Vitreoretinal surgery is a surgery of the eye for treatment of complication related to retina, vitreous fluid and macula. Vitreoretinal surgery procedures commonly include retinal tears, diabetic retinopathy, retinal detachments, ocular trauma, macular degeneration, ocular tumor treatment and hereditary retinal disease treatment. Eye is a very delicate organ and performing an eye surgery requires precision for which doctors use various assistive devices while performing vitreoretinal surgeries.
Increasing number of vitreoretinal surgeries globally is expected to boost demand for vitreoretinal surgery devices over the forecast period. Vitreoretinal surgeries are more common among geriatric population. Growing global geriatric population is expected to increase demand for vitreoretinal surgeries which in turn is directly expected to propel the sales of vitreoretinal surgery devices over the forecast period. According to the statistics from the World Bank Group, nearly 8.2% of the global population is aged above 65 years. The incidence and prevalence vitreoretinal complications among the geriatric population is high as compared to the younger population and therefore with the rising geriatric population the number of vitreoretinal surgeries is expected to witness high demand. According to the United Nations report on the World Population Ageing, 2013 the global population of people above 60 years of age will reach 2 billion by 2050.
Growing number of eye disorders is also expected to propel demand for vitreoretinal surgery devices over the forecast period. According to the World Health Organization there were nearly 285 million visually impaired people globally. The increasing incidence of visual disorders are expected to create high opportunities for vitreoretinal surgery devices manufacturers. Moreover recent technological developments like automation and ease of use of the vitreoretinal surgery devices is expected to boost sales and increase adoption of vitreoretinal surgery devices over the forecast period.
The global vitreoretinal surgery devices market is expected to witness robust growth over the forecast period owing to rising geriatric population, increasing incidence of visual disorders and growing adoption of automated surgery devices among end users. Incresing number of people opting for eye surgeries for treatment of visual impairment in low and middle income countries is also expected to provide high growth opportunities for manufacturers of vitreoretinal surgery device manufacturers.Regionally the global vitreoretinal surgery devices market is segmented into seven regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan and Middle East and Africa (MEA).
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The vitreoretinal surgery devices market is expected to witness healthy growth during the forecast period. APEJ region is expect to show the robust growth due to the increased number in diabetic patients suffering from diabetic retinoplasty. Also, this market is expected to be primarily driven by increasing healthcare expenditure in China and India and high geriatric population in this region. North America is expected to dominate the overall vetreoretinal surgery devices market throughout the forecast period. The North America proves to be a huge market as around 9% of the ophthalmologist present worldwide are in U.S. North America is followed by Western Europe and APEJ. In terms of opportunities, North America is expected to be the most lucrative market during the forecast period. Latin America and MEA are expected to account for marginal share. These regions are yet to flourish. Companies need to create promotional campaign regarding potential benefits for eye treatment and eye care.
Some market players in global vitreoretinal surgery devices market are Alcon, Inc. (Novartis AG), Bausch & Lomb Inc., Carl Zeiss Meditec AG, MedOne Surgical, Inc., OCULUS Optikgeräte GmbH