The global vitrectomy devices market size is expected to be worth around US$ 5.7 billion by 2030, according to a new report by Vision Research Reports.
The global vitrectomy devices market size was valued at US$ 2,036.9 million in 2020 and is anticipated to grow at a CAGR of 7.2% during forecast period 2021 to 2030.
|Market Size||US$ 5.7 Bn by 2030|
|Growth Rate||CAGR of 7.2% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Product, application, end use|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Alcon Inc.; Bausch & Lomb Incorporated; BVI; NIDEK CO., LTD.; Johnson & Johnson Vision Care, Inc.; Blink Medical; Topcon Corporation; Hoya Surgical Optics; Carl Zeiss Meditec AG|
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.
By Product Analysis
The vitrectomy machines segment dominated the market and held the largest revenue share of 37.8% in 2020. The growth of the segment can be attributed to the development of new generation machines with advanced features such as improvised fluidics, high cut rates, small gauge size, and intraocular pressure control.
The vitrectomy packs segment is expected to grow at the fastest rate during the forecast period. This can be attributed to the increased adoption of these packs in a wide range of indications such as removal of vitreous from retina, removal of epiretinal membrane, collective procedures for retinal surgery, and detachment of posterior vitreous.
The photocoagulation lasers segment also held a significant revenue share in the market for vitrectomy devices in 2020. Laser photocoagulation surgery helps in shrinking or destroying abnormal retina structures and hence is widely adopted for correcting retina-related conditions such as diabetic retinopathy.
By Application Analysis
The macular hole segment dominated the market and held the largest revenue share of 26.2% in 2020. The segment is expected to grow at a significant rate. A macular hole is a small breakage in the macula, located in the center of the retina.
The retinal detachment segment is expected to experience the fastest growth during the forecast period. Retinal detachment is majorly seen in patients with high myopia. The growing prevalence of high myopia is expected to contribute towards the segment growth.
The diabetic retinopathy segment is expected to grow at a significant rate during the forecast period. According to the American Academy of Ophthalmology, in 2020, worldwide around 35.6% (93 million people) of diabetic adults aged 40 suffer from diabetic retinopathy.
By End-use Analysis
The hospital segment dominated the market and held the largest revenue share of around 42.0% in 2020, owing to the growing adoption of vitrectomy surgeries in these settings. A large number of hospitals are offering ophthalmic care including vitrectomy, which, in turn, is expected to boost the installation of vitrectomy devices in them.
The Ambulatory surgical centers (ASCs) segment is anticipated to grow at the fastest rate during the forecast period. The growing number of ASCs in developing countries is expected to contribute to the growth of the market. Additionally,
By Regional Analysis
North America dominated the market and accounted for the largest revenue share of 36.9% in 2020. The growing prevalence of ophthalmic disorders such as diabetic retinopathy, macular hole, retinal detachment, etc. is expected to contribute towards the growth of the market in the region.
In Asia Pacific, the market is expected to grow at the fastest rate of 6.4% during the forecast period. The presence of a large patient pool in the region seeking ophthalmic care is expected to drive the adoption of vitrectomy devices.
In Europe, the vitrectomy devices market and is expected to grow at a considerable rate. This can be attributed to the high prevalence of eye diseases, growing demand for technologically advanced products, and increase in R&D investments for the development of new products.
Bausch & Lomb Incorporated
NIDEK CO., LTD.
Johnson & Johnson Vision Care, Inc.
Carl Zeiss Meditec AG
Hoya Surgical Optics
Ambulatory surgical centers
Middle East and Africa
The Vitrectomy Devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Vitrectomy Devices market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Vitrectomy Devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Vitrectomy Devices market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Vitrectomy Devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Vitrectomy Devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Vitrectomy Devices by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Vitrectomy Devices market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Vitrectomy Devices market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Vitrectomy Devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Vitrectomy Devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Vitrectomy Devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Vitrectomy Devices market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Vitrectomy Devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Vitrectomy Devices market. These factors have benefited the growth of the global market for Vitrectomy Devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Vitrectomy Devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Vitrectomy Devices are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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