Market Scope expects the retinal surgical device market to account for more than $1.8 billion in sales in 2019, as surgeons continue to use more specialized products in retinal surgery than any other ophthalmic surgical subspecialty.
Vitrectomy machines, dedicated machine packs, and vitrectomy surgical accessories will account for nearly 82 percent of revenues in 2019, while lasers will account for another 15 percent of the market.
Retinal implants, while only a tiny contributor today, are expected to show significant growth in the coming years.
The firm projects total retinal device revenues of $2.4 billion in 2024.
Market Scope’s “2019 Retinal Surgical Device Report” analyzes the markets for vitrectomy machines, packs, accessories (retinal and cautery instruments, illuminator consoles and probes, cryosurgical devices, scleral buckles, ocular gases, ocular dyes, and silicone oil), and photocoagulation lasers. The firm estimates that nearly 1.8 million vitrectomies will be performed globally in 2019.
Per-procedure revenues for vitrectomy surgery typically are 10 to 15 times greater than cataract surgery because of the numerous products required, even though vitrectomy procedure volume is far lower than cataract surgery volume.
Several factors over the next 5 years will spur retinal device market growth: an increase in the elderly population and age-related retinal diseases associated with this population group, a dramatic rise in the number of diabetic retinopathy patients, 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 retinal surgical device market. Therefore, we assess the underlying disease states that drive the need for vitrectomies and evaluate the current and forecasted number of vitrectomies performed by country or region of the world.
Wealthy markets are expected to show strong sales growth over the next five years, but developing countries, especially China and India, are expected to see more than 8 percent growth per year. Growth in these countries will be driven by rapidly growing elderly populations, advancing economies, improving health care infrastructures, increases in the number of trained retina specialists, and the increasing use of retinal surgical devices.