January 23, 2020
According to the research report titled ‘Vitreoretinal Surgery Devices Market Size By Product (Photocoagulation Lasers, Illumination Devices, Vitreoretinal Packs, Vitrectomy Machines, Vitrectomy Probes), By End-use (Hospitals, Specialty Clinics, Ambulatory Surgery Centers), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, Japan, India, Australia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE), Application Potential, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, the global vitreoretinal surgery devices market is expected to cross USD 1.9 billion by the year 2025.
According to the report, increasing pervasiveness of macular degenerations in elderly population is a major factor driving the vitreoretinal surgery devices market growth. Availability of minimally invasive treatment procedures along with rising prevalence of eye-related disorders are boosting the demand for vitreoretinal surgery devices across the globe. Moreover, high occurrence rates of diabetes and diabetic retinopathy in middle class population are further aiding the expansion of the market.
Increasing awareness and favorable government initiatives pertaining to availability of ophthalmic devices such as vitreoretinal packs and vitrectomy probes are stimulating the industry outlook. However, vitreoretinal surgery can lead to macular edema, eye inflammation and light sensitivity. This factor coupled with high costs and unfavorable reimbursement policies for ophthalmic surgeries may hinder the market growth. Additionally, low accessibility and lack of awareness regarding vitreoretinal devices in developing nations will inhibit the growth of the market.
As per product type, the report states that vitreoretinal packs market segment is expected to register substantial growth during the forecast period. Factors such as growing geriatric population and rising number of vitreoretinal surgeries are contributing towards the popularity of the product across the globe. Rising adoption of vitreoretinal packs in various applications in consort with increasing awareness pertaining to advantages of vitreoretinal packs are facilitating the business scenario.
Citing the end-use landscape, hospitals segment is presumed to expand significantly in vitreoretinal surgery devices market during the estimated timeframe. Increasing applications of vitreoretinal devices for treatment of epiretinal membrane, retinal detachment, and macular hole are fueling the segmental growth.
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As per the regional analysis, the report cites that the U.S. vitreoretinal surgery devices industry is poised to amass commendable gains in the ensuing years, primarily driven by rising prevalence of various eye-related disorders across the country. Additionally, rising adoption and increasing awareness regarding vitreoretinal devices are propelling the market growth. On the other hand, India vitreoretinal surgery devices industry will also witness considerable growth in the forthcoming years. Factors such as favorable government initiatives, high presence of potential consumers, and rising consciousness are key factors driving the growth of India vitreoretinal surgery devices industry.
The prominent companies operating in the vitreoretinal surgery devices market are D.O.R.C. Dutch Ophthalmic Research Center (International) B.V., Peregrine Surgical, Designs for Visions Inc., Carl Zeiss Meditec AG, MedOne Surgical Inc., OCULUS Optikgeräte GmbH, Bausch & Lomb Inc., and Alcon Inc.
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