Advertisement
Australia markets closed
  • ALL ORDS

    8,153.70
    +80.10 (+0.99%)
     
  • ASX 200

    7,896.90
    +77.30 (+0.99%)
     
  • AUD/USD

    0.6510
    -0.0008 (-0.12%)
     
  • OIL

    83.11
    -0.06 (-0.07%)
     
  • GOLD

    2,254.80
    +16.40 (+0.73%)
     
  • Bitcoin AUD

    107,298.02
    -992.99 (-0.92%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • AUD/EUR

    0.6042
    +0.0008 (+0.13%)
     
  • AUD/NZD

    1.0903
    +0.0001 (+0.01%)
     
  • NZX 50

    12,105.29
    +94.63 (+0.79%)
     
  • NASDAQ

    18,254.69
    -26.15 (-0.14%)
     
  • FTSE

    7,952.62
    +20.64 (+0.26%)
     
  • Dow Jones

    39,807.37
    +47.29 (+0.12%)
     
  • DAX

    18,492.49
    +15.40 (+0.08%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     

Global Vitrectomy Devices Market By Application, By Product, By End Use, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027

The Global Vitrectomy Devices Market size is expected to reach $1. 5 billion by 2027, rising at a market growth of 6% CAGR during the forecast period. Vitrectomy refers to a surgical procedure utilized to eliminate vitreous gel from the eye.

New York, Dec. 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Vitrectomy Devices Market By Application, By Product, By End Use, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06188500/?utm_source=GNW
It is performed when there is retinal detachment with vitreous hemorrhage. Additionally, it is utilized for several repairs like the removal of scar tissue and treating small holes or tear in the macula. Vitrectomy assists in removing vitreous humor from the blood and in preventing retinal traction detachment. As a result, this streamlines the procedure of other ophthalmic surgeries and prevents further detachment of the retina throughout the same. In addition, vitrectomy also assists in restoring vision loss occurred because of bleeding of the vitreous humor.

The growing geriatric population and technological developments in surgical equipment are expected to act as catalysts for the growth and demand for vitrectomy devices in the market. Moreover, factors such as increasing awareness about cost-effective surgical procedures among the common population and usage of minimally invasive surgical equipment would create lucrative growth opportunities for the players operating in the vitrectomy devices market. Conversely, the growth of the vitrectomy devices market would be hampered by the less availability of effective healthcare services and sluggish penetration of healthcare technology in various emerging countries.

The growth of the market is further fueled by the increase in the occurrence of diabetes, which would further increase the probability of diabetic retinopathy. In addition, the vitrectomy market is expected to witness bright growth prospects due to the rising demand for vitrectomy because of its related benefits for offering support to other ophthalmic surgeries.

COVID-19 Impact

A majority of medical practices including ophthalmology has been adversely impacted by the global pandemic. It has been witnessed that approximately 1% to 3% of people with COVID-19 infection develop conjunctivitis. Therefore, to minimize human contact and curb the spread of coronavirus, ophthalmologists were encouraged not to perform ophthalmic surgeries throughout the pandemic except for emergency care. Several end-users in various regions are witnessing a reduction in ophthalmic surgeries like vitrectomy. Though, the government is undertaking many initiatives and is formulating guidelines to streamline medical care including ophthalmic surgeries such as vitrectomy throughout the pandemic. These factors are anticipated to support the market growth during the forecasting period.

Market Growth Factors:

High occurrence of retinal disorders

The increase in the occurrence of diabetic retinopathy and retinal detachment (RD) is directly boosting the demand for vitreoretinal surgery devices. A huge population base is suffering from diabetic retinopathy and eye disorders that have increased the awareness among the individuals regarding these conditions and other associated diseases.

Benefits of vitrectomy devices

Vitrectomy cleans the blood from vitreous humor that cannot be cleansed by the eye itself. The surgery avoids traction retinal detachment and assists in preventing further or subsequent detachment. In addition, it can also restore vision loss that occurred during bleeding of the vitreous humor. It treats and repairs massive tears in the retina and prevents scar tissues to develop new blood vessels. In addition, constant technological advancements such as convenience in the utilization of vitreoretinal surgery devices and automation are expected to increase sales and adoption of vitrectomy devices in the market.

