Global Glaucoma Surgery Devices Market is expected to grow at a CAGR of 6.9% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Glaucoma Surgery Devices Market by Type (Probes, Glaucoma Drainage Devices, Punches, USC Marker, Forceps, Diamond Knives, Laser System, USC Shaver, USC Planner, Algerbrush), Surgery Method [Traditional Glaucoma Surgery (Trabeculectomy, Tube Shunt Surgery), Minimal Invasive Glaucoma Surgery (Suprachoroidal Space Implants, Trabecular Meshwork Bypass, Subconjunctival Space Implants), Laser Surgery (Iridotomy, Cyclophotocoagulation, Trabeculoplasty)], End-User (Ophthalmic Clinics, Hospitals, Others), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The global glaucoma surgery devices market is expected to grow from USD 1.53 billion in 2019 to USD 2.60 billion by 2027, at a CAGR of 6.9% during the forecast period 2020-2027. North America holds the largest market share, owing to the presence of leading market players, public health programs, and efficient reimbursement policies. Europe holds the second-largest share in the market, due to dynamic reimbursement paradigm for glaucoma surgery. In the region, France, Germany, and Russia have the highest share. The Asia-Pacific is anticipated to witness significant growth, owing to large unmet needs, increasing incidences of open-angle glaucoma, especially in India, Japan, and China. The market in Latin America and Middle East and Africa is expected to witness significant growth.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Some of the notable players in the market are Alcon, Inc., Lumenis Ltd., Iridex Corporation, Nidek Co., Ltd., Abbott Laboratories, Katalyst Surgical, Carl Zeiss Meditec AG, ASICO, Ziemer Ophthalmic Systems AG, and Glaukos Corporation.
The type segment includes probes, glaucoma drainage devices, punches, USC marker, forceps, diamond knives, laser system, USC shaver, USC planner, algerbrush. Glaucoma drainage devices hold the largest share, owing to the high procedural volume of cataract surgeries and the advent of novel and advanced MIGS devices. Products like algerbrush, forceps, needle holders, scissors, and diamond knives are also anticipated to witness significant growth, as most of the users prefer buying from local market players that offer devices at a relatively lower price. The surgery method segment includes traditional glaucoma surgery (trabeculectomy, tube shunt surgery), minimally invasive glaucoma surgery (suprachoroidal space implants, trabecular meshwork bypass, subconjunctival space implants), laser surgery (iridotomy, cyclophotocoagulation, trabeculoplasty). The traditional glaucoma surgery segment holds the largest share, owing to the availability of other advanced surgical technology, longer hospital stays, and increased chances of postoperative complications. Minimal Invasive Glaucoma Surgery segment is anticipated to witness significant growth, due to the clinical evidences suggesting the use of two iSents’s for efficient treatment of glaucoma, and frequent launches of advanced glaucoma drainage devices. The end-user segment includes ophthalmic clinics, hospitals, and others. The hospital segment dominates the market, owing to the availability of highly skilled medical professionals, a large patient base, and advanced surgical devices. Ophthalmic clinics holds the largest market share, owing to the cost efficiency, introduction of advanced surgical devices, rising awareness about minimally invasive surgical devices, and shorter wait time.
The factors driving the market are rising geriatric population, increasing incidence of eye-related disorders, and increasing preference for micro-invasive glaucoma surgeries. Increasing innovations and development in the form of various technologically advanced implants possess opportunities for the market. The factors restraining the market are lack of skilled professionals, increase in associated complications post-surgery, and high cost of glaucoma surgery procedures.
About the report:
The global glaucoma surgery devices market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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- CDN Newswire