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Vitreoretinal Surgery Devices Market Trends

Report ID: GMI3417
Published Date: Jan 2022
Report Format: PDF

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Vitreoretinal Surgery Devices Market Trends

The rapidly aging population is anticipated to spur the industry progression in the coming years. The WHO data estimates that the geriatric population is slated to double in the years from 2015 to 2050. The elderly population aged above 60 years is poised to showcase threefold growth during 2010 and 2050, reaching about 1.3 billion. Moreover, as per the United Nations Population Fund (UNFPA) estimates, by the year 2050, approximately 25% individuals in Asia Pacific region will be aged more than 60 years. Eye-related disorders are increasingly prevalent among the elderly population as aging affects vision and the ability to focus.

The increasing elderly population affected with vision related conditions is set to fuel the vitreoretinal surgery devices market demand. The most frequent causes of vision impairment among the aging populace include the age-related macular degeneration, glaucoma, cataract, and diabetic retinopathy among others. Due to the increasing susceptibility and impaired vision, the prevalence of these disorders is commonly profound in people aged 60 and above.

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Market size of vitreoretinal surgery devices crossed $1.8 billion in valuation in 2021 and is anticipated to record more than 2.9% CAGR over 2022-2028.

Photocoagulation lasers surpassed $479 million in 2021 as these lasers can be used to treat a wide range of eye disorders, including diabetic retinopathy and age-related macular degeneration, among others.

The ambulatory surgical centers may capture a valuation of $374 million by 2028 as advanced and miniatured vitreoretinal surgery devices are being extensively used in these centers to increase a patient’s comfort and reduce the total surgical time.

The U.S. market is estimated to go past $815 million by 2028 as advanced surgical instruments are being developed on a large scale to combat the rising incidence of eye-related disorders in the country.

Reputed organizations, such as Alcon, Inc., MedOne Surgical, Inc., Bausch & Lomb, Inc., Designs for Vision, Inc., D.O.R.C. Dutch Ophthalmic Research Center (International) B.V., and Peregrine Surgical, among several others, are positively contributing to the global market forecast.