Press release
Vitreoretinal Surgery Devices Market Analysis 2024-2033: Evaluating Growth Opportunities and Revenue Forecast
Vitreoretinal Surgery Devices
Market Size And Growth Forecast:
The vitreoretinal surgery devices market size has grown strongly in recent years. It will grow from $1.99 billion in 2023 to $2.11 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to increased incidence of retinal disorders, aging population, advancements in surgical techniques, risen diabetic population, patient preference for minimally invasive surgery.
The vitreoretinal surgery devices market size is expected to see strong growth in the next few years. It will grow to $2.57 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to continuous growth in aging demographics, increasing burden of retinal diseases, advancements in surgical instrumentation, growing diabetes epidemic, expansion of healthcare infrastructure. Major trends in the forecast period include focus on retinal imaging technologies, advancements in intraocular tamponades, innovations in laser systems, customization and patient-specific approaches, integration of artificial intelligence.
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Market Segmentation:
The vitreoretinal surgery devices market covered in this report is segmented -
1) By Product: Photocoagulation Lasers, Illumination Devices, Vitrectomy Machines, Vitrectomy Probes, Vitreoretinal Packs, Other Products
2) By Surgery: Anterior Vitreoretinal Surgery, Posterior Vitreoretinal Surgery
3) By Application: Diabetic Vitreous Hemorrhage, Retinal Detachment, Macular Hole, Other Applications
4) By End-Users: Hospitals, Specialty Clinics, Ambulatory Surgery Centers, Other End-Users
Major Driver - Growing Incidences Of Eye Disorders Fueling Expansion In The Vitreoretinal Surgery Device Market
Growing incidences of eye disorders are expected to propel the growth of the vitreoretinal surgery device market going forward. Eye disorders refer to non-neoplastic or neoplastic disorders that affect the eye. Vitreoretinal surgery devices are used to treat eye diseases such as macular degeneration, cataracts, diabetes-related retinopathy, glaucoma, and retinal detachment. For instance, in December 2022, according to the Centers for Disease Control and Prevention, a US-based federal agency, in the United States, 12 million persons aged 40 and older would have vision impairment, of which 1 million are blind, 3 million have it after having their vision corrected, and 8 million have it because of uncorrected refractive error. Therefore, the increasing incidence of eye disorders drives the vitreoretinal surgery device market.
Competitive Landscape:
Major companies operating in the vitreoretinal surgery devices market report are Alcon Inc., Bausch & Lomb Inc., OCULUS Optikgerate GmbH, MedOne Surgical Inc., Carl Zeiss Meditec AG, Peregrine Surgical Group Pvt. Ltd., D.O.R.C. Dutch Ophthalmic Research Center B.V., Paragon Care Group Pvt. Ltd., Topcon Corporation, Geuder AG, IRIDEX Corporation, Ellex Medical Lasers, Erbe Elektromedizin, Design For Vision Inc., BVI Medical Inc., Allen Medical Systems, Abbott Laboratories, Medtronic plc, Mediland Enterprise Co., Merivaara Group, Wallach Surgical Devices Inc., Sunnex MedicaLights, Stars Medical Devices, Smith & Nephew plc, Inami & Co. Ltd., Novartis AG, Katradis Marine Ropes Ind. S.A., Tufropes Pvt. Ltd., Hoya Corporation
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Top Trend - Sight Sciences Pioneers Innovation In Vitreoretinal Surgery With The Launch Of Sion Surgical Instrument
Product innovation is a key trend gaining popularity in the vitreoretinal surgery device market. Companies operating in the vitreoretinal surgery device market are working on new product innovations to sustain their position in the market. For instance, in August 2022, Sight Sciences, a US-based ophthalmology company, launched the SION Surgical Instrument, the first bladeless device used in goniotomy. This innovative device represents a new chapter in goniotomy innovation and practice with its signature bladeless design. The SIONTM Surgical Instrument is a sterile, single-use, manually operated device used in ophthalmic surgical procedures to excise trabecular meshwork.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Vitreoretinal Surgery Devices Market Characteristics
3. Vitreoretinal Surgery Devices Market Trends And Strategies
4. Vitreoretinal Surgery Devices Market - Macro Economic Scenario
5. Vitreoretinal Surgery Devices Market Size And Growth
…..
27. Vitreoretinal Surgery Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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