The most recent study conducted by Report Ocean, titled “Global Vitrectomy Devices Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Vitrectomy Devices. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Vitrectomy Devices Market to reach USD 1.7 billion by 2027.Global Vitrectomy Devices Market is valued approximately USD 1.1 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 6.20 % over the forecast period 2021-2027. Vitrectomy is a surgical procedure used in the treatment of different retinal diseases such as macular hole, diabetic retinopathy, and macula pucker, to remove vitreous gel from the eye.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
It is preferred when there is a retinal detachment with vitreous hemorrhage. It is also used for various treatments such as removal of scar tissue and repair for small holes or tear in the macula. Increasing geriatric population is propelling the market. .
For instance, according to World Population Ageing, the world population aged above sixty years, or more was 962 million in 2017, which was more than twice as large as it was in 1980 when there were only 382 million older persons globally. The number of geriatric persons is estimated to double again by 2050, and it is estimated to grow and reach nearly 2.1 billion.
Technological innovation and advancements in surgical equipment used in medical field will enhances the market growth. However, shortage of efficient healthcare treatments and slow perforation of healthcare technology impedes the growth of the market over the forecast period of 2021-2027. Also, increasing use of minimally invasive operational equipment and growing awareness regarding cost-effective surgical treatment among populace is likely to increase the market growth during the forecast period.
The regional analysis of global Vitrectomy Devices Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the significant region across the world in terms of market share owing to expanding cases of diabetic retinopathy and presence of a large patient pool suffering from retinal problems. Whereas Asia-Pacific is also anticipated to exhibit highest growth rate over the forecast period 2021-2027. Factors such as increasing healthcare expenditure in invasive surgical equipment would create lucrative growth prospects for the Vitrectomy Devices Market across Asia-Pacific region.
Major market player included in this report are:
OPTOS PLC.
LUMENIS LTD.
TOPCON CORPORATION
NIDEK CO., LTD.
LEICA MICROSYSTEMS GMBH
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CARL ZEISS MEDITEC AG
ALCON, INC
IRIDEX CORPORATION
SYNERGETICS, INC
BAUSCH & LOMB INC.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Vitrectomy Packs
Vitrectomy Machines
Microscopic Illumination Equipment
Surgical Instruments
Others
By Application:
Diabetic Retinopathy
Retinal Detachment
Epiretinal Membrane
Macular Hole
Others (Eye Infections and Eye Injuries)
By Region:
North America
U.S.
Canada
Europe
UK
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Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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