Retinal detachment occurs when retinas separate from its layers of support. Most retinal detachments occur owing to retinal tear, break, or hole. Depending upon how much time the retina is detached, the condition can cause the partial to total blindness. The severity of the condition makes the early diagnosis of the same imperative for curing retinal detachment.
The detailed report released by Market Research Future (MRFR) states that the Global Retinal Detachment Market is expected to experience a period of decent growth over the forecast period. The market is projected to grow at a CAGR of 5.9?tween 2017 and 2023. Furthermore, the market valuation is calculated to reach USD 2689.2 million by the end of the assessment period.
One of the key factors influencing the demand of the market is the increasing prevalence of retinal detachment. On average, 10-15 out of 100,000 people succumb under this condition. Evolving and advancing technologies, investment by top players on R&D activities for new product development as well as for improving the existing products, increasing awareness concerning this disorder, favorable initiatives undertaken by the government, and adoption of new medical devices across hospitals are slated to also push the market position of retinal detachment.
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The global retinal detachment market segmentation is based on the following key dynamics: type, treatments, end-users, and diagnosis.
By type, the market divides into tractional, rhegmatogenous, exudativem, and others.
By diagnosis, the market includes fluorescein angiography, fundus photos, imaging, retinal examination, visual field test, and others. Imaging tests is segmented into ultrasound imaging and others. Furthermore, ultrasound imaging is segmented into A-scan, B-scan, and others.
By treatments, the market comprises of retinal detachment, retinal tears, and others. The retinal tears segment further narrows down into freezing (cryopexy), laser surgery (photocoagulation), and others. Whereas, retinal detachment segment breaks down into vitrectomy, pneumatic retinopexy, scleral, and others.
By end-user, the market includes academic institutes, eye hospitals and clinics, medical research centers, and others.
The global retinal detachment market is geographically segmented into the four key regions, namely the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas market holds the largest share in the global market standings of retinal detachment. The Americas region is segmented into two key regions Latin America and North America. Among the two regions, the North American region dominates with the maximum market share over its counterpart. Major drivers of the regional market include technological advancements and research and development funding from government and private enterprises.
The Europe is the second-largest regional market following the Americas in terms of generating revenue. The European region is segmented primarily into Eastern and Western Europe. The Western European region hold a majority of the market due to the presence of developed countries like France, Germany, and the UK. Whereas, the Eastern European countries lack the same market share, however, it is expected to grow significantly over the forecast period.
The Asia Pacific region holds the potential to be the fastest growing region in the global market for retinal detachment market. The regional market is positively influenced by the developing healthcare infrastructure, increasing healthcare expenditure, growing awareness, and high percentage of adoption of new devices and treatment methodologies.
The Middle Eastern and African market is expected to experience the least percentage of growth as compared to the global average. The slight share of growth of the Middle Eastern region can be attributed to countries like Saudi and the UAE, primarily due to the availability of various high-rated medical facilities, favorable support from the government for improving public health, and prevalence of high-income groups.
The global retinal detachment market includes a host of leading and pioneering organizations. This includes Centervue SpA (Italy), Carl Zeiss Meditec, Inc. (US), HealPros, LLC (US), Imagine Eyes (France), Optos (UK), Neurovision Imaging, LLC. (US), Co:Lab Pensacola (US), Eyenuk Inc (US), Peek Vision Ltd. (UK), and others.
November 2018, it was published in the journal of the American Academy of Ophthalmology that minimally invasive treatment for retinal detachment provides patients with sharper visionary capability, reduced side-effects, and less distortion. The randomized controlled trial was performed in Toronto at the St. Michael's Hospital.
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