Newly-released Vitrectomy Devices industry analysis report by Future Market Insights shows that global sales of Vitrectomy Devices in 2021 were held at USD 1.2 billion. With a CAGR of 7.3% from 2022 to 2032, the market is projected to reach a valuation of USD 2.6 billion by 2032. Vitrectomy Machines are expected to be the highest revenue-generating type, accounting for an absolute dollar opportunity of nearly USD 1.3 billion from 2022 to 2032.
| Attribute | Details |
|---|---|
| Global Vitrectomy Devices Market (2022) | USD 1.3 billion |
| Global Vitrectomy Devices Market (2032) | USD 2.6 billion |
| Global Vitrectomy Devices Market CAGR (2022 to 2032) | 7.3% |
| USA Vitrectomy Devices Market CAGR (2022 to 2032) | 7.1% |
| Key Companies Profiled | Alcon Inc.; Bausch & Lomb Incorporated; British Virgin Islands (BVI); NIDEK CO., LTD.; Johnson & Johnson Vision Care, Inc.; Blink Medical; Topcon Corporation; Carl Zeiss Meditec AG; Hoya Surgical Optics |
As per the Vitrectomy Devices industry research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the Vitrectomy Devices industry increased at around 6.5% CAGR, wherein, countries such as the USA, United Kingdom, China, South Korea, and Japan held a significant share in the global market. Owing to this, the Vitrectomy Devices market is projected to grow at a CAGR of 7.3% over the coming 10 years.
Vitrectomy aids in the removal of blood from the vitreous humour and the prevention of traction retinal detachment. This, in turn, helps to smooth the process of many other ophthalmic surgeries and prevents further retinal detachment during the procedure. Furthermore, vitrectomy aids in the restoration of vision loss caused by vitreous humour bleeding.
The increased frequency of retinal illness, as well as the causes for it, are expected to drive the market throughout the forecast period. Diabetes has a negative impact on eye health, causing eyesight loss through damaging the retina's blood vessels. Diabetic retinopathy affected 7.7 million Americans in 2018, according to the National Eye Institute. By 2030, this number is projected to rise to 11.3 million, thus propelling the market forward.
Hospital admissions for Rhegmatogenous Retinal Detachment (RRD) in the United Kingdom have been increasing since 2000. A substantial number of patients are admitted for RRD, according to HES Hospital Admitted Patient Care Activity statistics, increasing demand for pars plana vitrectomy surgeries.
As a result, market participants are demonstrating innovations in the retina domain at conferences in order to broaden its reach and adoption in order to fulfill rising demand. In July 2019, Alcon debuted their new HYPERVIT Dual Blade Vitrectomy Probe at the American Society of Retina Specialists’ annual meeting. During microincision vitrectomy surgery, this cutting-edge probe is designed to increase stability and balance.
Aside from the numerous benefits affiliated with vitrectomy surgical procedures and devices, the risks associated with the procedure are expected to pose a barrier to its widespread adoption. The risks of vitrectomy include eye infection, bleeding in the vitreous gel, retinal detachment, and high intraocular pressure. Furthermore, after a few years of vitrectomy, patients may develop cataracts or other eye problems.
The market in Asia Pacific is expected to register the highest CAGR of nearly 8% during the forecast period due to increased demand for Vitrectomy Devices in developing countries, especially Japan and China. This can be attributed to the increasing geriatric population in the region.
During the forecast period, the market in Asia Pacific will grow at the fastest rate of the presence of a large patient pool seeking ophthalmic care and the adoption of vitrectomy devices. Furthermore, the government's increasing emphasis on providing improved healthcare centers and proper patient care is further contributing to market growth.
In 2021, the United States held the largest market share, accounting for over 35% of total revenue. The rising prevalence of ocular ailments including diabetic retinopathy, retinal detachment, and the macular hole is likely to boost market expansion in the region.
Several companies in the country are seeking FDA approval in the United States for their products, allowing them to remain competitive in the market. Medical Instrument Development Facilities, Inc., for example, gained FDA 510 (k) clearance in July 2016 for the Bi-Blade Vitrectomy Cutter. Thus, the growing prevalence of such diseases caused a rise in the revenue share in the USA.
