Vitrectomy Devices Market to Reach $1.7 Billion By 2032 at 5.1% CAGR

Allied Market Research published a report, titled, "Vitrectomy Devices Market by Product (Vitrectomy Packs, Vitrectomy Machines, Surgical Instruments, and Others) and Application (Diabetic Retinopathy, Retinal Detachment, Epiretinal Membrane, Macular Hole, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the vitrectomy devices industry generated $1.1 billion in 2023 and is anticipated to generate $1.7 billion by 2032, witnessing a CAGR of 5.1% from 2024 to 2032.

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Prime determinants of growth

Increase in prevalence of eye-related disorders, rise in awareness of eye health, and advancements in technology are the major factors that drive the growth of the vitrectomy devices market. However, the high cost of vitrectomy procedure and complications related to vitrectomy surgery restrict market growth. Moreover, the high growth potential in emerging countries is expected to present new opportunities in the coming years.

The vitrectomy packs segment held the largest market share in 2023.

By product, the vitrectomy packs segment held the largest market share in 2023, accounting for more than two-fifths of the vitrectomy devices market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to vitrectomy packs offer convenience by providing a comprehensive set of disposable surgical tools required for the procedure in a single package. This streamlines the preparation process, reduces the risk of cross-contamination, and ensures that all necessary instruments are readily available, which is highly beneficial in operating rooms.

However, the vitrectomy machines segment is expected to register the highest CAGR of 5.6% during the forecast period. This is attributed to advancements in surgical technology that enhance precision and safety. In addition, increasing demand for minimally invasive procedures and improved patient outcomes drive the adoption of these machines.

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The macular hole segment held the largest market share in 2023.

By application, the macular hole segment held the largest market share in 2023, accounting for around two-fifths of the vitrectomy devices market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the increase in prevalence of macular holes, particularly among the aging population, which leads to a higher demand for vitrectomy procedures. However, the retinal detachment segment is expected to register the highest CAGR of 5.8% during the forecast period. This is attributed to increasing incidence of retinal detachments, particularly among aging populations.

North America held the largest market share in 2023.

North America dominated the market share in 2023, accounting for more than two-fifths of the vitrectomy devices market revenue, owing to rise in prevalence of retinal disorders, advanced healthcare infrastructure, and widespread adoption of cutting-edge surgical technologies. In addition, the presence of key market players and favorable reimbursement policies further augment the region's leadership in the vitrectomy devices market. However, Asia-Pacific is expected to register the highest CAGR of 5.8% during the forecast period owing to the growing prevalence of retinal disorders, increasing awareness of eye health, and improving healthcare infrastructure. In addition, the rise in elderly population and surge in access to advanced surgical technologies in emerging markets such as China and India foster the demand for vitrectomy devices.

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Leading Market Players:

• Bausch Health Companies Inc.
• Carl Zeiss AG, Geuder AG
• Danaher Corporation
• Topcon Corporation
• Mani, Inc.
• BVI Medica
• Alcon Inc.
• OCULUS Optikgerte GmbH
• Inami & CO.,Ltd .

The report provides a detailed analysis of these key players in the vitrectomy devices market. These players have adopted strategies such as acquisition 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.

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