5 Key Insights On The Vitreoretinal Surgery Devices Market 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
As per The Business Research Company’s Vitreoretinal Surgery Devices Global Market Report 2023, the vitreoretinal surgery devices market is expected to show significant growth in the forecast period.
Key insights from the vitreoretinal surgery devices market forecast include:
- Market Size
The global vitreoretinal surgery devices market is expected to grow from $1.7 billion in 2022 to $1.99 billion in 2023 at a compound annual growth rate (CAGR) of 6%. The global vitreoretinal surgery devices market size is expected to reach $2.43 billion in 2027 at a CAGR of 5.2%.
- Major Driver
The increasing prevalence of eye disorders is projected to drive the growth of the vitreoretinal surgical device market in the future. According to the Centres for Disease Control and Prevention, a US-based federal agency, in December 2022, 12 million people aged 40 and older in the United States will have vision impairment, of which 1 million are blind, 3 million have it after having their vision corrected, and 8 million have it due to uncorrected refractive error. As a result, the growing prevalence of eye illnesses propels the vitreoretinal surgical device market.
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- Key Trend
Product innovation is a common trend in the vitreoretinal surgical device market. Companies in the vitreoretinal surgical device market are working on new product improvements to maintain their market position. For example, in June 2020, BVI, a US-based medical device maker, announced CryoTreq, the world’s first single-use handheld cryo-surgery equipment, increasing its vitreoretinal portfolio. This technology completely changes the way retinal tears and detachments are treated. This stand-alone cryosurgery tool requires no external connections to machinery, gas tanks or power and requires no service or maintenance.
- Largest Region
North America was the largest region in the vitreoretinal surgery devices market in 2022.
- Major Players
Major players in the food diagnostics market are Alcon Inc., Bausch & Lomb Inc., OCULUS Optikgerate Gmbh, MedOne Surgical Inc., Carl Zeiss Meditec AG, Peregrine Surgical Group Pvt. Ltd., D.O.R.C. Dutch Ophthalmic Research Center (International) B.V., Paragon Care Group Pvt. Ltd., Topcon Corporation, Geuder AG, IRIDEX Corporation, Ellex Medical Lasers, Erbe Elektromedizin, Design For Vision Inc., and BVI Medical Inc.
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Key Vitreoretinal Surgery Devices Market Segments
The global vitreoretinal surgery devices market is segmented –
1) By Product: Photocoagulation Lasers, Illumination Devices, Vitrectomy Machines, Vitrectomy Probes, Vitreoretinal Packs, Other Products
2) By Surgery: Anterior Vitreoretinal Surgery, Posterior Vitreoretinal Surgery
3) By Application: Diabetic Vitreous Hemorrhage, Retinal Detachment, Macular Hole, Other Applications
4) By End-Users: Hospitals, Specialty Clinics, Ambulatory Surgery Centers, Other End-Users
The Vitreoretinal Surgery Devices Global Market Report 2023 provides an in-depth analysis on the vitreoretinal surgery devices market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the vitreoretinal surgery devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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