Vitreoretinal Surgery Devices Market Trends, Growth Insights And Forecast To 2027

The global vitreoretinal surgery devices market trends are poised to witness a substantial growth over the coming years, driven by the proliferating technological advancements in the surgical devices with an assurance of minimized procedural time and efforts. Additionally, the mounting pervasiveness of ocular diseases like the diabetic retinopathy, cataract, refractive error, and others are likely to fuel the market dynamics. For an instance, a report rolled out by American Diabetic Association represented that approximately 97 million people in the United States suffered from diabetic retinopathy in 2017.
Meanwhile, the age-related macular degeneration among the geriatric population adds to the rise of the global vitreoretinal surgery devices market share. Furthermore, it has been projected that by 2020, nearly 196 million people worldwide will suffer from age-related macular degeneration thereby fueling the demand for vitreoretinal surgeries and eventually propelling the market trends.
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Research by Global Market Insights, Inc. suggests that vitreoretinal surgery devices market size is expected to surpass USD 1.9 billion by 2025 globally.
The products like photocoagulation lasers, vitreoretinal packs, illumination devices, and others hold a significant stake in global vitreoretinal surgery devices market size.
Photocoagulation lasers are apprehended to be used for the treatment of various eye diseases, on account of which these devices held a major portion of the market revenue – over USD 409.9 million in 2018. These devices have been anticipated to witness a positive industry outlook due to the rise in demand for effective treatment of ocular diseases.
On the other hand, the vitreoretinal packs hold a broad spectrum of application in retinal surgeries, thereby supporting the market growth. The segment is predicted to register significant revenue size over the forthcoming years on account of the increasing geriatric population along with rising number of vitreoretinal surgeries.
The growth of vitreoretinal surgery devices market can be attributed to the expansion of various end-use sectors such as hospitals, ambulatory surgery centers, and specialty clinics, that deploy these devices on a widespread scale.
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The vitreoretinal surgery devices market size from specialty clinics is projected to foresee a substantial growth of over 3.4 per cent through 2025 attributing to the surge in occurrence of the ocular diseases and deployment of the state-of-the-art facilities.
Meanwhile, the hospital sector is expected to lead the end-use segment of vitreoretinal surgery devices market over the forecast timespan on account of the fact that they use these equipment on a substantial basis.
The progressive surge of vitreoretinal surgery devices market can be aptly credited to the mounting awareness of different vitreoretinal treatments amongst the regional population. Additionally, proliferating instances of the eye disorders such as glaucoma, cataract, and others are contributing significantly towards the market growth.
According to the American Academy of Ophthalmology, nearly 40 million people in the US suffer from some eye-related errors and issues. Also, the Centers for Disease Control and Prevention (CDC) reported that over more than 3.3 million Americans above the age of 40 years are either legally blind or see with low vision.
Consequently, the robust growth of the awareness amongst the masses enabled the United States vitreoretinal surgery devices market to dominate the industry with a market share of 91.7 per cent in 2018.
Partial Chapter of the Table of Content
Chapter 2. Executive Summary
2.1. Vitreoretinal surgery devices industry 3600 synopsis, 2014 - 2025
2.1.1. Business trends
2.1.2. Product trends
2.1.3. End-use trends
2.1.4. Regional trends
Chapter 3. Vitreoretinal Surgery Devices Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2014 – 2025
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.1.1. Growing geriatric population base
3.3.1.2. Increasing prevalence of eye-related disorders
3.3.1.3. Government initiatives and funding to improve vision care
3.3.1.4. Significant advancements related to vitreoretinal surgery devices
3.3.2. Industry pitfalls & challenges
3.3.2.1. High cost of devices
3.3.2.2. Uncertainty in reimbursement scenario
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By end-use
3.5. Regulatory scenario
3.6. Porter’s analysis
3.7. Competitive landscape, 2017
3.7.1. Strategy dashboard
3.8. PESTEL analysis
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