Report Scope & Overview:
The Vitrectomy Devices Market Size was valued at USD 1.17 billion in 2022, and is expected to reach USD 1.92 billion by 2030, and grow at a CAGR of 6.4% over the forecast period 2023-2030.
Vitrectomy devices are crucial medical equipment and supplies needed for vitrectomy. An eye procedure called a vitrectomy is used to address a variety of retinal and vitreous disorders. The main warning signs and symptoms of eye issues include losing vision, seeing floaters or specks, having distorted or blurry vision, problems with side vision, and seeing floaters or specks. The purpose of the surgery is to remove the vitreous and replace it with another substance. The center of the eye is filled with vitreous, which is a gel-like substance. Utilizing specific vitrectomy surgery equipment, like vitrectomy supplies and systems, ensures that the procedure is completed safely and with the desired results. The instruments most frequently used for vitrectomy include machines, tamponades, light pipes, probes, scissors, and lasers.
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Diabetes is more common than ever.
Increasing knowledge of conditions affecting the eyes, as well as the available remedies
The market's expansion is being boosted by rising demand for minimally invasive procedures for eye surgery.
Fears regarding the potential risks of a vitrectomy
One of the key factors anticipated to accelerate the growth and demand for vitrectomy equipment is the rising incidence rate of retinal detachment.
Healthcare services that are ineffective and a sluggish adoption of new technology
IMPACT OF COVID-19
People from all across the world have been affected by the pandemic, and operating facilities have been shut down globally. During the lockdown period, the healthcare sector is dealing with unusual situations. Shutting down the production facilities also had an impact on the creation of medicinal products. A decrease in warehouse inventory of the manufactured goods was caused by the disruption of the medical products' supply chain.
Due to fewer visits to ophthalmic care hospitals in the medical context in order to limit the likelihood of infection, COVID-19 had a negative effect on the global market for vitrectomy devices. Additionally, COVID-19 patients must deal with eye issues including conjunctivitis, which prevents medical staff from performing ophthalmic procedures. During the projection period, the government's introduction of guidelines to provide effective and ongoing medical treatment in addition to ophthalmology is anticipated to drive market growth.
By Product Type
Vitrectomy equipment: According to estimates, this market sector will have the highest revenue share. The devices have cutting-edge features like quick cut rates, novel fluidics, intraocular pressure, and compact gauge sizes.
The demand for vitrectomy packs has increased for procedures including detaching the posterior vitreous and performing retinal surgery, which include removing the vitreous from the retina and the epiretinal membrane.
Lasers used for photocoagulation: The laser helps to obliterate or reduce aberrant retinal structures, which improves surgical precision.
Devices for producing light are used to enhance the surgeon's visibility during vitreoretinal surgery. The most often used lighting sources include metal halide, halogen, LED, Xenon, and mercury vapor.
Macular Hole: The market dominance of the segment is anticipated. The macula, which is located in the center of the retina, has a microscopic breach, known as the macular hole.
Diabetic Retinopathy: During the projected period, the market is anticipated to expand quickly. The segment will likely be driven by the rapid rise in diabetic retinopathy cases around the globe.
Retinal Detachment: Patients with excessive myopia are more likely to get retinal detachment. High myopia is becoming more common, which is accelerating market expansion.
Blood leaks into various areas that have formed inside or around the vitreous body in a condition known as vitreous hemorrhage. Retinal tears or neovascularization of the retina might cause the disorder to develop immediately.
Other: Other uses for vitrectomy include treating eye infections and injuries.
Hospitals: This market sector is anticipated to grow rapidly. This is explained by the rise in hospitals offering ocular care, including vitrectomy, and the rising acceptance of vitrectomy surgeries.
Ambulatory Surgery Centers: The industry is anticipated to grow quickly. This is a result of the rise in ambulatory surgery facilities in developing and impoverished nations.
Ophthalmic Clinics: These are general clinics for licensed medical professionals. The majority of these are general practitioners or ophthalmologists. The patient is given advice and initial therapy for an eye condition.