The market in the United Kingdom is projected to reach a valuation of USD 133 million by 2032. With a CAGR of 8%, the market is expected to gross an absolute dollar opportunity of USD 72 million from 2022 to 2032.
In Japan, the market is projected to reach a valuation of USD 122 million by 2032. Growing at a CAGR of 7.8%, the market is expected to garner an absolute dollar opportunity of USD 65 million.
The market in South Korea is projected to garner an absolute dollar opportunity of USD 18.5 million, growing at a CAGR of 5.3% from 2022 to 2032. By 2032, the market is likely to reach a valuation of USD 45 million.
In 2020, the vitrectomy machines segment dominated the market, accounting for 36.8% of the total revenue. The development of new generation machines with advanced features such as improved fluidics, high cut rates, small gauge size, and intraocular pressure control has contributed to the segment's growth. For example, Alcon's Constellation Vision System has fluidics that works for small-gauge surgery, overcoming previous machines' limitations.
During the forecast period, the vitrectomy packs segment is projected to expand at the fastest rate. This can be attributed to the increased use of these packs in a variety of indications, including vitreous removal from the retina, epiretinal membrane removal, collective procedures for retinal surgery, and posterior vitreous detachment.
Furthermore, the vitrectomy pack's additional benefits, such as portability, optical magnification, and fast response, are expected to propel the growth of vitrectomy devices. According to the CDC, diabetic retinopathy affects one-third of African-Americans and Mexican Americans over the age of 40. Furthermore, 4.2 million people have diabetic retinopathy, and 655,000 have vision-threatening diabetic retinopathy. As a result, the increasing incidence of diabetic retinopathy is expected to drive segment growth over the forecast period.
The key players operating in the vitrectomy devices market include Alcon Inc., Bausch & Lomb Incorporated, BVI, NIDEK CO., LTD., Johnson & Johnson Vision Care, Inc., Blink Medical, Topcon Corporation, Carl Zeiss Meditec AG, and Hoya Surgical Optics
Some of the recent developments of key Vitrectomy Devices providers are as follows:
Similarly, recent developments related to companies offering Vitrectomy Devices have been tracked by the team at Future Market Insights, which are available in the full report.
Table 1: Global Market Value (US$ million), By Product Type, 2015 to 2021
Table 2: Global Market Value (US$ million), By Product Type, 2022 to 2032
Table 3: Global Market Value (US$ million), By End-Use, 2015 to 2021
Table 4: Global Market Value (US$ million), By End-Use, 2022 to 2032
Table 5: Global Market Value (US$ million), By Application, 2015 to 2021
Table 6: Global Market Value (US$ million), By Application, 2022 to 2032
Table 7: Global Market, By Region, 2015 to 2021
Table 8: Global Market, By Region, 2022 to 2032
Table 9: North America Market Value (US$ million), By Product Type, 2015 to 2021
Table 10: North America Market Value (US$ million), By Product Type, 2022 to 2032
Table 11: North America Market Value (US$ million), By End-Use, 2015 to 2021
Table 12: North America Market Value (US$ million), By End-Use, 2022 to 2032
Table 13: North America Market Value (US$ million), By Application, 2015 to 2021
Table 14: North America Market Value (US$ million), By Application, 2022 to 2032
Table 15: North America Market, By Country, 2015 to 2021
Table 16: North America Market, By Country, 2022 to 2032
Table 17: Latin America Market Value (US$ million), By Product Type, 2015 to 2021
Table 18: Latin America Market Value (US$ million), By Product Type, 2022 to 2032
