Vitreoretinal Surgery Devices Market
Number of pages: 100 | Report Format: PDF | Published date: June 07, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 1.17 billion |
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Revenue Forecast in 2031 |
US$ 2.14 billion |
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CAGR |
6.9% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Product Type, Surgery Type, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global vitreoretinal surgery devices market was valued at US$ 1.17 billion in 2022 and is expected to register a revenue CAGR of 6.9% to reach US$ 2.14 billion by 2031.
Vitreoretinal Surgery Devices Market Fundamentals
Vitreoretinal surgery devices are specialized instruments and equipment used in ophthalmic surgery to treat various disorders of the retina and vitreous humor. These devices are designed to aid surgeons in performing delicate procedures within the eye, such as repairing retinal detachments, removing scar tissue, treating macular holes, and addressing other conditions affecting the vitreous or retina. The vitreoretinal surgery devices include vitrectomy machines, vitrectomy probes, illumination systems, laser photocoagulation systems, endo-illumination probes, retinal detachment instruments, and intraocular lenses (IOLs).
Vitreoretinal Surgery Devices Market Dynamics
The rising prevalence of retinal disorders, such as age-related macular degeneration, diabetic retinopathy, and retinal detachment, is a significant driver for the vitreoretinal surgery devices market. For instance, according to 2020 report by ‘NIH’ report, it was recorded that nearly males scored 49.94%, while females scored 54.28% were suffering from retinal disorders. Similarly, approximately 53.22% of individuals working in agriculture had a retinal condition, compared to 50.10% of those working in other occupations. Illiterates had 53.17% more retinal diseases than literates (49.65%). As the aging population grows and the incidence of chronic diseases like diabetes increases, the demand for vitreoretinal surgeries and related devices is expected to rise. Advances in surgical techniques and technologies have improved the safety and efficacy of vitreoretinal surgeries. Innovative devices, such as minimally invasive surgical tools, high-definition visualization systems, and surgical navigation systems, have further enabled more precise and efficient procedures. These advancements attract surgeons and healthcare facilities to adopt new devices, driving the market growth.
Additionally, the demand for vitreoretinal surgeries is increasing due to the expanding patient pool, improved diagnosis and screening methods, and the desire for better visual outcomes. For instance, according to a 2022 report by the CDC estimates that 4.1 million Americans were affected with diabetic retinopathy, and around 900,000 Americans was threatened with vision-damaging retinopathy. As the patients are seeking treatment for retinal disorders that may otherwise lead to vision loss or impairment. According to 2022 report by WHO, it was found that nearly 1 billion people suffered with moderate or severe distance vision impairment or blindness due to unaddressed refractive error (88.4 million), cataract (94 million), age-related macular degeneration (8 million), glaucoma (7.7 million), diabetic retinopathy (3.9 million). This demand stimulates the adoption of vitreoretinal surgery devices.
Moreover, increasing healthcare expenditure, particularly in developing regions, is playing a crucial role in driving the growth of the vitreoretinal surgery devices market. As countries invest more in their healthcare infrastructure and resources, there is greater access to advanced surgical procedures and devices, including those used in vitreoretinal surgeries. Also, improved reimbursement policies for these procedures encourage healthcare providers and patients to choose appropriate surgical interventions, leading to increased adoption of vitreoretinal surgery devices. In addition, increased awareness about retinal disorders and the availability of advanced treatment options contribute to the demand for vitreoretinal surgeries.
