USD 2.07 billion
Vitreoretinal Surgery Devices Market Size, Share, Growth Analysis, By Product(Solar Photocoagulation Lasers, Illumination Devices, Vitreoretinal Packs, Vitrectomy Machines), By End user(Hospitals, Specialty Clinics, Ambulatory Surgery Centers, and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2429 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
67
|Figures:
66
Vitreoretinal Surgery Devices Market Insights
Vitreoretinal Surgery Devices Market size was valued at USD 2.19 billion in 2022 and is poised to grow from USD 2.31 billion in 2023 to USD 3.65 billion by 2031, growing at a CAGR of 5.84% in the forecast period (2024-2031).
The global vitreoretinal surgery devices market is a dynamic and evolving sector within the broader medical device industry. It encompasses a range of advanced surgical instruments and equipment used for the treatment of various retinal disorders and conditions. The rising prevalence of eye disorders, such as diabetic retinopathy, macular degeneration, and retinal detachment, has fueled the demand for effective and innovative vitreoretinal surgery devices. Key drivers of the market include advancements in surgical techniques, increasing geriatric population, and a growing awareness of eye health. Technological innovations, such as microincisional vitrectomy systems, 3D visualization systems, and endoscopic devices, have revolutionized vitreoretinal surgery, enabling minimally invasive procedures with enhanced precision and improved patient outcomes. The market is characterized by the presence of established players as well as emerging companies striving to introduce novel and more efficient devices. Major players often focus on research and development to launch cutting-edge products, collaborate with healthcare professionals, and expand their global footprint through strategic partnerships and acquisitions. The market is experiencing steady growth driven by technological innovations, an aging population, and an increasing prevalence of retinal disorders. While challenges exist, the market's trajectory remains positive as manufacturers strive to address unmet medical needs, improve surgical outcomes, and contribute to the overall advancement of eye care.
US Vitreoretinal Surgery Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hospitals
Fastest Growth
Hospitals
Growth Rate
5.84% CAGR
Global Vitreoretinal Surgery Devices Market ($ Bn)
Country Share for North America Region (%)
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Vitreoretinal Surgery Devices Market Segmental Analysis
The global vitreoretinal surgery devices market is segmented on the basis of Product, End user and region. By Product, the market is segmented into Solar Photocoagulation Lasers, Vitreoretinal Packs, Illumination Devices, Vitrectomy Machines, Vitrectomy Probes, Others. By End user, the market is segmented into Hospitals, Specialty Clinics, Ambulatory Surgery Centers, Others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Vitreoretinal Surgery Devices Market Analysis By Product
In the global vitreoretinal surgery devices market, the dominant segment is likely to be Vitrectomy Machines. These machines are crucial tools for performing vitreoretinal surgeries, enabling precise and controlled removal of the vitreous gel from the eye. They offer advanced features such as adjustable cut rates, vacuum control, and ergonomic designs, enhancing surgical efficiency and outcomes.
On the other hand, the fastest-growing segment is expected to be Solar Photocoagulation Lasers. These lasers are essential for treating various retinal conditions, such as diabetic retinopathy and retinal tears. The rising prevalence of these eye disorders, coupled with the increasing adoption of minimally invasive treatment options like photocoagulation, is driving the demand for solar photocoagulation lasers. These lasers offer targeted and less invasive treatment, contributing to their rapid growth in the vitreoretinal surgery devices market.
Vitreoretinal Surgery Devices Market Analysis By End user
In the global vitreoretinal surgery devices market, hospitals are the dominant end-user segment. Hospitals hold a significant share due to their comprehensive healthcare services and the availability of specialized ophthalmology departments that cater to complex vitreoretinal surgeries. These facilities often have the necessary infrastructure and skilled medical professionals to perform intricate procedures, attracting a substantial patient volume.
On the other hand, the fastest growing segment is ambulatory surgery centers (ASCs). ASCs provide a more focused and efficient environment for vitreoretinal surgeries, offering quicker turnaround times and reduced patient waiting periods compared to hospitals. The trend towards minimally invasive procedures aligns well with the capabilities of ASCs, as patients seek less invasive options with shorter recovery periods. The convenience and specialized care provided by ASCs are driving their rapid growth in the vitreoretinal surgery devices market.
Global Vitreoretinal Surgery Devices Market By End user
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Vitreoretinal Surgery Devices Market Regional Insights
The global vitreoretinal surgery devices market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America stands out as a dominant region. The advanced healthcare infrastructure, high adoption of cutting-edge medical technologies, and a rising geriatric population contribute to this dominance. The region's well-established healthcare facilities and skilled medical professionals drive the demand for vitreoretinal surgery devices. Additionally, the presence of key market players and ongoing research activities further solidify North America's position as a dominant segment in the market.
On the other hand, Asia-Pacific is witnessing the fastest growth in the vitreoretinal surgery devices market. Rapid urbanization, increasing healthcare expenditure, and a growing awareness of eye health are propelling the demand for these devices. Emerging economies like India and China are experiencing a surge in eye disorders due to factors such as lifestyle changes and an aging population. As healthcare infrastructure improves and disposable income rises, the demand for vitreoretinal surgery devices is expected to expand significantly in the Asia-Pacific region, making it the fastest growing segment in the market.
