New York, United States, April 18, 2023 (GLOBE NEWSWIRE) -- The Global Retinal Detachment Disorder Market Size is To Grow from USD 1.7 Billion in 2021 to USD 3.5 Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 8.3% during the forecast period. The factors which are driving this growing share of the market are emerging markets and significant investment in research and development.
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A disorder of retinal detachment is a disorder when the retina, the delicate layer of nerve tissue lining the back of the eye, separates from its normal position. Retinal detachment occurs when the layer of blood vessels that feeds and oxygenates the retinal cells becomes detached from them. Retinal detachment is a harmful eye disorder in which a thin layer of tissue (the retina) tears away from its normal place in the back of the eye. Longer instances of untreated retinal detachment raise the possibility of permanent vision loss in the affected eye. There are three main methods by that retinal detachment can happen, such as, rhegmatogenous, tractional, and exudative. According to WHO, about 80% of blindness worldwide is preventable, meaning the disease can be treated if the necessary information and medical measures are given at the appropriate time or arise from certain situations that can be avoided. Retinal breaks, tears, or holes are the most common causes of retinal detachments. Retinal detachment can cause complete or partial blindness, depending on how much of the retina has detached.
The growing technological advancements and an increase in cases of retinal detachment are anticipated to propel the market share. An increase in the number of eye surgeries is also anticipated to drive growth in the market. Moreover, the market is expanding as a result of factors such as an aging population, a rise in the prevalence of eye conditions like diabetic retinopathy, as well as other factors. Increasing numbers of individuals are becoming aware of eye problems such as cataracts, glaucoma, dry eye disease, and others, which enhances the need for eye therapies and is expected to boost market growth during the forecast period. Furthermore, owing to the high cost of the equipment used in retinal surgery, the market growth of retinal detachment conditions is constrained. Additionally, the lack of qualified specialists is a restraint on expansion.
Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on "Global Retinal Detachment Disorder Market Size, Share, and COVID-19 Impact Analysis, By Type (Rhegmatogenous Retinal Detachment, Tractional Retinal Detachment, Exudative Retinal Detachment), By Treatment (Photocoagulation [Laser Surgery], Cryopexy [Freezing], Pneumatic Retinopexy, Scleral Buckling and Vitrectomy), By End Users (Hospitals, Clinics, Speciality Centers, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa)), Analysis and Forecast 2021 – 2030". Get Detailed Report Description Here:
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COVID 19 Impact
The market for retinal detachment disorders has been impacted by COVID-19. The governments-imposed limitations and lockdown measures have interrupted the medical care provided in eye clinics and hospitals, which has reduced the need for equipment. For instance, from the pre-pandemic to the pandemic period, there was a 41.6% decrease in rhegmatogenous retinal detachment (RRD) procedures in France, according to a study that was published in november 2021 in the British Journal of Ophthalmology. As a result, the demand for instruments, accessories, and other surgical items has fallen as a result of the reduced surgical procedures for RD, which has had an influence on market growth throughout the pandemic period. The need for eye surgery has increased, though, as a result of the procedures being resumed and the rise in hospital visits. The market is therefore anticipated to expand and recover.
The rhegmatogenous segment is holding the largest market share over the forecast period.
Based on the types, the global retinal detachment disorder market is bifurcated into different segments include, rhegmatogenous retinal detachment, tractional retinal detachment, and exudative retinal detachment. Among these, the rhegmatogenous segment is dominating the market share over the forecast period due to rhegmatogenous retinal detachment being increasingly prevalent in the older population. According to the United Nations' 2017 "World Aging Population" research, as the world's older population grows, more people are expected to suffer from RRD, and early disorder discovery helps patients avoid financial hardship as a result.
The hospital segment is dominating the market share during the forecast period.
Based on the end users, the global retinal detachment market is segmented into hospitals, clinics, specialty centers, and others. Among these segments, the hospital segment is dominating the largest market share due to the hospital segment offers a variety of treatments for retinal detachment, including surgery, laser therapy, and cryotherapy (freezing), which could boost market share during the projection period. Additionally, hospitals with modern facilities and sufficient resources can treat the growing number of individuals who suffer from this disorder.
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Global Retinal Detachment Disorder Market, By Treatment
The retinal detachment market, by treatment, has been segmented into different segments, such as photocoagulation (laser surgery), cryopexy (freezing), pneumatic retinopexy, scleral buckling, and vitrectomy.
North America is dominating the largest market share of 41.3% during the forecast period
North America accounts for the largest market share during the forecast period, owing to the Increasing awareness of retinal detachment in this region and an increase in the number of patients with this condition. Furthermore, due to the presence of a strong healthcare infrastructure with access to cutting-edge technologies, this region would dominate the market during the projected period
The Asia Pacific region is predicted to expand at the fastest growth rate over the projected period, due to a growing elderly population and efficient reimbursement policies.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Retinal Detachment Disorder Market include Carl Zeiss Meditec AG, Meridian AG, IRIDEX Corporation, Ellex Medical Lasers Ltd, FCI, Millennium Surgical Corp., BVM Medical Limited, Lombart Instrument, Inc., Welch Allyn, and many others.
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Recent Development
December 2022: In Vashi, Navi Mumbai, ASG Eye Hospitals opened a brand-new specialist eye hospital for the treatment of simple to the most complex eye disorder. The hospital provides scleral buckling operations, vitrectomy treatments, and pneumatic retinopexy procedures for retinal detachment.
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