Newly-released Vitrectomy Devices industry analysis report by Future Market Insights shows that global sales of Vitrectomy Devices in 2021 were held at US$ 1.2 billion. With a CAGR of 7.3% from 2022 to 2032, the market is projected to reach a valuation of US$ 2.6 billion by 2032. Vitrectomy Machines are expected to be the highest revenue-generating type, accounting for an absolute dollar opportunity of nearly US$ 1.3 billion from 2022 to 2032.
| Attribute | Details |
|---|---|
| Global Vitrectomy Devices Market (2022) | US$ 1.3 billion |
| Global Vitrectomy Devices Market (2032) | US$ 2.6 billion |
| Global Vitrectomy Devices Market CAGR (2022 to 2032) | 7.3% |
| USA Vitrectomy Devices Market CAGR (2022 to 2032) | 7.1% |
| Key Companies Profiled |
|
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As per the Vitrectomy Devices industry research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the Vitrectomy Devices industry increased at around 6.5% CAGR, wherein, countries such as the USA, United Kingdom, China, South Korea, and Japan held a significant share in the global market. Owing to this, the Vitrectomy Devices market is projected to grow at a CAGR of 7.3% over the coming 10 years.
Vitrectomy aids in the removal of blood from the vitreous humour and the prevention of traction retinal detachment. This, in turn, helps to smooth the process of many other ophthalmic surgeries and prevents further retinal detachment during the procedure. Furthermore, vitrectomy aids in the restoration of vision loss caused by vitreous humour bleeding.
The increased frequency of retinal illness, as well as the causes for it, are expected to drive the market throughout the forecast period. Diabetes has a negative impact on eye health, causing eyesight loss through damaging the retina's blood vessels. Diabetic retinopathy affected 7.7 million Americans in 2018, according to the National Eye Institute. By 2030, this number is projected to rise to 11.3 million, thus propelling the market forward.
Hospital admissions for Rhegmatogenous Retinal Detachment (RRD) in the United Kingdom have been increasing since 2000. A substantial number of patients are admitted for RRD, according to HES Hospital Admitted Patient Care Activity statistics, increasing demand for pars plana vitrectomy surgeries.
As a result, market participants are demonstrating innovations in the retina domain at conferences in order to broaden its reach and adoption in order to fulfill rising demand. In July 2019, Alcon debuted their new HYPERVIT Dual Blade Vitrectomy Probe at the American Society of Retina Specialists’ annual meeting. During microincision vitrectomy surgery, this cutting-edge probe is designed to increase stability and balance.
Aside from the numerous benefits affiliated with vitrectomy surgical procedures and devices, the risks associated with the procedure are expected to pose a barrier to its widespread adoption. The risks of vitrectomy include eye infection, bleeding in the vitreous gel, retinal detachment, and high intraocular pressure. Furthermore, after a few years of vitrectomy, patients may develop cataracts or other eye problems.
Principal Consultant
The market in Asia Pacific is expected to register the highest CAGR of nearly 8% during the forecast period due to increased demand for Vitrectomy Devices in developing countries, especially Japan and China. This can be attributed to the increasing geriatric population in the region.
During the forecast period, the market in Asia Pacific will grow at the fastest rate of the presence of a large patient pool seeking ophthalmic care and the adoption of vitrectomy devices. Furthermore, the government's increasing emphasis on providing improved healthcare centers and proper patient care is further contributing to market growth.
In 2021, the United States held the largest market share, accounting for over 35% of total revenue. The rising prevalence of ocular ailments including diabetic retinopathy, retinal detachment, and the macular hole is likely to boost market expansion in the region.
Several companies in the country are seeking FDA approval in the United States for their products, allowing them to remain competitive in the market. Medical Instrument Development Facilities, Inc., for example, gained FDA 510 (k) clearance in July 2016 for the Bi-Blade Vitrectomy Cutter. Thus, the growing prevalence of such diseases caused a rise in the revenue share in the US.
The market in the United Kingdom is projected to reach a valuation of US$ 133 million by 2032. With a CAGR of 8%, the market is expected to gross an absolute dollar opportunity of US$ 72 million from 2022 to 2032.
