Vitrectomy Devices Market

Vitrectomy Devices Market Research, 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.

Market Highlights

Vitrectomy Devices Market is expected to project a CAGR of 6.8% during the forecast period, 2022-2032

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 increase. These factors are expected to boost the growth of Vitrectomy Devices Market over the forecast period.

Vitrectomy Devices Market Segmentation

Vitrectomy Packs segment is expected to dominate in 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. However, 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.

Macular Hole segment is expected to dominate in the forecast period

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 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 center 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.

Market Dynamics                                           

Growth Drivers

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 fueled the market growth. Other factors 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.

Restraint

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.

Recent Developments

• Peregrine Surgical LLC was purchased by the (DORC) Dutch Ophthalmic Research Center in October 2022 for secret amount. With the finest quality goods and services for ophthalmic specialists and their patients, DORC will be able to offer a wider range of surgical tools due to this strategic acquisition.
• EVA EquiPhaco angled needles were introduced by DORC in June 2021; Their design offered greater chamber stability and ultrasonic efficiency. The angled tip's 15° inclination and short distal end maximize reach and mobility to lessen wound stress. For the EVA Phaco-Vitrectomy system, the full assortment of EquiPhaco tips was utilized.

Key Players Covered:

• Alcon Inc.
• Bausch & Lomb Incorporated
• Topcon Corporation
• Johnson & Johnson Vision Care Inc.
• Carl Zeiss Meditec AG
• Haag-Streit Group
• BVI Medical
• NIDEK CO. LTD
• DORC Holding BV
• Hoya Surgical Optics
• Toshbro Medicals
• Iridex Corporation
• OphthalmologyWeb
• GEUDER AG
• Durr Technik
• Other Prominent Players ( Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis )

Regional Analysis

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.

Impact of Covid-19 on Vitrectomy Devices Market

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.

Vitrectomy Devices Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Vitrectomy Devices Market Scope and Segments: