Vitrectomy Devices Market Size, Share Global Analysis Report, 2022 – 2028

Industry Insights

[223+ Pages Report] According to the report published by Facts Factors, the global vitrectomy devices market size was worth around USD 1037 million in 2021 and is predicted to grow to around USD 1989 million by 2028 with a compound annual growth rate (CAGR) of roughly 6.45% between 2022 and 2028. The report analyzes the global vitrectomy devices market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the vitrectomy devices market.

Market Overview

Vitrectomy is the surgical procedure involving the removal of vitreous humor which is the clear gel component of the vitreous body found between the retina and the lens of the eyeball in humans along with other vertebrates. It can be found when there are occurrences of vitreous detachment, a medical condition leading to the separation of the retina and vitreous membrane. Anterior vitrectomy is the process of removal of the vitreous humor in small portions of the front of the eyes since they are generally tangled in other structures like intraocular lenses. Vitrectomy devices are all the medical equipment to conduct this extremely sensitive operation. Before conducting the procedure, the medical professional may choose amongst different types of anesthesia involving topical, local, general, or intracameral anesthesia with each type reflecting certain advantages and disadvantages, depending on the medical requirement along with patient and doctor preference. Vitrectomy devices consist of a huge list of accurately created medical equipment that has to be constantly sterilized like other medical devices.

Key Insights

• As per the analysis shared by our research analyst, the global vitrectomy devices market is estimated to grow annually at a CAGR of around 6.45% over the forecast period (2022-2028)
• In terms of revenue, the global vitrectomy devices market size was valued at around USD 1037 million in 2021 and is projected to reach USD 1989 million, by 2028
• Due to a variety of driving factors, the market is predicted to rise at a significant rate
• Based on application segmentation, the macular hole was predicted to show maximum market share in the year 2021
• Based on end-user segmentation, ophthalmic clinics were the leading end-users in 2021.
• On the basis of region, North America was the leading revenue generator in 2021

Covid-19 Impact:

The global market cap seems to have been positively influenced due to the after-effects of the virus. Following a study of over 30,000 patients, it was concluded that the cases of post-vitrectomy endophthalmitis had increased by 01.% from 0.11% to 0.21% during the pandemic. The unpredictable nature of the virus resulting in different side effects on infected individuals was the leading cause of growth in the global market size during Covid-19.

Growth Drivers

• Increasing cataract cases to propel market demand

The global vitrectomy devices market is projected to witness massive demand in the coming years driven by the increasing number of cataract cases, which is one of the leading causes of posterior vitreous detachment, causing the patient to undergo vitrectomy to prevent any further medical concerns. A study published on the National Library of Medicine website has quoted that India alone has over 3.8 million people who suffer from cataract-induced blindness every year. The number is expected to be around 5 million if considering the global scale. One of the major causes of cataracts is age-related, which may start developing from 40 to 50 years of age. Recent research concludes that people residing at higher altitudes may also be more prone to contracting the disease to high sun exposure. The symptoms associated with the disease include sensitivity to glare and light, vision-related difficulty during nighttime, and double vision in a single eye amongst others.

Restraints

• Concerns over infection to restrict the market growth

The global market cap may witness restricted growth owing to the occurrence of incidents like high pressure in the eye postoperative, excess bleeding, or infection in case of even the slightest ignorance while conducting the operations. Such incidents, even though rare, are known to have occurred in many countries which could result in people opting out of the procedure for more non-invasive methods.

Opportunities

• Technological advancements to open up more growth opportunities

The global vitrectomy market cap is expected to explore more growth opportunities driven by the increasing adoption of advanced technologies in vitrectomy devices and procedures. For instance, as reported by multiple sources, one of the latest vitrectomy devices Bausch and Lamb developed a hypersonic probe, which uses hypersonic vibrations reaching up to 1.7 million in one minute to liquefy adjacent vitreous. A future-oriented approach to developing equipment that is effective and without any associated risks is expected to attract more consumers in the global market.

Challenges

• Lack of facilities in under-developed economies to pose a major market challenge

In remote areas, especially in poor economies where medical infrastructure is below standard, there is a huge gap between the need and the availability of skilled medical professionals who can carry out effective vitrectomy which further translates into a poor adoption rate in the global market. World leaders should focus on upgrading the health architecture of such areas as they possess excellent expansion opportunities.

Segmentation Analysis

The global vitrectomy devices market is segmented based on application, product, end-user, and region

Based on application, the global market is segmented into macular hole, retinal detachment, diabetic retinopathy, and vitreous hemorrhage with macular hole generating the highest revenue rate in 2021. It is a hole opening in the area called the macula at the center of the retina. The condition is age-driven and can be treated with vitrectomy. It can often affect the population in the age range of 60 to 80 years.

Based on product, the global market divisions are photocoagulation lasers, vitrectomy packs, vitrectomy machines, and illumination devices. The global market may witness the highest CAGR in the vitrectomy machines segment that are equipped with systems like intraocular pressure, high cut rates, small gauze size, and improvised fluidics. The cost of the machine in the United Kingdom is USD 5300 and in the US it is around US 3500 to US 4000.

By end-user, the global market divisions are ophthalmic clinics, ambulatory surgery centers, and hospitals, with ophthalmic clinics leading the global market revenue. As per IBISWorld, there are more than 1028 eye clinics in the US as of 2022.

Recent Developments:

• In July 2019, Alcon, an American-Swiss medical company specializing in eye care, launched the new HYPERVIT®Dual Blade Vitrectomy Probe, next-generation ULTRAVIT®probes along with the addition of CONSTELLATION®Vision System, a revolutionary technology. This was showcased at the annual meeting of the American Society of Retina Specialists (ASRS)
• In October 2021, Bausch + Lomb, a US-based health products company, announced the launch of the Biotrue Eye Care Recycling program, the only and one-of-its-kind recycling program in the US. The program will allow the customers to recycle products like lens solution caps, lens cases, and eye drop single dose units

Report Scope

Regional Analysis

• North America to lead the market revenue in the coming years

The global vitrectomy devices market is projected to be dominated by North America in the coming years owing to the presence of multiple manufacturers of this medical equipment with international and domestic presence. The US may contribute the highest revenue in the regional market due to product innovation, and increasing research & development activities toward upgrading the current healthcare infrastructure. In 2019, the country's R & D sector recorded a growth of USD 62 billion and reached a value of USD 667 billion which was predicted to cross over USD 705 billion in 2020 as reported by the National Center for Science and Engineering Statistics. Europe may witness high CAGR due to the growing geriatric population which is highly prone to eyesight-related medical conditions with growing age.

Competitive Analysis

• Bausch & Lomb Incorporated 
• Johnson & Johnson Vision Care Inc 
• Carl Zeiss Meditec AG 
• Alcon Inc. Hoya Surgical Optics 
• Blink Medical.

The global vitrectomy devices market is segmented as follows:

By Application

• Macular Hole
• Retinal Detachment
• Diabetic Retinopathy
• Vitreous Hemorrhage

By Product

• Photocoagulation Lasers
• Vitrectomy Packs
• Vitrectomy Machines
• Illumination Devices

By End-User

• Ophthalmic Clinics
• Ambulatory Surgery Centers
• Hospitals

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America