Market Restraining Factor:

Low amount of awareness and less access to eye care in under-developed countries

Many emerging countries like India, Kenya, Saudi Arabia, South Africa, and Israel are witnessing a massive rural population and people belonging to this group have less or no knowledge and awareness about eye diseases. These economies are also witnessing declined or restricted access to sophisticated eye care. Scarcity and low availability of primary eye care are major factors boosting the rate of blindness. Moreover, the situation is further deteriorated by the absence of awareness and low access to quality eye care products in such countries.

Application Outlook

Based on Application, the market is segmented into Vitreous hemorrhage, Macular hole, Diabetic retinopathy, Retinal detachment, and Other Applications. The retinal detachment segment would display the fastest growth rate during the forecasting years. Additionally, retinal detachment is highly observed in patients having high myopia. The segment growth is fueled by the increase in the occurrence of high myopia around the world.

Product Outlook

Based on Product, the market is segmented into Vitrectomy Machines, Illumination Devices, Photocoagulation Lasers and Vitrectomy Packs. The vitrectomy machines segment obtained the maximum revenue share of the vitrectomy devices market in 2020. Factor such as the development of world-class machines with sophisticated features like high cut rates, improvised fluidics, intraocular pressure control, and small gauge size is responsible for the growth of this segment. For example, the Constellation Vision System of Alcon has fluidics that is suitable for small-gauge surgery, hence addressing the limitations of earlier machines.

End Use Outlook

Based on End Use, the market is segmented into Ophthalmology clinics, Hospitals and Ambulatory Surgical Centers. The hospital segment obtained the largest revenue share of the vitrectomy devices market in 2020. This is attributed to the surge in the adoption rate of vitrectomy surgeries in these settings. Numerous hospitals are providing ophthalmic care including vitrectomy, which would fuel the deployment of vitrectomy devices in these hospitals.

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Europe region is expected to witness a promising growth rate during the forecast period. Factors such as the increasing occurrence of eye disease, rise in R&D investments for the development of innovative products, and rising demand for technologically upgraded products are expected to unlock growth prospects for the regional vitrectomy devices market. Carl Zeiss Meditec, a company based in Germany in the ophthalmic devices market, is putting efforts towards R&D activities to provide advanced products in the European as well as global market.

The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Johnson & Johnson is the major forerunners in the Vitrectomy Devices Market. Companies such as Bausch Health Companies, Inc., Nidek Co., Ltd., Carl Zeiss AG are some of the key innovators in the market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Bausch Health Companies, Inc., Carl Zeiss AG, Johnson & Johnson, Topcon Corporation, Hoya Corporation, Alcon, Inc., Beaver-Visitec International, Inc. (TPG Capital), Blink Medical Ltd. (Katena Products, Inc.), Nidek Co., Ltd., and Lumenis Ltd.

Recent Strategies Deployed in Vitrectomy Devices Market

Partnerships, Collaborations, and Agreements:

Jun-2021: Bausch + Lomb signed an agreement with Lochan, a software development company. The agreement aimed to develop the next-generation of eyeTELLIGENCE clinical decision support software of Bausch + Lomb. With the help of the current cloud-based infrastructure of eyeTELLIGENCE, this analytical software is being developed to enable surgeons to smoothly combine every aspect of the cataract, retinal and refractive surgery processes to enhance their overall practice efficiency.

Acquisitions and Mergers:

Apr-2021: Katena Products completed the acquisition of ASICO, a company that provides high-quality ophthalmic surgical instruments to healthcare providers. The acquisition aimed to strengthen Katena Products’ ophthalmic surgical portfolio and expand its global reach. Following the acquisition, Katena Products would capitalize on ASICO’s network of popular clinical key-opinion-leaders that would offer its customers an even more-comprehensive value proposition.

Jan-2020: Hoya Surgical Optics, subsidiary of Hoya Corporation formed a joint venture with GeMax under the name HOYA GeMax Medical. HOYA GeMax Medical would boost commercial success by integrating sales and distribution from both companies into one unified business. Moreover, it would also enable the complete HSO portfolio of intraocular lenses, across the AF-1 and Vivinex platforms, to be more widely available to surgeons and patients across China.