In Japan, the market is projected to reach a valuation of US$ 122 million by 2032. Growing at a CAGR of 7.8%, the market is expected to garner an absolute dollar opportunity of US$ 65 million.
The market in South Korea is projected to garner an absolute dollar opportunity of US$ 18.5 million, growing at a CAGR of 5.3% from 2022 to 2032. By 2032, the market is likely to reach a valuation of US$ 45 million.
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In 2020, the vitrectomy machines segment dominated the market, accounting for 36.8% of the total revenue. The development of new generation machines with advanced features such as improved fluidics, high cut rates, small gauge size, and intraocular pressure control has contributed to the segment's growth. For example, Alcon's Constellation Vision System has fluidics that works for small-gauge surgery, overcoming previous machines' limitations.
During the forecast period, the vitrectomy packs segment is projected to expand at the fastest rate. This can be attributed to the increased use of these packs in a variety of indications, including vitreous removal from the retina, epiretinal membrane removal, collective procedures for retinal surgery, and posterior vitreous detachment.
Furthermore, the vitrectomy pack's additional benefits, such as portability, optical magnification, and fast response, are expected to propel the growth of vitrectomy devices. According to the CDC, diabetic retinopathy affects one-third of African-Americans and Mexican Americans over the age of 40. Furthermore, 4.2 million people have diabetic retinopathy, and 655,000 have vision-threatening diabetic retinopathy. As a result, the increasing incidence of diabetic retinopathy is expected to drive segment growth over the forecast period.
The COVID-19 pandemic harmed a range of medical specialties, including ophthalmology. Conjunctivitis was reported in 1% to 3% of patients who have been infected with the coronavirus. Consequently, ophthalmologists are being recommended to conduct only emergency ocular procedures during the global outbreak in order to keep the illness from spreading.
The key players operating in the vitrectomy devices market include Alcon Inc., Bausch & Lomb Incorporated, BVI, NIDEK CO., LTD., Johnson & Johnson Vision Care, Inc., Blink Medical, Topcon Corporation, Carl Zeiss Meditec AG, and Hoya Surgical Optics
Some of the recent developments of key Vitrectomy Devices providers are as follows:
Similarly, recent developments related to companies offering Vitrectomy Devices have been tracked by the team at Future Market Insights, which are available in the full report.
The global Vitrectomy Devices market is worth more than US$ 1.2 billion at present.
The value of Vitrectomy Devices is projected to increase at a CAGR of around 7.3% from 2022 to 2032.
The value of Vitrectomy Devices increased at a CAGR of around 6.7% from 2017 to 2021.
Top five players of Vitrectomy Devices market include Alcon Inc., Bausch & Lomb Incorporated, BVI, NIDEK CO. LTD., Johnson & Johnson Vision Care Inc.
The top 5 countries driving demand for Vitrectomy Devices are the USA., United Kingdom, China, Japan, and South Korea
North America accounted for over 35% of global Vitrectomy Devices demand in 2021.
The European market for Vitrectomy Devices is projected to expand at a CAGR of around 8% from 2022 to 2032.
