Global Vitrectomy Devices Market Size Projected To Grow To USD 1.89 Billion By 2032, With A CAGR Of 5.28% - S&S Insider

(MENAFN- GlobeNewsWire - Nasdaq) According to Research by S&S Insider, The Vitrectomy Devices Market Growth is Driven by Rising Diabetes-Related Retinal Conditions and Technological Advances.

Austin, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Vitrectomy Devices Market Size Analysis:

“According to S&S Insider, The Vitrectomy Devices Market Size was valued at USD 1.19 billion in 2023 and is projected to Surpass USD 1.89 billion by 2032, growing at a CAGR of 5.28% over the forecast period from 2024 to 2032.”

Market Overview

Vitrectomy is an important surgical procedure performed to cure various retinal and vitreous diseases. The rising incidents of eye diseases, including macular holes, diabetic retinopathy, and retinal detachment, are likely to boost the demand for vitrectomy devices. With the aging population rapidly increasing, these conditions will also surge, mostly among the senior citizens from all over the world. All of these combined with advancements made to the surgical technology and tools have led to a sharp rise in the application of vitrectomy instruments.

Ever-increasing investment in the research and development of vitrectomy machines is being seen in the market, which brings out more sophisticated versions of the same, with improvements in fluidic control, intraocular pressure, and cutting rates to optimize surgical outcomes. Single-use disposable products, such as vitrectomy packs, are on the rise due to its convenience, safety, and risk of infection. Such advancements have made the procedure of vitrectomy much easier and more accessible, which only increases the demand for these devices.

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Expanding Applications and Technological Innovations Fuel Market Growth

The use of next-generation vitrectomy machines and surgical packs that offer advanced performance during subtle eye surgeries will prove beneficial for the Global Vitrectomy Devices Market. The rising number of patients diagnosed with retinal diseases, such as macular hole, retinal detachment, and diabetic retinopathy, continues to drive demand for the use of vitrectomy devices. Early diagnosis as well as effective treatments will advance and spur market growth.

Key Vitrectomy Devices Companies Profiled:

• Alcon Inc.
• Bausch + Lomb Incorporated
• BVI
• NIDEK Co., Ltd.
• Johnson & Johnson Vision Care, Inc.
• Blink Medical
• Topcon Corporation
• Carl Zeiss Meditec AG
• HOYA Medical Singapore Pte. Ltd.
• HAAG-STREIT GROUP
• MedOne Surgical

Vitrectomy Devices Market Report Scope:

Report Attributes	Details
Market Size in 2023	US$ 1.19 Billion
Market Size by 2032	US$ 1.89 Billion
CAGR	CAGR of 5.28% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Key Regional Coverage	North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)

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Segment Analysis

By Product

The vitrectomy machines segment dominated the market in 2023, accounting for 37% of the revenue share. This dominance can be attributed to the continual improvements in machine capabilities, including advancements in fluidic management, cutting speed, and intraocular pressure control, making these devices essential for high-precision surgeries. These machines are commonly used in retinal surgeries and are considered an integral part of the vitrectomy procedure.

By Application

In 2023, the macular hole segment held the largest share of the vitrectomy devices market. A macular hole, which is a tear in the central part of the retina, leads to significant visual impairment. Vitrectomy surgery is often the only effective treatment for macular holes, especially if the hole is impairing vision. The increasing prevalence of macular holes due to aging, high myopia, and trauma is a major factor driving the demand for vitrectomy devices in this segment.

By End-Use

The hospital segment led the market in 2023, accounting for the largest revenue share. Hospitals are key players in the vitrectomy devices market, as they possess the necessary infrastructure, skilled professionals, and advanced equipment required for complex eye surgeries. The growing adoption of advanced vitrectomy machines and surgical techniques in these facilities has supported this segment's growth.

Vitrectomy Devices Market Key Segmentation:

By Product

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

By Application

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

By End-Use

• Hospitals
• Ophthalmic clinics
• Ambulatory surgical centers

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Regional Analysis

North America dominated the Vitrectomy Devices Market in 2023, accounting for a significant share. The region's leadership can be attributed to the high adoption of advanced surgical technologies, a robust healthcare infrastructure, and the rising incidence of retinal disorders. The U.S. holds a dominant position in the market, with many leading manufacturers of vitrectomy devices based in the country. Additionally, the growing elderly population in North America is contributing to the increasing prevalence of retinal diseases, further propelling the demand for vitrectomy procedures.

The Asia Pacific region is expected to witness the fastest growth over the forecast period. The rapid economic development in countries like China and India, coupled with an expanding healthcare infrastructure, is contributing to the rising demand for vitrectomy devices. The region also has a large population with an increasing incidence of retinal diseases due to aging and lifestyle changes. Moreover, the growing number of eye care centers and ophthalmic surgeries in countries like Japan, South Korea, and China is expected to boost the market in Asia Pacific.

Recent Developments

• In April 2024 , Carl Zeiss Meditec AG, a leading player in the ophthalmic medical devices sector, acquired the Dutch Ophthalmic Research Center (D.O.R.C.). This strategic acquisition is anticipated to strengthen Zeiss's portfolio of digital workflow solutions in the coming years, enhancing the company's position in the vitrectomy devices market.
• In September 2023 , BVI, a rapidly expanding and diversified surgical ophthalmic company, announced its acquisition of Medical Mix, a specialist in supplying medical devices for ophthalmic surgeries in Spain and Portugal. This acquisition aligns with BVI's strategy for growth and geographic expansion, allowing the company to broaden its reach in the European market.

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