Product Launches and Product Expansions:

Oct-2021: NIDEK launched Retina Scan Duo 2, a combined OCT and fundus camera system. The new product integrates the latest features that improve screening and clinical efficiency along with user-friendly features that were incorporated from the previous model.

Jul-2021: Johnson & Johnson Vision, a subsidiary of Johnson & Johnson, launched the VERITAS Vision System. The new system is an advanced phacoemulsification (phaco) system developed to improve three crucial areas viz. patient safety, surgeon efficiency, and comfort.

Dec-2020: NIDEK introduced B-scan Denoising Software for the NIDEK OCT series. This new software can convert a B-scan retinal OCT image to an HD image by a denoising technique with the help of deep learning.

Nov-2020: NIDEK rolled out the Mirante SLO model under Mirante portfolio of diagnostic multimodal imaging devices. The latest model is designed to fulfil the growing market demand for a model particularly with an SLO function that maintains sophisticated functionality and imaging capabilities.

Oct-2020: Hoya Surgical Optics, subsidiary of Hoya Corporation introduced CLEARlog which stands for Cataract & Lens Exchange Analysis & Register log. Through this launch, the company would enable Cataract and Refractive Lens Exchange (RLE) surgeons to rapidly and effectively record and analyze their cataract and RLE practice patterns and clinical results. Moreover, this product is developed by a practicing ophthalmologist to cater to the unfulfilled requirement for easy data collection and analysis of both objective and subjective outcome measures.

Jun-2020: BVI introduced CryoTreq in the European market. CryoTreq is the world’s first single-use, handheld cryo-surgery device for ophthalmology. The latest device would allow a minimally invasive ab externo approach to treating retinal tears and detachments, offering an alternative to laser photocoagulation, particularly for a lesion situated towards the interior of the eye.

Geographical Expansions:

Sep-2020: BVI expanded its geographical footprint by making its Malosa range of single-use ophthalmic instruments available in the US. Through this expansion, the company would provide US surgeons with a single-use option minimizing the operational inconsistency sometimes found with reusable instruments.

Approvals:

Apr-2021: Johnson & Johnson Vision, a subsidiary of Johnson & Johnson, received FDA’s approval and CE mark for its VERITAS Vision System. The system is an advanced phacoemulsification innovation and has capabilities that enable surgeons to guide through any lens density with less surge and more stability. The new system also offers developments in ergonomics to further improve usability during cataract surgery.

Apr-2021: Bausch + Lomb received approval by FDA for ClearVisc dispersive ophthalmic viscosurgical device for use in ophthalmic surgery. OVDs are crucial in ophthalmic surgery, and ClearVisc provides surgeons unique benefits that are developed to contribute to surgical safety and effectiveness and to allow excellent outcomes.

Jun-2020: Johnson & Johnson Vision got the Food and Drug Administration (FDA) 510(k) approval for the CATALYS Precision Laser System. The system features new CATALYS cOS 6.0 software with advanced astigmatism management. CATALYS cOS 6.0 along with advanced astigmatism management simplifies workflow, accelerates the surgical process, and enhances accuracy.

Scope of the Study

Market Segments covered in the Report:

By Application

• Vitreous hemorrhage

• Macular hole

• Diabetic retinopathy

• Retinal detachment

• Other Applications

By Product

• Vitrectomy Machines

• Illumination Devices

• Photocoagulation Lasers and

• Vitrectomy Packs

By End Use

• Ophthalmology clinics

• Hospitals and

• Ambulatory Surgical Centers

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Bausch Health Companies, Inc.

• Carl Zeiss AG

• Johnson & Johnson

• Topcon Corporation

• Hoya Corporation

• Alcon, Inc.

• Beaver-Visitec International, Inc. (TPG Capital)

• Blink Medical Ltd. (Katena Products, Inc.)

• Nidek Co., Ltd.

• Lumenis Ltd.

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06188500/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________

CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001