However, the high cost of devices can limit their adoption, particularly in resource-constrained healthcare settings or regions with limited reimbursement coverage. The affordability and accessibility of these devices pose challenges to their widespread use. Moreover, there is a shortage of experienced vitreoretinal surgeons, particularly in certain geographic regions. The lack of skilled surgeons limits the adoption of these surgeries and the corresponding use of vitreoretinal surgery devices. Furthermore, access to vitreoretinal surgery devices may be limited in developing regions due to factors such as inadequate healthcare infrastructure, limited resources, and low awareness about retinal disorders and their treatment options. Addressing these barriers and increasing access to devices in underserved areas remains a challenge. Some retinal disorders can be managed or treated using alternative approaches, such as pharmacological therapies or laser treatments. These non-surgical treatments may offer less invasive options for certain conditions, potentially reducing the demand for vitreoretinal surgeries and associated devices. Inadequate reimbursement coverage or limited reimbursement rates for vitreoretinal surgeries and devices can hinder the market growth. Healthcare systems and insurance providers may have limitations on reimbursement, impacting the affordability of these procedures and the adoption of related devices.
Vitreoretinal Surgery Devices Market Ecosystem
The global vitreoretinal surgery devices market has been analyzed from the following perspectives: by product type, surgery type, end user, and region.
Vitreoretinal Surgery Devices Market by Product Type
Based on the product type, the global vitreoretinal surgery devices market is segmented into vitrectomy systems, endo-illumination instruments, perfluoro carbon liquids, vitreoretinal prefilled silicone oil syringes, and others.
Vitrectomy systems dominate the global market with the largest revenue share in the global market. Vitrectomy systems are highly versatile and can be used for a wide range of vitreoretinal surgical procedures. They offer multiple cutting speeds, suction levels, and advanced visualization options, allowing surgeons to tailor the system to their specific needs. The versatility of vitrectomy systems makes them suitable for various retinal conditions, contributing to their widespread adoption. According to an article published by ‘eOphtha’ in 2021, The annual incidence of rhegmatogenous retinal detachment was recorded between 6.3 and 18.2 cases per 100,000. It also has been widely accepted as the standard of care for conditions such as retinal detachment, vitreous hemorrhage, macular hole, and epiretinal membrane. Given its established efficacy and safety, vitrectomy systems have become the go-to option for vitreoretinal surgeons. Vitrectomy systems have undergone significant technological advancements over the years. Modern systems offer features such as smaller gauge instruments, improved cutting and aspiration capabilities, enhanced illumination, and high-definition imaging systems. These advancements have improved surgical outcomes, reduced procedure time, and increased patient safety, making vitrectomy systems the preferred choice for surgeons. Vitrectomy systems often integrate various functions and accessories into a single platform. These can include illumination systems, laser photocoagulation capabilities, fluid infusion systems, and integrated visualization systems. The ability to perform multiple functions within a single device enhances convenience, efficiency, and precision during vitreoretinal surgeries. The familiarity and expertise developed with specific vitrectomy systems creates a preference for their continued use, driving market dominance. Several well-established medical device manufacturers have a strong presence in the vitrectomy system market.
Vitreoretinal Surgery Devices Market by Surgery Type
Based on the surgery type, the global vitreoretinal surgery devices market is segmented into posterior vitreoretinal surgery and anterior vitreoretinal surgery.
Posterior vitreoretinal surgery dominates the global market with the largest revenue share. Posterior vitreoretinal surgery focuses on treating disorders and conditions affecting the posterior segment of the eye, including the retina and vitreous. These conditions, such as retinal detachment, macular holes, epiretinal membranes, and diabetic retinopathy, are relatively common and can significantly impact vision. For instance, according to an article published in 2022 by ‘BMC Ophthalmology,’ diabetic retinopathy (DR) is a potentially blinding consequence of diabetes mellitus that affects over 28% of diabetics in the United States each year. The high prevalence of posterior segment disorders necessitates a greater demand for vitreoretinal surgery devices specifically designed for these conditions. The advancement of vitreoretinal surgery devices, particularly those used in posterior segment surgeries, has contributed to the dominance of this surgical approach. Modern vitreoretinal surgery devices offer improved visualization systems, better cutting and suction capabilities, and more precise manipulation tools. These advancements have increased the success rates and safety of posterior vitreoretinal surgeries, making them the preferred choice for treating a wide range of retinal conditions. Posterior vitreoretinal surgery has witnessed a shift toward minimally invasive techniques, such as small-gauge vitrectomy systems and micro-incisional procedures. These techniques offer advantages like faster recovery, reduced postoperative complications, and improved patient comfort. The increasing adoption of minimally invasive approaches has led to a greater demand for vitreoretinal surgery devices tailored to these techniques, thus driving the dominance of posterior vitreoretinal surgery. Surgeries involving the posterior segment of the eye, such as retinal detachment repair or macular hole closure, are complex and require specialized instruments and devices for optimal outcomes. Posterior vitreoretinal surgery has established treatment protocols and guidelines for various retinal conditions. These protocols are often evidence-based and supported by clinical research, making posterior vitreoretinal surgery the recommended approach for optimal patient outcomes. The adherence to standardized treatment protocols drives the demand for specific vitreoretinal surgery devices designed for posterior segment surgeries.
