Share
Vitrectomy Devices Market Size, Share, and Analysis, By Product (Vitrectomy Machines, Vitrectomy Packs, Photocoagulation Lasers, Illumination Devices), By Application (Diabetic Retinopathy, Retinal Detachment, Macular Hole, Vitreous Haemorrhage, Others), By End Use (Hospitals, Ophthalmic Clinics, Ambulatory Surgical Centers) and Regional Forecasts, 2022-2032
Vitrectomy Devices Market size was USD 1.19 billion in 2021 and projected to grow from USD 1.4 billion in 2023 to USD 2.5 billion by 2032, exhibiting a CAGR of 6.8% during the forecast period.
Vitrectomy devices or tools are the vital medical instruments for the vitrectomy surgery. The frequently used devices include tamponades, vitrectomy machines, light pipes, scissors, lasers, and probes. Vitrectomy is performed to remove the vitreous and replace it with another fluid. The method is also applied in retinal detachment to prevent traction. This simplifies the procedure for various ophthalmic procedures and no longer allows the retina to detach.
Vitrectomy Devices Market is expected to reach USD 2.5 billion, growing at a CAGR of 6.8% during the forecast period owing to the rising cases of retinal injuries or damage and eye-related issues due to the growing geriatric population, which drives ophthalmic disorders. Increasing admissions in hospitals for retinal procedures like vitrectomies are also expected to rise. These factors are expected to boost the growth of Vitrectomy Devices Market over the forecast period.
Vitrectomy Devices Market is classified based on the Product into Vitrectomy Machines, Vitrectomy Packs, Photocoagulation Lasers, and Illumination Devices. The Vitrectomy Machines category registered major market share. The creation of modern machines with cutting-edge features is the key reason for the segment growth. Nevertheless, Vitrectomy Packs are expected to take the lead during the projected period. This is credited to the rising use of these packs for multiple purposes, including vitreous removal from the retina, epiretinal membrane removal, collective retinal surgery, and also posterior vitreous detachment.
Vitrectomy Devices Market is classified based on the Application into Diabetic Retinopathy, Retinal Detachment, Macular Hole, Vitreous Hemorrhage, and Others. The Macular Hole category held a major share in in 2020 and is projected to lead at a considerable rate. The retina's macular hole is located in the middle. An almost gel-like material called vitreous fills the centre of the eye. This gel begins to steadily shrink as people age and pushes away from the surface of the retina. At this crucial time, it could cause a macular hole or damage the retina. Macular holes often heal on their own, but the majority of them need a procedure called a vitrectomy to restore vision. A macular hole can also develop due to severe myopia, ocular trauma, and retinal detachment. Therefore, the increasing prevalence of these disorders is anticipated to accelerate segment growth.
Growing Geriatric Population and Awareness for Affordable Surgeries are Expected to Boost the Market Growth
The percentage of the senior population and technological developments in surgical equipment are driving the growth of the global Vitrectomy Devices Market. The use of less-invasive operating tools or devices and rising public knowledge about affordable surgical procedures are a few other factors that fuel the market growth. Other factor influencing the market growth include technological developments in vitrectomy treatments.
Increasing Number of Hospital Admissions for RRD is Expected to Boost the Market Growth
A significant rise in the admitted patients for rhegmatogenous retinal detachment and rising pars plana vitrectomy demand are also affecting market growth. In order to increase their acceptance and reach to satisfy the growing demand, market participants are showcasing advancements in the retina field at conferences.
Number of Hazards Associated with the Vitrectomy Surgeries May Restrain the Market Growth
Despite the fact that vitrectomy surgical techniques and equipment have a number of advantages, their wider use is likely to be hampered by the hazards involved. High intraocular pressure, retinal detachment, eye infection, and vitreous gel bleeding are among the dangers associated with vitrectomies. Also, following a vitrectomy, individuals may experience cataracts or several other eye issues.
Vitrectomy Devices Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. In 2020, North America held maximum share of the market. The rising prevalence of ocular conditions including diabetic retinopathy, macular holes, retinal detachments, etc. is predicted to aid the market progress in the region. Asia Pacific is anticipated to witness significant growth during the projection period. The implementation of vitrectomy tools is anticipated to be sparked by the presence of a sizable patient base in the region needing ophthalmic care.
Due to the COVID-19 several countries implemented lockdowns during the first half of 2020 which negatively impacted the Vitrectomy Devices Market. The medical facilities, including eye care centers, were only attending to emergencies and postponing non-urgent appointments. The supply chain was further disrupted by the COVID-19 epidemic, which led to a lack of the raw materials needed for the manufacturing of the devices.
|
ATTRIBUTE |
DETAILS |
|
Study Period |
2018-2032 |
|
Base Year |
2022 |
|
Forecast Period |
2022-2032 |
|
Historical Period |
2019-2021 |
|
Growth Rate |
CAGR of 6.8% from 2022-2032 |
|
Unit |
Value (USD Billion) |
|
Segmentation |
Main Segments List |
|
Product |
|
|
Application |
|
|
End Use |
|
|
By Region |
|
Select License Type
Select License Type
FATPOS CLIENT Appriciation DURING THE PROJECT
Working with Fatpos Global, allowed us to take advantage of their knowledge and easy approach, allowing us to collect important data utilizing a variety of techniques. The results were clearly presented and explained, and FG responded to our questions with speed and expertise.
|
Swiss-based global building materials manufacturer |
The analyses and presentations Fatpos Global have produced for us have been of a very high caliber and have allowed us to proactively improve our customer relationship management. They have also done so while maintaining complete anonymity. Without any doubt, we suggest Fatpos Global to you.
|
|
Tech-powered construction company |
We appreciate the team’s punctuality, flexibility in terms of report modification, post report purchase support and pleasant reaction all around. Overall, my experience with this company was nothing but positive, and I couldn't be more grateful for their excellent service. Thank you for all that you do!
|
|
American global management consulting firm |
We are able to concentrate on the topics and implications that are most important to our clients thanks to the adaptability and responsiveness of the team at Fatpos Global. We would highly recommend this company to anyone in need of their services, and I will certainly be using them again in the future.
|
|
Headquartered in Zug, Switzerland, leading supplier of medical and surgical instrument |
To better study our client demographics, develop the ideal product-price architecture, and enhance our target marketing initiatives, we hired Fatpos Global. Every component of the project was completed, and we are very happy with the useful insights and actionable results.
|
|
Kosovan company, A leading organic fertilizers producer |
Thank you for your team's generous assistance, The final report was delivered to me, and I find it to be really helpful. Also, you may be sure that I will get in touch with you if I ever require fresh materials for market research. Gratitude once more.
|
|
German specialty chemicals company based in Cologne, Germany |
