Vitrectomy Devices Market Revenue, Forecast, Competitive Landscape, Growth Factors, and Trends : by Product (Vitrectomy Machines, Vitrectomy Packs, Photocoagulation Lasers, Illumination Devices), by Application (Diabetic Retinopathy, Retinal Detachment, Macular Hole, Vitreous Haemorrhage), by End-use (Hospitals, Ophthalmic Clinics, and Ambulatory Surgery Centers), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
According to MRFR analysis, the global vitrectomy devices market is expected to register a CAGR of ~6.5% from 2021 to 2030 and hold a value of ~USD 1,900 million by 2028.
The global vitrectomy devices market is driven by several factors, such as the increased occurrence of diabetes worldwide, rising awareness among the population, growing demand for non-invasive techniques, and booming aging population. Furthermore, the market players are engaged in research and development activities around the globe. The industry players are focusing on the development of technologically advanced devices for better accuracy in surgery.
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The vitrectomy devices are the devices used for performing a vitrectomy procedure. These devices allow the surgeon to carry out the surgery efficiently with low invasion. The surgery is concluded with safety and ideal results, using vitrectomy surgery equipment, such as vitrectomy supplies and systems. The commonly used vitrectomy devices are vitrectomy machines, tamponades, scissors, light pipes, probes, and lasers. These devices are advanced and makes the surgery less invasive. The technological advancements in the field is introducing highly advanced devices. These devices are of great application for the development of the market in the projected time period. Looking forward, robotics will play a major role in vitrectomy. The technology will enable the surgeon to perform gentle tasks without damaging adjacent tissues.
Regional Analysis
North America is expected to dominate the vitrectomy devices market, owing to high prevalence of ophthalmic diseases, adoption of technologically advanced devices, and presence of major industry players across the region. In addition, increasing investments in RD of the products by the government and private organizations have surged the level of competition among the market players. The prominent players are also involved in collaborations, partnerships, and high investments in RD activities, which contribute to market growth.
Asia-Pacific is anticipated to be the fast-growing regional market during the forecast period due to increasing investment in healthcare infrastructure, rising number of geriatric population, and growing awareness among the healthcare professionals about advanced vitrectomy devices. In addition, the availability of qualified physicians for consultation and treatment of ophthalmic diseases is creating opportunities for industry players.
Furthermore, the growth of the market in the Rest of the World is attributed to the technological advancements in devices along with the expansion of distribution channels throughout the region.
Segmentation
The global vitrectomy devices market has been segmented into products, applications, and end user. By products, the market has been segregated into vitrectomy machines, vitrectomy packs, photocoagulation lasers, and illumination devices. The vitrectomy machines segment is expected to hold a significant share of the market in 2021. This is attributed to the advancement in the machines which improves the effectiveness of the surgery.
Based on application, the global vitrectomy devices market has been classified as diabetic retinopathy, retinal detachment, macular hole, vitreous hemorrhage, and others. The diabetic retinopathy segment is expected to grow at a rapid pace during the forecast period, owing to a large number of cases of diabetic retinopathy around the globe.
On the basis of end-user, the global vitrectomy devices market is segregated into hospitals, ophthalmic clinics, and ambulatory surgery centers. The hospital segment holds the major share throughout the study period. The growing number of cases of ophthalmic-related patients around the world is contributing to market growth. The hospitals offer the necessary treatment required, which boosts the segment growth.
Key Players
Some of the key players in the global vitrectomy devices market are Alcon Inc. (Switzerland), Bausch Lomb Incorporated (Canada), BVI (US), NIDEK CO., LTD. (Japan), Johnson Johnson Vision Care, Inc. (US), Blink Medical (UK), Topcon Corporation (Japan), Carl Zeiss Meditec AG (Germany), Carl Zeiss Meditec AG (Germany), HAAG-STREIT GROUP (Switzerland), and MedOne Surgical, Inc (US) among others.
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