Asia Pacific Vitrectomy Devices Market By Application (Vitreous hemorrhage, Macular hole, Diabetic retinopathy, Retinal detachment, and Other Applications), By Product (Vitrectomy Machines, Illumination Devices, Photocoagulation Lasers and Vitrectomy Packs), By End Use (Ophthalmology clinics, Hospitals and Ambulatory Surgical Centers), By Country, Opportunity Analysis and Industry Forecast, 2021 - 2027
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Market Report Description
The Asia Pacific Vitrectomy Devices Market would witness market growth of 7.4% CAGR during the forecast period (2021-2027).
Among all the vitreoretinal surgery devices, vitrectomy accessories would remain mostly preferred device. The increased incidences of retinal detachment are directly proportional to the high consumption of vitrectomy accessories in procedures in comparison with other disposable vitreoretinal surgery devices. As a result, the sales and demand for vitreoretinal surgery device accessories are expected to increase in upcoming years. Additionally, the adoption of vitreoretinal surgery devices would be driven by the economic cost of these devices.
The majority of the disorders and diseases that cause sudden blindness and visual disabilities are easily curable with popular & cost-effective therapies or mediations, and it is possible to restore normal vision with cataracts, reattachment, or intervention surgery. These factors are expected to unlock growth prospects for the vitreoretinal devices in the market. As per the study by WHO, 90% of the visually impaired population falls under low-& middle-income nations. This section of the population is not aware of the preventive care for sudden vision loss, quality rehabilitation, and available curative services which are anticipated to create new growth avenues for the middle-income nations.
South Asia and East Asia have significant growth opportunities for the players operating in the regional vitrectomy devices market. The entry of new makers of vitrectomy devices market is expected to be streamlined with rapid technological upgradations in Japan and fast-growing countries like India and China and growing focus of the makers of vitrectomy devices in these countries along with the less manufacturing cost.
Factors like constantly increasing population in countries like India and China, drastic rise in the geriatric population, increase in healthcare requirement for eye care, and advanced healthcare infrastructure is acting as catalysts for the growth of the regional vitrectomy devices market. Moreover, the regional players are willing to introduce innovative devices in the regional market with an aim to cater to the rising demand for quality eye care. Thus, these factors are expected to create lucrative growth opportunities for the players operating in the regional vitrectomy devices market during the forecasting period.
The China market dominated the Asia Pacific Hospitals Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $50.4 million by 2027. The Japan market is showcasing a CAGR of 7.9% during (2021 - 2027). Additionally, The India market is poised to grow at a CAGR of 7.9% during (2021 - 2027).
Based on Application, the market is segmented into Vitreous hemorrhage, Macular hole, Diabetic retinopathy, Retinal detachment, and Other Applications. Based on Product, the market is segmented into Vitrectomy Machines, Illumination Devices, Photocoagulation Lasers and Vitrectomy Packs. Based on End Use, the market is segmented into Ophthalmology clinics, Hospitals and Ambulatory Surgical Centers. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Bausch Health Companies, Inc., Carl Zeiss AG, Johnson & Johnson, Topcon Corporation, Hoya Corporation, Alcon, Inc., Beaver-Visitec International, Inc. (TPG Capital), Blink Medical Ltd. (Katena Products, Inc.), Nidek Co., Ltd., and Lumenis Ltd.
Scope of the Study
Market Segments Covered in the Report:
- Vitreous hemorrhage
- Macular hole
- Diabetic retinopathy
- Retinal detachment
- Other Applications
- Vitrectomy Machines
- Illumination Devices
- Photocoagulation Lasers and
- Vitrectomy Packs
By End Use
- Ophthalmology clinics
- Hospitals and
- Ambulatory Surgical Centers
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Bausch Health Companies, Inc.
- Carl Zeiss AG
- Johnson & Johnson
- Topcon Corporation
- Hoya Corporation
- Alcon, Inc.
- Beaver-Visitec International, Inc. (TPG Capital)
- Blink Medical Ltd. (Katena Products, Inc.)
- Nidek Co., Ltd.
- Lumenis Ltd.
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