USD 339.18 million
Global Glaucoma Surgery Devices Market Size, Share, Growth Analysis, By Product(Glaucoma drainage devices, glaucoma laser systems), By End-User(Hospitals, ophthalmic clinics) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2402 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
64 |
Figures:
75
Global Glaucoma Surgery Devices Market Insights
Glaucoma Surgery Devices Market size was valued at USD 339.18 million in 2021 and is poised to grow from USD 530.13 million in 2022 to USD 3.19 million by 2030, at a CAGR of 25.14% during the forecast period (2023-2030).
The glaucoma surgery devices market is poised for substantial growth in the future, driven by key market factors that dominate the industry. One of the major drivers is the increasing global prevalence of glaucoma, fueled by the growing aging population. As glaucoma incidence rises, there is a growing demand for effective surgical interventions. Furthermore, advancements in surgical techniques and technologies have significantly enhanced the success rates and safety of glaucoma surgeries, further propelling market growth. Minimally invasive procedures, such as glaucoma drainage devices and laser systems, have gained traction due to their ability to reduce complications and improve patient outcomes. This shift towards less invasive approaches has contributed to the expansion of the market. Additionally, the rising awareness among patients and healthcare professionals about the importance of early detection and treatment of glaucoma has resulted in increased adoption of surgical interventions, driving market growth. Favorable reimbursement policies and the presence of well-established healthcare infrastructure in developed regions like North America and Europe have also played a significant role in the market's expansion.
One prominent trend in the glaucoma surgery devices market is the growing adoption of minimally invasive glaucoma surgery (MIGS) techniques. MIGS procedures, such as trabecular micro-bypass stents and suprachoroidal shunts, offer several advantages over traditional glaucoma surgeries. They are less invasive, require shorter recovery times, and have a lower risk of complications. MIGS techniques also allow for combined procedures with cataract surgery, providing convenience to patients and reducing the need for additional surgeries. The increasing focus on patient-centric care and the demand for improved surgical outcomes are driving the adoption of MIGS techniques, which is expected to continue driving market growth.
US Glaucoma Surgery Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Glaucoma drainage devices
Fastest Growth
Glaucoma drainage devices
Growth Rate
25.14% CAGR
Global Glaucoma Surgery Devices Market ($ Bn)
Country Share for North America Region (%)
Global Glaucoma Surgery Devices Market By Type ($ Bn)
Global Glaucoma Surgery Devices Market By Type (%)
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Global Glaucoma Surgery Devices Market Segmental Analysis
The global glaucoma surgery devices market can be segmented based on product type, end-user, and region. Based on product type, the market can be segmented into glaucoma drainage devices, glaucoma laser systems, minimally invasive glaucoma surgery (MIGS) devices, glaucoma implants. Based on end-user, the market can be segmented into hospitals, ophthalmic clinics, ambulatory surgical centers. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Glaucoma Surgery Devices Market Analysis By Product Type
The largest market segment in the glaucoma surgery devices market is the glaucoma drainage devices segment. Glaucoma drainage devices have gained significant popularity and are widely used in the surgical management of glaucoma. These devices help in regulating the flow of aqueous humor, reducing intraocular pressure, and preventing optic nerve damage. They offer advantages such as long-term effectiveness, reduced dependence on post-operative medication, and improved patient outcomes.
On the other hand, the fastest-growing segment in the glaucoma surgery devices market is the minimally invasive glaucoma surgery (MIGS) devices segment. MIGS devices have gained traction in recent years due to their minimally invasive nature, quicker recovery times, and lower risk of complications compared to traditional glaucoma surgeries. These devices encompass various techniques such as trabecular micro-bypass stents, suprachoroidal shunts, and endoscopic cyclophotocoagulation. The growing demand for MIGS procedures and the increasing focus on patient-centric care have propelled the rapid growth of this segment.
Glaucoma Surgery Devices Market Analysis By End-User
The Hospitals segment is the largest market segment in the glaucoma surgery devices market. Hospitals play a critical role in providing comprehensive healthcare services, including the diagnosis, treatment, and management of glaucoma. These facilities possess advanced operation theaters, specialized medical staff, and the necessary resources to perform glaucoma surgeries with precision and effectiveness. With their infrastructure and expertise, hospitals are the preferred choice for patients seeking surgical interventions for glaucoma. Additionally, hospitals often have established relationships with healthcare professionals, enabling seamless coordination and access to a wide range of medical services.
On the other hand, the fastest-growing segment in the glaucoma surgery devices market is the ambulatory surgical centers (ASCs) segment. ASCs have gained prominence in recent years due to their advantages in terms of cost-efficiency, convenience, and reduced waiting times. These centers specialize in providing outpatient surgical procedures, including glaucoma surgeries. ASCs offer a more streamlined and efficient healthcare experience, allowing patients to undergo surgeries and return home on the same day. The rising demand for minimally invasive glaucoma surgeries, which are often suitable for outpatient settings, has contributed to the rapid growth of the Ambulatory Surgical Centers segment.
Global Glaucoma Surgery Devices Market By Type, 2023 (%)
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Global Glaucoma Surgery Devices Market Regional Insights
The largest market region in the glaucoma surgery devices market is North America. North America has a well-established healthcare infrastructure, advanced medical facilities, and high healthcare expenditure, contributing to the dominant position of this region in the market. The presence of key market players and their strong distribution networks further bolsters the market in North America. Additionally, the region has a high prevalence of glaucoma, primarily attributed to an aging population and lifestyle factors, leading to a significant patient pool requiring surgical interventions. Moreover, favorable reimbursement policies and government initiatives aimed at reducing glaucoma-related blindness contribute to the growth of the glaucoma surgery devices market in North America.
