180 million individuals worldwide were estimated by the World Health Organization to be visually impaired, and 40-45 million were blind. According to the same source, over 80% of blindness worldwide is avoidable, meaning that the disease may be treated if the necessary information and medical procedures are given at the appropriate time or if it is the consequence of specific situations that can be avoided. The international community-which includes the World Health Organization and its member states, nongovernmental organizations (NGOs), the commercial sector, and other UN agencies-is making concentrated efforts to raise awareness.
Retinal Detachment Diagnostic Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.5% over the forecast period (2024-2032)
Based on disease type segmentation, the rhegmatogenous retinal detachment segment dominates the market
Based on diagnostics segmentation, the digital retinal camera segment is expected to hold the largest market share during the forecast period
Based on region, North America was the leading revenue generator in 2023
The Global Retinal Detachment Diagnostic Market is segmented based on Disease Type, Diagnostics and Region.
The market is divided into three categories based on disease type: rhegmatogenous retinal detachment, exudative serous or secondary retinal detachment and tractional retinal detachment. The rhegmatogenous retinal detachment segment dominates the market and is likely to maintain its dominance during the forecast period. RRD risk rises with age in people. This is because the retina and vitreous gel naturally deteriorate over time, increasing their vulnerability to tearing or separation. The enlarged eyes of myopic individuals may result in thinner retinas. Myopic people are more likely to have retinal detachment diagnostics because thin retinas are more likely to rupture. RRD risk can also be raised by a number of eye procedures, including cataract surgery and prior retinal detachment repair.
The market is divided into four categories based on diagnostics: digital retinal camera, ophthalmoscopy, fundus photography and flouroscent retinal angiography. The digital retinal camera segment is expected to hold the largest market share during the forecast period. Retinal detachment, age-related macular degeneration (AMD), glaucoma, and diabetic retinopathy are among the eye conditions that are becoming more commonplace worldwide. Early identification and monitoring of these disorders are greatly aided by digital retinal cameras.
Retinal Detachment Diagnostic Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to hold a maximum market share in 2023 and is expected to continue the same pattern during the forecast period. The regional growth is attributed to the increased frequency of degenerative diseases and the development of technology. Furthermore, an increase in AMD instances in the United States is anticipated to support regional development. It is anticipated that the expanding concerted efforts of major players to enhance their product lines and guarantee superior standards would accelerate the expansion of the regional market. The increased incidence of diabetes has led to a greater requirement for more regular retinal exams since diabetic individuals have a higher risk of suffering retinal detachment. Increased spending on healthcare in North America has made diagnostic procedures, such as retinal exams, more accessible. More people are now seeking assessment for retinal detachment as a result of this.
The key players in the Retinal Detachment Diagnostic market continually adopted various types of strategies such as merger and acquisition, product launch, expansion, collaboration and others to remain competitive in the market. The major players are Peek Vision Ltd, Canon Medical Systems Corporation, Revenio Group Corporation (Centervue SpA, Carl Zeiss Meditec Inc., Eyenuk Inc., HealPros LLC, ONL Therapeutics, Millennium Surgical Corp., Parata Systems (Synergy Medical) and Essilor International SA among others.
In April 2022, the purchase of surgical instrument makers Katalyst Surgical LLC and Kogent Surgical LLC was announced by Carl Zeiss Meditec in an effort to strengthen its position as a solution provider.
GLOBAL RETINAL DETACHMENT DIAGNOSTIC MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Peek Vision Ltd
Canon Medical Systems Corporation
Revenio Group Corporation (Centervue SpA)
Carl Zeiss Meditec Inc.
Eyenuk Inc.
HealPros LLC
ONL Therapeutics
Millennium Surgical Corp.
Parata Systems (Synergy Medical)
Essilor International SA