The global vitreoretinal surgery devices market was valued at USD 1.7 Billion in 2021 and it is anticipated to grow up to USD 2.5 Billion by 2031, at a CAGR of 3.9% during the forecast period.
Vitreoretinal surgery devices are used to treat conditions of the retina and vitreous, the clear, jelly-like substance that fills the inside of the eye. There are a variety of vitreoretinal surgery devices, including: Retinal detachment repair devices: These devices are used to repair a retina that has become detached from the back of the eye. Retinal detachment is a serious condition that can lead to blindness.
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Vitrectomy devices: These devices are used to remove the vitreous from the eye. Vitrectomy is often performed to treat conditions such as diabetic retinopathy and macular degeneration. Retinal prosthesis: A retinal prosthesis is an artificial device that is implanted in the eye to replace the function of the retina. Retinal prostheses are used to treat conditions such as retinitis pigmentosa and age-related macular degeneration.
Market Trends and Drivers
The rapidly aging population is anticipated to spur the industry progression in the coming years. The WHO data estimates that the geriatric population is slated to double in the years from 2015 to 2050. The elderly population aged above 60 years is poised to showcase threefold growth during 2010 and 2050, reaching about 1.3 billion. Moreover, as per the United Nations Population Fund (UNFPA) estimates, by the year 2050, approximately 25% individuals in Asia Pacific region will be aged more than 60 years.
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Eye-related disorders are increasingly prevalent among the elderly population as aging affects vision and the ability to focus. The increasing elderly population affected with vision related conditions is set to fuel the vitreoretinal surgery devices market demand.
The most frequent causes of vision impairment among the aging populace include the age-related macular degeneration, glaucoma, cataract, and diabetic retinopathy among others. Due to the increasing susceptibility and impaired vision, the prevalence of these disorders is commonly profound in people aged 60 and above.
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Global Vitreoretinal Surgery Devices Market Segmentation
By Product
- Photocoagulation Lasers
- Illumination Devices
- Vitreoretinal Packs
- Vitrectomy Machines
- Vitrectomy Probes
- Others
By End-use
- Hospitals
- Specialty Clinics
- Ambulatory Surgery Centers
- Others
Major Players in the Global Vitreoretinal Surgery Devices Market
The key players in the market Alcon, Inc., Bausch & Lomb, Inc., OCULUS Optikgeräte GmbH, MedOne Surgical, Inc., Carl Zeiss Meditec AG, Designs for Vision, Inc., Peregrine Surgical, D.O.R.C., Safilo Group, and Rodenstock, among others.
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