Vitreoretinal Surgery Devices Market size to exceed $1.9bn by 2025
Published Date: June 18, 2019 Authors: Sumant Ugalmugle, Rupali Swain
Vitreoretinal Surgery Devices Market size is set to exceed USD 1.9 billion by 2025; according to a new research study published by Global Market Insights, Inc.
Vitreoretinal surgery devices are used to treat various ocular diseases such as vitreous hemorrhage, macular degeneration, retinal detachment and others. Ophthalmic surgeons use highly specialized devices and techniques to perform the such vitreoretinal procedures. Increasing rate of geriatric population is a major growth augmenting factor as people above the age of 60 are more prone to eye related diseases. Moreover, rising government initiative with the aim to raise awareness among the population about various retinal treatments will propel market growth.
Vitreoretinal surgery devices are expected to witness substantial growth over the forecast timeframe owing to increasing technological advents in surgical devices to assure less procedural time and efforts will provide market growth opportunities. Introduction of robot-assisted vitreoretinal surgeries will further improve procedural efficiency and limit post-surgery complications. Moreover, rising prevalence of ocular diseases such as, diabetic retinopathy, refractive error and cataract will further augment market growth.
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However, high cost of vitreoretinal surgery devices is a major growth restricting factor. Additionally, poor reimbursement coverage for such procedures will further limit market growth. Also, surgery complications such as eye inflammation, light sensitivity, photopsia and macular edema will limit the adoption rate of vitreoretinal surgery devices, thus hindering market growth.
Browse key industry insights spread across 160 pages with 127 market data tables & 7 figures & charts from the report, “Vitreoretinal Surgery Devices Market Size By Product (Photocoagulation Lasers, Illumination Devices, Vitreoretinal Packs, Vitrectomy Machines, Vitrectomy Probes), By End-use (Hospitals, Specialty Clinics, Ambulatory Surgery Centers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Photocoagulation lasers held major chunk of revenue accounting for total value of USD 409.9 million in 2018. Photocoagulation lasers are used to treat several eye diseases and has become widely used in recent years. These devices are expected to witness a positive growth trajectory owing to its efficiency in treatment coupled with increasing prevalence of ocular diseases. For instance, according to the American National Eye Institute, 2.7 million people in America are suffering from glaucoma and is expected to increase over time thus, contributing to segment growth.
Specialty clinics for vitreoretinal surgery procedures are expected to witness considerable growth of 3.4%. High growth is attributed to rise in prevalence of ocular diseases such as, age-related macular degeneration, glaucoma, diabetic retinopathy, cataract and others. Additionally, presence of state-of-the-art facilities in such settings encourage people to prefer specialty clinics over other end-use settings. Moreover, increasing number of such clinics in developed as well as developing economies will further augment segmental growth.
U.S. vitreoretinal surgery devices market held majority share of 91.7% in 2018. This growth is attributed to increasing awareness among the population about various vitreoretinal treatments. Moreover, rising incidence of eye disorders are further driving market growth. For instance, as per Centers for Disease Control and Prevention (CDC), more than 3.3 million Americans aged 40 years and older are either with low vision or legally blind. The major cause of low vision and blindness in the U.S. are primarily age-related eye disorders such as cataract, glaucoma, etc. Hence, the aforementioned reasons will majorly impact market growth.
Some of the key industry players operating in the global vitreoretinal surgery devices market are Alcon, Inc., Bausch & Lomb, Inc., OCULUS Optikgeräte GmbH, MedOne Surgical, Inc., Carl Zeiss Meditec AG, Designs for Vision, Inc., Peregrine Surgical, and D.O.R.C. Dutch Ophthalmic Research Center (International) B.V. The industry participants emphasize on acquisitions and mergers, geographical expansion and novel product developments to strengthen their position in the market and gain competitive advantage over its peers.
Vitreoretinal surgery devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2014 to 2025, for the following segments:
Vitreoretinal Surgery Devices Market by Devices, 2014 – 2025 (USD Million)
- Photocoagulation lasers
- Illumination devices
- Vitreoretinal packs
- Vitrectomy machines
- Vitrectomy probes
Vitreoretinal Surgery Devices Market by End-Use, 2014 – 2025 (USD Million)
- Specialty clinics
- Ambulatory surgery centers
The above information is provided for the following regions/countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia