SAN FRANCISCO, Oct. 27, 2021 /PRNewswire/ -- The global vitrectomy devices market size is expected to reach USD 1.7 billion by 2028. The market is expected to expand at a CAGR of 6.2% from 2021 to 2028. The growing prevalence of diabetes is expected to drive the probability of diabetic retinopathy, thus, contributing to market growth. Additionally, the growing demand for vitrectomy due to its associated advantages for providing support to other ophthalmic surgeries is also expected to boost the market growth.
Key Insights & Findings:
- The vitrectomy machines held the largest revenue share in 2020 owing to the development of advanced machines with features such as small gauge size, and intraocular pressure control
- The vitrectomy packs segment is expected to grow at the fastest rate during the forecast period owing to its growing adoption for various indications
- The retinal detachment application segment is expected to grow at the fastest rate over the forecast period owing to the growing prevalence of high myopia. Patients with high myopia have a larger probability of developing retinal detachment
- The ambulatory surgical centers segment is expected to exhibit the highest growth rate during the forecast period due to its reduced costs and shorter wait time
- In Asia Pacific, the market is expected to grow at the highest rate due to the maximum cases of diabetic retinopathy in the region and the presence of a large patient pool
Read 120 page market research report, "Vitrectomy Devices Market Size, Share & Trends Analysis Report By Product, By Application (Diabetic Retinopathy, Retinal Detachment), By End-use (Hospitals, Ambulatory Surgical Centers), By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research
Ophthalmic diseases are seen prevalent in the elderly population. The growing geriatric population is expected to drive the market and the need for vitrectomy devices. As per the National Institute on Aging (NIA), the elderly population is expected to reach 72.0 million people by 2030, which may drive the prevalence of ophthalmic disorders. In addition to this, an increasing number of hospital admissions for retinal surgeries such as vitrectomy is expected to drive market growth. Moreover, hospitals have also installed vitrectomy devices to enhance vitreoretinal surgery procedures.
COVID-19 is expected to negatively impact the market in 2020. This is due to the reduction in medical setting visits for ophthalmic care to avoid the spread of infection. Additionally, people with COVID have to experience ophthalmic problems like conjunctivitis, which in turn, is causing hindrance among the medical professionals to perform general ophthalmic surgeries. However, the development of government guidelines to provide constant and effective medical care including ophthalmology may boost market growth during the forecast period.
The risks associated with vitrectomy are also expected to hinder the market growth. Patient undergone vitrectomy has a high probability of generating cataract after few years, thus, negatively impacting its adoption. Additionally, the lack of professional ophthalmologists to understand the operations of advanced vitrectomy devices with multiple functionalities may also pose a threat to the market.
Grand View Research has segmented the global vitrectomy devices market on the basis of product, application, end-use, and region:
- Vitrectomy Devices Product Outlook (Revenue, USD Million, 2016 - 2028)
- Vitrectomy machines
- Vitrectomy packs
- Photocoagulation lasers
- Illumination devices
- Vitrectomy Devices Application Outlook (Revenue, USD Million, 2016 - 2028)
- Diabetic retinopathy
- Retinal detachment
- Macular hole
- Vitreous hemorrhage
- Others
- Vitrectomy Devices End-use Outlook (Revenue, USD Million, 2016 - 2028)
- Hospitals
- Ophthalmic Clinics
- Ambulatory Surgery Centers
- Vitrectomy Devices Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- Thailand
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
List of Key Players of Vitrectomy Devices Market
- Alcon Inc.
- Bausch & Lomb Incorporated
- BVI
- NIDEK CO., LTD.
- Johnson & Johnson Vision Care, Inc.
- Blink Medical
- Topcon Corporation
- Carl Zeiss Meditec AG
- Hoya Surgical Optics
Browse through Grand View Research's coverage of the Global Medical Devices Industry:
- Ophthalmic Viscosurgical Devices Market – The global ophthalmic viscosurgical devices (OVD) market was valued at USD 285.2 million in 2018 and is expected to expand at a CAGR of 7.9% over the forecast period.
- Ophthalmic Photocoagulator Market – The global ophthalmic photocoagulator market size was valued at USD 150.6 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.7% from 2021 to 2028.
- Retinal Surgery Devices Market – The global retinal surgery devices market size was estimated at USD 1.56 billion in 2016 and is anticipated to grow at a CAGR of 7.8% during the forecast period.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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