Vitrectomy Devices Market Trends, Revenue, Key Players, Growth, Share and Forecast till 2027
Retina is a layer of nerve tissue lining the back of the eye. It receives light and converts it into neural signals and sends these signals to the brain for visual recognition.
There are several types of retinal diseases affecting the retina, including retinal detachment, macular pucker or hole, diabetic retinopathy, and vitreous hemorrhage
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Vitrectomy is a surgical procedure, which removes the vitreous gel that fills the eye cavity, using a small microsurgical equipment. The surgeon may then use a laser to seal the retinal tears or holes. The eye is then filled with a gas bubble to hold the retina in place while it heals.
There are two different types of victrectomies: posterior pars plana vitrectomy and anterior vitrectomy. These surgeries are performed for the removal of scar tissue, laser repair of retinal detachments, and treatment of macular holes.
Key Drivers of Global Vitrectomy Systems Market
Rise in prevalence of retinal disorders globally and rapidly increasing geriatric population are likely to drive the global vitrectomy systems market
Rise in prevalence of retinal disorders, such as diabetic retinopathy, age-related macular degeneration, and retinal detachment are projected to boost the growth of the global vitrectomy systems market during the forecast period
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According to the American Academy of Ophthalmology (AAO), currently, around 93 million people are affected by diabetic retinopathy across the globe
Increase in the prevalence of diabetes mellitus, a major risk for diabetic retinopathy, is anticipated to propel the global market
Currently, 387 million people in the world have diabetes mellitus and the number is expected to reach 592 million by 2035. One in three individuals with diabetes mellitus is at high risk of developing diabetic retinopathy.
Baby boomer population is vulnerable to retinal disorders, such as retinal detachment, vitreous hemorrhage, age-related macular degeneration, and diabetic retinopathy. This is anticipated to augment the global vitrectomy systems market during the forecast period.
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North America to Hold Major Share of Global Vitrectomy Systems Market
Rise in prevalence of diabetic retinopathy is projected to drive the demand for vitrectomy systems in the U.S. According to the American Association of Ophthalmology (AAO), vitreous hemorrhage has an incidence rate of 7 cases per 100,000, which makes it one of the most common causes of acutely decreased vision.
Favorable reimbursement scenario for ophthalmic procedures, such as vitrectomy, is expected to boost the vitrectomy systems market in the near future
Launch of innovative devices for the treatment of retinal disorders by leading players is expected to propel the vitrectomy systems market in the U.S. For instance, in July 2019, Alcon, a leading player in eye care, launched the HYPERVIT dual blade vitrectomy probe, the latest evolution of the ULTRAVIT probes and newest addition to the pioneering CONSTELLATION Vision System at the American Society of Retina Specialists (ASRS), 2019. The product is indicated for vitreous cutting and aspiration, membrane cutting and aspiration, and dissection of tissue and lens removal and will enhance stability and control during micro incision vitrectomy surgery (MIVS). The strategy will enable the firm to focus on customer needs, and update and advance the existing product portfolio of the company.
The vitrectomy systems market in the Europe is anticipated to grow at a substantial rate, owing to the increase in the burden of retinal disorders, such as diabetic retinopathy and vitreous hemorrhage among adult patients. Proliferative diabetic retinopathy is the most frequent cause of vitreous hemorrhage in adults. For instance, 6% of the adults in London and 19.1% in Sweden have vitreous hemorrhage.
Asia Pacific vitrectomy systems market is anticipated to grow at a rapid pace due to the increase in prevalence of diabetes and related retinopathy in geriatric population in emerging countries such as India and China
According to the International Diabetic Federation (IDF), diabetic population in India is anticipated to cross the alarming mark of 69.9 million by 2025 and 80 million by 2030. Moreover, diabetic retinopathy is a major complication, affecting nearly 18% of the diabetic population in India. All these factors are anticipated to fuel the demand for vitrectomy systems during the forecast period.
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Key Players Operating in Global Market
Major players operating in the global vitrectomy systems market are:
Carl Zeiss Meditec AG
Bausch & Lomb, Inc.
Johnson & Johnson Vision
O.R.C. International B.V.
Oertli Instruments AG
Graybug Vision, Inc.
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