Vitreoretinal Surgery Devices Market - Growth, Trends, and Forecasts (2023 - 2028)

Vitreoretinal Surgery Devices Market - Growth, Trends, and Forecasts (2023 - 2028)

The vitreoretinal surgery devices market is projected to register a CAGR of nearly 6.6% over the forecast period.

The COVID-19 pandemic is an unprecedented health concern and adversely affects various surgical procedures. Due to regulatory authorities' strict guidance to prevent any non-emergent surgeries, the volume of surgeries has drastically decreased throughout the pandemic. For instance, as per the research study published by the National Library of Medicine, in July 2021, due to the lockdown, about 62.82% of patients who were on scheduled clinic visits and/or intravitreal injection treatment during the three months before the quarantine period did not visit the clinic for treatment, which led to a significant decline in the mean number of the treatment for neovascular age-related macular degeneration (nAMD). Thus, COVID-19 had an impact on the studied market. However, with the decreasing number of COVID-19 cases and wide-scale vaccination programs, the studied market is expected to regain its pre-COVID-19 level potential over the coming years.

The increasing incidence of eye disorders such as macular degeneration, diabetic retinopathy, and macular holes and the increasing geriatric population is attributed to driving the growth of the studied market over the forecast period. For instance, according to the research study published in May 2021 by National Library of Medicine, diabetic retinopathy remained a common complication of diabetes mellitus and a leading cause of preventable blindness in the adult working population. Among the people with diabetes mellitus, the prevalence of diabetic retinopathy was 22.27%, 6.17% for vision-threatening diabetes mellitus (VTDR), and 4.07% for clinically significant macular edema (CSME).

Many eye disorders are age-associated, like macular degeneration. With the growing global geriatric population, the burden of eye diseases is expected to increase, which is likely to augment the growth of the studied market. For instance, according to World Population Aging Highlight United Nations 2022, in 2022, there were 771 million people aged 65 years or over globally. The older population is projected to reach 994 million by 2030 and 1.6 billion by 2050. As a result, by 2050 there will be more than twice as many persons aged 65 or older than children under 5 globally, The number of persons aged 65 years or over globally will be almost equal to those with 12 years of age.

The companies are actively involved in new product launch developments and collaborations to expand their footprint. For instance, in January 2021, DORC received Health Canada approval of TissueBlue for Staining of the ILM During Vitreoretinal Surgery. TissueBlue is the first dye approved by Health Canada for use as an aid in ophthalmic surgery by selectively staining the internal limiting membrane (ILM) . Such development is expected to drive the growth of the market over the forecast period.

Hence, owing to the factors such as increasing incidence of eye disorders such as macular degeneration, diabetic retinopathy, and macular holes and the increasing geriatric population , the vitreoretinal surgery devices market is expected to grow over the forecast period. However, the side effects of the procedures are expected to restrain the growth of the market during the forecast period.

Pars plana vitrectomy (PPV) is a commonly employed technique in vitreoretinal surgery that enables access to the posterior segment for treating conditions such as retinal detachments, vitreous hemorrhage, endophthalmitis, and macular holes in a controlled, closed system. The high prevalence of diseases/disorders associated with the posterior segment of the eye, such as macular degeneration and posterior vitreous detachment, is driving the demand for posterior vitrectomy (surgical procedures used to treat diseases associated with retina and vitreous), which is expected to have a significant impact on the growth of posterior vitreoretinal surgery segment. For instance, according to a report published by BrightFocus Foundation, in December 2022, nearly 20 million people in the United States are living with some form of age-related macular degeneration. The number of people living with macular degeneration is expected to reach 288 million worldwide by 2040. Age is a prominent risk factor for age-related macular degeneration. The risk of getting advanced age-related macular degeneration increases from 2% for those ages 50-59, to nearly 30% for those over the age of 75. Thus, the high prevalence of macular degeneration is expected to drive segmental growth.

Additionally, according to an article published by WebMD in July 2021, the annual incidence of retinal detachment is approximately one in 10,000 or about 1 in 300 over a lifetime. Hence, the posterior vitreoretinal surgery segment is expected to have a major share of the vitreoretinal surgery devices market.

Therefore, due to the factors such as the high prevalence of diseases/disorders associated with the posterior segment of the eye, such as macular degeneration and posterior vitreous detachment, the posterior vitreoretinal surgery segment is expected to have a significant market share over the forecast period.

North America dominates the vitreoretinal surgery devices market and is expected to show a similar trend over the forecast period, owing to the high prevalence and burden of eye diseases in the region and the increasing geriatric population in the region. For instance, the report published in December 2022 in Macular Degeneration Fact Sheets stated that advanced age-related macular degeneration (AMD) is a leading cause of irreversible blindness and visual impairment and nearly 20 million people in the United States are living with some form of age-related macular degeneration. The number of people living with macular degeneration is expected to reach 288 million worldwide by 2040.

The companies are actively involved in product launch developments, innovation, partnerships, and collaborations to expand their footprint. For instance, in November 2022, Harrow partnered with iOR Partners for the expansion of their national product supply agreement to provide Harrow’s entire formulary compounded ophthalmic products to iOR Partners’ expanding office-based surgery locations across the United States. Such development is expected to drive the growth of the market over the forecast period.

Therefore, the factors such as the high prevalence and burden of eye diseases in the region and the increasing geriatric population are expected to drive market growth in the region during the forecast period.

The vitreoretinal surgery devices market is moderate in nature due to the presence of companies operating globally as well as regionally. The competitive landscape includes analysis of companies based on product launches, acquisitions, collaboration, and agreements that hold the market shares and are well known including Dutch Ophthalmic Research Center International BV, Bausch & Lomb Inc., OCULUS Optikgeräte GmbH, and MedOne Surgical Inc.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support