Vitreoretinal Surgery Devices Market: Overview
Vitreoretinal surgeries are undertaken to treat eye disorders related to the retina, macula, and vitreous fluid. These include macular degeneration, retinal detachment, uveitis and vitreous hemorrhage, macular hole, epiretinal membrane, retinal detachment, and complications related to diabetic retinopathy. The variety of instruments, tools, and surgical equipment designed to help surgeons execute the surgery fall under the umbrella of medical devices called vitreoretinal surgery devices.
Over the past few years, the global market for vitreoretinal surgery devices has witnessed significant advancements in terms of the easy availability of specialized solutions, techniques, and instruments, which allow for less invasive procedures, reduce the amount of suffering to the eye, and lead to reduced healing time and improved patient outcomes. Developments in the market continue to happen at a rapid pace and an increasing number of companies are manufacturing highly sophisticated vitreoretinal surgery devices capable of supporting the surgery technique and the overall efficiency of the procedure.
This report on the global vitreoretinal surgery devices market presents a thorough account of the present growth dynamics of the market and its key segments, along with verifiable projections pertaining to the growth prospects over the period between 2016 and 2024. Potential impact of the regulatory framework at regional and global levels on a variety of decisions related to the vitreoretinal surgery devices market is also analyzed in the report.
Vitreoretinal Surgery Devices Market: Drivers and Opportunities
The vast and rapid rise in the global population of geriatrics, a demographic considered most vulnerable to vitreoretinal disorders such as macular degeneration, is one of the key factors to have led a significant rise in the number of vitreoretinal surgeries taking place globally. Furthermore, the rising global prevalence of eye disorders is also expected to lead to an increase in the number of vitreoretinal surgeries in the next few years. Along with these factors, the global demand for vitreoretinal surgery devices is expected to rise due to technological developments observed in the field and the increased availability of automated and easy-to-use devices.
Vitreoretinal Surgery Devices Market: Segmentation
The market can be segmented on the basis of criteria such as product type, end-use sector, and surgery type. On the basis of product variety, the market can be segmented into vitreo retinal per fluoro carbon liquids (PFCL), vitreo retinal surgical packs, and vitreo retinal prefilled silicone oil syringes. On the basis of type of surgery, the market can be segmented into anterior vitreoretinal surgery and posterior vitreoretinal surgery. Both types require specific varieties of equipment and devices. However, not a large range of devices are present in the market capable of being used across both types of surgeries. This could be a lucrative growth opportunity for companies operating in the market.
Vitreoretinal Surgery Devices Market: Geographical and Competitive Dynamics
On the basis of geography, the market has been segmented into regions such as North America, Asia Pacific, Europe, and Middle East and Africa. Of these, North America is presently the leading contributor to the revenue of the global vitreoretinal surgery market, chiefly owing to the vast population base of geriatrics, highly developed healthcare infrastructure, and an encouraging medical reimbursement structure. Over the report’s forecast period, however, Asia Pacific is expected to emerge as the most lucrative regional market for vitreoretinal surgery devices owing to the rising geriatric population, rising population of affluent patients, and improvements in healthcare infrastructure of countries such as South Korea, India, and China.
Some of the key companies operating in the global vitreoretinal surgery market are Dutch Ophthalmic Research Center International BV, Bausch & Lomb, Inc., OCULUS Optikgeräte GmbH, Designs For Vision Pty Ltd, MedOne Surgical, Inc., and Alcon, Inc.
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.