Vitreoretinal Surgery Devices Market to Reach $4.1 Billion, Globally, by 2033 at 5.9% CAGR: Allied Market Research

PORTLAND, OR, UNITED STATES, December 11, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Vitreoretinal Surgery Devices Market by Product (Perfluorocarbon Liquids, Endoillumination Instrument, Vitreoretinal Prefilled Silicone Oil Syringes, Vitrectomy System and Other), Surgery Type (Anterior Vitreoretinal Surgery and Posterior Vitreoretinal Surgery), and End User (Hospitals, Specialty Clinics and Ambulatory Surgery Centers): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the vitreoretinal surgery devices market was valued at $2.3 billion in 2023, and is estimated to reach $4.1 billion by 2033, growing at a CAGR of 5.9% from 2024 to 2033.

Prime Determinants of Growth

Major factors driving the growth of the vitreoretinal surgery devices market are increasing prevalence of ophthalmic diseases, technological advancement in the vitreoretinal surgery devices and rise in geriatric population. As the global population ages, there is an increase in age-related eye diseases such as age-related macular degeneration (AMD), diabetic retinopathy, and glaucoma, which often require vitreoretinal surgical interventions. The aging process itself contributes to conditions such as vitreous floaters, retinal detachments, and epiretinal membranes, necessitating surgical procedures to restore or preserve vision. Moreover, advancements in healthcare infrastructure and technologies have enhanced the accessibility and success rates of vitreoretinal surgeries, making them more feasible options for elderly patients seeking to maintain their visual health and quality of life.

𝐆𝐞𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/1069

In addition, a rise in prevalence of ophthalmic diseases is expected to drive the growth of the market. Diabetic retinopathy, in particular, has become more prevalent due to the growing number of individuals diagnosed with diabetes worldwide. This condition can cause severe vision impairment and blindness if left untreated, prompting a greater demand for vitreoretinal surgery devices that aid in procedures like vitrectomy to remove blood or scar tissue from the retina.

Report Coverage & Details
Repot Coverage
Details
Forecast Period
2024–2033
Base Year
2023
Market Size in 2023
$2.3 billion
Market Size in 2033
$4.1 billion
CAGR
5.9%
No. of Pges in Report
280
Segments Covered
Product, Surgery Type, End User, and Region
Drivers
Surge in prevalence of ophthalmic disorders
Rise in geriatric population
Rise in awareness about ophthalmic disorders and its early diagnosis
Opportunities
Technological advancement in vitreoretinal surgery devices
Restraint
High product cost

Segment Highlights

The vitrectomy system segment dominated market share in 2023

By product, the vitrectomy system segment dominated the market share in 2023. This is attributed to the fact that vitrectomy system is used in wide range of complex eye conditions, including diabetic retinopathy, macular holes, retinal detachments, and vitreous hemorrhages. The vitrectomy system's ability to facilitate precise and minimally invasive procedures is highly valued, as it allows surgeons to perform delicate maneuvers within the vitreous cavity with enhanced control and visibility.

Anterior vitreoretinal surgery segment dominated the market share in 2023

By surgery type, the anterior vitreoretinal surgery segment dominated the market share in 2023. This is attributed to advancements in surgical techniques and instrumentation that have significantly expanded the scope and efficacy of anterior vitreoretinal procedures. Anterior vitreoretinal procedures encompass a wide array of interventions targeting conditions affecting the anterior segment of the eye, such as diabetic retinopathy, vitreous hemorrhage, and complex retinal detachments involving anterior vitreous base pathology.

Hospital segment dominated market share in 2023

By end user, the augmented reality segment dominated the market share in 2023. This is attributed to the fact that hospitals serve as primary centers for specialized medical procedures, including vitreoretinal surgeries, which are often complex and require sophisticated equipment. These facilities are equipped with operating rooms that are specifically tailored to handle delicate eye surgeries, ensuring the necessary infrastructure and sterile environments essential for successful procedures.

Regional Outlook

By region, North America held a dominant position in the market in 2023, attributed to high adoption of the vitreoretinal surgery devices, advanced healthcare infrastructure, supportive regulatory frameworks, and increasing prevalence of ophthalmic disorders. In addition, the strong presence of major key players and high research and development activities in the region for development of advanced vitreoretinal surgery devices is expected to contribute to the growth of the market. However, the Asia-Pacific region is expected to register the highest CAGR in the forecast period. This is attributed to technological advancements, rise in geriatric population and developing healthcare infrastructure.

Players

Bausch & Lomb Incorporated

Novartis AG

Inami & Co.

Paragon Care Group Pty Ltd

Oculus Inc.

MedOne Surgical, Inc.

Carl Zeiss Meditec AG

Peregrine Surgical

Johnson & Johnson

Blink Medical

The report provides a detailed analysis of these key players in the global vitreoretinal surgery devices market. These players have adopted different strategies such as product launch and product approval to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to highlight the competitive scenario.

Recent Development

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

𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/1069

David Correa
Allied Market Research
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