Table 19: Latin America Market Value (US$ million), By End-Use, 2015 to 2021
Table 20: Latin America Market Value (US$ million), By End-Use, 2022 to 2032
Table 21: Latin America Market Value (US$ million), By Application, 2015 to 2021
Table 22: Latin America Market Value (US$ million), By Application, 2022 to 2032
Table 23: Latin America Market, By Country, 2015 to 2021
Table 24: Latin America Market, By Country, 2022 to 2032
Table 25: Europe Market Value (US$ million), By Product Type, 2015 to 2021
Table 26: Europe Market Value (US$ million), By Product Type, 2022 to 2032
Table 27: Europe Market Value (US$ million), By End-Use, 2015 to 2021
Table 28: Europe Market Value (US$ million), By End-Use, 2022 to 2032
Table 29: Europe Market Value (US$ million), By Application, 2015 to 2021
Table 30: Europe Market Value (US$ million), By Application, 2022 to 2032
Table 31: Europe Market, By Country, 2015 to 2021
Table 32: Europe Market, By Country, 2022 to 2032
Table 33: Asia Pacific Market Value (US$ million), By Product Type, 2015 to 2021
Table 34: Asia Pacific Market Value (US$ million), By Product Type, 2022 to 2032
Table 35: Asia Pacific Market Value (US$ million), By End-Use, 2015 to 2021
Table 36: Asia Pacific Market Value (US$ million), By End-Use, 2022 to 2032
Table 37: Asia Pacific Market Value (US$ million), By Application, 2015 to 2021
Table 38: Asia Pacific Market Value (US$ million), By Application, 2022 to 2032
Table 39: Asia Pacific Market, By Country, 2015 to 2021
Table 40: Asia Pacific Market, By Country, 2022 to 2032
Table 41: MEA Market Value (US$ million), By Product Type, 2015 to 2021
Table 42: MEA Market Value (US$ million), By Product Type, 2022 to 2032
Table 43: MEA Market Value (US$ million), By End-Use, 2015 to 2021
Table 44: MEA Market Value (US$ million), By End-Use, 2022 to 2032
Table 45: MEA Market Value (US$ million), By Application, 2015 to 2021
Table 46: MEA Market Value (US$ million), By Application, 2022 to 2032
Table 47: MEA Market, By Country, 2015 to 2021
Table 48: MEA Market, By Country, 2022 to 2032
Table 49: Global Market Incremental $ Opportunity, By Product Type, 2015 to 2021
Table 50: Global Market Incremental $ Opportunity, By End-Use, 2022 to 2032
Table 51: Global Market Incremental $ Opportunity, By Application, 2015 to 2021
Table 52: Global Market Incremental $ Opportunity, By Region, 2022 to 2032
Table 53: North America Market Incremental $ Opportunity, By Product Type, 2015 to 2021
Table 54: North America Market Incremental $ Opportunity, By End-Use, 2022 to 2032
Table 55: North America Market Incremental $ Opportunity, By Application, 2015 to 2021
Table 56: North America Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 57: Latin America Market Incremental $ Opportunity, By Product Type, 2015 to 2021
Table 58: Latin America Market Incremental $ Opportunity, By End-Use, 2022 to 2032
Table 59: Latin America Market Incremental $ Opportunity, By Application, 2015 to 2021
Table 60: Latin America Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 61: Europe Market Incremental $ Opportunity, By Product Type, 2015 to 2021
Table 62: Europe Market Incremental $ Opportunity, By End-Use, 2022 to 2032
Table 63: Europe Market Incremental $ Opportunity, By Application, 2015 to 2021
Table 64: Europe Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 65: Asia Pacific Market Incremental $ Opportunity, By Product Type, 2015 to 2021
Table 66: Asia Pacific Market Incremental $ Opportunity, By End-Use, 2022 to 2032
Table 67: Asia Pacific Market Incremental $ Opportunity, By Application, 2015 to 2021
Table 68: Asia Pacific Market Incremental $ Opportunity, By Country, 2022 to 2032
Table 69: MEA Market Incremental $ Opportunity, By Product Type, 2015 to 2021
