What Factors Propelled The Growth Of The Vitreoretinal Surgery Devices Market In The Past?
The vitreoretinal surgery devices market has seen considerable growth due to a variety of factors.
•The market size for vitreoretinal surgery devices has seen consistent growth in the past few years. The market is projected to grow from $2.05 billion in 2024 to $2.15 billion in 2025, indicating a Compound Annual Growth Rate (CAGR) of 4.9%.
The growth in this sector during the historic period is due to factors like a rise in retinal disorders, an increase in the aging population, progress in surgical methods, a higher diabetic population, and a general preference among patients for minimally invasive surgeries.
What Is The Projected Growth And Market Size For The Vitreoretinal Surgery Devices Sector?
The vitreoretinal surgery devices market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, a noticeable increase in the size of the vitreoretinal surgery devices market is anticipated, with an expected growth to "$2.73 billion in 2029 at a compound annual growth rate (CAGR) of 6.1%.
This expansion in the projection period can be credited to the consistent growth in the elderly demographics, rising prevalence of retinal diseases, enhancements in surgical tools, escalating diabetes crisis, and enlargement of the healthcare infrastructure. Key trends projected for this period encompass the concentration on retinal imaging technologies, advancements in intraocular tamponades, breakthroughs in laser systems, personalization and patient-centric strategies, along with the incorporation of artificial intelligence.
What Factors Are Driving Growth In The Vitreoretinal Surgery Devices Market?
The anticipated surge in the cases of eye disorders is predicted to fuel the expansion of the vitreoretinal surgery device market in the future. Eye disorders, both non-neoplastic and neoplastic in nature, heavily affect the eye. The use of vitreoretinal surgery devices proves highly beneficial in treating various eye diseases including macular degeneration, cataracts, diabetic-related retinopathy, glaucoma, and retinal detachment. As revealed by the Centers for Disease Control and Prevention, a US-based federal agency, in December 2022, an estimated 12 million individuals aged 40 or older in the United States are predicted to suffer from vision impairment. Out of this group, around 1 million individuals are expected to be blind, 3 million are predicted to develop it despite proper vision correction, and around 8 million might acquire it from uncorrected refractive error. Consequently, the escalating numbers of eye disorders contribute to the growth of the vitreoretinal surgery device market.
What Are The Main Segments Of The Global Vitreoretinal Surgery Devices Market?
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
Subsegments:
1) By Photocoagulation Lasers: Argon Lasers, Diode Lasers, Solid-State Lasers
2) By Illumination Devices: Fiber Optic Illumination Devices, LED Illumination Devices, Halogen Illumination Devices
3) By Vitrectomy Machines: 20-Gauge Vitrectomy Systems, 23-Gauge Vitrectomy Systems, 25-Gauge Vitrectomy Systems
4) By Vitrectomy Probes: Single-Use Vitrectomy Probes, Multi-Use Vitrectomy Probes
5) By Vitreoretinal Packs: Single-Use Vitreoretinal Packs, Multi-Use Vitreoretinal Packs
6) By Other Products: Surgical Instruments, Fluid Management Systems, Scleral Buckles
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What Emerging Trends Are Influencing The Growth Of The Vitreoretinal Surgery Devices Market?
The emergence of product innovation is a prominent trend seen in the vitreoretinal surgery device market. Firms in this sector are creating innovative products to maintain their market standings. As an example, Sight Sciences, an ophthalmology firm from the US, in August 2022, introduced the SION Surgical Instrument, the first goniotomy device without a blade. This groundbreaking device signifies a fresh phase in goniotomy development and application with its unique bladeless concept. The SIONTM Surgical Instrument is a sterile, single-use, hand-operated device utilized in ophthalmic surgeries for the removal of trabecular meshwork.
Who Are the Key Players in the Vitreoretinal Surgery Devices Market?
Major companies operating in the vitreoretinal surgery devices market include:
• 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.
• Sunnex MedicaLights
• Stars Medical Devices
• Smith & Nephew plc
• Inami & Co. Ltd.
• Novartis AG
• Katradis Marine Ropes Ind. S.A.
• Tufropes Pvt. Ltd.
• Hoya Corporation
What Is The Most Dominant Region In The Vitreoretinal Surgery Devices Market?
North America was the largest region in the vitreoretinal surgery devices market in 2024.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
