Global Vitreoretinal Surgery Devices Market 2023

Global Vitreoretinal Surgery Devices Market 2023

Description
The Vitreoretinal Surgery Devices Market is anticipated to witness substantial growth, with a projected increase from USD 1.49 billion in 2022 to USD 1.85 billion by 2029. This growth is expected to be driven by a compound annual growth rate (CAGR) of 3.0% during the forecast period of 2023-2029. Vitreoretinal surgery devices play a crucial role in the treatment of various eye diseases, including macular degeneration, retinal detachment, uveitis, vitreous hemorrhage, macular hole, epiretinal membrane, and complications related to diabetic retinopathy. These devices enable surgeons to perform delicate procedures within the vitreous and retina, restoring or preserving vision for patients.

The increasing incidence of eye disorders, particularly among the elderly population, is a key driver for the growth of the vitreoretinal surgery devices market. With the aging population, the prevalence of age-related eye diseases such as macular degeneration and diabetic retinopathy is expected to rise, creating a greater demand for effective treatment options.

Furthermore, the rising geriatric population is expected to contribute to the burden of eye diseases, further driving the market growth. As the elderly population continues to grow, there is a greater need for advanced vitreoretinal surgery devices to address the specific challenges and complexities associated with age-related eye conditions.

In response to the growing demand, companies operating in the vitreoretinal surgery devices market are actively launching new products and forming collaborations to expand their market presence. These initiatives aim to enhance the surgical outcomes, improve patient experience, and address the evolving needs of ophthalmic surgeons.

Market Segmentation
The market is segmented based on various factors, including product type, surgery type, and geography.

Segmentation by Product Type
Perfluoro Carbon Liquids
Endoillumination Instruments
Vitreoretinal Prefilled Silicone Oil Syringes
Virectomy System
Others

Segmentation by Surgery Type
Anterior Vitreoretinal Surgery
Posterior Vitreoretinal Surgery

Segmentation by Geography
North America - United States, Canada, Mexico
Europe - United Kingdom, Germany, France, Italy, Spain, and Rest of Europe
Asia-Pacific - China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific
Latin America - Brazil, Argentina, and Rest of Latin America
Middle East and Africa - GCC, South Africa, and Rest of Middle East and Africa

Pars plana vitrectomy (PPV) is a widely used technique in vitreoretinal surgery, providing access to the posterior segment of the eye for treating conditions like retinal detachments, vitreous hemorrhage, endophthalmitis, and macular holes. This closed, controlled procedure ensures precise and effective treatment. The demand for posterior vitrectomy, which addresses diseases of the retina and vitreous, is driven by the high prevalence of conditions like diabetic retinopathy and posterior vitreous detachment. Consequently, the growth of the posterior vitreoretinal surgery segment is expected to be influenced significantly by these factors, resulting in a substantial market share throughout the forecast period.

North America is expected to have a significant share in the vitreoretinal surgery devices market, driven by the region's high prevalence of eye diseases and increasing geriatric population. The rising elderly population contributes to market growth, as vitreoretinal surgeries are commonly recommended for age-related eye disorders. Companies in this market are actively launching products and forming partnerships to expand their presence. The high prevalence of eye diseases, along with the growing geriatric population, drives market growth. The posterior vitreoretinal surgery segment holds a substantial market share, and North America is a prominent region in terms of market size. Ongoing advancements and collaborations further contribute to market expansion.

Competitive Landscape
The Vitreoretinal Surgery Devices Market is moderately competitive, with global and regional companies. The competitive landscape involves analyzing companies based on factors like product launches, acquisitions, collaborations, and agreements. Notable companies include Alcon AG, Bausch & Lomb Incorporated, D.O.R.C. Dutch Ophthalmic Research Center (International) B.V., Geuder AG, MedOne Surgical, Inc., OCULUS Optikgerate GmbH, among others.

Recent Industry Developments
Moria, a French company, successfully acquired AlchimiaSRL, an Italian company, in July 2022. AlchimiaSRL specializes in manufacturing devices for ophthalmic surgery and human tissue banking. This strategic acquisition will enhance Moria's existing range of products for vitreoretinal surgery and keratoplasty.

In May 2022, D.O.R.C. Dutch Ophthalmic Research Center (International) obtained 510(k) premarket approval from the United States Food and Drug Administration (FDA) for their EVA NEXUS Ophthalmic Surgical System. This advanced system is designed for precise subretinal microinjection of gases or aqueous fluids in vitreoretinal ophthalmic surgery.

Why Choose This Report
Gain a reliable outlook of the global vitreoretinal surgery devices market forecasts from 2023 to 2029 across scenarios.
Identify growth segments for investment.
Stay ahead of competitors through company profiles and market data.
The market estimate for ease of analysis across scenarios in Excel format.
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