Table 70: MEA Market Incremental $ Opportunity, By End-Use, 2022 to 2032
Table 71: MEA Market Incremental $ Opportunity, By Application, 2015 to 2021
Table 72: MEA Market Incremental $ Opportunity, By Country, 2022 to 2032
Figure 1: Global Market Value (US$ million) and Year-on-Year Growth, 2015 to 2032
Figure 2: Global Market Absolute $ Historical Gain (2015 to 2021) and Opportunity (2022 to 2032), US$ million
Figure 3: Global Market Share, By Product Type, 2022 to 2032
Figure 4: Global Market Y-o-Y Growth Projections, By Product Type - 2022 to 2032
Figure 5: Global Market Attractiveness Index, By Product Type - 2022 to 2032
Figure 6: Global Market Share, By End-Use, 2022 to 2032
Figure 7: Global Market Y-o-Y Growth Projections, By End-Use - 2022 to 2032
Figure 8: Global Market Attractiveness Index, By End-Use - 2022 to 2032
Figure 9: Global Market Share, By Application, 2022 to 2032
Figure 10: Global Market Y-o-Y Growth Projections, By Application - 2022 to 2032
Figure 11: Global Market Attractiveness Index, By Application - 2022 to 2032
Figure 12: Global Market Share, By Region, 2022 to 2032
Figure 13: Global Market Y-o-Y Growth Projections, By Region - 2022 to 2032
Figure 14: Global Market Attractiveness Index, By Region - 2022 to 2032
Figure 15: North America Market Value (US$ million) and Year-on-Year Growth, 2015 to 2032
Figure 16: North America Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ million
Figure 17: North America Market Share, By Product Type, 2022 to 2032
Figure 18: North America Market Y-o-Y Growth Projections, By Product Type - 2022 to 2032
Figure 19: North America Market Attractiveness Index, By Product Type - 2022 to 2032
Figure 20: North America Market Share, By End-Use, 2022 to 2032
Figure 21: North America Market Y-o-Y Growth Projections, By End-Use - 2022 to 2032
Figure 22: North America Market Attractiveness Index, By End-Use - 2022 to 2032
Figure 23: North America Market Share, By Application, 2022 to 2032
Figure 24: North America Market Y-o-Y Growth Projections, By Application - 2022 to 2032
Figure 25: North America Market Attractiveness Index, By Application - 2022 to 2032
Figure 26: North America Market Share, By Country, 2022 to 2032
Figure 27: North America Market Y-o-Y Growth Projections, By Country - 2022 to 2032
Figure 28: North America Market Attractiveness Index, By Country - 2022 to 2032
Figure 29: Latin America Market Value (US$ million) and Year-on-Year Growth, 2015 to 2032
Figure 30: Latin America Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ million
Figure 31: Latin America Market Share, By Product Type, 2022 to 2032
Figure 32: Latin America Market Y-o-Y Growth Projections, By Product Type - 2022 to 2032
Figure 33: Latin America Market Attractiveness Index, By Product Type - 2022 to 2032
Figure 34: Latin America Market Share, By End-Use, 2022 to 2032
Figure 35: Latin America Market Y-o-Y Growth Projections, By End-Use - 2022 to 2032
Figure 36: Latin America Market Attractiveness Index, By End-Use - 2022 to 2032
Figure 37: Latin America Market Share, By Application, 2022 to 2032
Figure 38: Latin America Market Y-o-Y Growth Projections, By Application - 2022 to 2032
Figure 39: Latin America Market Attractiveness Index, By Application - 2022 to 2032
Figure 40: Latin America Market Share, By Country, 2022 to 2032
Figure 41: Latin America Market Y-o-Y Growth Projections, By Country - 2022 to 2032
Figure 42: Latin America Market Attractiveness Index, By Country - 2022 to 2032
Figure 43: Europe Market Value (US$ million) and Year-on-Year Growth, 2015 to 2032
Figure 44: Europe Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ million
Figure 45: Europe Market Share, By Product Type, 2022 to 2032
