Vitreoretinal Surgery Devices Market is Segmented By Product (Illumination Devices,Vitreoretinal Packs, Vitrectomy Machines, Vitrectomy Probes, Others,), By Surgery Type (Anterior Vitreoretinal Surgery, Posterior Vitreoretinal Surgery), By End-User (Hospital, Eye Institutes, Ambulatory Surgery Centers, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030.
Vitreoretinal surgery devices market size was valued by 2030, growing at a CAGR of 5.99% during the forecast period (2023-2030). Vitreoretinal surgery treats eye disorders involving the retina, macula, and vitreous fluid. Macular degeneration, retinal detachment, uveitis and vitreous hemorrhage, macular hole, epiretinal membrane, retinal detachment, and diabetic retinopathy complications are among them. The various instruments, tools, and surgical equipment designed to aid surgeons in the execution of the surgery fall under the category of medical devices known as vitreoretinal surgery devices.
Vitreoretinal Surgery Devices Market
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Metrics |
Details |
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Market CAGR |
5.99% |
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Segments Covered |
By Product, By Surgery Type, By End-User, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
Vitreoretinal Surgery Devices Market Dynamics
The rising frequency of eye disorders such as macular degeneration, retinal detachment, uveitis and vitreous hemorrhage, macular hole, epiretinal membrane, retinal detachment, and diabetic retinopathy complications is a major factor driving market growth. Furthermore, the growing geriatric population, more prone to eye disorders, is driving the market growth. Technological advancements in the field and the increased availability of automated and simple-to-use devices drive market growth.
Technological advancements in the field of vitreoretinal surgery devices will drive the market growth
Over the last years, there have been several significant changes in the technologies in the operating room for vitreoretinal surgery devices. Although these innovations come from different technology areas, they all aim to improve surgeons' performance and outcomes. New surgical microscope models and smaller, more efficient vitrectomy devices are examples of such innovations. In the future, robotics will be present in the operating room sooner than expected, allowing the surgeon to perform delicate tasks without injuring adjacent tissues. For instance, The hypersonic probe developed for the Stellaris Elite (Bausch + Lomb) system is available for the company's 23-ga. The system is the most recent technology in the field of vitrectomy cutters. This probe liquifies adjacent vitreous during a vitrectomy by using hypersonic vibrations at approximately 1.7 million per minute. The aspiration port is always open with this technology, allowing constant aspiration flow and, as a result, greater stability in vitreous removal, even in severe cases such as pediatric vitrectomies.
Scientific data and trends in vitreoretinal surgery go hand in hand. The interaction of technology and techniques can either start a trend or disclose a new solution to a long-standing problem. New visualization techniques, for example, could allow us to chronicle surgery in a different way, improving our ability to critically evaluate each new technological trend as it moves through the pipeline. Surgeons will be able to make the best decisions about which new technology to use for their procedures based on scientific information in this way.
Furthermore,the rapidly aging population is expected to propel the industry forward in the coming years. According to WHO data, the geriatric population is expected to double between 2015 and 2050. The elderly population over the age of 60 is expected to triple between 2010 and 2050, reaching approximately 1.3 billion people. Furthermore, the United Nations Population Fund (UNFPA) predicts that by 2050, approximately 25% of people in the Asia Pacific region will be over the age of 60. As vision and the ability to focus deteriorate with age, eye-related disorders become more common among the elderly.
The growing elderly population suffering from vision-related conditions is expected to demand vitreoretinal surgery devices. Among the most common causes of vision impairment in the elderly are age-related macular degeneration, glaucoma, cataracts, and diabetic retinopathy. The prevalence of these disorders is commonly high in people aged 60 and up, owing to increased susceptibility and impaired vision.
Another important factor driving the use of vitreoretinal surgery equipment is the rise in diabetes prevalence, which leads to diabetic retinopathy in middle-income and emerging economies. According to the American Diabetic Association, 97 million people in the United States had diabetic retinopathy in 2017. Furthermore, increased government initiatives and awareness campaigns about using various ophthalmic devices such as vitreoretinal packs, vitrectomy probes, and other ophthalmic devices would soon benefit the expansion of the vitreoretinal surgical devices market. These factors, as mentioned above, have a significant impact on the overall health vitreoretinal surgery device market.
