Vitreoretinal Surgery Devices Market Research Report - Forecast to 2029 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Vitreoretinal Surgery Devices Market

Industry / Sector Trends

Vitreoretinal Surgery Devices Market size was valued at USD 1.5 billion in 2018 and is expected to witness more than 3% CAGR from 2019 to 2025.

U.S. vitreoretinal surgery devices market, by product, 2018 & 2025 (USD Million)

Vitreoretinal surgery devices market will witness a considerable growth in the coming years. Growing number of eye-related disorders in geriatric population coupled with availability of technologically advanced micro invasive vitreoretinal surgeries are some of the factor that will boost the market growth in upcoming years. In addition, increasing number of eye health awareness programs has helped in creating awareness regarding various ophthalmic devices such as vitreoretinal packs, vitrectomy probes, vitreoretinal illumination devices, etc., thereby fuelling the market growth.

Increasing prevalence of retinal detachment and diabetic retinopathy disorder in the global population increases the adoption of vitreoretinal devices, thereby augmenting the market growth. As per the American Diabetic Association report, approximately 93 million people suffered from diabetic retinopathy disorder in 2017. All the aforementioned factors will eventually boost the market growth.

Market Segmentation, Outlook & Regional Insights: Vitreoretinal Surgery Devices Market

Vitreoretinal Surgery Devices Market, By Product

Germany vitreoretinal surgery devices market share, by product, 2018

Vitreoretinal packs held significant share of the total market, accounting for a total value of USD 537.4 million in 2018. Vitreoretinal packs segment will show significant segmental growth owing to rise in number of geriatric populations along with increasing number of vitreoretinal surgeries. As per the World Population Aging Statistics, the population aged 60 years or over was 962 million in 2017 and is expected to double by 2050 across the globe.

Vitrectomy probes are estimated to expand at a CAGR of 3.38% over the forecast period owing to increasing number of vitreoretinal surgical procedures worldwide. In addition, technologically advanced vitrectomy probes including ULTRAVIT 10k probe has a bevelled tip and delivers 10,000 cuts per minute via dual pneumatic drive technology that will increase the adoption rate and demand of such devices, thereby stimulating the segmental growth.

Vitreoretinal Surgery Devices Market, By End-use

Hospitals segment generated maximum revenue share in the year 2018. Factors such as increased application of vitreoretinal surgery devices for the treatment of vision-related disorders  including retinal detachment, macular hole, epiretinal membrane and complications related to diabetic retinopathy along with rising hospital admissions will augment the growth of hospitals in the market.

Specialty clinics segment is expected to experience robust growth of over 3.4% over the projection period. Growing demand for vitreoretinal surgical procedures due to increase in number of patients suffering from diabetic retinopathy, retinal detachment, etc. will ultimately result in increasing number of ophthalmologists thereby, boosting the sales and demand for vitreoretinal devices in the specialty clinics business segment.

Vitreoretinal Surgery Devices Market, By Region

North America vitreoretinal surgery devices market share, by country, 2025 (USD Million)

U.S. market valued USD 569.5 million in the year 2018. Increasing incidence of various eye-related disorders in the U.S. will propel the market growth. According to the American Academy of Ophthalmology, more than 40 million people in the U.S. suffer from several eye disorders such as cataract, glaucoma, age-related macular degeneration, diabetic retinopathy and dry eye.

India is estimated to exhibit the fastest growth of 4.3% during the forecast period due to growing target patient population and increased awareness regarding the benefits associated with vitreoretinal surgeries. Increase in the number of eye disorders and growing government initiatives including Vision 2020 in the country will boost the industry growth in coming years.

Key Players, Recent Developments & Sector Viewpoints: Vitreoretinal Surgery Devices Market

Few of the notable industry players operating in global vitreoretinal surgery devices market are Alcon, Inc., Bausch & Lomb, Inc., OCULUS OptikgerAte GmbH, MedOne Surgical, Inc., Carl Zeiss Meditec AG, Designs for Vision, Inc., Peregrine Surgical, and D.O.R.C. Dutch Ophthalmic Research Center (International) B.V. Various strategies such as mergers and acquisitions, collaborations and new product launches are undertaken by these players in order to capture high revenues. For instance, in November 2018, Alcon introduced Hypervit, that features a dual blade design, hence allowing 20,000 counts per minute. Such technologically advanced products will enable the company to expand its product portfolio and spur revenue generation.

Vitreoretinal Surgery Devices Industry Viewpoint

The history of vitrectomy involves the interrelated development of a vast array of techniques and evolution of technique-driven technology. However, current technology has provided various potential benefits to the patient population as well as surgeons. It includes decreased conjunctival scarring, more efficient surgery, decreased postoperative inflammation leading to less pain and maximum patient comfort, decreased astigmatic changes, and quicker visual recovery. The market  for vitreoretinal surgery devices will expand swiftly in the coming years due to introduction of smaller and technologically advanced instruments that provide superior fluidics and minimize surgical trauma. Such systems will be more widely accepted and further reduce the need for suturing; decrease surgical trauma, improve postop recovery, and lead to faster visual recovery.

Key Insights Covered: Exhaustive Vitreoretinal Surgery Devices Market

1. Market size (sales, revenue and growth rate) of Vitreoretinal Surgery Devices industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Vitreoretinal Surgery Devices industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Vitreoretinal Surgery Devices industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Vitreoretinal Surgery Devices industry.

Research Methodology: Vitreoretinal Surgery Devices Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.