Global Vitreoretinal Surgery Devices Market By Geography
- Largest
- Fastest
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Vitreoretinal Surgery Devices Market Dynamics
Vitreoretinal Surgery Devices Market Drivers
Growing Aging Population:
- The global increase in the aging population is contributing to the rising incidence of age-related eye conditions such as macular degeneration and diabetic retinopathy, necessitating vitreoretinal surgeries. This demographic trend is fueling demand for vitreoretinal surgery devices as these procedures become more essential for maintaining visual health among elderly individuals.
Technological Advancements:
- Continuous advancements in vitreoretinal surgery devices, including improved visualization systems, microsurgical instruments, and minimally invasive techniques, are enhancing surgical outcomes and reducing complications. Surgeons are increasingly adopting these advanced tools to perform complex procedures with greater precision, leading to increased adoption and market growth.
Vitreoretinal Surgery Devices Market Restraints
High Costs:
- Vitreoretinal surgery devices and associated procedures can involve significant costs, including equipment, consumables, and skilled medical personnel. High costs may limit access to these treatments, particularly in regions with constrained healthcare budgets, thus impeding market expansion.
Limited Skilled Workforce:
- Performing vitreoretinal surgeries requires specialized training and skills. The shortage of skilled vitreoretinal surgeons and ophthalmic technicians capable of effectively utilizing these devices could hinder the widespread adoption of these technologies and devices, particularly in underserved areas, restraining market growth.
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Vitreoretinal Surgery Devices Market Competitive Landscape
The global vitreoretinal surgery devices market features a competitive landscape marked by technological innovations, R&D investments, and strategic collaborations. Companies are focusing on developing advanced surgical tools, visualization systems, and equipment to enhance surgical precision and patient outcomes. Additionally, market players are keen on expanding their product portfolios and reaching untapped markets through strategic partnerships and distribution agreements. The evolving landscape reflects a strong emphasis on delivering cutting-edge solutions to meet the increasing demand for effective vitreoretinal surgical procedures, driven by rising cases of retinal disorders and eye-related conditions.
Vitreoretinal Surgery Devices Market Top Player’s Company Profile
- Alcon Inc. (Switzerland)
- Bausch & Lomb Incorporated (Canada)
- BVI (US)
- NIDEK CO., LTD. (Japan)
- Johnson & Johnson Vision Care, Inc. (US)
- Blink Medical (UK)
- Topcon Corporation (Japan)
- Carl Zeiss Meditec AG (Germany)
- Hoya Surgical Optics (Singapore)
- HAAG-STREIT GROUP (Switzerland)
- MedOne Surgical, Inc (US)
Vitreoretinal Surgery Devices Market Recent Developments
- In March 2022, Carl Zeiss Meditec received 510(k) premarket approval from the United States Food and Drug Administration (FDA) for their QUATERA 700 device, which is indicated for the emulsification and removal of cataracts and anterior segment vitrectomy.
- In May 2022, Alcon announced the launch of their Constellation Vision System, which is a new generation of vitreoretinal surgery platform that offers a variety of technological advances, such as improved visualization and more precise instrumentation.
- In June 2022, Ellex Medical Lasers announced the launch of their EYESYS 23G Vitrectomy System, which is a new minimally invasive vitreoretinal surgery system that is designed to provide surgeons with a more precise and efficient way to perform vitreoretinal surgery procedures.
Vitreoretinal Surgery Devices Key Market Trends
Technological Advancements and Innovation:
- The market is experiencing a surge in technological advancements and innovative developments in vitreoretinal surgery devices. Cutting-edge technologies such as robotic-assisted surgery, advanced visualization systems, and minimally invasive surgical techniques are enhancing precision, efficiency, and patient outcomes. These innovations are attracting both surgeons and patients, driving the adoption of state-of-the-art devices that offer improved safety and efficacy.
Rise in Age-related Eye Disorders:
- The increasing prevalence of age-related eye disorders, such as macular degeneration and diabetic retinopathy, is driving the demand for vitreoretinal surgery devices. As the global population ages, the incidence of these conditions is growing, leading to a higher number of vitreoretinal surgeries. This trend is compelling manufacturers to develop specialized devices that cater to specific treatment needs, contributing to the expansion of the vitreoretinal surgery devices market.
Vitreoretinal Surgery Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global vitreoretinal surgery devices market analysis, the market is witnessing robust growth due to the increasing prevalence of retinal disorders and advancements in surgical techniques. These devices play a crucial role in treating conditions like retinal detachment, macular degeneration, and diabetic retinopathy. Technological innovations, such as minimally invasive procedures and improved visualization tools, are driving market expansion. Rising aging populations and the demand for better visual outcomes contribute to the market's trajectory. However, cost considerations, limited access in developing regions, and potential complications pose challenges. Overall, the vitreoretinal surgery devices market is anticipated to thrive, aided by evolving medical technologies and the growing demand for effective treatments of complex retinal conditions.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 2.19 billion |
| Market size value in 2031 | USD 3.65 billion |
| Growth Rate | 5.84% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Vitreoretinal Surgery Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Vitreoretinal Surgery Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Vitreoretinal Surgery Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Vitreoretinal Surgery Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Vitreoretinal Surgery Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Vitreoretinal Surgery Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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