Vitrectomy Devices Market Share

Global Vitrectomy Devices Market Overview

The Vitrectomy Devices Market Size was valued at USD 8.85 Billion in 2023. The Global Vitrectomy Devices industry is projected to grow from USD 9.40 Billion in 2024 to USD 15.36 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.88% during the forecast period (2024 - 2032). Vitrectomy devices are essential medical accessories and tools required for vitrectomy. A vitrectomy is a type of eye surgery that treats different conditions related to vitreous and retina. The major signs and symptoms of eye problems are seeing floating cobwebs or specks, distorted or blurred vision, faults in the side vision, and lost vision. The surgery is done to remove and replace the vitreous with another solution. Vitreous is a gel-type of substance, which is filled in the middle of the eye. To certify, the surgery is concluded with safety and ideal results, particular vitrectomy surgery equipment, such as vitrectomy supplies and systems, are used. The commonly used vitrectomy devices are vitrectomy machines, tamponades, scissors, light pipes, probes, and lasers. 

The advanced vitrectomy techniques offer the latest technological advancements and high performance to enable surgeons are to provide the optimal care for the patients. The technique is also used to avoid traction in retinal detachment. This causes smoothening of the procedure for different ophthalmic surgeries also prevents detachment of the retina anymore. Moreover, vitrectomy allows restoring of the vision loss due to the vitreous humor bleeding. The growing number of cases of retinal damage and eye problems due to the rising geriatric population is one of the key factors attributing to the market growth. As per National Institute on Aging (NIA), the old-aged people numbers are anticipated to achieve 72 million by 2030, which will drive ophthalmic disorders. Furthermore, rising cases of hospital admissions for retinal surgeries such as vitrectomy is estimated to propel the market growth. 

COVID-19 Analysis

The occurrence of the pandemic has impacted people across the globe and caused in the shutdown of operational facilities worldwide. The healthcare industry is facing exceptional encounters during the lockdown phase. The manufacturing units were shut down, which also affected the production of medical products. The supply chain of the medical products was also affected, leading to the decrease in warehouse inventory of the manufactured products.

COVID-19 negatively impacted the global vitrectomy devices market owing to the reduced medical setting visits of ophthalmic care hospitals to prevent the prevalence of infection. Furthermore, patients suffering with COVID-19 have to witness ophthalmic problems such as conjunctivitis that is responsible for the restriction of the medical professionals to operate the ophthalmic surgeries. The introduction of guidelines by the government to provide effective and constant medical care along with ophthalmology is expected to propel the market growth during the forecast period.

In March 2024, ABVC BioPharma, Inc., a biopharmaceutical company focused on developing treatments for eye diseases, central nervous system disorders, and cancer/blood disorders, announced that both the company and its subsidiary, BioFirst Corporation, have entered into a worldwide licensing agreement with ForSeeCon Eye Corporation (FEYE) for ABVC's Ophthalmology pipeline. This pipeline includes the medical device Vitargus®, which has been valued at $187 million by a third-party evaluator. This license will encompass the clinical trial, registration, manufacturing, supply, and distribution rights of the Licensed Products. Under the terms of the newly established licensing agreement, ABVC will maintain its role as the research and development partner of ForSeeCon, focusing on the exploration of novel avenues for ophthalmic product development. Our platform is committed to presenting the highest quality eyecare, ranging from improved vitreous replacements to a variety of eyecare items.

Vitrectomy Devices Market Trends

Drivers

• Increasing prevalence of diabetes
  
  
  
  • The high prevalence of diabetes has resulted in an increased number of cases of diabetic retinopathy. It is a condition that occurs due to damage to the retina's blood vessels of people with diabetes. People with diabetes type 1 or type 2 are more susceptible to developing diabetic retinopathy. There are two types of diabetic retinopathy Nonproliferative Diabetic Retinopathy (NPDR) and Proliferative Diabetic Retinopathy (PDR).
  
  
  • According to the International Diabetes Federation (IDF), nearly 463 million adults aged 20-79 years were suffering from diabetes. This is estimated to rise to 700 million by the year 2045. The increasing prevalence of eye injuries, retinal disorders, and diabetes are the major driving factor for the market.
  
  
  
  


• Increasing awareness related to eye-related diseases and available treatment options


• Growing demand for minimal invasive techniques for eye surgeries is bolstering the market development

 Market Restraints

• Concerns related to the risk of vitrectomy
  
  
  
  • The risks linked with vitrectomy are anticipated to hamper the market growth. There is a high chance of cataract occurrence in patients' undergone vitrectomy, hindering its acceptance. Furthermore, the deficiency of professional ophthalmologists for the operations of advanced vitrectomy devices has restricted the growth of the global vitrectomy devices market.
  
  
  
  

Technology Analysis

The vitrectomy devices are the devices used for performing a vitrectomy. These devices allow the surgeon to carry out the surgery efficiently with low invasionThe devices are advanced and make the surgery less invasive. The technological advancements in the field is introducing highly advanced devices. These devices are of great application for the development of the market in the projected time period. Looking forward, robotics will play a major role in vitrectomy. The technology will enable the surgeon to perform gentle tasks without damaging adjacent tissues. Some of the latest improvements are 27-ga. Vitrectomy systems. It includes 3-D imaging as well as a 4K resolution camera. This allows the surgeons to operate on a patient with ease and accuracy.

Vitrectomy Devices Market Segment Insights

Vitrectomy Devices Product Insights