Vitreoretinal Surgery Devices Market by End User
Based on the end user, the global vitreoretinal surgery devices market is segmented into hospitals, ambulatory surgical centers, specialty clinics, and others.
Hospitals segment accounts for the largest revenue share of 43.50% in 2022. Hospitals typically have well-established infrastructure and facilities, including specialized operating rooms equipped with advanced surgical equipment. These facilities are essential for conducting vitreoretinal surgeries, which require a controlled and sterile environment. The availability of dedicated spaces and equipment in hospitals makes them the preferred setting for performing vitreoretinal surgeries, thus driving their dominance in the market. Hospitals have access to a wide range of resources and support services necessary for vitreoretinal surgeries. This includes imaging facilities for preoperative evaluations, laboratory services for diagnostic tests, and specialized nursing staff for perioperative care. The availability of these resources ensures efficient and comprehensive patient care, contributing to hospitals' dominance in the vitreoretinal surgery devices market. Hospitals often serve as referral centers for complex retinal cases, receiving patients from primary care physicians, ophthalmology clinics, and other healthcare facilities.
Vitreoretinal Surgery Devices Market by Region
Based on the region, the global vitreoretinal surgery devices market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominates the global market with more than 37.01% in 2022. North America has a well-developed healthcare infrastructure, including hospitals, clinics, and ambulatory surgical centers, equipped with state-of-the-art facilities and advanced medical technologies. The availability of sophisticated infrastructure enables the adoption of advanced vitreoretinal surgery devices and attracts skilled surgeons and healthcare professionals to perform vitreoretinal surgeries in the region. North America has a relatively high prevalence of retinal disorders such as age-related macular degeneration, diabetic retinopathy, and retinal detachment. The aging population, along with lifestyle factors such as sedentary behavior and unhealthy diets, contributes to the increased incidence of these conditions. The higher prevalence of retinal disorders drives the demand for vitreoretinal surgeries and related devices in North America. According to the United Nations Population Fund dashboard statistics updated in 2022, an estimated 19% of Canada's total population was 65 years or older in 2022. Several major medical device manufacturers and suppliers of vitreoretinal surgery devices are headquartered or have a significant presence in North America. These companies have established distribution networks, strong customer relationships, and robust R&D capabilities. The market presence and reputation of these key players in North America contribute to the region's dominance in the global vitreoretinal surgery devices market.
Competitive Landscape
The prominent players operating in the global vitreoretinal surgery devices market are:
Vitreoretinal surgery is a type of eye surgery to treats various problems with the retina and vitreous.
Novartis AG (Alcon Inc.), Bausch & Lomb Inc., and OCULUS Optikgerete GmbH are some of the major market players in the global vitreoretinal surgery devices market.
High cost for the vitreoretinal surgery devices system and lack of skilled professionals are some of the restraints obstructing the growth of the global market.
The posterior vitreoretinal surgery segment dominates the global vitreoretinal surgery devices market.
Growing technological advancement and the increasing prevalence of retinal disorders are some of the major factors driving the global market.
*Insights on financial performance are subject to the availability of information in the public domain