Figure 46: Europe Market Y-o-Y Growth Projections, By Product Type - 2022 to 2032
Figure 47: Europe Market Attractiveness Index, By Product Type - 2022 to 2032
Figure 48: Europe Market Share, By End-Use, 2022 to 2032
Figure 49: Europe Market Y-o-Y Growth Projections, By End-Use - 2022 to 2032
Figure 50: Europe Market Attractiveness Index, By End-Use - 2022 to 2032
Figure 51: Europe Market Share, By Application, 2022 to 2032
Figure 52: Europe Market Y-o-Y Growth Projections, By Application - 2022 to 2032
Figure 53: Europe Market Attractiveness Index, By Application - 2022 to 2032
Figure 54: Europe Market Share, By Country, 2022 to 2032
Figure 55: Europe Market Y-o-Y Growth Projections, By Country - 2022 to 2032
Figure 56: Europe Market Attractiveness Index, By Country - 2022 to 2032
Figure 57: MEA Market Value (US$ million) and Year-on-Year Growth, 2015 to 2032
Figure 58: MEA Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ million
Figure 59: MEA Market Share, By Product Type, 2022 to 2032
Figure 60: MEA Market Y-o-Y Growth Projections, By Product Type - 2022 to 2032
Figure 61: MEA Market Attractiveness Index, By Product Type - 2022 to 2032
Figure 62: MEA Market Share, By End-Use, 2022 to 2032
Figure 63: MEA Market Y-o-Y Growth Projections, By End-Use - 2022 to 2032
Figure 64: MEA Market Attractiveness Index, By End-Use - 2022 to 2032
Figure 65: MEA Market Share, By Application, 2022 to 2032
Figure 66: MEA Market Y-o-Y Growth Projections, By Application - 2022 to 2032
Figure 67: MEA Market Attractiveness Index, By Application - 2022 to 2032
Figure 68: MEA Market Share, By Country, 2022 to 2032
Figure 69: MEA Market Y-o-Y Growth Projections, By Country - 2022 to 2032
Figure 70: MEA Market Attractiveness Index, By Country - 2022 to 2032
Figure 71: Asia Pacific Market Value (US$ million) and Year-on-Year Growth, 2015 to 2032
Figure 72: Asia Pacific Market Absolute $ Opportunity Historical (2015 to 2021) and Forecast Period (2022 to 2032), US$ million
Figure 73: Asia Pacific Market Share, By Product Type, 2022 to 2032
Figure 74: Asia Pacific Market Y-o-Y Growth Projections, By Product Type - 2022 to 2032
Figure 75: Asia Pacific Market Attractiveness Index, By Product Type - 2022 to 2032
Figure 76: Asia Pacific Market Share, By End-Use, 2022 to 2032
Figure 77: Asia Pacific Market Y-o-Y Growth Projections, By End-Use - 2022 to 2032
Figure 78: Asia Pacific Market Attractiveness Index, By End-Use - 2022 to 2032
Figure 79: Asia Pacific Market Share, By Application, 2022 to 2032
Figure 80: Asia Pacific Market Y-o-Y Growth Projections, By Application - 2022 to 2032
Figure 81: Asia Pacific Market Attractiveness Index, By Application - 2022 to 2032
Figure 82: Asia Pacific Market Share, By Country, 2022 to 2032
Figure 83: Asia Pacific Market Y-o-Y Growth Projections, By Country - 2022 to 2032
Figure 84: Asia Pacific Market Attractiveness Index, By Country - 2022 to 2032
Figure 85: US Market Value (US$ million) and Forecast, 2022 to 2032
Figure 86: US Market Share, By Product Type, 2021
Figure 87: US Market Share, By End-Use, 2021
Figure 88: US Market Share, By Application, 2021
Figure 89: Canada Market Value (US$ million) and Forecast, 2022 to 2032
Figure 90: Canada Market Share, By Product Type, 2021
Figure 91: Canada Market Share, By End-Use, 2021
Figure 92: Canada Market Share, By Application, 2021
Figure 93: Brazil Market Value (US$ million) and Forecast, 2022 to 2032
Figure 94: Brazil Market Share, By Product Type, 2021
Figure 95: Brazil Market Share, By End-Use, 2021
Figure 96: Brazil Market Share, By Application, 2021
Figure 97: Mexico Market Value (US$ million) and Forecast, 2022 to 2032
Figure 98: Mexico Market Share, By Product Type, 2021
Figure 99: Mexico Market Share, By End-Use, 2021
