Fact.MR in its latest study highlights the key growth factors, latest developments, opportunities, challenges, and market statistics to offer a better understanding of the global vitrectomy machines market. It also sheds light on the key trends influencing growth through various segments, including type, application, end user, and region.
ROCKVILLE, Md., Nov. 4, 2022 /PRNewswire/ — The global vitrectomy machines market is estimated to reach US$ 430 million in 2022 and further expand at 7.2% CAGR between 2022 and 2027. Sales in the market are expected to surpass a total valuation of US$ 610 Million by the end of 2027.
Rising incidence of eye injuries, retinal illnesses, and diabetes is providing a major impetus to the growth of vitrectomy machines market and the trend is likely to continue during the forecast period.
In recent years, vitrectomy machines have gained immense traction across the world due to increasing number of vitrectomy procedures being performed worldwide. They are being extensively used to treat various problems of the eye’s retina and vitreous.
The rising frequency of ocular disorders, technical improvements in vitrectomy devices, and expanding government initiatives to raise awareness about visual impairment are expected to boost the vitrectomy machines market during the forecast period.
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Similarly, rapid increase in the number of trauma cases involving retinal tears, as well as the greater frequency of retinal detachment is also expected to drive market expansion.
In addition to this, growing focus of vitrectomy machine manufacturers to develop low-cost machines for expanding their customer base will bode well for the market.
Demand for vitrectomy machines for macular hole therapy is estimated to grow at 8% CAGR during the projection period. This can be attributed to the rising prevalence of macular hole cases and increasing usage of vitrectomy machines during eye procedures to treat this condition.
Regionally, North America leads the global vitrectomy machines market and it is likely to retain its dominance during the projection period. Increasing frequency of ocular ailments such as diabetic retinopathy, macular hole, retinal detachment, and others is likely to boost the North America vitrectomy machine market.
- By application, macular hole segment accounts for 35% share of the global vitrectomy machines market and it is expected to grow at a robust pace through 2027.
- Based on end user, hospitals segment will continue to lead the global vitrectomy machines market during the forecast period.
- North America currently dominates the global vitrectomy machines market and the trend is likely to continue during the projection period.
- China’s vitrectomy machines market is poised to grow at a CAGR of 11% between 2022 and 2027.
- Sales of vitrectomy machines across the U.S. are anticipated to grow at a robust pace during the assessment period.
- Rapid innovation in vitrectomy machines is expected to generate lucrative growth opportunities for leading manufacturers.
- Increasing government programs and financing to improve vision care will aid in the expansion of vitrectomy machines market
- Growing popularity of minimally invasive procedures for treating various eye conditions is expected to boost vitrectomy machines market during the forecast period.
- Lack of adequate healthcare facilities and a slow acceptance of medical technologies in developing regions may impede vitrectomy machines market expansion.
- The risks associated with vitrectomy are also negatively influencing the vitrectomy machines market.
- 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 features are being developed by the key players in vitrectomy machines market to treat eye diseases. For company growth, key competitors are focused on strategic initiatives such as partnerships, mergers, acquisitions, and the launch and commercialization of new products.
- In August 2021, Alcon (Switzerland), a prominent producer of eye care solutions, entered into a partnership with Ivantis, the manufacturer of the novel Hydrus Microstent. This step will expand Alcon’s leading surgical portfolio and leverage the company’s commercial execution expertise.
- In October 2021, the NIDEK Experience Center was founded by NIDEK CO., LTD. (Japan). This center allows visitors to sample the newest NIDEK innovations and learn about them from experienced physicians, NIDEK specialists, and core engineers.
- In June 2021, DORC introduced EVA EquiPhaco angled needles, with enhanced chamber stability and ultrasonic efficiency. The angled tip, with a 15° angle and a small distal end, increases mobility and reachability to lessen wound tension. EVA Phaco-Vitrectomy system uses the full selection of EquiPhaco tips.
- In November 2020, Precision Lens and Leica Microsystems Inc. expanded their exclusive distribution partnership. Precision Lens operated as Leica’s channel partner in the Midwest for ophthalmic surgical microscopes and digital imaging equipment.
Key Companies Profiled by Fact.MR
- Alcon, Inc.
- IRIDEX Corporation
- Leica Microsystems GmbH
- Lumenis Ltd.
- Optos Plc
- Synergetics, Inc.
- Topcon Corporation
- Bausch & Lomb Incorporated
- Carl Zeiss Meditec AG
More Valuable Insights on Vitrectomy Machines Market
In the latest study, Fact.MR offers a detailed study on global vitrectomy machines market for the forecast period of 2022 to 2027. This study also highlights key drivers promoting the sales of vitrectomy machines through detailed segmentation as follows:
- 1000 Revolutions
- 2500 Revolutions
- Macular Hole
- Retinal Detachment
- Diabetic Retinopathy
- Vitreous Hemorrhage
By End User:
- Ophthalmic Clinics
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Questions Covered 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 until 2027?
- Which are the factors hampering the growth in the vitrectomy machines market?
- Which region is expected to lead in the global vitrectomy machines market during 2022-2027?
- Which 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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