Vitreoretinal Surgery Devices Market Size, Share, Competitive Landscape and Trend Analysis Report, by Product, by Surgery Type, by End User : Global Opportunity Analysis and Industry Forecast, 2024-2033

Key Market Dynamics

According to vitreoretinal surgery devices market forecast analysis the key factors driving the growth of the market are aging population, rising prevalence of ophthalmic disorders, and technological advancement. According to the 2022 factsheet of World Health Organization, by 2030, 1 in 6 people in the world is projected to be aged 60 years or over. By 2050, the world population of people aged 60 years and older is projected to be 2.1 billion. As individuals age, they become more susceptible to various eye conditions, such as age-related macular degeneration (AMD) , diabetic retinopathy, and retinal detachment, all of which often necessitate surgical intervention. The aging process itself contributes to changes in the vitreous and retina, making elderly individuals more prone to conditions that require sophisticated surgical procedures like vitrectomy, a common intervention for repairing retinal detachments or removing scar tissue from the retina. Thus, the rise in the geriatric population is expected to drive the vitreoretinal surgery devices market growth. Furthermore, a rise in the prevalence of ophthalmic diseases is expected to drive the growth of the market.  Ophthalmic diseases, particularly those affecting the retina and vitreous humor of the eye, such as diabetic retinopathy, age-related macular degeneration (AMD) , and retinal detachment, have shown increasing incidence rates globally. These conditions often lead to severe visual impairment or even blindness if left untreated, necessitating surgical interventions to restore or preserve vision. Thus, the ageging population and rise in prevalence of opthalmic diseases is expected to drive the growth of vitreoretinal surgery devices market size.

Vitreoretinal surgery has become a crucial therapeutic approach for managing these complex eye conditions. The demand for vitreoretinal surgery devices, including instruments and equipment used in procedures like vitrectomy and retinal detachment repair, has correspondingly risen. Technological advancements in vitrectomy system have improved surgical outcomes, allowing for more precise and minimally invasive procedures that reduce patient recovery times and improve post-operative results. Thus, the rise in prevalence of ophthalmic diseases and technological advancement in the vitreoretinal surgery devices is expected to drive the growth of the market.

Rise in Geriatric Population

According to the vitreoretinal surgery devices market opportunity analysis rise in the geriatric population is increasingly recognized as a pivotal driver for the vitreoretinal surgery devices market. As the global population ages, there is a proportional increase in age-related eye conditions such as diabetic retinopathy, age-related macular degeneration (AMD) , and retinal detachment. These conditions often necessitate surgical interventions to restore or preserve vision, thereby boosting the demand for vitreoretinal surgery devices. Elderly individuals are more susceptible to these conditions due to physiological changes in the eye, such as the thickening of the vitreous gel or the formation of retinal scars. Consequently, there is a growing need for advanced surgical tools and techniques that cater specifically to the delicate procedures required for treating these ailments in older patients. According to 2023 article by National Library of Medicine, the overall prevalence of age-related macular degeneration was highest among the 60- to 69-year age group.

Market Segmentation

The vitreoretinal surgery devices industry is segmented into product, surgery type, end user, and region. By product, the market is divided into perfluorocarbon liquids, endoillumination instrument, vitreoretinal prefilled silicone oil syringes, vitrectomy system, and other. By surgery type, the market is classified into anterior vitreoretinal surgery and posterior vitreoretinal surgery.
By end user, the market is categorized into hospitals, specialty clinics, and ambulatory surgery centers. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

Regional/Country Market Outlook

North America dominated the vitreoretinal surgery devices market share in 2023 owing to substantial research and development activities, a strong presence of major key players, well-established healthcare systems, high adoption of advanced medical technologies, and increasing prevalence of age-related macular degeneration (AMD) and diabetic retinopathy. In the Asia-Pacific region, rapid market expansion is anticipated due to improving healthcare infrastructure, rising healthcare expenditures, and increasing awareness among the population regarding eye health. Countries like China and India are witnessing significant market growth due to large patient pools and increasing healthcare investments.

• According to the factsheet published by Bright Focus Foundation in October 2022, about 11 million people in the U.S. have some form of age-related macular degeneration and this number is expected to double to nearly 22 million by 2050.
• According to 2022 fact sheet by National Center of Biotechnology Information (NCBI) in 2022, it was estimated that 55.9 million people suffer age-related macular degeneration (AMD) in China. 
• According to an article published by United Nations Population Fund, by 2050, one in four people in Asia and the Pacific will be over 60 years old

Competitive Landscape

The major players operating in the vitreoretinal surgery devices market include vitreoretinal surgery devices market report summarizes top key players overview as Bausch & Lomb Incorporated, Novartis AG (Alcon) , Inami & Co., Paragon Care Group Pty Ltd, Oculus Inc., MedOne Surgical, Inc., Carl Zeiss Meditec AG, Peregrine Surgical, Johnson & Johnson and Blink Medical. Other players in the vitreoretinal surgery devices market are Hoya Surgical Optics, Haag-Streit Group, Ellex Medical Lasers and BVI. 

Recent Key Strategies and Developments

• In March 2022, Carl Zeiss Meditec received 510 (k) premarket approval from the United States Food and Drug Administration (FDA) for their QUATERA 700 device, which is indicated for the emulsification and removal of cataracts and anterior segment vitrectomy.
• In May 2022, Alcon announced the launch of their Constellation Vision System, which is a new generation of vitreoretinal surgery platform that offers a variety of technological advances, such as improved visualization and more precise instrumentation.
• In June 2022, Ellex Medical Lasers announced the launch of their EYESYS 23G Vitrectomy System, which is a new minimally invasive vitreoretinal surgery system that is designed to provide surgeons with a more precise and efficient way to perform vitreoretinal surgery procedures.

Key Sources Referred

1. National Library of Medicine
2. Bright Focus Foundation
3. Center of Disease Control and Prevention
4. National Center of Biotechnology Information
5. United Nations Population Fund
6. Now Health International
7. World Health Organization

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the vitreoretinal surgery devices market analysis from 2024 to 2033 to identify the prevailing vitreoretinal surgery devices market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the vitreoretinal surgery devices market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global vitreoretinal surgery devices market trends, key players, market segments, application areas, and market growth strategies.