Vitrectomy Devices Market 2030 With Expected to grow CAGR 7.2%

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The global vitrectomy devices market size is expected to be worth around US$ 5.7 billion by 2030, according to a new report by Vision Research Reports.

The global vitrectomy devices market size was valued at US$ 2,036.9 million in 2020 and is anticipated to grow at a CAGR of 7.2% during forecast period 2021 to 2030.

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Vitrectomy Devices Market (By Product: Vitrectomy machines, Vitrectomy packs, Photocoagulation lasers, Illumination devices; By Application: Diabetic retinopathy, Retinal detachment, Macular hole, Vitreous hemorrhage; By End-use: Hospitals, Ophthalmic clinics, Ambulatory surgical centers) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

Report Coverage

Report Scope Details
Market Size US$ 5.7 Bn by 2030
Growth Rate CAGR of 7.2% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Product, application, end use
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned Alcon Inc.; Bausch & Lomb Incorporated; BVI; NIDEK CO., LTD.; Johnson & Johnson Vision Care, Inc.; Blink Medical; Topcon Corporation; Hoya Surgical Optics; Carl Zeiss Meditec AG

Growth Factors

The growing prevalence of diabetes is expected to drive the probability of diabetic retinopathy, thus, contributing to market growth. Additionally, the growing demand for vitrectomy due to its associated advantages for providing support to other ophthalmic surgeries is also expected to boost the market growth.

Ophthalmic diseases are seen prevalent in the elderly population. The growing geriatric population is expected to drive the market and the need for vitrectomy devices. As per the National Institute on Aging (NIA), the elderly population is expected to reach 72.0 million people by 2030, which may drive the prevalence of ophthalmic disorders. In addition to this, an increasing number of hospital admissions for retinal surgeries such as vitrectomy is expected to drive market growth. Moreover, hospitals have also installed vitrectomy devices to enhance vitreoretinal surgery procedures.

By Product Analysis

The vitrectomy machines segment dominated the market and held the largest revenue share of 37.8% in 2020. The growth of the segment can be attributed to the development of new generation machines with advanced features such as improvised fluidics, high cut rates, small gauge size, and intraocular pressure control.

The vitrectomy packs segment is expected to grow at the fastest rate during the forecast period. This can be attributed to the increased adoption of these packs in a wide range of indications such as removal of vitreous from retina, removal of epiretinal membrane, collective procedures for retinal surgery, and detachment of posterior vitreous.

The photocoagulation lasers segment also held a significant revenue share in the market for vitrectomy devices in 2020. Laser photocoagulation surgery helps in shrinking or destroying abnormal retina structures and hence is widely adopted for correcting retina-related conditions such as diabetic retinopathy.

By Application Analysis

The macular hole segment dominated the market and held the largest revenue share of 26.2% in 2020. The segment is expected to grow at a significant rate. A macular hole is a small breakage in the macula, located in the center of the retina.

The retinal detachment segment is expected to experience the fastest growth during the forecast period. Retinal detachment is majorly seen in patients with high myopia. The growing prevalence of high myopia is expected to contribute towards the segment growth.

The diabetic retinopathy segment is expected to grow at a significant rate during the forecast period. According to the American Academy of Ophthalmology, in 2020, worldwide around 35.6% (93 million people) of diabetic adults aged 40 suffer from diabetic retinopathy.

By End-use Analysis

The hospital segment dominated the market and held the largest revenue share of around 42.0% in 2020, owing to the growing adoption of vitrectomy surgeries in these settings. A large number of hospitals are offering ophthalmic care including vitrectomy, which, in turn, is expected to boost the installation of vitrectomy devices in them.

The Ambulatory surgical centers (ASCs) segment is anticipated to grow at the fastest rate during the forecast period. The growing number of ASCs in developing countries is expected to contribute to the growth of the market. Additionally,

By Regional Analysis

North America dominated the market and accounted for the largest revenue share of 36.9% in 2020. The growing prevalence of ophthalmic disorders such as diabetic retinopathy, macular hole, retinal detachment, etc. is expected to contribute towards the growth of the market in the region.

In Asia Pacific, the market is expected to grow at the fastest rate of 6.4% during the forecast period. The presence of a large patient pool in the region seeking ophthalmic care is expected to drive the adoption of vitrectomy devices.

 In Europe, the vitrectomy devices market and is expected to grow at a considerable rate. This can be attributed to the high prevalence of eye diseases, growing demand for technologically advanced products, and increase in R&D investments for the development of new products.

Key Players

  • Alcon Inc.
  • Bausch & Lomb Incorporated
  • BVI
  • NIDEK CO., LTD.
  • Johnson & Johnson Vision Care, Inc.
  • Blink Medical
  • Topcon Corporation
  • Carl Zeiss Meditec AG
  • Hoya Surgical Optics

Market Segmentation

  • By Product
    • Vitrectomy machines
    • Vitrectomy packs
    • Photocoagulation lasers
    • Illumination devices
  • By Application
    • Diabetic retinopathy
    • Retinal detachment
    • Macular hole
    • Vitreous hemorrhage
    • Others
  • By End-use
    • Hospitals
    • Ophthalmic clinics
    • Ambulatory surgical centers
  • Regional
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Italy
      • Spain
    • Asia Pacific
      • Japan
      • China
      • India
      • Thailand
      • South Korea
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
    • Middle East and Africa
      • South Africa
      • Saudi Arabia
      • UAE

Browse complete table of contents at@ https://www.visionresearchreports.com/vitrectomy-devices-market/toc/38802

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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