Vitrectomy Devices Market Size To Reach $1.87 Billion By 2030

 

The global Vitrectomy Devices Market size is expected to reach USD 1.87 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.3% from 2024 to 2030. 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.

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Vitrectomy Devices Market Report Highlights

• The vitrectomy machines held the largest revenue share in 2023 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

Vitrectomy Devices Market Segmentation

Grand View Research has segmented the global vitrectomy devices market based on product, application, end use, and region

Vitrectomy Devices Product Outlook (Revenue, USD Million, 2018 - 2030)

• Vitrectomy machines
• Vitrectomy packs
• Photocoagulation lasers
• Illumination devices

Vitrectomy Devices Application Outlook (Revenue, USD Million, 2018 - 2030)

• Diabetic retinopathy
• Retinal detachment
• Macular hole
• Vitreous hemorrhage
• Others

Vitrectomy Devices End Use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
• Ophthalmic clinics
• Ambulatory surgical centers

Vitrectomy Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Italy
• Spain
• Denmark
• Sweden
• Norway
• Asia Pacific
• Japan
• China
• India
• Thailand
• South Korea
• Australia
• Latin America
• Brazil
• Argentina
• Middle East and Africa
• South Africa
• Saudi Arabia
• UAE
• Kuwait

List of Key Players of Vitrectomy Devices Market

• Alcon Inc.
• Bausch + Lomb.
• BVI
• NIDEK CO., LTD.
• Johnson & Johnson Vision Care, Inc.
• Blink Medical
• Topcon Corporation         
• Carl Zeiss Meditec AG
• HOYA Medical Singapore Pte. Ltd