The global Vitrectomy Devices Market size is expected to reach USD 1.7 billion by 2028. The market is expected to expand at a CAGR of 6.2% from 2021 to 2028. The growing prevalence of diabetes is expected to drive the probability of diabetic retinopathy, thus, contributing to market growth. Additionally, the growing demand for vitrectomy due to its associated advantages for providing support to other ophthalmic surgeries is also expected to boost the market growth.
Ophthalmic diseases are seen prevalent in the elderly
population. The growing geriatric population is expected to drive the market
and the need for vitrectomy devices. As per the National Institute on Aging
(NIA), the elderly population is expected to reach 72.0 million people by 2030,
which may drive the prevalence of ophthalmic disorders. In addition to this, an
increasing number of hospital admissions for retinal surgeries such as
vitrectomy is expected to drive market growth. Moreover, hospitals have also
installed vitrectomy devices to enhance vitreoretinal surgery procedures.
COVID-19 is expected to negatively impact the market
in 2020. This is due to the reduction in medical setting visits for ophthalmic
care to avoid the spread of infection. Additionally, people with COVID have to
experience ophthalmic problems like conjunctivitis, which in turn, is causing
hindrance among the medical professionals to perform general ophthalmic
surgeries. However, the development of government guidelines to provide
constant and effective medical care including ophthalmology may boost market
growth during the forecast period.
The risks associated with vitrectomy are also expected
to hinder the market growth. Patient undergone vitrectomy has a high
probability of generating cataract after few years, thus, negatively impacting
its adoption. Additionally, the lack of professional ophthalmologists to
understand the operations of advanced vitrectomy devices with multiple
functionalities may also pose a threat to the market.
Related Press Release@ Vitrectomy Devices Market Report
Vitrectomy Devices Market Report
Highlights
- The vitrectomy machines held the largest revenue share in 2020
owing to the development of advanced machines with features such as small
gauge size, and intraocular pressure control
- The vitrectomy packs segment is expected to grow at the fastest
rate during the forecast period owing to its growing adoption for various
indications
- The retinal detachment application segment is expected to grow at
the fastest rate over the forecast period owing to the growing prevalence
of high myopia. Patients with high myopia have a larger probability of
developing retinal detachment
- The ambulatory surgical centers segment is expected to
exhibit the highest growth rate during the forecast period due to its
reduced costs and shorter wait time
- In Asia Pacific, the market is expected to grow at the highest rate
due to the maximum cases of diabetic retinopathy in the region and the
presence of a large patient pool
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