On the other hand, the fastest-growing region in the glaucoma surgery devices market is the Asia Pacific. The Asia Pacific region has witnessed rapid growth due to several factors. Firstly, the rising geriatric population, particularly in countries like China and Japan, has led to an increased incidence of glaucoma, driving the demand for surgical interventions. Furthermore, the growing awareness among patients and healthcare professionals about the importance of early detection and treatment of glaucoma has fueled the market's growth. The region's expanding middle-class population, improving healthcare infrastructure, and increasing healthcare expenditure have also contributed to market growth.
Global Glaucoma Surgery Devices Market By Geography, 2024-2031
- Largest
- Fastest
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Global Glaucoma Surgery Devices Market Dynamics
Glaucoma Surgery Devices Market Drivers
Increasing Prevalence Of Glaucoma Worldwide
- The aging population, coupled with lifestyle factors such as increased screen time and prevalence of conditions like diabetes, has contributed to a growing incidence of glaucoma. This surge in glaucoma cases has led to a higher demand for effective surgical interventions, driving the market for glaucoma surgery devices. Healthcare providers and patients are recognizing the importance of early detection and treatment of glaucoma, further fueling the demand for surgical devices.
Glaucoma Surgery Devices Market Restraints
High Costs Associated With Glaucoma Surgeries
- Glaucoma surgical procedures can be expensive due to various factors such as the need for specialized equipment, skilled healthcare professionals, and post-operative care. The cost of glaucoma surgery devices themselves can also contribute to the overall expense. These high costs can pose challenges for patients, particularly in developing regions or for those without adequate insurance coverage. Affordability issues may limit access to glaucoma surgical interventions and impact the market's growth potential.
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Global Glaucoma Surgery Devices Market Competitive Landscape
The competitive landscape of the glaucoma surgery devices market is characterized by the presence of several key players striving to gain a competitive edge and expand their market share. These companies are focused on research and development activities to introduce innovative and technologically advanced glaucoma surgery devices. They are also engaged in strategic collaborations, partnerships, and mergers and acquisitions to strengthen their product portfolios and expand their geographic presence. Furthermore, market players are actively involved in marketing and promotional activities to create awareness about their products and gain traction among healthcare professionals and patients.
Glaucoma Surgery Devices Market Top Player’s Company Profiles
- Johnson & Johnson Vision (US)
- Bausch Health Companies Inc. (Canada)
- Novartis AG (Switzerland)
- Glaukos Corporation (US)
- Ellex Medical Lasers Limited (Australia)
- Allergan, Inc. (Ireland)
- Topcon Corporation (Japan)
- Lumenis Ltd. (Israel)
- NIDEK Co., Ltd. (Japan)
- Santen Pharmaceutical Co., Ltd. (Japan)
- AqueSys, Inc. (US)
- Iridex Corporation (US)
- OCULUS Optikgeräte GmbH (Germany)
- Molteno Ophthalmic Limited (New Zealand)
- New World Medical, Inc. (US)
- Sight Sciences, Inc. (US)
- Ivantis, Inc. (US)
Glaucoma Surgery Devices Market Recent Developments
- In April 2023, Sun Pharmaceutical Industries Limited launched a novel ophthalmology treatment, CEQUA, in India for patients who have Dry Eye Disease (DED) with inflammation, a commonly occurring condition.
- In April 2023, Bausch + Lomb Corporation announced the U.S. launch of StableVisc™ cohesive ophthalmic viscosurgical device (OVD) as well as TotalVisc™ Viscoelastic System. StableVisc and TotalVisc provide eye surgeons with new options for dual-action protection during cataract surgery.
Global Glaucoma Surgery Devices Key Market Trends
- Growing Emphasis on Combination Therapies: Another notable trend in the glaucoma surgery devices market is the increasing emphasis on combination therapies. Combining different treatment modalities, such as medications, laser therapy, and surgical interventions, can provide synergistic effects and better control of intraocular pressure (IOP). The integration of glaucoma surgery devices with drug-delivery systems, such as sustained-release implants, enables targeted and controlled drug administration, enhancing the effectiveness of treatment.
Global Glaucoma Surgery Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, the glaucoma surgery devices market is poised for significant growth in the coming years, driven by a combination of factors. One of the most prominent driving factors is the increasing prevalence of glaucoma globally, attributed to the aging population and lifestyle-related factors. This has resulted in a growing demand for effective surgical interventions to manage glaucoma. Technological advancements in surgical techniques and devices have further improved the success rates and safety of glaucoma surgeries, with a shift towards minimally invasive procedures gaining traction. The largest market segment in the glaucoma surgery devices market is the Glaucoma Drainage Devices segment, offering long-term effectiveness and improved patient outcomes. On the other hand, the fastest-growing segment is the minimally invasive glaucoma surgery (MIGS) devices, driven by their reduced complications and quicker recovery times. While North America currently dominates the market, Asia Pacific is emerging as the fastest-growing region, attributed to the rising geriatric population, increasing awareness, improving healthcare infrastructure, and government initiatives. With ongoing research and development activities, strategic collaborations, and favorable reimbursement policies, the glaucoma surgery devices market holds immense potential for future growth, providing improved treatment options and better quality of life for glaucoma patients globally.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 339.18 million |
| Market size value in 2031 | USD 3.19 million |
| Growth Rate | 25.14% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Glaucoma Surgery Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Glaucoma Surgery Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Glaucoma Surgery Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Glaucoma Surgery Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Glaucoma Surgery Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Glaucoma Surgery Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Glaucoma Surgery Devices Market Report Snapshots
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