Vitrectomy Devices Industry Overview
The global vitrectomy devices market size was valued at USD 1,036.9 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2021 to 2028.
Vitrectomy helps in clearing out the blood from vitreous humor and in preventing traction retinal detachment. This, in turn, smoothens the process of other ophthalmic surgeries and avoids further detachment of the retina during the same. Additionally, vitrectomy also helps in restoring vision loss caused due to bleeding of the vitreous humor.
The growing prevalence of retinal disease and the factors causing the disease are expected to drive the market growth during the forecast period. Diabetes has a negative impact on eye health, leading to vision loss by impacting the blood vessels of the retina. As per National Eye Institute, in 2018, around 7.7 million Americans had diabetic retinopathy. This number is expected to increase and reach 11.3 million by 2030, thus, expected to propel the market growth during the forecast period.
Gather more insights about the market drivers, restrains and growth of the Global Vitrectomy Devices Market
The outbreak of COVID-19 has negatively impacted various medical practices including ophthalmology. It has been observed that conjunctivitis develops in around 1% to 3% of people with coronavirus. Hence, to reduce the spread of the infection, ophthalmologists are being urged not to conduct ophthalmic surgeries during the pandemic except for emergency care. Various end-users in different regions are experiencing a decrease in ophthalmic surgeries such as vitrectomy. However, the government is taking initiatives and is providing guidelines to ease the adoption of medical care including ophthalmic surgeries like vitrectomy during the pandemic, thus, expected to boost the growth of the market during the forecast period.
As per the NCBI article published in July 2021, hospitals admission for Rhegmatogenous Retinal Detachment (RRD) is increasing in the U.K. since 2000. As per HES Hospital Admitted Patient Care Activity records, a large number of patients is admitted for RRD, which in turn is driving the demand for pars plana vitrectomy procedures. Therefore, to meet the growing demand, market players are showcasing advancements made in retina space in conferences to increase its reach and adoption. For instance, in July 2019, Alcon showcased its new Dual Blade Vitrectomy Probe, HYPERVIT at the American Society of Retina Specialists 2019 annual meeting. This new advanced probe is designed to enhance control and stability during microincision vitrectomy surgery.
Apart from various advantages associated with vitrectomy surgery and devices, risks associated with the process are expected to pose threat to its adoption. The possible risks associated with vitrectomy include infection in the eye, bleeding in the vitreous gel, retinal detachments, and high intraocular pressure. In addition to this, patients might develop cataracts or other eye problems after few years of vitrectomy.
Browse through Grand View Research's Medical Devices Industry Research Reports
- Hormonal Contraceptive Market: The global hormonal contraceptive market size was valued at USD 16.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.29% over the forecast period.
- Ocular Adhesives And Sealants Market: The global ocular adhesives and sealants market size was valued at USD 136.7 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.28% from 2022 to 2030.
Vitrectomy Devices Market Segmentation
Grand View Research has segmented the global vitrectomy devices market based on product, application, end-use, and region:
Vitrectomy Devices Product Outlook (Revenue, USD Million, 2016 - 2028)
- Vitrectomy machines
- Vitrectomy packs
- Photocoagulation lasers
- Illumination devices
Vitrectomy Devices Application Outlook (Revenue, USD Million, 2016 - 2028)
- Diabetic retinopathy
- Retinal detachment
- Macular hole
- Vitreous hemorrhage
- Others
Vitrectomy Devices End-use Outlook (Revenue, USD Million, 2016 - 2028)
- Hospitals
- Ophthalmic Clinics
- Ambulatory Surgery Centers
Vitrectomy Devices Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Share Insights
- July 2019: Alcon showcased its new Dual Blade Vitrectomy Probe, HYPERVIT at the American Society of Retina Specialists 2019 annual meeting. This new advanced probe is designed to enhance control and stability during microincision vitrectomy surgery.
- July 2016: Medical Instrument Development Laboratories, Inc. received FDA 510 (k) clearance for Bi-Blade Vitrectomy Cutter.
Key Companies profiled:
Some of the prominent players in the vitrectomy devices 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
Order a free sample PDF of the Vitrectomy Devices Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Comments
Post a Comment