1. Executive Summary | Vitrectomy Devices Market
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Vitrectomy Devices
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ million)
3.1.4. Assessment by Key Countries
3.1.5. Assessment by Key Market Segments
3.1.6. Action Points and Recommendation for Suppliers
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
4. Market Background
4.1. Market, by Key Countries
4.2. Market Opportunity Assessment (US$ million)
4.2.1. Total Available Market
4.2.2. Serviceable Addressable Market
4.2.3. Serviceable Obtainable Market
4.3. Market Scenario Forecast
4.3.1. Demand in optimistic Scenario
4.3.2. Demand in Likely Scenario
4.3.3. Demand in Conservative Scenario
4.4. Investment Feasibility Analysis
4.4.1. Investment in Established Markets
4.4.1.1. In Short Term
4.4.1.2. In Long Term
4.4.2. Investment in Emerging Markets
4.4.2.1. In Short Term
4.4.2.2. In Long Term
4.5. Forecast Factors - Relevance & Impact
4.5.1. Top Companies Historical Growth
4.5.2. Growth in Automation, By Country
4.5.3. Patch Management Adoption Rate, By Country
4.6. Market Dynamics
4.6.1. Market Driving Factors and Impact Assessment
4.6.2. Prominent Market Challenges and Impact Assessment
4.6.3. Patch Management Market Opportunities
4.6.4. Prominent Trends in the Global Market & Their Impact Assessment
5. Key Success Factors
5.1. Manufacturers’ Focus on Low Penetration High Growth Markets
5.2. Banking on with Segments High Incremental Opportunity
5.3. Peer Benchmarking
6. Global Market Demand Analysis 2015 to 2021 and Forecast, 2022 to 2032
6.1. Historical Market Analysis, 2015 to 2021
6.2. Current and Future Market Projections, 2022 to 2032
6.3. Y-o-Y Growth Trend Analysis
7. Global Market Value Analysis 2015 to 2021 and Forecast, 2022 to 2032
7.1. Historical Market Value (US$ million) Analysis, 2015 to 2021
7.2. Current and Future Market Value (US$ million) Projections, 2022 to 2032
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Product Type
8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ million) Analysis By Product Type, 2015 to 2021
8.3. Current and Future Market Size (US$ million) Analysis and Forecast By Product Type, 2022 to 2032
8.3.1. Virectomy Machines
8.3.2. Virectomy Packs
8.3.3. Photocoagulation Lasers
8.3.4. Illumination Devices
8.4. Market Attractiveness Analysis By Product Type
9. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Application
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ million) Analysis By Application, 2015 to 2021
9.3. Current and Future Market Size (US$ million) Analysis and Forecast By Application, 2022 to 2032
9.3.1. Diabetic Retinopathy
9.3.2. Retinal Detachment
9.3.3. Macular Hole
9.3.4. Vitreous Hemorrhage
9.3.5. Other Applications
9.4. Market Attractiveness Analysis By Application
10. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By End-Use
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ million) Analysis By End-Use, 2015 to 2021
10.3. Current and Future Market Size (US$ million) Analysis and Forecast By End-Use, 2022 to 2032
10.3.1. Hospitals
10.3.2. Ophthalmic Clinics
10.3.3. Ambulatory surgical Centers
10.4. Market Attractiveness Analysis By End-Use
11. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Region
11.1. Introduction
11.2. Historical Market Size (US$ million) Analysis By Region, 2015 to 2021
11.3. Current Market Size (US$ million) & Analysis and Forecast By Region, 2022 to 2032
11.3.1. North America
11.3.2. Latin America
11.3.3. Europe
11.3.4. Asia Pacific
11.3.5. Middle East and Africa (MEA)
11.4. Market Attractiveness Analysis By Region
12. North America Market Analysis 2015 to 2021 and Forecast 2022 to 2032
12.1. Introduction
12.2. Pricing Analysis
12.3. Historical Market Size (US$ million) Trend Analysis By Market Taxonomy, 2015 to 2021
12.4. Market Size (US$ million) & Forecast By Market Taxonomy, 2022 to 2032
12.4.1. By Country
12.4.1.1. USA
12.4.1.2. Canada
12.4.1.3. Rest of North America
12.4.2. By Product Type
12.4.3. By End-Use
12.4.4. By Application
12.5. Market Attractiveness Analysis
12.5.1. By Country
12.5.2. By Product Type
12.5.3. By End-Use
12.5.4. By Application
13. Latin America Market Analysis 2015 to 2021 and Forecast 2022 to 2032
13.1. Introduction
13.2. Pricing Analysis
13.3. Historical Market Size (US$ million) Trend Analysis By Market Taxonomy, 2015 to 2021
13.4. Market Size (US$ million) & Forecast By Market Taxonomy, 2022 to 2032
13.4.1. By Country
13.4.1.1. Brazil
13.4.1.2. Mexico
13.4.1.3. Rest of Latin America
13.4.2. By Product Type
13.4.3. By End-Use
13.4.4. By Application
13.5. Market Attractiveness Analysis
13.5.1. By Country
13.5.2. By Product Type
13.5.3. By End-Use
13.5.4. By Application
14. Europe Market Analysis 2015 to 2021 and Forecast 2022 to 2032
14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Size (US$ million) Trend Analysis By Market Taxonomy, 2015 to 2021
14.4. Market Size (US$ million) & Forecast By Market Taxonomy, 2022 to 2032
14.4.1. By Country
14.4.1.1. Germany
14.4.1.2. France
14.4.1.3. United Kingdom
14.4.1.4. Italy
14.4.1.5. Benelux
14.4.1.6. Nordic Countries
14.4.1.7. Rest of Europe
14.4.2. By Product Type
14.4.3. By End-Use
14.4.4. By Application
14.5. Market Attractiveness Analysis
14.5.1. By Country
14.5.2. By Product Type
14.5.3. By End-Use
14.5.4. By Application
15. Asia Pacific Market Analysis 2015 to 2021 and Forecast 2022 to 2032
15.1. Introduction
15.2. Pricing Analysis
15.3. Historical Market Size (US$ million) Trend Analysis By Market Taxonomy, 2015 to 2021
15.4. Market Size (US$ million) & Forecast By Market Taxonomy, 2022 to 2032
15.4.1. By Country
15.4.1.1. China
15.4.1.2. Japan
15.4.1.3. South Korea
15.4.1.4. Rest of Asia Pacific
15.4.2. By Product Type
15.4.3. By End-Use
15.4.4. By Application
15.5. Market Attractiveness Analysis
15.5.1. By Country
15.5.2. By Product Type
15.5.3. By End-Use
15.5.4. By Application
16. Middle East and Africa Market Analysis 2015 to 2021 and Forecast 2022 to 2032
16.1. Introduction
16.2. Pricing Analysis
16.3. Historical Market Size (US$ million) Trend Analysis By Market Taxonomy, 2015 to 2021
16.4. Market Size (US$ million) & Forecast By Market Taxonomy, 2022 to 2032
16.4.1. By Country
16.4.1.1. GCC Countries
16.4.1.2. South Africa
16.4.1.3. Turkey
16.4.1.4. Rest of Middle East and Africa
16.4.2. By Product Type
16.4.3. By End-Use
16.4.4. By Application
16.5. Market Attractiveness Analysis
16.5.1. By Country
16.5.2. By Product Type
16.5.3. By End-Use
16.5.4. By Application
17. Key Countries Market Analysis 2015 to 2021 and Forecast 2022 to 2032
17.1. Introduction
17.1.1. Market Value Proportion Analysis, By Key Countries
17.1.2. Global Vs. Country Growth Comparison
17.2. US Market Analysis
17.2.1. Value Proportion Analysis by Market Taxonomy
17.2.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
17.2.2.1. By Product Type
17.2.2.2. By End-Use
17.2.2.3. By Application
17.3. Canada Market Analysis
17.3.1. Value Proportion Analysis by Market Taxonomy
17.3.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
17.3.2.1. By Product Type
17.3.2.2. By End-Use
17.3.2.3. By Application
17.4. Mexico Market Analysis
17.4.1. Value Proportion Analysis by Market Taxonomy
17.4.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
17.4.2.1. By Product Type
17.4.2.2. By End-Use
17.4.2.3. By Application
17.5. Brazil Market Analysis
17.5.1. Value Proportion Analysis by Market Taxonomy
17.5.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
17.5.2.1. By Product Type
17.5.2.2. By End-Use
17.5.2.3. By Application
17.6. Germany Market Analysis
17.6.1. Value Proportion Analysis by Market Taxonomy
17.6.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
17.6.2.1. By Product Type
17.6.2.2. By End-Use
17.6.2.3. By Application
17.7. France Market Analysis
17.7.1. Value Proportion Analysis by Market Taxonomy
17.7.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
17.7.2.1. By Product Type
17.7.2.2. By End-Use
17.7.2.3. By Application
17.8. Italy Market Analysis
17.8.1. Value Proportion Analysis by Market Taxonomy
17.8.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
17.8.2.1. By Product Type
17.8.2.2. By End-Use
17.8.2.3. By Application
17.9. BENELUX Market Analysis
17.9.1. Value Proportion Analysis by Market Taxonomy
17.9.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
17.9.2.1. By Product Type
17.9.2.2. By End-Use
17.9.2.3. By Application
17.10. United Kingdom Market Analysis
17.10.1. Value Proportion Analysis by Market Taxonomy
17.10.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
17.10.2.1. By Product Type
17.10.2.2. By End-Use
17.10.2.3. By Application
17.11. Nordic Countries Market Analysis
17.11.1. Value Proportion Analysis by Market Taxonomy
17.11.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
17.11.2.1. By Product Type
17.11.2.2. By End-Use
17.11.2.3. By Application
17.12. China Market Analysis
17.12.1. Value Proportion Analysis by Market Taxonomy
17.12.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
17.12.2.1. By Product Type
17.12.2.2. By End-Use
17.12.2.3. By Application
17.13. Japan Market Analysis
17.13.1. Value Proportion Analysis by Market Taxonomy
17.13.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
17.13.2.1. By Product Type
17.13.2.2. By End-Use
17.13.2.3. By Application
17.14. South Korea Market Analysis
17.14.1. Value Proportion Analysis by Market Taxonomy
17.14.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
17.14.2.1. By Product Type
17.14.2.2. By End-Use
17.14.2.3. By Application
17.15. GCC Countries Market Analysis
17.15.1. Value Proportion Analysis by Market Taxonomy
17.15.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
17.15.2.1. By Product Type
17.15.2.2. By End-Use
17.15.2.3. By Application
17.16. South Africa Market Analysis
17.16.1. Value Proportion Analysis by Market Taxonomy
17.16.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
17.16.2.1. By Product Type
17.16.2.2. By End-Use
17.16.2.3. By Application
17.17. Turkey Market Analysis
17.17.1. Value Proportion Analysis by Market Taxonomy
17.17.2. Value & Analysis and Forecast by Market Taxonomy, 2015 to 2032
17.17.2.1. By Product Type
17.17.2.2. By End-Use
17.17.2.3. By Application
17.17.3. Competition Landscape and Player Concentration in the Country
18. Market Structure Analysis
18.1. Market Analysis by Tier of Companies
18.2. Market Concentration
18.3. Market Share Analysis of Top Players
18.4. Market Presence Analysis
18.4.1. By Regional footprint of Players
18.4.2. Product footprint by Players
19. Competition Analysis
19.1. Competition Dashboard
19.2. Competition Benchmarking
19.3. Competition Deep Dive
19.3.1. Alcon Inc.
19.3.1.1. Overview
19.3.1.2. Product Portfolio
19.3.1.3. Sales Footprint
19.3.1.4. Strategy Overview
19.3.2. Bausch & Lomb Incorporated
19.3.2.1. Overview
19.3.2.2. Product Portfolio
19.3.2.3. Sales Footprint
19.3.2.4. Strategy Overview
19.3.3. BVI
19.3.3.1. Overview
19.3.3.2. Product Portfolio
19.3.3.3. Sales Footprint
19.3.3.4. Strategy Overview
19.3.4. NIDEK CO., LTD.
19.3.4.1. Overview
19.3.4.2. Product Portfolio
19.3.4.3. Sales Footprint
19.3.4.4. Strategy Overview
19.3.5. Johnson & Johnson Vision Care, Inc.
19.3.5.1. Overview
19.3.5.2. Product Portfolio
19.3.5.3. Sales Footprint
19.3.5.4. Strategy Overview
19.3.6. Blink Medical
19.3.6.1. Overview
19.3.6.2. Product Portfolio
19.3.6.3. Sales Footprint
19.3.6.4. Strategy Overview
19.3.7. Topcon Corporation
19.3.7.1. Overview
19.3.7.2. Product Portfolio
19.3.7.3. Sales Footprint
19.3.7.4. Strategy Overview
19.3.8. Carl Zeiss Meditec AG
19.3.8.1. Overview
19.3.8.2. Product Portfolio
19.3.8.3. Sales Footprint
19.3.8.4. Strategy Overview
19.3.9. Hoya Surgical Optics
19.3.9.1. Overview
19.3.9.2. Product Portfolio
19.3.9.3. Sales Footprint
19.3.9.4. Strategy Overview
20. Assumptions and Acronyms Used
21. Research Methodology
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Vitrectomy Devices Market
