Vitreoretinal Surgery Devices Market 2022-2028

Title:Global Vitreoretinal Surgery Devices Market Size, Share & Trends Analysis Report by Product Type (Perfluorocarbon Liquids, Endoillumination Instrument, Vitreoretinal Prefilled Silicone Oil Syringes, and Others), and by Surgery Type (Anterior Vitreoretinal Surgery, and Posterior Vitreoretinal Surgery) Forecast 2022-2028.

The global vitreoretinal surgery devices market is anticipated to grow at a significant CAGR of 5.2% during the forecast period. Vitreoretinal surgery devices are used for treating various eye diseases and infections. These surgery devices help in decreasing the treatment time and offer quality eye care to patients, along with offering more convenience for patients and ophthalmologists. Moreover, the rising penetration of smartphones, and electronic devices such as laptops, and PC/monitors, leads to a rise in eye-related problems such as refractive errors, amblyopic, strabismus, and cataract, which contributes to the growth of the market. According to American Community Survey (ACS), in 2019, 95% of the population aged between 3 to 18-years had home internet access, among them 88 percent had access through a computer, and 6 percent relied on a smartphone for internet access. Hence, rising usage time on screen devices, and benefits offered by the surgery devices fueled the growth of the global vitreoretinal surgery devices market.

Moreover, various benefits offered by surgery devices such as, the visualization system, which includes optical microscopes and digital system such as 3D head-up visualization, aids in improving the surgical time, safety and effectiveness.

The other major retina-associated disease is diabetic retinopathy whose prevalence is increasing at a large scale, owing to the rising number of diabetic patients across the world, which is expected to have a significant impact on the global vitreoretinal surgery devices market.

from 2010 to 2050, the number of Americans with diabetic retinopathy is expected to nearly double, from 7.7 million to 14.6 million, Hispanic Americans are expected to see the greatest increase in cases, rising more than three-fold from 1.2 million to 5.3 million.

The global vitreoretinal surgery devices market is segmented based on product type, and surgery type. Based on product type, the market is bifurcated into perfluorocarbon liquids, endoillumination instruments, vitreoretinal prefilled silicone oil syringes, and others. Based on surgery type, the market is sub-segmented into anterior vitreoretinal surgery and posterior vitreoretinal surgery. Based on product type, the vitreoretinal prefilled silicone oil syringes segment is expected to show significant growth over the forecast period. The growth is mainly attributed due to increasing demand for low viscosity and better quality products among the people who are suffering from retina problems. As these oil syringes replaces the natural fluid inside the eye and prevent further damage to the retina.

Geographically, the global vitreoretinal surgery devices market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The North American region shows a steady growth has witnessed significant growth during the forecast period, owing to the presence of robust healthcare infrastructure, and medicare, along with the rising number of age-related macular degeneration(AMD) is one of the major factors responsible for the growth of the market in the North American region. According to the National Eye Institute, due to the, the prevalence of advanced age-related macular degeneration (AMD) has grown to nearly 3 million in 2020, and nearly 200,000 new cases of AMD are diagnosed each year in North America.

The major companies serving the global vitreoretinal surgery devices market are Bausch + Lomb Corp., Glaukos Corp., Hoya Corp., Johnson & Johnson Vision Care Inc., STAAR Surgical Co., MEDA Co. Ltd., MedOne Surgical, Inc., Nidek Co., Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaboration, funding, and new product launches, to stay competitive in the market. For instance, in December 2021, Retina Consultants of America (RCA) added the Brown Retina Institute (BRI) as a partner. With the addition of BRI, RCA aims to expand the retina consultant of Texas (RCTX) presence and further enhance patient care in San Antonio. The companies are focused on developing novel therapies for irreversible blindness diseases prevailing in the US, including age-related macular degeneration, diabetic retinopathy, and other medical disorders of the retina.

Research Methodology

The market study of the global vitreoretinal surgery devices market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include:

• Financial reports of companies involved in the market.

• Whitepapers, research papers, and news blogs.

• Company websites and their product catalog.

The report provides an in-depth analysis of the market size, and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

• Global Vitreoretinal Surgery Devices Market Research and Analysis by Product Type.
• Global Vitreoretinal Surgery Devices Market Research and Analysis by Surgery Type.

The Report Covers:

• Comprehensive research methodology of the global vitreoretinal surgery devices market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global vitreoretinal surgery devices market.
• Insights about market determinants that are stimulating the global vitreoretinal surgery devices market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.