Global Vitrectomy Devices Market is expected to foresee significant growth. North America to lead the growth!
- Himanshu Patni
- November 21, 2022
- HEALTHCARE
- Vitrectomy Devices Market, Vitrectomy Devices Market Growth, Vitrectomy Devices Market Share, Vitrectomy Devices Market Size, Vitrectomy Devices Market Trends
- 0 Comments
A vitrectomy is one of the procedures used to repair a detached retina. This procedure removes portions of the vitreous. This is sometimes necessary when the vitreous, a thick, transparent substance that fills the center of the eye, blocks the surgeon’s view of the retina. The rising prevalence of ophthalmic diseases and the factors that cause them are expected to increase and drive the market for ocular surgical equipment. Furthermore, diabetes has a negative impact on eye health, and it is the cause of some of the major ocular diseases such as diabetic retinopathy is attributed to the market growth of vitrectomy devices. For instance, as per the CDC, 37.3 million people have diabetes which is 11.3% of the US population. Furthermore, the increasing number of ocular surgeries also catalyzes the growth of the vitrectomy market. Therefore, increasing demand for eye-care devices is expected to drive the global vitrectomy devices market at a CAGR of 6%, during the forecast period.
COVID-19 has slowed the growth of the Vitrectomy Device market, as countries were forced to implement lockdowns during the first half of 2020. The healthcare facilities were only treating emergency cases and postpended the inessential appointments including eye care centers. Furthermore, the COVID-19 pandemic also halted the supply chain which results in a shortage of the raw material required for the manufacturing of the devices.
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Based on the product, the market has been categorized into vitrectomy machines, photocoagulation lasers, illumination devices, and others. Amongst these, the vitrectomy machine segment is expected to witness significant growth during the forecast period. This is mainly due to advancements in technology and the integration of machines with higher cut rates, and intraocular pressure attributed to the segmental growth in the vitrectomy market.
Based on the application, the market has been categorized into diabetic retinopathy, retinal detachment, macular hole, vitreous hemorrhage, and others. Among them, the retinal detachment segment is expected to have significant growth in the market. Retinal detachment means the retina has separated from the back of the eye and retinal detachment surgery involves reattaching the retina to the back of the eye and sealing any breaks or holes in the retina. It is age-related problem, and the rising geriatric population has a significant contribution to the market growth of the segment.
Based on end-users, the market is classified into the market is segmented into hospitals, ophthalmic centers, and others. The hospitals are expected to witness lucrative growth during the forecast period. This is mainly due to the presence of skilled professionals and a well-established infrastructure. In Addition, most of eye diseases are age-related and hospitals provide them a place where the treatment of multiple diseases is available.
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For a better understanding of the market adoption of the vitrectomy devices industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America holds a lucrative market share owing to the presence of the major market player and mergers and acquisitions in the region. For instance, in August 2021, Eye Health America (EHA) is proud to announce the acquisition of Nielsen Eye Center. Nielsen Eye Center is joining Updegraff Laser Vision to expand Eye Health America’s continuum of patient care in the Tampa Bay area.
Some of the major players operating in the market include Alcon Inc., Bausch & Lomb Incorporated, BVI, NIDEK CO. LTD., Johnson & Johnson Vision Care Inc., Blink Medical, Topcon Corporation, Carl Zeiss Meditec AG, Hoya Surgical Optics, and Optos Plc.
Global Vitrectomy Devices Market Segmentation
Market Insight, by Product
- Vitrectomy machines
- Photocoagulation lasers
- Illumination devices
- Others
Market Insight, by Application
- Diabetic retinopathy
- Retinal detachment
- Macular hole
- Vitreous hemorrhage
- Others
Market Insight, by End-Users
- Hospitals
- Ophthalmic centers
- Others
Market Insight, by Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Alcon Inc.
- Bausch & Lomb Incorporated
- BVI
- NIDEK CO. LTD.
- Johnson & Johnson Vision Care Inc.
- Blink Medical
- Topcon Corporation
- Carl Zeiss Meditec AG
- Hoya Surgical Optics
- Optos Plc.
