Vitrectomy Machines Market to Surpass US$610 Million by 2027 Amid Rising Prevalence of Eye Disorders and Injuries
vitrectomy machines Sales will grow at 7.2% CAGR as macular hole treatment demand grows at 8% CAGR
Fact.MR in its latest study highlights key growth drivers, latest developments, opportunities, challenges, and market statistics to offer a better understanding of the global Vitrectomy Machines Market. It also sheds light on key trends influencing growth across various segments including type, application, end-user, and region.
Rockville, Md., November 4, 2022 /PRNewswire/ — The global vitrectomy machine market is expected to reach $430 million in 2022 and further increase at 7.2% CAGR between 2022 and 2027. Market sales are expected to exceed a total valuation of US$610 million by the end of 2027.
The increasing incidence of eye injuries, retinal diseases and diabetes is giving major impetus to the growth of the vitrectomy machines market and the trend is expected to continue during the forecast period.
In recent years, vitrectomy machines have gained immense popularity across the world due to the increasing number of vitrectomy procedures performed worldwide. They are widely used to treat various problems of the retina and vitreous of the eye.
Rising frequency of eye disorders, technical improvements in vitrectomy devices, and expansion of government initiatives to raise awareness of visual impairment are expected to drive the vitrectomy machine market over the forecast period.
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Likewise, the rapid increase in the number of trauma cases involving retinal tears, along with the increased occurrence of retinal detachments are also expected to drive the expansion of the market.
In addition to this, the growing attention of vitrectomy machine manufacturers to develop low-cost machines to expand their customer base will bode well for the market.
The demand for vitrectomy devices for macular hole therapy is estimated to grow at a CAGR of 8% over the projection period. This can be attributed to the increasing prevalence of macular hole cases and the increasing use of vitrectomy machines during eye procedures to treat this condition.
At the regional level, North America is the global vitrectomy machine market leader and is likely to maintain its dominance during the projection period. The increased frequency of eye conditions such as diabetic retinopathy, macular hole, retinal detachment and others is likely to stimulate the North America vitrectomy machine market.
Key points to remember:
- By application, the macular hole segment represents 35% global vitrectomy machines market share and is expected to grow at a steady rate through 2027.
- On the basis of end-user, hospital segment will continue to dominate the global vitrectomy machine market during the forecast period.
- North America is currently dominating the global vitrectomy machine market and the trend is expected to continue during the projection period.
- China Vitrectomy Machines Market is poised to grow at a CAGR of 11% between 2022-2027.
- Sales of vitrectomy devices in the United States are expected to grow at a steady rate over the assessment period.
- Rapid innovation in vitrectomy machines is expected to generate lucrative growth opportunities for leading manufacturers.
- Increase in government programs and funding to improve eye care will help in the expansion of the vitrectomy machine market
- The growing popularity of minimally invasive procedures for the treatment of various eye conditions is expected to drive the vitrectomy machine market over the forecast period.
- Lack of adequate healthcare facilities and slow acceptance of medical technologies in developing regions may hamper the expansion of the vitrectomy machine market.
- Risks associated with vitrectomy are also negatively influencing the vitrectomy machine market.
- The high cost of vitrectomy machines along with the uncertain reimbursement environment is likely to hamper sales in the market.
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Innovative vitrectomy devices with several functionalities are developed by leading players in the vitrectomy machine market to treat eye diseases. For business growth, key competitors are focusing on strategic initiatives such as partnerships, mergers, acquisitions, and the launch and commercialization of new products.
- In August 2021, Alcon (Swiss), a leading producer of eye care solutions, has entered into a partnership with Ivantis, the manufacturer of the new Hydrus Microstent. This step will expand Alcon’s premier surgical portfolio and leverage the company’s business execution expertise.
- In October 2021, the NIDEK Experience Center was founded by NIDEK CO., LTD. (Japan). This center allows visitors to taste the latest NIDEK innovations and learn about them from experienced doctors, NIDEK specialists and basic engineers.
- In June 2021, DORC introduced EVA EquiPhaco bent needles, with improved chamber stability and ultrasonic efficiency. The angled tip, with a 15° angle and small distal tip, increases mobility and accessibility to reduce wound tension. The EVA Phaco-Vitrectomy System utilizes the full selection of EquiPhaco tips.
- In November 2020, Precision Lens and Leica Microsystems Inc. have expanded their exclusive distribution partnership. Precision Lens was Leica’s partner in the Midwest for ophthalmic surgical microscopes and digital imaging equipment.
Top Companies Featured by Fact.MR
- Alcon, Inc.
- IRIDEX Company
- Leica Microsystems GmbH
- Lumenis Ltd.
- Optos Plc
- Synergy, Inc.
- Topcon Corporation
- Bausch & Lomb Incorporated
- Carl Zeiss Meditec AG
More valuable information about vitrectomy machine market
In the latest study, Fact.MR offers a detailed study on the Global Vitrectomy Machines Market for the forecast period 2022 to 2027. This study also highlights the key drivers driving Vitrectomy Machines sales through segmentation detailed as follows:
- 1000 revolutions
- 2500 revolutions
- macular hole
- Retinal detachment
- Diabetic retinopathy
- Vitreous hemorrhage
Per end user:
- Ophthalmic clinics
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Key questions answered in the Vitrectomy Machines market report
- What is the projected value of the Vitrectomy Machines market in 2022?
- At what rate will the global vitrectomy machines market grow through 2027?
- What are the factors hindering the growth of the Vitrectomy Machines market?
- Which region is expected to lead the global vitrectomy machines market in 2022-2027?
- What are the factors driving the Vitrectomy Machines market during the forecast period?
- What is the expected market value of the Vitrectomy Machines market during the forecast period?
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