The global vitreoretinal surgery devices market is expected to witness strong growth during the forecast period between 2021 and 2031.
Vitreoretinal surgery devices are equipment that are predominantly deployed in vitreoretinal surgeries, in a bid to cure diseases related to the macula, retina and other parts of the eye.
Some of the eye disorders cured using vitreoretinal surgery devices include retinal tear, macular degeneration, and diabetic retinopathy. Diabetic retinopathy is a disorder, which has been increasingly witnessed among the elderly population in the last few years.
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Rising incidence of different eye-related disorders globally is the key growth driver for the vitreoretinal surgery devices market.
In addition to this, growing geriatric population who are prone to suffer eye diseases is expected to contribute to the growth of the overall market, in the coming years.
Government initiatives and measures, creating awareness about different eye disorders and the benefits of deploying vitreoretinal devices for treatment is expected to help bolster product demand, in future.
Availability of novel, easy-to-use and automated vitreoretinal surgery devices could help drive product demand in future and bolster the vitreoretinal surgery devices market, in the years ahead.
The vitrectomy probes product segment is expected to contribute the most to the overall market due to increased efficiency to remove shear collagen fibers without the need for 3D surgery.
Hospitals and clinics end-use segments are expected to make the largest contribution to the overall market due to increased deployment of vitreoretinal surgery devices for the treatment of different eye-related diseases, globally.
The global vitreoretinal surgery devices market is extremely competitive, with the presence of several prominent players. It is anticipated that a large number of players will account for a large share in the overall market, in future.
Well-established market players are expected to make huge investments in research and development activities in a bid to produce improved quality of products, which would meet the customer requirements and increase the consumer base.
Growth strategies such as new product launches could help leading market players gain a competitive edge over the other players.
In January 2021, DORC stated that they had received approval from Health Canada for the application of TissueBlue 0.025%, which would serve as an alternative for Indocyanine green and other straining agents.
The smaller players will also seek investments from governments and private investors, which could help them in their long-term growth.
Some of the leading players in the global vitreoretinal surgery devices market include Bausch & Lomb Incorporated, Carl Zeiss Meditec AG, Oculus Inc., Paragon Care Group Pvt Ltd., Dutch Ophthalmic Research Center, and Novartis AG.
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The global vitreoretinal surgery devices market is classified into five regions, North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
North America is expected to be the dominant region in the global vitreoretinal surgery devices market owing to the increasing prevalence of eye diseases in countries such as US and Canada and increased health care expenditure.
Europe is anticipated to witness substantial growth in the global market owing to increased healthcare reimbursement policies in countries such as Germany and UK.
The presence of well-established players in these countries could help market growth in Europe, in the upcoming years.
Asia Pacific is expected to witness moderate growth in the vitreoretinal surgery devices market due to increased efforts by governments in countries such as India and Japan, to establish more eye-care centers.
Other regions of the world such as Latin America and Middle East and Africa are expected to witness sluggish growth in the overall market, owing to the lack of presence of well-established players in countries, belonging to both regions.
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