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At 6.45% CAGR, Global Vitrectomy Devices Market Size to Hit USD 1989 Million by 2028 - Comprehensive Report by Facts & Factors

According to Facts and Factors, the Global Vitrectomy Devices Market size was valued at around USD 1037 million in 2021 and is estimated to grow about USD 1989 million by 2028, at a CAGR of approximately 6.45% between 2022 and 2028. The key players are covered in the report are Bausch & Lomb Incorporated, Johnson & Johnson Vision Care, Inc, Carl Zeiss Meditec AG, Alcon Inc. Hoya Surgical Optics, Blink Medical, and others.

/EIN News/ -- LONDON, UK, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “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” in its research database.

The report analyses the Vitrectomy Devices market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Vitrectomy Devices market.

Vitrectomy Devices Market Overview:

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.

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  • Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
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  • Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
  • Includes Tables and figures have been updated
  • The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, Revenue Analysis, SWOT Analysis, Historical and Forecast Growth, Porter's 5 Forces Analysis
  • Facts and Factors research methodology

Market Growth Drivers

  • Increasing cataract cases to propel market demand

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 have 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.

Restraints

  • Concerns over infection to restrict the market growth

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.

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

Key Insights from Primary Research

  • As per the analysis, the Vitrectomy Devices market is likely to grow above a CAGR of around 6.45% over the forecast period (2022-2028).
  • The Vitrectomy Devices market size was worth around US$ 1037 Million in 2021 and is estimated to hit approximately US$ 1989 Million by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
  • Due to a variety of driving factors, the market is predicted to rise at a significant rate
  • Based on application segmentation, the macular hole was predicted to show maximum market share in the year 2021
  • Based on end-user segmentation, ophthalmic clinics were the leading end-users in 2021.
  • On the basis of region, North America was the leading revenue generator in 2021.

Vitrectomy Devices Market: Segmentation Analysis

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.

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Regional Analysis:

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 populations were living with diabetes.

Report Scope:

Report Attribute Details
Market Size in 2021 USD 1037 Million
Projected Market Size in 2028 USD 1989 Million
CAGR Growth Rate 6.45% CAGR
Base Year 2021
Forecast Years 2022-2028
Key Market Players Bausch & Lomb Incorporated, Johnson & Johnson Vision Care Inc, Carl Zeiss Meditec AG, Alcon Inc. Hoya Surgical Optics, Blink Medical., and others.
Key Segment By Application, Product, End-User, and Region
Major Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
Purchase Options Request customized purchase options to meet your research needs.

Competitive Players

The report contains qualitative and quantitative research on the global Vitrectomy Devices Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.

Some of the main players in the global Vitrectomy Devices market include:

  • Bausch & Lomb Incorporated 
  • Johnson & Johnson Vision Care Inc 
  • Carl Zeiss Meditec AG 
  • Alcon Inc. Hoya Surgical Optics 
  • Blink Medical.

Recent Industry Developments:

  • In August 2021, Alcon acquired Ivantis, the company responsible for the creation of a novel HydrusMicrostent 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

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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
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Southeast Asia
    • Rest of Southeast Asia
  • The Middle East & Africa
    • GCC
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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