Vitrectomy Systems Market: Introduction
- Retina is a layer of nerve tissue lining the back of the eye. It receives light and converts it into neural signals and sends these signals to the brain for visual recognition.
- There are several types of retinal diseases affecting the retina, including retinal detachment, macular pucker or hole, diabetic retinopathy, and vitreous hemorrhage
- Vitrectomy is a surgical procedure, which removes the vitreous gel that fills the eye cavity, using a small microsurgical equipment. The surgeon may then use a laser to seal the retinal tears or holes. The eye is then filled with a gas bubble to hold the retina in place while it heals.
- There are two different types of victrectomies: posterior pars plana vitrectomy and anterior vitrectomy. These surgeries are performed for the removal of scar tissue, laser repair of retinal detachments, and treatment of macular holes.
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Key Drivers of Global Vitrectomy Systems Market
- Rise in prevalence of retinal disorders globally and rapidly increasing geriatric population are likely to drive the global vitrectomy systems market
- Rise in prevalence of retinal disorders, such as diabetic retinopathy, age-related macular degeneration, and retinal detachment are projected to boost the growth of the global vitrectomy systems market during the forecast period
- According to the American Academy of Ophthalmology (AAO), currently, around 93 million people are affected by diabetic retinopathy across the globe
- Increase in the prevalence of diabetes mellitus, a major risk for diabetic retinopathy, is anticipated to propel the global market
- Currently, 387 million people in the world have diabetes mellitus and the number is expected to reach 592 million by 2035. One in three individuals with diabetes mellitus is at high risk of developing diabetic retinopathy.
- Baby boomer population is vulnerable to retinal disorders, such as retinal detachment, vitreous hemorrhage, age-related macular degeneration, and diabetic retinopathy. This is anticipated to augment the global vitrectomy systems market during the forecast period.
North America to Hold Major Share of Global Vitrectomy Systems Market
- Rise in prevalence of diabetic retinopathy is projected to drive the demand for vitrectomy systems in the U.S. According to the American Association of Ophthalmology (AAO), vitreous hemorrhage has an incidence rate of 7 cases per 100,000, which makes it one of the most common causes of acutely decreased vision.
- Favorable reimbursement scenario for ophthalmic procedures, such as vitrectomy, is expected to boost the vitrectomy systems market in the near future
- Launch of innovative devices for the treatment of retinal disorders by leading players is expected to propel the vitrectomy systems market in the U.S. For instance, in July 2019, Alcon, a leading player in eye care, launched the HYPERVIT dual blade vitrectomy probe, the latest evolution of the ULTRAVIT probes and newest addition to the pioneering CONSTELLATION Vision System at the American Society of Retina Specialists (ASRS), 2019. The product is indicated for vitreous cutting and aspiration, membrane cutting and aspiration, and dissection of tissue and lens removal and will enhance stability and control during micro incision vitrectomy surgery (MIVS). The strategy will enable the firm to focus on customer needs, and update and advance the existing product portfolio of the company.
- The vitrectomy systems market in the Europe is anticipated to grow at a substantial rate, owing to the increase in the burden of retinal disorders, such as diabetic retinopathy and vitreous hemorrhage among adult patients. Proliferative diabetic retinopathy is the most frequent cause of vitreous hemorrhage in adults. For instance, 6% of the adults in London and 19.1% in Sweden have vitreous hemorrhage.
- Asia Pacific vitrectomy systems market is anticipated to grow at a rapid pace due to the increase in prevalence of diabetes and related retinopathy in geriatric population in emerging countries such as India and China
- According to the International Diabetic Federation (IDF), diabetic population in India is anticipated to cross the alarming mark of 69.9 million by 2025 and 80 million by 2030. Moreover, diabetic retinopathy is a major complication, affecting nearly 18% of the diabetic population in India. All these factors are anticipated to fuel the demand for vitrectomy systems during the forecast period.
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Key Players Operating in Global Market
Major players operating in the global vitrectomy systems market are:
- Carl Zeiss Meditec AG
- Alcon Inc.
- Bausch & Lomb, Inc.
- Johnson & Johnson Vision
- D.O.R.C. International B.V.
- Oertli Instruments AG
- Acucela, Inc.
- Graybug Vision, Inc.
Global Vitrectomy Systems Market: Research Scope
Global Vitrectomy Systems Market, by Product
- Phacoemulsifier Systems
Global Vitrectomy Systems Market, by Application
- Diabetic Retinopathy
- Retinal Detachment
- Macular Holes
- Vitreous Hemorrhage
- Macular Puckers
- Vitreous Floaters
Global Vitrectomy Systems Market, by End-user
- Specialty Eye Clinics
- Ambulatory Surgery Centers
Global Vitrectomy Systems Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.