KEY MARKET SEGMENTS:
By Product Type
Ambulatory Surgery Centers
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Due to the increased prevalence of diabetes, North America held the greatest market share for vitrectomy devices. According to the National Diabetes Statistics, diabetes affects about 9.5% of the country's population as a whole. These figures show the market in the area is expanding rapidly. The presence of major players like BVI (US), Johnson & Johnson Vision Care, Inc. (US), and Med One Surgical, Inc. (US) in the region, as well as established research organisations dedicated to product development and the availability of cutting-edge diagnostic products, all contribute to the market's expansion. In order to grow their businesses, the major companies are expanding their operational facilities around the region, forming alliances, and launching new goods.
A sizable portion of people with eye-related disorders are found in Asia and the Pacific. The people in the area are becoming more conscious of problems related to the eyes. Additionally, the regional government is stepping up its awareness-raising and R&D efforts to promote private businesses' contributions to the introduction of cutting-edge technologies to the market. These elements are enhancing the market expansion in the area. The region's expanding healthcare infrastructure and more investment are fueling the market's expansion.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
Major key players are Alcon Inc., BVI, Carl Zeiss Meditec AG, Bausch & Lomb Incorporated, Johnson & Johnson Vision Care, Inc, HAAG-STREIT GROUP, Blink Medical, NIDEK CO., LTD., Med One Surgical, Inc, Topcon Corporation, Hoya Surgical Optics and other players.
BVI-Company Financial Analysis
|Market Size in 2022||US$ 1.17 Billion|
|Market Size by 2030||US$ 1.92 Billion|
|CAGR||CAGR of 6.4% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Product Type (Vitrectomy machines, Photocoagulation lasers, Vitrectomy packs, Illumination devices)
• By Application (Diabetic retinopathy, Macular hole, Retinal detachment, Vitreous hemorrhage, Others)
• By End-use (Hospitals, Ambulatory Surgery Centers, Ophthalmic Clinics)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Alcon Inc., BVI, Carl Zeiss Meditec AG, Bausch & Lomb Incorporated, Johnson & Johnson Vision Care, Inc, HAAG-STREIT GROUP, Blink Medical, NIDEK CO., LTD., Med One Surgical, Inc, Topcon Corporation, Hoya Surgical Optics.|
|Key Drivers||• Diabetes is more common than ever.|
|RESTRAINTS||• Fears regarding the potential risks of a vitrectomy|
Ans The Vitrectomy Devices Market Size was valued at USD 1.17 billion in 2022.
Ans Diabetes is more common than ever, and Increasing knowledge of conditions affecting the eyes, as well as the available remedies are the key drivers of the Vitrectomy Devices market
Ans. Due to the increased prevalence of diabetes, North America held the greatest market share for vitrectomy devices.
Ans. The Vitrectomy Devices Market is to grow at a CAGR of 6.4% over the forecast period 2023-2030.
Ans. Alcon Inc., BVI, Carl Zeiss Meditec AG, Bausch & Lomb Incorporated, Johnson & Johnson Vision Care, Inc, and HAAG-STREIT GROUP are the key players of Vitrectomy Devices market
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.2 Impact on major economies
188.8.131.52 United Kingdom
184.108.40.206 South Korea
220.127.116.11 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Vitrectomy Devices Market Segmentation, By Product Type
8.1 Vitrectomy machines
8.2 Photocoagulation lasers
8.3 Vitrectomy packs
8.4 Illumination devices
9. Vitrectomy Devices Market Segmentation, By Application
9.1 Diabetic retinopathy
9.2 Macular hole
9.3 Retinal detachment
9.4 Vitreous hemorrhage
10. Vitrectomy Devices Market Segmentation, By End-use
10.2 Ambulatory Surgery Centers
10.3 Ophthalmic Clinics
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Alcon Inc.
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.3 Carl Zeiss Meditec AG
12.4 Bausch & Lomb Incorporated
12.5 Johnson & Johnson Vision Care, Inc
12.6 HAAG-STREIT GROUP
12.7 Blink Medical, NIDEK CO., LTD.
12.8 Med One Surgical, Inc
12.9 Topcon Corporation
12.10 Hoya Surgical Optics
13. Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share Analysis
13.3 Recent Developments
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