Global Vitreoretinal Surgery Devices Market Size 2024, Forecast To 2033
6 Mar, 2024
The vitreoretinal surgery devices market has witnessed strong growth, ascending from $1.99 billion in 2023 to $2.11 billion in 2024, marking a compound annual growth rate (CAGR) of 6.0%. The growth in the historical period is credited to factors such as the increased incidence of retinal disorders, aging population, advancements in surgical techniques, a rising diabetic population, and patient preference for minimally invasive surgery. Anticipating strong growth in the next few years, the market is projected to reach $2.57 billion in 2028 at a CAGR of 5.1%. The expected expansion in the forecast period is linked to factors such as continuous growth in aging demographics, increasing burden of retinal diseases, advancements in surgical instrumentation, the growing diabetes epidemic, and expansion of healthcare infrastructure. Major trends during this forecast period include a focus on retinal imaging technologies, advancements in intraocular tamponades, innovations in laser systems, customization and patient-specific approaches, and the integration of artificial intelligence.
Global Vitreoretinal Surgery Devices Market Key Driver
The vitreoretinal surgery device market is anticipated to experience growth driven by the growing incidences of eye disorders. Eye disorders, encompassing non-neoplastic or neoplastic conditions affecting the eye, have become more prevalent. Vitreoretinal surgery devices are instrumental in treating various eye diseases such as macular degeneration, cataracts, diabetes-related retinopathy, glaucoma, and retinal detachment. According to the Centers for Disease Control and Prevention in December 2022, in the United States alone, 12 million individuals aged 40 and older would have vision impairment, with 1 million being blind, 3 million experiencing impairment after vision correction, and 8 million facing issues due to uncorrected refractive error. This surge in eye disorders underscores the vital role of vitreoretinal surgery devices in the market.
Get A Free Sample Of The Global Vitreoretinal Surgery Devices Market ReportGlobal Vitreoretinal Surgery Devices Market Segments
The vitreoretinal surgery devices market covered in this report is segmented –
1) By Product: Photocoagulation Lasers, Illumination Devices, Vitrectomy Machines, Vitrectomy Probes, Vitreoretinal Packs, Other Products
2) By Surgery: Anterior Vitreoretinal Surgery, Posterior Vitreoretinal Surgery
3) By Application: Diabetic Vitreous Hemorrhage, Retinal Detachment, Macular Hole, Other Applications
4) By End-Users: Hospitals, Specialty Clinics, Ambulatory Surgery Centers, Other End-Users
By Geography:The regions covered in the vitreoretinal surgery devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the vitreoretinal surgery devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global vitreoretinal surgery devices market report during the forecast period. The regions covered in the vitreoretinal surgery devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Vitreoretinal Surgery Devices Industry Players
Alcon Inc., Bausch & Lomb Inc., OCULUS Optikgerate GmbH, MedOne Surgical Inc., Carl Zeiss Meditec AG, Peregrine Surgical Group Pvt. Ltd., D.O.R.C. Dutch Ophthalmic Research Center B.V., Paragon Care Group Pvt. Ltd., Topcon Corporation, Geuder AG, IRIDEX Corporation, Ellex Medical Lasers, Erbe Elektromedizin, Design For Vision Inc., BVI Medical Inc., Allen Medical Systems, Abbott Laboratories, Medtronic plc, Mediland Enterprise Co., Merivaara Group, Wallach Surgical Devices Inc., Sunnex MedicaLights, Stars Medical Devices, Smith & Nephew plc, Inami & Co. Ltd., Novartis AG, Katradis Marine Ropes Ind. S.A., Tufropes Pvt. Ltd., Hoya Corporation
Get The Full Global Vitreoretinal Surgery Devices Market ReportVitreoretinal Surgery Devices Market Overview
Vitreoretinal surgery devices are specialized medical instruments that have typically incorporated a peristaltic pump, a venturi pump, or a combination of both to manage fluids. It is used for the removal of core vitrectomy, membrane cutting, and hyaloid and vitreous bases. These vitreoretinal surgical instruments feature improved flow control and less retinal traction.
Vitreoretinal Surgery Devices Global Market Report 2023 provides data on the global vitreoretinal surgery devices market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The vitreoretinal surgery devices market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.