Global vitreous tamponades market is estimated to witness high growth, owing to rising cataract surgeries and increasing geriatric population
Global vitreous tamponades market is estimated to be valued at USD 84.7 Mn in 2024, exhibiting a CAGR of 3.5% over the forecast period 2024-2031. The market growth is driven by rising prevalence of eye diseases such as diabetic retinopathy, retinal detachment, and macular holes. Furthermore, increasing number of cataract surgeries performed worldwide also drives the market growth.
Market Dynamics:
Rising number of cataract surgeries can drive the global vitreous tamponades market growth. According to the statistics by the World Health Organization (WHO), cataract surgery is one of the most commonly performed surgical procedures worldwide, with an estimated over 26 million procedures performed annually. Furthermore, with aging population and rising burden of eye diseases, there has been increase in number of cataract surgeries performed during the forecast period. This boosts demand for vitreous tamponades that are used during these surgeries. Growing geriatric population can also drive the market growth. Old age is a major risk factor for various eye diseases. Expanding aging demography can increase prevalence of eye diseases in the near future.
Rising Prevalence of Eye Diseases Can Drive Global Vitreous Tamponades Market Growth
Eye diseases such as retinal detachment, diabetic retinopathy and macular hole have been increasing globally due to risk factors like aging population, obesity, diabetes and myopia. Vitreous tamponades are used during vitreoretinal surgeries to treat various posterior segment eye diseases. With growing burden of eye diseases, there has been demand for vitreous tamponades. Various studies have found the prevalence of retinal detachment to be around 1 in 10,000 people globally. As there is no permanent cure for retinal detachment and it can lead to blindness if not treated on time. Vitreous tamponades play a crucial role in the successful treatment of this condition.
Increasing Awareness and Screening Programs Can Drive Market Growth
Various public as well as private organizations have started several awareness and screening programs to educate people about early detection and treatment of eye diseases. For instance, organizations like American Academy of Ophthalmology (AAO) conduct regular diabetes eye screening programs across the U.S. to check for retinal damage in diabetic patients. Such initiatives help to identify eye problems at an early stage when these can be easily treated. Early detection leads to early surgery requiring vitreous tamponades. Growing awareness enables more people to seek timely treatment and boosts sales of vitreous tamponades.
Stringent Regulatory Standards Can Hamper Market Growth
Vitreous tamponades are classified as medical devices and are subjected to stringent regulatory approvals and quality standards set by authorities like the FDA and EU MDR. Obtaining these approvals involves extensive clinical testing and documentation which makes the overall product development and commercialization process very lengthy and costly. Moreover, any changes post approval may require additional reviews causing compliance issues for manufacturers. The lengthy and expensive regulatory procedures negatively impact the market growth as it delays the entry of new and innovative products.
Recalls Due to Product Defects Dampen Customer Confidence
Vitreous tamponades are implanted inside the eye during surgery, thus, making product quality a matter of utmost importance. However, sometimes manufacturers issue product recalls due to defects like particulates, endotoxins or packaging issues. For instance, in 2020, Bausch & Lomb issued a Class 2 recall of its Ocucoat viscoelastic products due to particulate contamination. Such recalls erode customer confidence in the quality standards and taint the brand image. With single usage and direct implantation, even minor quality lapses can impact clinical outcomes and brand loyalty in this market.
Growing Ophthalmology Tourism to Asia and Latin America Offers New Opportunities
Countries in Asia Pacific like India, Thailand and Latin American countries like Brazil, Mexico are emerging as popular medical tourism destinations due to their state-of-the-art healthcare facilities and significantly lower treatment costs compared to developed markets. Even vitamin tamponades surgeries are no exception. Owing to factors like growing medical infrastructure, skilled surgeons and affordable care, an increasing number of patients are travelling to these regions for vitreoretinal surgeries. This rising inflow of medical tourists offer a lucrative opportunity for local vitreous tamponades manufacturers to increase overseas sales.
Rising Disposable Incomes in Developing Markets
Developing economies across Asia Pacific, Latin America, Middle East and Africa are witnessing substantial economic growth that leads to rise in disposable incomes of people. This enables more individuals to afford advanced eye care and vitreoretinal surgeries. For example, China, India and other Asian countries now have a large population base that can spend on healthcare. Vitreous tamponades manufacturers can tap into this unmet demand by offering affordable products calibrated to budget of consumers in emerging markets.
Link - https://www.coherentmarketinsights.com/market-insight/vitreous-tamponades-market-1193
Key Development
- In August 2023, according to the data published by MJH Life Sciences, a collaborative U.S.-German study showed that early vitrectomy using silicone oil tamponade improves visual acuity and carries a low complication rate in managing postoperative endophthalmitis
Key Players: Alcon, Inc., Bausch & Lomb Incorporated , Novartis AG, Dutch Ophthalmic Research Center, Carl Zeiss Meditec AG, FCI Ophthalmics, Rayner Intraocular Lenses Limited, Arcadophtha, AL.CHI.MI.A Srl, MedOne Surgical, Inc., Tamponades Retinal (TRB) Chemedica AG, Endo Optiks, Inc. , Fluoron GmbH, Refined Chemicals Pharmaceutical Company (RCP), Guangzhou Vesber Biotechnology Co., Ltd.
