New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Vitreoretinal Surgery Devices Global Market Report 2023" - https://www.reportlinker.com/p06486547/?utm_source=GNW
O.R.C. Dutch Ophthalmic Research Center (International) B.V., Paragon Care Group Pvt. Ltd., Topcon Corporation, Geuder AG, IRIDEX Corporation, Ellex Medical Lasers, Erbe Elektromedizin, Design For Vision Inc., and BVI Medical Inc.
The global vitreoretinal surgery devices market is expected to grow from $1.7 billion in 2022 to $1.99 billion in 2023 at a compound annual growth rate (CAGR) of 6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The vitreoretinal surgery devices market is expected to reach $2.43 billion in 2027 at a CAGR of 5.2%.
The vitreoretinal surgery devices market consists of sales squeezers, luer locks, forceps, and surgical instruments.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Vitreoretinal surgery devices are specialized medical instruments that have typically incorporated a peristaltic pump, a venturi pump, or a combination of both to manage fluids.It is used for the removal of core vitrectomy, membrane cutting, and hyaloid and vitreous bases.
These vitreoretinal surgical instruments feature improved flow control and less retinal traction.
North America was the largest region in the vitreoretinal surgery devices market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in vitreoretinal surgery devices report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of vitreoretinal surgery devices are photocoagulation lasers, illumination devices, vitrectomy machines, vitrectomy probes, vitreoretinal packs, and others.Photocoagulation lasers refer to medical devices that are used to shrink or destroy abnormal structures in the retina.
The various surgery includes anterior vitreoretinal surgery, and posterior vitreoretinal surgery. These are used in various applications such as diabetic vitreous hemorrhage, retinal detachment, macular hole, and others, used by various end-users such as hospitals, specialty clinics, ambulatory surgery centers, and others.
Growing incidences of eye disorders are expected to propel the growth of the vitreoretinal surgery device market going forward.Eye disorders refer to non-neoplastic or neoplastic disorders that affect the eye.
Vitreoretinal surgery devices are used to treat eye diseases such as macular degeneration, cataracts, diabetes-related retinopathy, glaucoma, and retinal detachment.For instance, in December 2022, according to the Centers for Disease Control and Prevention, a US-based federal agency, in the United States, 12 million persons aged 40 and older would have vision impairment, of which 1 million are blind, 3 million have it after having their vision corrected, and 8 million have it because of uncorrected refractive error.
Therefore, the increasing incidence of eye disorders drives the vitreoretinal surgery device market.
Product innovation is a key trend gaining popularity in the vitreoretinal surgery device market.Companies operating in the vitreoretinal surgery device market are working on new product innovations to sustain their position in the market.
For instance, in June 2020, BVI, a US-based medical device manufacturer, launched a new vitreoretinal surgery device called CryoTreq, the world’s first single-use handheld cryo-surgery device expanding its vitreoretinal portfolio.This device revolutionizes the treatment of retinal tears and detachments.
This stand-alone cryosurgery tool operates without external connections to machinery, gas tanks, or power and is service- and maintenance-free.
In October 2022, DORC Dutch Ophthalmic Research Center (International) BV, a Netherlands-based medical device manufacturer, acquired Peregrine Surgical LLC and WEFIS GmbH for an undisclosed amount.With this acquisition, DORC expands its manufacturing capabilities, supporting the strategic goal of reaching the #2 position in the US retina market and would drive the development of laser and illumination technologies.
Peregrine Surgical LLC is a US-based medical device manufacturer of devices that are used in vitreoretinal surgeries. WEFIS GmbH is a Germany-based company that manufactures vitreoretinal surgical instruments.
The countries covered in the vitreoretinal surgery devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The vitreoretinal surgery devices market research report is one of a series of new reports that provides vitreoretinal surgery devices market statistics, including vitreoretinal surgery devices industry global market size, regional shares, competitors with a vitreoretinal surgery devices market share, detailed vitreoretinal surgery devices market segments, market trends, and opportunities, and any further data you may need to thrive in the vitreoretinal surgery devices industry. This vitreoretinal surgery devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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