Global Vitreoretinal Surgery Devices Market is projected to grow at a CAGR of 5.41% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Vitreoretinal Surgery Devices Market by Product (Vitrectomy Machines, Vitreoretinal Packs, Photocoagulation Surgery Devices, Illumination Surgery Devices, Vitrectomy Probes and Others), Surgery Type (Posterior Vitreoretinal Surgery and Anterior Vitreoretinal Surgery), Application, End-users, Region and Global Forecast 2020-2027.
The global vitreoretinal surgery devices market is expected to grow from USD 1.63 billion in 2019 to USD 2.48 billion by 2027, at a CAGR of 5.41% during the forecast period 2020-2027. North America is the dominant market in terms of market share. The reason can be attributed to the increased prevalence of eye disorder diseases in the region. Further, the availability of advanced technology and developed medical infrastructure has accelerated the growth of the market. However, Asia-Pacific is expected to register the highest growth rate during the forecast period. The developing healthcare infrastructure and rising investments in research and development activities for the development of advanced devices are attributing to market growth.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in the vitreoretinal surgery devices market are OCULUS Optikgeräte GmbH, MedOne Surgical Inc., Bausch & Lomb Inc., Peregrine Surgical, D.O.R.C. Dutch Ophthalmic Research Center (International) B.V., Designs for Vision Inc., Carl Zeiss Meditec AG, Novartis AG (Alcon), Inami Co. Ltd., Paragon Care Group Pty Ltd, Oertli Instrumente AG, Hoya Corporation, Allergan, New World Medical, Johnson and Johnson Services Inc., ZEISS International, lcon Inc., STAAR SURGICAL, Glaukos and others.
The product segment includes vitrectomy machines, vitreoretinal packs, photocoagulation surgery devices, illumination surgery devices, vitrectomy probes and others. The vitrectomy packs account for the majority of market shares. Vitrectomy surgeries are most widely used for eye-related disorders, as these are more accessible. The vitreoretinal packs are found to be effective and comfortable, especially for the geriatric population. The surgery type segment includes posterior vitreoretinal surgery and anterior vitreoretinal surgery. The anterior vitreoretinal segment holds majority of the shares. The anterior surgery is done during serious injuries, complex cornea or cataract and glaucoma surgery to enhance the visual recovery. The applications segment includes diabetic vitreous hemorrhage, macular hole, retinal detachment and others. The retinal detachment segment constitutes the majority of the market shares. The retinal detachment is a condition in which a thin layer of tissue present at the retina gets displaced from the regular position, which can cause permanent blindness. The demand for vitreoretinal surgeries for the treatment of retinal detachment has increased over the years, owing to the growing number of incidences. The end-user segment includes hospitals, ambulatory surgical centers and ophthalmology clinics. Hospitals accounted for the majority of the market shares in 2019. The increasing healthcare spending has increased the demand for the segment. Further, the availability of skilled professionals has accelerated the market growth. However, ophthalmology clinics are expected to grow lucratively during the upcoming years. The availability of specialized treatment for various eye disorders is fuelling market growth.
Vitreoretinal surgery devices are specially developed to perform a number of eye surgeries. The vitreoretinal surgeries are used for treating the various eye-related disorder with the help of different procedures. These surgeries are found to be effective in restoring and enhancement of vision in various eye conditions. The increase in eye-related disorders such as the macular hole, diabetic retinopathy, CMV retinitis, detached retina, etc. has increased the demand for vitreoretinal surgeries worldwide. Further, the supportive initiatives by the government in many regions have increased the number of players in the market.
About the report:
The global vitreoretinal surgery devices market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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