Global Vitrectomy Devices Market Share Is Likely To Reach At A CAGR Value Of Around 6.45% By 2028

30-Sep-2022 | Facts and Factors

According to Facts and Factors, the global vitrectomy devices market size was worth around USD 1037 million in 2021 and is predicted to grow to around USD 1989 million by 2028 with a compound annual growth rate (CAGR) of roughly 6.45% between 2022 and 2028.

Vitrectomy is an eye-related medical procedure involving the treatment of the vitreous and retina. During the procedure, the document removed the vitreous, a gel-like substance between the lens and the retina of the eyeball, and replace it with another fluid. Retina refers to the layer of cells present in the back eyes that use light to transport visual information to the brain for further processing. Under normal circumstances, vitreous should be clear to perform its function of passing the light effectively. However, multiple reasons can cause the vitreous to lose its property impacting eye-sight in the long run. During the surgical procedure, medical professionals use different forms of equipment to conduct the surgery. The devices are used to cut the vitreous out followed by the suction process. Some of the equipment are forceps, scissors, needle holders, retractors & hooks, along with other miscellaneous devices like sleeve spreading forceps, irrigating contact lenses, etc. The doctors may also conduct other repair work that the eyes might need like repairing the retina hole.

Browse the full “Vitrectomy Devices Market Size, Share, Growth Analysis Report By Application (Macular Hole, Retinal Detachment, Diabetic Retinopathy, and Vitreous Hemorrhage), By Product (Photocoagulation Lasers, Vitrectomy Packs, Vitrectomy Machines, and Illumination Devices), By End-User (Ophthalmic Clinics, Ambulatory Surgery Centers, and Hospitals), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/vitrectomy-devices-market

During the pandemic, most eye-care centers remained closed especially during the first quarter of 2020. But official data indicated a positive correlation between the infection and post-vitrectomy endophthalmitis which led to an increase in the global market cap once the eye-care units were completely operational.

The global vitrectomy devices market is projected to grow owing to the increasing population of diabetic patients across the globe. Diabetes is considered one of the major reasons for loss of eyesight and if caught early it can be prevented with the help of vitrectomy surgeries. The growth of scar tissues is stimulated by the presence of abnormal blood vessels in diabetic patients resulting in the retina being pulled away from the back of the eye. This incident leads to light flashes, vision loss, or spots floating in vision. Although diabetic retinopathy is not completely reversible, medical treatments can help patients get their vision back. Diabetes is one of the medical conditions that has one of the highest prevalence rates. As per the data submitted by the International Diabetes Federation, in 2021, there were more than 537 million adults in the age group of 20 to 79 years living with diabetes while 541 million adults were claimed to be at high risk of developing type II diabetes. As per a 2019 report by the Center for Diseases Control & Prevention, amongst adults with diabetes and age group of over 45 years, around 32.2% were diagnosed with cataracts, while 4.3% of the observed population showed macular degeneration, and diabetic retinopathy was observed in around 8.6% of the surveyed group.

The concerns over infection may restrict the global market growth while more opportunities can be expected due to technological advancements along with challenges resulting from a lack of facilities in underdeveloped economies.

The global vitrectomy devices market is segmented based on product, application, end-user, and region.

Based on product, the global market divisions are photocoagulation lasers, vitrectomy packs, vitrectomy machines, and illumination devices. The global market may witness the highest CAGR in the vitrectomy machines segment that are equipped with systems like intraocular pressure, high cut rates, small gauze size, and improvised fluidics. The cost of the machine in the United Kingdom is USD 5300 and in the US it is around US 3500 to US 4000.

Based on application, the global market is segmented into macular hole, retinal detachment, diabetic retinopathy, and vitreous hemorrhage with macular hole generating the highest revenue rate in 2021. It is a hole opening in the area called the macula at the center of the retina. The condition is age-driven and can be treated with vitrectomy. It can often affect the population in the age range of 60 to 80 years.

By end-user, the global market divisions are ophthalmic clinics, ambulatory surgery centers, and hospitals, with ophthalmic clinics leading the global market revenue. As per IBISWorld, there are more than 1028 eye clinics in the US as of 2022.

North America is projected to generate the highest revenue in the global vitrectomy market owing to the high prevalence of diabetes in the American population along with increasing research and development in the medical devices field which is further propelled by the growing number of players since the country has one the world’s most competent medical infrastructure as well as reimbursement policies in place. The regional market may also be driven by the growing number of geriatric populations suffering from eye-related medical conditions. As per the US Census Bureau, there were more than 54 million people over the age of 65 years in 2021. Asia-Pacific is projected to be driven by the increasing number of diabetic patients. In 2019, around 77 million of the Indian population were living with diabetes.

Report Scope

The global vitrectomy devices market is led by players like Bausch & Lomb Incorporated, Johnson & Johnson Vision Care, Inc, Carl Zeiss Meditec AG, Alcon Inc. Hoya Surgical Optics, and Blink Medical.

Recent Developments:

• In August 2021, Alcon acquired Ivantis, the company responsible for the creation of a novel Hydrus Microstent strengthening Alcon’s portfolio
• In October 2021, Nidek Co. Ltd, announced the inauguration of NIDEK Experience Center, allowing visitors to experience the company’s latest technologies

The global vitrectomy devices market is segmented as follows:

By Application

• Macular Hole
• Retinal Detachment
• Diabetic Retinopathy
• Vitreous Hemorrhage

By Product

• Photocoagulation Lasers
• Vitrectomy Packs
• Vitrectomy Machines
• Illumination Devices

By End-User

• Ophthalmic Clinics
• Ambulatory Surgery Centers
• Hospitals

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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