Uncertainy in reimbursement scenario and high cost of vitreoretinal surgery devices are likely to hamper the market growth
The uncertain reimbursement scenario and high cost of vitreoretinal surgery devices may harm market progression. The cost of purchasing vitreoretinal surgery devices can range between USD 5,000 and $15,000. The high cost of vitreoretinal surgery devices may limit acceptance, limiting industry expansion due to the high cost of vitreoretinal surgeries. Despite this reimbursement for procedures, reimbursement for vitreoretinal surgery devices is somewhat uncertain, limiting industry demand.
Vitreoretinal Surgery Devices Market COVID-19 Impact Analysis
The COVID-19 pandemic has emerged as an unprecedented health concern, significantly impacting the market value of vitreoretinal surgery devices. The coronavirus outbreak has impacted the global economy and several industrial structures, including the healthcare sector. To reduce the spread of the SARS-CoV-2 virus, several countries imposed national lockdowns and declared emergencies. Hospital admissions and services were prioritized for COVID-19 patients, with most other medical procedures halted. The United States declared a national emergency and delayed most non-emergency surgical procedures in both outpatient and inpatient settings. As a result, multiple medical procedures, including vitreoretinal surgeries, have been delayed in various countries, affecting the market.
Vitreoretinal Surgery Devices Market Segment Analysis
The posterior vitreoretinal surgery segment is expected to grow at the fastest CAGR during the forecast period (2021-2028)
The increasing posterior vitreoretinal procedures are responsible for the segment's dominance. In rare cases, the vitreous gel enters the anterior chamber of the eye through the pupil, and only then are anterior vitreoretinal surgeries performed. The growing prevalence of eye disorders and the growing geriatric population are driving the segment growth.
According to the International Agency for the Prevention of Blindness, 196 million people worldwide will have age-related macular degeneration (AMD) by 2023, rising to 288 million by 2040. The most important risk factors for AMD are age, genetic factors, and tobacco use. As a result, the growing geriatric population significantly impacts segment growth.
Vitreoretinal Surgery Devices Market Geographical Analysis
North America region holds the largest market share of global vitreoretinal surgery devices market
North America is expected to dominate the global vitreoretinal surgical devices market throughout the projected period. The presence of a larger patient pool and an expanding senior population account for most of the share. Due to an expanding elderly population and a growing patient pool in the country, the United States has the greatest market share in the North American area. In 2019, roughly 11 million people in the United States suffered age-related macular degeneration, according to the Brightfocus Foundation. By 2050, this figure is predicted to nearly treble to approximately 22 million. According to statistics, the region's market growth is fueled by a huge patient pool and high disposable income.
The vitreoretinal surgery devices market has significant growth potential in South and East Asia. Rapid technological advancements in Japan, as well as fast-growing economies such as China and India, as well as an increase in the focus of manufacturers of vitreoretinal surgery devices in these regions, combined with low manufacturing costs, are among the factors facilitating the entry of new manufacturers of vitreoretinal surgery devices into these regions. These factors will provide profitable growth opportunities for regional manufacturers in the vitreoretinal surgery devices market.
Vitreoretinal Surgery Devices Market Competitive Landscape
The global market for healthcare information exchange is moderately competitive, with several major players. Dutch Ophthalmic Research Center International BV, Bausch & Lomb, Inc., OCULUS Optikgeräte GmbH, Paragon Care Group Australia Pty Ltd, and MedOne Surgical, Inc, Alcon, Peregrine Surgical, Designs for Vision Inc, Carl Zeiss Meditec AG are among the market's major players. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the vitreoretinal surgery devices market globally. For instance, in Septeber 2018, Optikon, a major player in the eye care market, launched R Evo smart, a compact piece of equipment designed to improve the quality of retinal and cataract surgeries.
Dutch Opthalmic Research Center International B.V.
Overview:
Instruments and equipment for ophthalmic surgery are manufactured and supplied by this company. The company creates, manufactures, and sells ophthalmic surgery equipment, supplies, and instruments.
Product Portfolio:
Heavy Silicone Oil Extraction Cannula 23G: Designed specifically for the removal of heavy silicone oil. Longer cannula for easier extraction of high-density liquids