Vitrectomy Devices Market Growth & Trends
The global vitrectomy devices market size is expected to reach USD 1.87 billion by 2030. The market is expected to expand at a CAGR of 5.3% from 2024 to 2030. 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.
COVID-19 is expected to negatively impact the market in 2020. This is due to the reduction in medical setting visits for ophthalmic care to avoid the spread of infection. Additionally, people with COVID have to experience ophthalmic problems like conjunctivitis, which in turn, is causing hindrance among the medical professionals to perform general ophthalmic surgeries. However, the development of government guidelines to provide constant and effective medical care including ophthalmology may boost market growth during the forecast period.
The risks associated with vitrectomy are also expected to hinder the market growth. Patient undergone vitrectomy has a high probability of generating cataract after few years, thus, negatively impacting its adoption. Additionally, the lack of professional ophthalmologists to understand the operations of advanced vitrectomy devices with multiple functionalities may also pose a threat to the market.
Vitrectomy Devices Market Report Highlights
- The vitrectomy machines held the largest revenue share in 2023 owing to the development of advanced machines with features such as small gauge size, and intraocular pressure control
- The vitrectomy packs segment is expected to grow at the fastest rate during the forecast period owing to its growing adoption for various indications
- The retinal detachment application segment is expected to grow at the fastest rate over the forecast period owing to the growing prevalence of high myopia. Patients with high myopia have a larger probability of developing retinal detachment
- The ambulatory surgical centers segment is expected to exhibit the highest growth rate during the forecast period due to its reduced costs and shorter wait time
- In Asia Pacific, the market is expected to grow at the highest rate due to the maximum cases of diabetic retinopathy in the region and the presence of a large patient pool
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- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Vitrectomy Devices Market Variables, Trends, & Scope
Chapter 4. Vitrectomy Devices Market: Product Estimates & Trend Analysis
Chapter 5. Vitrectomy Devices Market: Application Estimates & Trend Analysis
Chapter 6. Vitrectomy Devices Market: End Use Estimates & Trend Analysis
Chapter 7. Vitrectomy Devices Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
Companies Mentioned
- Alcon Inc.
- Bausch + Lomb.
- BVI
- NIDEK CO., LTD.
- Johnson & Johnson Vision Care, Inc.
- Blink Medical
- Topcon Corporation
- Carl Zeiss Meditec AG
- HOYA Medical Singapore Pte. Ltd
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | August 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 1.28 Billion |
| Forecasted Market Value ( USD | $ 1.87 Billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
