Rockville, MD, Aug. 07, 2024 (GLOBE NEWSWIRE) -- As per a new research study released by Fact.MR, the global vitreoretinal surgery device market is estimated to be worth US$ 2.23 billion in 2024 and is analyzed to expand at 6.1% CAGR from 2024 to 2034. Advancements in vitreoretinal surgery instruments are contributing to improving the precision, safety, and outcomes of these complex surgeries.
High-resolution imaging equipment offers a clearer picture of the retinal structure, and the newest devices for vitreoretinal surgery increase the effectiveness and efficiency of surgical treatments. Techniques such as microincision vitrectomy surgery (MIVS) lessen the invasiveness of surgeries, let patients heal faster, and entail fewer complications.
More precise tissue targeting and treatment are now possible because of modern laser technology. Technological advancements are contributing to market expansion by providing surgeons with improved tools, enhancing surgical success rates and patient outcomes.
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Key Takeaways from Market Study
- The global vitreoretinal surgery device market is projected to reach US$ 4.01 billion by the end of 2034.
- Sales of vitrectomy accessories are evaluated to reach US$ 1.53 billion by 2034.
- North America is estimated to account for 1% share of the global market in 2024.
- The market in the United States is calculated to reach US$ 916 million by 2034.
- Sales of vitreoretinal surgery devices in Japan are estimated at US$ 114 million in 2024 and are projected to top US$ 231 million by 2034-end.
- Demand for vitreoretinal surgery devices in Mexico is forecasted to increase at 6% CAGR through 2034.
- Based on application, the retinal detachment segment is poised to hold 7% market share in 2024.
- By end user, hospitals are evaluated to generate revenue of 2 billion by the end of 2034.
“Improved capability of vitrectomy probes to remove shear collagen fibers without 3D surgery is poised to contribute to vitreoretinal surgery device market growth,” says a Fact.MR analyst
Leading Players Driving Innovation in the Vitreoretinal Surgery Device Market
Key manufacturers are Hoya Surgical Optics, Rodenstock, Topcon Corporation, Alcon Inc., Cooper Vision, British Virgin Islands (BVI), Johnson & Johnson Vision Care, Inc., Erbe Elektromedizin, Safilo Group, Carl Zeiss Meditec AG, Blink Medical, Nidek Co., Ltd.
Demand for Vitreoretinal Surgery Devices High in Japan
Japan is witnessing an increase in the number of instances of diabetes, a serious health issue in turn leading to an increased risk of diabetes-related retinopathy. The country's demand for vitreoretinal surgical equipment is fueled by the fact that treatment for diabetic retinopathy commonly entails vitreoretinal surgery.
To effectively manage the growing number of individuals with diabetes and its associated issues, such as diabetic retinopathy, advanced surgical therapies are becoming more important. For these reasons, vitreoretinal surgical devices are important for addressing diabetic eye issues and raising the bar for eye care in Japan.
Competitive Environment
Leading companies in the vitreoretinal surgical device market are concentrating on developing novel methods for treating retinal detachments and expanding the range of applications for vitrectomy in this context. However, these items' technological advantages are one of their key differentiators.
Vitreoretinal Surgery Device Industry News:
Carl Zeiss Meditec agreed to buy the Dutch Ophthalmic Research Center in December 2023 in order to expand the selection of ophthalmic equipment it offers. Zeiss hopes to expand the selection of vitreoretinal surgical devices in its stock with this acquisition. With a valuation of approximately US$ 1.07 billion, the transaction is anticipated to be finalized in 2024.
Ellex Medical Lasers announced the launch of their new minimally invasive EYESYS 23G Vitrectomy technology in June 2022, with the goal of providing surgeons with a more precise and efficient method of performing vitreoretinal surgical treatments.
Constellation Vision System, the next generation of Alcon's vitreoretinal surgical platforms, was unveiled in May 2022. It provides a number of technological innovations, such as improved instrumentation and visualization.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the vitreoretinal surgery device market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (vitrectomy accessories, vitrectomy packs, vitrectomy machines, disposables), application (diabetic vitreous hemorrhage, retinal detachment, macular hole), and end user (hospitals, eye clinics, ASCs), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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Image Guided Surgery Devices Market: Size was valued at US$ 6.7 Bn in 2021, and is expected to reach US$ 16.1 Bn by 2032, expanding at a CAGR of 8.4% over the 2022-2032 time frame.
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