US and Europe Vitrectomy Devices Market to Grow at a CAGR of 6.6% to reach US$ 1,203.52 Million from 2021 to 2028

The US and Europe vitrectomy devices market is expected to reach US$ 1,203.52 million by 2028 from US$ 770.12 million in 2021; it is estimated to grow at a CAGR of 6.6% from 2021 to 2028.

The US and Europe vitrectomy devices market is segmented on the basis of product, application, patient type, surgery approach, end user, distribution channel, and country. The report offers insights and in-depth analysis of the market, emphasizing various parameters such as market trends and opportunities, market dynamics, and competitive landscape analysis of leading market players across the US and Europe. It also includes the impact analysis of COVID–19 pandemic across the regions.

Lucrative Regions for Vitrectomy Devices Market

Market Insights

Significant Rise in Elderly Population

Various economies across the world, such as the US, and the UK, are witnessing considerable modernization of healthcare facilities and improvements in healthcare services. With this, the life expectancy of people has in these countries, leading to a growth in their geriatric population base. According to the data by the WHO, in February 2018, the geriatric population is estimated to rise from 12% in 2015 to 22% by 2050. Ophthalmic diseases constitute a significant health problem among older people. Age-related macular degeneration resulting in loss of central vision, glaucoma, retinal detachment, cataracts, and diabetic retinopathy are among the most common ophthalmic diseases among geriatric population. Diabetic retinopathy is also common among older people during the early stages of diabetes or at the time of diagnosis.

Retinal detachments can happen to anyone at any age but they are more common in the elderly people. The separation of vitreous from the retina often causes retinal detachments and a posterior vitreous detachment (PVD) causes this separation. The majority of PVDs do not cause long-term harm to the eye but they can produce retinal tears in some people, progressing to a retinal detachment. With the potential of implementing new technologies, such as vitrectomy, the procedure's outcome is improved and the risk of complications, such as retinal detachment, retinal tear, and macular edoema (swelling), is reduced. It is an enormous investment up front, but it could improve patient outcomes.

Product-Based Insights

Based on product, the US and Europe vitrectomy devices market is segmented into vitrectomy accessories, vitrectomy machines, microscopic illumination equipment, surgical instruments, and others. The vitrectomy machines segment held the largest share of the market in 2021. However, the vitrectomy accessories segment is anticipated to register the highest CAGR of 7.2% in the market during the forecast period.

US and Europe Vitrectomy Devices Market, by Product – 2021 & 2028

Application-Based Insights

Based on application, the US and Europe vitrectomy devices market is segmented into diabetic retinopathy, retinal detachment, epiretinal membrane, macular hole, and others. The diabetic retinopathy segment held the largest share of the market in 2021. However, the retinal detachment segment is anticipated to register the highest CAGR of 7.2% in the market during the forecast period.

Patient Type-Based Insights

Based on patient type, the US and Europe vitrectomy devices market is segmented into adult, pediatrics, and geriatric. The geriatric segment held the largest share of the market in 2021, and the same segment is anticipated to register the highest CAGR of 7.2% in the market during the forecast period.

Surgery Approach-Based Insights

Based on surgery approach, the US and Europe vitrectomy devices market is bifurcated into posterier/pars plana vitrectomy and anterior vitrectomy. The posterier/pars plana vitrectomy segment held a larger share of the market in 2021, and the same segment is anticipated to register a higher CAGR of 6.9% in the market during the forecast period.

End User-Based Insights

Based on end user, the US and Europe vitrectomy devices market is segmented into hospitals, ophthalmology clinics, and ambulatory surgery centers (ASCs). The hospitals segment held the largest share of the market in 2021. However, the ophthalmology clinics segment is anticipated to register the highest CAGR of 7.2% in the market during the forecast period.

Distribution Channel-Based Insights

Based on distribution channel, the US and Europe vitrectomy devices market is segmented into direct tenders, third party distributors, and retail sales. The retail sales segment held the largest share of the market in 2021, and the same segment is anticipated to register the highest CAGR of 7.1% in the market during the forecast period.

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US and Europe Vitrectomy Devices Market: Strategic Insights

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Companies commonly adopt inorganic strategies such as mergers and acquisitions to meet changing customer demand and maintain their brand name worldwide. Players operating in the US and Europe vitrectomy devices market also adopt organic strategies such as product launch and expansion to outstretch their footprint and product portfolio worldwide.

By Product

• Vitrectomy Accessories
• Vitrectomy Machines
• Microscopic Illumination Equipment
• Surgical Instruments
• Others

By Application

• Diabetic Retinopathy
• Retinal Detachment
• Epiretinal Membrane
• Macular Hole
• Others

By Patient Type

• Adult
• Pediatrics
• Geriatric

By Surgery Approach

• Posterier/Pars Plana Vitrectomy
• Anterior Vitrectomy

By End User

• Hospitals
• Ophthalmology clinics
• Ambulatory Surgery Centers (ASCs)

By Distribution Channel

• Direct tenders
• Third party distributors
• Retail sales

By Country

• US
• UK
• Germany
• France
• Italy
• Spain
• Rest of Europe 

Company Profiles

• D.O.R.C Dutch Opthalmic Research Center (International) B.V
• HOYA Corporation
• NIDEK CO., LTD
• Danaher
• Carl Zeiss Meditec
• Alcon Inc.
• Iridex Corporation
• Bausch Health Companies Inc.
• GEUDER AG
• Topcon Corporation
• Optos

Report Scope

US and Europe Vitrectomy Devices Market Regional Insights

The regional trends and factors influencing the US and Europe Vitrectomy Devices Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses US and Europe Vitrectomy Devices Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

US and Europe Vitrectomy Devices Market Report Scope

US and Europe Vitrectomy Devices Market Players Density: Understanding Its Impact on Business Dynamics

The US and Europe Vitrectomy Devices Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the US and Europe Vitrectomy Devices Market are:

1. D.O.R.C Dutch Opthalmic Research Center (International)B.V
2. HOYA Corporation
3. NIDEK CO., LTD
4. Danaher(Leica Microsystems AG)
5. Carl Zeiss Meditec

Disclaimer: The companies listed above are not ranked in any particular order.