Driving Forces of United States Retinal Surgery Market
Growing ageing population
The aging population has a major impact on the growth of the retinal surgery device market in the United States. Age-related retinal problems, including diabetic retinopathy and age-related macular degeneration (AMD), are becoming more common as the Baby Boomer population ages. The prevalence of these disorders among older persons is increasing, which is fueling the need for efficient retinal surgical procedures. As baby boomers continue to age past retirement, it is anticipated that the U.S. population will age more quickly than any other age group in the nation during the following ten years. Every day, more than 10,000 Americans become 65 years old. The natural aging process can cause degenerative changes in the retina, putting older persons at higher risk for a variety of retinal illnesses. A greater number of patients may need sophisticated surgical procedures as a result of this demographic shift in order to manage and possibly even reverse vision deterioration. Furthermore, older persons are more likely to seek treatment for issues related to their vision and often have easier access to healthcare. The need for retinal surgery instruments is further fueled by this rise in healthcare consumption.Rising Incidence of Retinal Disorders
The US market for devices used in retinal surgery is expanding due in large part to the rising prevalence of retinal illnesses. The aging population and the impact of lifestyle choices on the prevalence of retinal problems lead to an increased demand for complex surgical operations. AMD (age-related macular degeneration), diabetic retinopathy, and retinal detachment are the main problems causing this trend; as the population ages and diabetes rates rise, so do these three conditions. For instance, the CDC estimates that 12 million Americans aged 40 and above had visual impairment in 2021. There were one million blind people, three million people with corrected vision impairment, and eight million people with uncorrected refractive error-related visual impairment. In addition, 6.8% of US children under the age of 18 received a diagnosis of an eye or vision problem. Approximately 3% of children under the age of 18 were classified as blind or visually impaired, meaning they had problems seeing even with glasses or contact lenses. Thus, there is an increasing need for retinal procedures due to the nation's growing incidence of eyesight issues.Additionally, the rise in retinal illnesses has accelerated the demand for specialist instruments for retinal surgery, including sophisticated lasers, imaging systems, and surgical instruments made to handle these intricate problems. The increase in patients seeking treatment has forced healthcare practitioners to adopt state-of-the-art technologies to improve patient outcomes and quality of life. As a result, the growing prevalence of retinal illnesses directly propels market expansion and innovation in the retinal surgery device industry.
Technological Advancements
One of the primary drivers of growth for the U.S. market for retinal surgery instruments is technological developments. The effectiveness and accuracy of retinal treatments have been greatly improved by advances in surgical technologies. The development of minimally invasive methods, which shorten recovery periods and enhance patient outcomes, is one of the major advancements. More precise diagnosis and focused therapy are made possible by advanced imaging technologies like fluorescein angiography and optical coherence tomography (OCT), which offer detailed views of retinal structures.Furthermore, Conventional retinal surgeries have changed with the advent of cutting-edge equipment such as robotically assisted surgical instruments and 3D operative imaging systems. These innovations lower the possibility of problems and improve surgical precision. Furthermore, advances in laser technologies, such as the application of high-resolution lasers for retinal photocoagulation, provide more efficient therapies for diseases including macular degeneration and diabetic retinopathy. Due to ongoing attempts to create novel materials and technologies, as well as advancements in data analytics and artificial intelligence, the market is anticipated to continue growing. The U.S. market for retinal surgery equipment has grown overall as a result of these advances, which also increase patient demand for cutting-edge treatment alternatives.
Florida Retinal Surgery Devices Market
The market for devices used in retinal surgery in Florida is expanding significantly, propelled by a number of important causes. First off, the demand for retinal surgical procedures is greatly influenced by Florida's sizable and aging population. Advanced surgical therapies are required for age-related retinal illnesses such diabetic retinopathy and age-related macular degeneration (AMD), which are becoming more common as the state's elderly population develops.In Florida, technological developments are another important factor fueling business expansion. Innovative retinal surgery technologies, such as minimally invasive procedures, high-resolution imaging systems, and advanced laser and surgical instruments, are being progressively adopted by the state's healthcare facilities. The need for cutting-edge surgical treatments is increased by these technologies, which improve patient outcomes and treatment precision.
Furthermore, Florida's robust research institutes and healthcare system facilitate the creation and accessibility of state-of-the-art retinal technologies. The state makes sure that new technologies are swiftly incorporated into clinical practice by emphasizing accessibility and innovation in healthcare. The market is growing as a result of developments in patient education and growing awareness of retinal health.
United States Retinal Surgery Devices Company Analysis
The key players in United States Retinal Surgery Devices are Topcon Corporation, Alcon Inc., Carl Zeiss, Bausch Health Companies Inc, Iridex Corporation, Escalon Medicals Corp., Synergetics USA Inc. and Nidek Co. Ltd.United States Retinal Surgery Devices Company News
January 2023- Topcon Healthcare, a prominent supplier of medical equipment and software to the worldwide eye care community, has announced the release of the NW500, a new robotic fundus camera that is easy to use and produces accurate, high-quality images even in low light.April 2022-Parkhurst NuVision introduced EVO Visian ICL, a revolutionary vision device, in the US following FDA approval.
Product - Market breakup in 6 viewpoints:
1. Vitrectomy Machines2. Vitrectomy Packs
3. Surgical Instruments
4. Microscopic Illumination Equipment
5. Retinal Laser Equipment
6. Others
Application - Market breakup in 5 viewpoints:
1. Diabetic Retinopathy2. Retinal Detachment
3. Epiretinal Membrane
4. Macular Hole
5. Others
End User - Market breakup in 3 viewpoints:
1. Hospitals2. Eye Clinics
3. Others
Countries - Market breakup in 29 viewpoints:
1. California2. Texas
3. New York
4. Florida
5. Illinois
6. Pennsylvania
7. Ohio
8. Georgia
9. New Jersey
10. Washington
11. North Carolina
12. Massachusetts
13. Virginia
14. Michigan
15. Maryland
16. Colorado
17. Tennessee
18. Indiana
19. Arizona
20. Minnesota
21. Wisconsin
22. Missouri
23. Connecticut
24. South Carolina
25. Oregon
26. Louisiana
27. Alabama
28. Kentucky
29. Rest of United States
Key players have been covered from 5 Viewpoints:
- Business Overview
- Key Persons
- Product Portfolio
- Recent Development & Strategies
- Financial Insights
Key Players Analysis:
- Topcon Corporation
- Alcon Inc.
- Carl Zeiss
- Bausch Health Companies Inc
- Iridex Corporation
- Escalon Medicals Corp.
- Synergetics USA Inc.
- Nidek Co. Ltd.
Table of Contents
Companies Mentioned
- Topcon Corporation
- Alcon Inc.
- Carl Zeiss
- Bausch Health Companies Inc
- Iridex Corporation
- Escalon Medicals Corp.
- Synergetics USA Inc.
- Nidek Co. Ltd.
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 200 |
Published | October 2024 |
Forecast Period | 2023 - 2032 |
Estimated Market Value ( USD | $ 647.14 Million |
Forecasted Market Value ( USD | $ 1183.75 Million |
Compound Annual Growth Rate | 6.9% |
Regions Covered | United States |
No. of Companies Mentioned | 8 |