Vitreoretinal eye surgery refers to a group of procedures performed deep inside the eye's interior with lasers or conventional surgical instruments. Patients undergo this surgery in order to restore, preserve and enhance vision for several eye conditions such as certain types of Age-Related Macular Degeneration (AMD), diabetic vitreous hemorrhage, diabetic retinopathy, macular hole, a detached retina, epiretinal membrane and CMV retinitis. A vitrectomy procedure removes the vitreous humor or gel-like substance in the eye. This approach can address vision problems caused when foreign matter invades the interior of eye. According to a recent study at the University of Wisconsin School of Medicine and Public Health and the U.S. Centers for Disease Control and Prevention (CDC), approximately 6.5% of Americans age 40 and older have some degree of macular degeneration. Other research suggests there were 9.1 million cases of early AMD in the U.S. in 2010 and this number is expected to increase to 17.8 million by the year 2050. Global Vitreoretinal Surgery Devices market is influenced by some of the major factors such as Increase in prevalence of eye related disorders, accelerating geriatric population, and rising awareness regarding eye health. Moreover, increasing medical tourism and developing economies will act as a great opportunity for Global Vitreoretinal Surgery Devices manufacturers. However, complex & expensive surgeries and lack of supporting infrastructure to counter post-operative complexities will limit the market growth.
Number of People Aged 60+ Years by Region 2017 & 2050 (in Millions)
Insights Presented in the Report
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Analyzing historical market, estimation of the current market and forecasting the future market for the global vitreoretinal surgery devices market will be based on the three major steps undertaken to create and analyze the adoption trend of the global vitreoretinal surgery devices market across various industry verticals in the different region around the globe. Exhaustive secondary research would also be conducted to collect the historical market numbers to estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions would be taken into consideration. Moreover, exhaustive primary interviews would also be conducted with industry experts across the value chain of the Global Vitreoretinal Surgery Devices market. Post assumption and validation of market numbers through primary interviews, the bottom-up approach will be employed to forecast the complete market size of the Global Vitreoretinal Surgery Devices market. Thereafter, market breakdown and data triangulation methods would be adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study would be conducted to obtain the historical market size of the Global Vitreoretinal Surgery Devices market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Global Vitreoretinal Surgery Devices market, a detailed secondary analysis would be conducted to gather historical market insights and share for different segments & sub-segments for major regions across the world. Major segments included in the report as product, application and end user of the vitreoretinal surgery devices. Further analysis would also be done for different countries to analyze the overall adoption of the vitreoretinal surgery devices in that particular country.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, detailed factor analysis was conducted to estimate the current market size of the global vitreoretinal surgery devices market. Factor analysis would be conducted using dependent and independent variables such as Increase in prevalence of eye related disorders, accelerating geriatric population, and rising awareness regarding eye health. The demand and supply-side scenario would also be thoroughly studied by considering top partnerships, merger and acquisition, business expansion, product launches and analyzing the list of start-ups in the Global Vitreoretinal Surgery Devices across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we would arrive at the current market size, key players in the global vitreoretinal surgery devices market and market shares of these players. All the required percentage shares split, and market breakdowns would be determined using the above-mentioned secondary approach and will be verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weight would be assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. Bottom-up approach would be applied to arrive at the market forecast pertaining to 2026 for different segments and sub-segments across the different regions of the world. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews would be conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings will then be summarized, and statistical analysis would be performed to prove the stated hypothesis. Inputs from primary research would be consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique would be employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment pertaining to the vitreoretinal surgery devices market globally. Data will split into several segments & sub-segments post studying various parameters and trends in the areas of product, application and end user of the vitreoretinal surgery devices market.
Main objective of the Global Vitreoretinal Surgery Devices Market Study
The current & future market trends of the global vitreoretinal surgery devices would be pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include: