Vitreoretinal Surgery Devices Market By Product (Perfluorocarbon Liquids, Endoillumination Instrument, Vitreoretinal Prefilled Silicone Oil Syringes, Vitrectomy System, Other) , By Surgery Type (Anterior Vitreoretinal Surgery, Posterior Vitreoretinal Surgery) By End User (Hospitals, Specialty Clinics, Ambulatory Surgery Centers) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Vitreoretinal Surgery Devices
The vitreoretinal surgery devices market was valued at $2.3 billion in 2023 and is projected to reach $4.1 billion by 2033, growing at a CAGR of 5.9% from 2024 to 2033.
Vitreoretinal surgery devices are the specialized equipment essential to perform ophthalmic surgeries focused on retina and vitreous humor of eyes. Diverse retinal conditions such as macular holes, retinal detachments, diabetic retinopathy, and epiretinal membranes are treated using these devices for the repair & restoration of the normal anatomy and function of the eyes. Innovations in devices allow surgeries to be performed with minimal invasion, hence lowering the recovery times and improving patient outcomes.
Increase in the prevalence of eye surgeries, particularly among the old generation, is a key driver of the vitreoretinal surgery devices market. In addition, rise in expenditure by the government toward healthcare facilities has led to advancements in the vitreoretinal surgery devices, which is boosting their adoption in the healthcare settings. Currently, the integration of robotics technology into surgery devices is an emerging trend in the market. The technology exceeds human skills in such complex surgeries, reducing the possibility of errors and enhancing the precision. The researchers aim to create smart surgery procedures by the assimilation of robotics and AI.
However, the high upfront costs of procuring the vitreoretinal surgery devices, along with their maintenance requirements deters various small-scale healthcare facilities from investing in them. This restrains the market growth in various developing and underserved regions. Contrarily, the constantly rising numbers of eye conditions are projected to boost the adoption of vitreoretinal surgery devices in the future. According to a factsheet released by Bright Focus Foundation on October 2022, approximately 11 million individuals in the U.S. suffer from some form of age-related macular degeneration. The foundation anticipates the number to double to nearly 22 million by 2050, hence compelling the use of the devices for treatment.
Segment ReviewThe vitreoretinal surgery devices market is segmented into product, surgery type, end user, and region. On the basis of product, the market is divided into perfluorocarbon liquids, endoillumination instrument, vitreoretinal prefilled silicone oil syringes, vitrectomy system, and other. Depending on surgery type, the market is bifurcated into anterior vitreoretinal surgery and posterior vitreoretinal surgery. As per end user, it is categorized into hospitals, specialty clinics, and ambulatory surgery centers. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of product, the vitrectomy system segment dominated the market in 2023.
Depending on surgery type, the anterior vitreoretinal surgery segment acquired a high stake at the market in 2023.
As per end user, the hospitals segment accounted for a high market share in 2023.
Region wise, North America was the highest revenue generator in 2023.
Competition AnalysisThe leading players operating in the global vitreoretinal surgery devices market include Bausch & Lomb, Novartis AG, Inami & Co, Paragon Care Group Pty Ltd, Oculus Inc, MedOne Surgical, Inc, Carl Zeiss Meditec AG, Peregrine Surgical, Johnson & Johnson, and Blink Medical. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
Key Market SegmentsBy ProductPerfluorocarbon Liquids
Endoillumination Instrument
Vitreoretinal Prefilled Silicone Oil Syringes
Vitrectomy System
Other
By Surgery TypeAnterior Vitreoretinal Surgery
Posterior Vitreoretinal Surgery
By End UserHospitals
Specialty Clinics
Ambulatory Surgery Centers
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Bausch & Lomb
Novartis AG
Inami & Co
Paragon Care Group Pty Ltd
Oculus Inc
MedOne Surgical, Inc
Carl Zeiss Meditec AG
Peregrine Surgical
Johnson & Johnson
Blink Medical