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The global Vitreous Tamponades Market is estimated to be valued at US$ 76.0 Mn in 2023 and is expected to exhibit a CAGR of 2.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Vitreous tamponades are medications or devices used during vitreoretinal surgery to help seal retinal tears or holes and maintain the position of detached retina against the inner surface of the eye. Common types of vitreous tamponades include gases, silicone oils, and perfluoron liquids. Vitreous tamponades play a key role in retinal repair after surgery for various retinal conditions such as retinal detachment, macular holes, and intraocular tumors. They help maintain the retina in proper position to facilitate healing. Growing prevalence of retinal disorders globally is expected to drive the demand for vitreous tamponades over the forecast period.
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Market Key Trends:
One of the key trends in the vitreous tamponades market is the increasing adoption of silicone oils. Silicone oils have emerged as an effective alternative to traditional gases for complicated retinal detachment surgeries. Advantages of silicone oils over gas tamponades include prolonged intraocular tamponade effect lasting several months as compared to gas tamponades lasting only 1-2 weeks. Also, silicone oils do not require strict posture control post-surgery. This has led to growing preference of silicone oils among retinal surgeons. Manufacturers are also focusing on developing improved silicone oil formulations with lower viscosities to enable easier injection and removal from the eye. Another notable trend is the increasing research on new generation tamponades. Several startups are exploring biodegradable polymers and hydrogels as next-gen tamponade agents to minimize side effects and complications associated with permanent silicone oils such as glaucoma and cataracts. This is expected to open up new growth avenues over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as setting up of production facilities requires high initial investments, regulations and established brands. However, the market is growing which can attract new players.
Bargaining power of buyers: The bargaining power of buyers is moderate as the market is dominated by few global players. However, the buyers can choose from various substitutes available.
Bargaining power of suppliers: The bargaining power of suppliers is low due to availability of substitute raw materials suppliers and commodity nature of raw materials.
Threat of new substitutes: The threat of new substitutes is moderate. Emergence of new modern vitreous tamponades and surgical procedures can impact the growth.
Competitive rivalry: High due to presence of global brands and private labels competing on basis of product differentiation, pricing and quality.
Key Takeaways
The global Vitreous Tamponades market is expected to witness high growth, exhibiting CAGR of 2.5% over the forecast period, due to increasing vitreoretinal procedures and technological advancements.
Regional analysis: The market is dominated by North America owing to advanced healthcare infrastructure and reimbursement facilities. Asia Pacific is expected to witness the fastest growth during the forecast period owing to increasing healthcare spending, rising medical tourism and growing vitreoretinal surgeries.
Key players operating in the Vitreous Tamponades market are Alchimia srl, Alcon, Inc., Bausch Health Companies Inc., Carl Zeiss Meditec AG, Croma-Pharma GmbH, Dutch Ophthalmic Research Center (International) B.V., and Fluoron GmbH. Key players are focusing on new product launches and geographical expansion to strengthen their market presence.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