Figure 100: Mexico Market Share, By Application, 2021
Figure 101: Germany Market Value (US$ million) and Forecast, 2022 to 2032
Figure 102: Germany Market Share, By Product Type, 2021
Figure 103: Germany Market Share, By End-Use, 2021
Figure 104: Germany Market Share, By Application, 2021
Figure 105: United Kingdom Market Value (US$ million) and Forecast, 2022 to 2032
Figure 106: United Kingdom Market Share, By Product Type, 2021
Figure 107: United Kingdom Market Share, By End-Use, 2021
Figure 108: United Kingdom Market Share, By Application, 2021
Figure 109: France Market Value (US$ million) and Forecast, 2022 to 2032
Figure 110: France Market Share, By Product Type, 2021
Figure 111: France Market Share, By End-Use, 2021
Figure 112: France Market Share, By Application, 2021
Figure 113: Italy Market Value (US$ million) and Forecast, 2022 to 2032
Figure 114: Italy Market Share, By Product Type, 2021
Figure 115: Italy Market Share, By End-Use, 2021
Figure 116: Italy Market Share, By Application, 2021
Figure 117: BENELUX Market Value (US$ million) and Forecast, 2022 to 2032
Figure 118: BENELUX Market Share, By Product Type, 2021
Figure 119: BENELUX Market Share, By End-Use, 2021
Figure 120: BENELUX Market Share, By Application, 2021
Figure 121: Nordic Countries Market Value (US$ million) and Forecast, 2022 to 2032
Figure 122: Nordic Countries Market Share, By Product Type, 2021
Figure 123: Nordic Countries Market Share, By End-Use, 2021
Figure 124: Nordic Countries Market Share, By Application, 2021
Figure 125: China Market Value (US$ million) and Forecast, 2022 to 2032
Figure 126: China Market Share, By Product Type, 2021
Figure 127: China Market Share, By End-Use, 2021
Figure 128: China Market Share, By Application, 2021
Figure 129: Japan Market Value (US$ million) and Forecast, 2022 to 2032
Figure 130: Japan Market Share, By Product Type, 2021
Figure 131: Japan Market Share, By End-Use, 2021
Figure 132: Japan Market Share, By Application, 2021
Figure 133: South Korea Market Value (US$ million) and Forecast, 2022 to 2032
Figure 134: South Korea Market Share, By Product Type, 2021
Figure 135: South Korea Market Share, By End-Use, 2021
Figure 136: South Korea Market Share, By Application, 2021
Figure 137: GCC Countries Market Value (US$ million) and Forecast, 2022 to 2032
Figure 138: GCC Countries Market Share, By Product Type, 2021
Figure 139: GCC Countries Market Share, By End-Use, 2021
Figure 140: GCC Countries Market Share, By Application, 2021
Figure 141: South Africa Market Value (US$ million) and Forecast, 2022 to 2032
Figure 142: South Africa Market Share, By Product Type, 2021
Figure 143: South Africa Market Share, By End-Use, 2021
Figure 144: South Africa Market Share, By Application, 2021
Figure 145: Turkey Market Value (US$ million) and Forecast, 2022 to 2032
Figure 146: Turkey Market Share, By Product Type, 2021
Figure 147: Turkey Market Share, By End-Use, 2021
Figure 148: Turkey Market Share, By Application, 2021
The global Vitrectomy Devices market is worth more than USD 1.2 billion at present.
The value of Vitrectomy Devices is projected to increase at a CAGR of around 7.3% from 2022 to 2032.
The value of Vitrectomy Devices increased at a CAGR of around 6.7% from 2017 to 2021.
Top five players of Vitrectomy Devices market include Alcon Inc., Bausch & Lomb Incorporated, BVI, NIDEK CO. LTD., Johnson & Johnson Vision Care Inc.
The top 5 countries driving demand for Vitrectomy Devices are the USA, United Kingdom, China, Japan, and South Korea
North America accounted for over 35% of global Vitrectomy Devices demand in 2021.
The European market for Vitrectomy Devices is projected to expand at a CAGR of around 8% from 2022 to 2032.
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