The vitrectomy devices market has been anticipated to experience significant growth avenues in the forthcoming years. This increasing market growth is due to increasing cases of retinal disease. Further, there are innumerable factors that are responsible for the disease. Diabetes also put a negative effect on the health of the eyes that leads to vision loss while impacting the retina’s blood vessels. Owing to these factors, the vitrectomy devices market has been expected to create growth opportunities in the market during the forecast period.
Vitrectomy assists to clear out the vitreous humor blood. It also prevents traction retinal detachment. As a result, this smoothens the procedure of other different ophthalmic surgeries and also avoids any further detachment of the retina. In addition to this, vitrectomy is also helpful in restoring the vision loss that is caused because of the vitreous humor bleeding. All these factors further lead to an increased demand for vitrectomy devices. So the key players operating in the market are taking initiatives to showcase advancements that are made in the retina space. Owing to these factors, the vitrectomy devices market has been predicted to experience significant growth opportunities in the forthcoming years.
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Vitrectomy Devices Market: Key Trends
The COVID-19 pandemic has put a negative impact on different medical practices that includes ophthalmology. Conjunctivitis has been observed among people suffering from coronavirus. So, in order to control the infection, the ophthalmologists have been urged not to perform any ophthalmic surgeries during the COVID-19 except emergency cases. Different end-users across the world are experiencing a significant decrease in ophthalmic surgeries. But the government from different countries is taking various initiatives and is providing guidelines in order to ease the adoption of medical care during the pandemic. Owing to these factors, the vitrectomy devices market has been estimated to experience significant growth opportunities in the upcoming years.
The hospital segment has been predicted to dominate in the market growth in the upcoming years. This market segment is likely to contribute to a major portion of the market revenue. Owing to the increased adoption of vitrectomy surgeries, the market has been anticipated to experience significant growth opportunities in the forthcoming years. Various hospitals are providing ophthalmic care such as vitrectomy that is likely to bolster the installation of the vitrectomy devices.
Vitrectomy Devices Market: Competitive Dynamics and Key Developments
The key players operating in the vitrectomy devices market have been adopting various strategies to bolster growth avenues in the forthcoming years. Strategic collaborations, geographical expansion, product approvals, mergers, acquisitions, partnerships, and novel product launches are used by the key companies to generate expansion avenues in the market.
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For instance, Hoya Surgical Optics has acquired Fritz Ruck and MID Labs in 2019. This acquisition is estimated to help Hoya leverage machines, cutters, and some other vitreoretinal surgical products of MID Lab. It will finally lead to the expansion of the product portfolio of Hoya.
Some prominent players in the global vitrectomy devices market include:
- Hoya Surgical Optics
- Carl Zeiss Meditec AG
- Topcon Corporation
- Blink Medical
- Johnson & Johnson Vision Care, Inc.
- NIDEK CO., LTD.
- Bausch & Lomb Incorporated
- Alcon Inc.
Vitrectomy Devices Market: Regional Assessment
The vitrectomy devices market is spread across various geographical locations around the world including North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America. Among these, the North America region has been expected to hold a significant position with its major contribution to the market revenue. This market dominance is due to the rising prevalence of retinal detachment, macular hole, and diabetic retinopathy. In addition to this, the presence of key players in the region is estimated to fuel growth opportunities in the market.
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