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2021

Glaucoma Surgery Devices Market

Glaucoma Surgery Devices Market Size, Share, Competitive Landscape and Trend Analysis Report by Surgery Type, Product and End User : Global Opportunity Analysis and Industry Forecast, 2021-2030.

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Author's: Smita Nerkar| Monika Darandale | Roshan Deshmukh
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Glaucoma Surgery Devices Market Statistics - 2030

The global glaucoma surgery devices market size was valued at $818.46 million in 2020 and is projected to reach $6514.07 million by 2030 registering a CAGR of 24.60% from 2021 to 2030. Glaucoma is a group of diseases affecting the optic nerve that results in vision loss and is frequently characterized by raised intraocular pressure (IOP). Glaucoma surgery helps to lower eye pressure to prevent or reduce damage to optic nerve with the use of glaucoma surgery devices.

Growth in prevalence of glaucoma as well as surge in global geriatric population, which is more prone to eye disease are some factors that drive the glaucoma surgical device market. In addition, rise in demand for minimally invasive glaucoma surgery (MIGS) procedures and technological advancements in glaucoma surgery devices, further boost growth of the glaucoma surgical device market. 

Glaucoma-Surgery-Devices-Market-2021-2030

Reimbursement barriers regarding MIGS devices and risk of post-operative complications associated with glaucoma surgeries hamper growth of the market. In addition, lack of adequate skilled professionals to perform glaucoma surgeries, coupled with lack of awareness about eye care in low-income economies also hinder growth of the glaucoma surgery devices market. On the contrary, programs and initiatives to reduce the burden of glaucoma across the globe and high growth potential in untapped emerging economies create opportunity for manufacturers to tap and capitalize in the market.

What is the Impact of COVID-19 Pandemic on the Glaucoma Surgery Devices Market?

The outbreak of COVID-19 has disrupted workflows in the health care sector around the world. The disease has forced a number of industries to shut their doors temporarily, including several sub-domains of health care. Moreover, there has also been a negative effect on various services, including glaucoma surgery device. Moreover, owing to the COVID-19 outbreak, there has been a significant drop in patient visits to clinics. This has led to a decline in number of elective eye surgeries being conducted per week in hospitals and clinics.

The COVID-19 pandemic affected the global economy and showed a huge impact on functioning of general hospital care for non-COVID-19 patients in hospitals across the globe. As many hospitals and clinics remain closed, owing to lockdowns, demand for glaucoma surgery devices is expected to be subdued in the short term. For instance, according to a study published in the British Journal of Surgery, in May 2020, based on 12 weeks of peak disruption to hospital services due to COVID-19, around 28.4 million elective surgeries worldwide will be canceled or postponed in 2020. In addition, according to a study conducted by an international consortium in May 2020, more than 580,000 planned surgeries in India were canceled or delayed, owing to the COVID-19 pandemic. Thus, with delay of these non-emergent services, demand for glaucoma surgery devices decrease.

Glaucoma Surgery Devices Market Segmentation  

The global glaucoma surgery devices market is segmented on the basis of surgery type, product, end user, and region to provide a detailed assessment of the market. By surgery type, it is segmented into conventional glaucoma surgeries and minimally invasive glaucoma surgeries. By product, it is segmented into implants & stents, glaucoma drainage devices, and glaucoma laser devices. By end user, it is categorized into eye hospital & ophthalmology clinic, ambulatory surgical centers (ASCS), and outpatient surgical centers. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Segment Review

Based on surgery type, the conventional glaucoma surgeries segment dominated the global glaucoma surgery device market in 2020, and is expected to remain dominant throughout the forecast period, owing to factors such as rise in success rate in intraocular pressure reduction and low treatment cost of conventional glaucoma surgery as well as adoption of conventional glaucoma surgery as first choice of treatment in underdeveloped economies, owing to low cost compared to MIGS.

Glaucoma Surgery Devices Market
By Surgery Type
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Conventional Glaucoma Surgeries segment holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.

Based on product, the implants & stents segment dominated the global glaucoma surgery devices market in 2020, and is anticipated to continue this trend during the forecast period. This is attributed to growing demand for implants & stents in glaucoma surgery, owing to its application to reduce intraocular pressure and increase outflow of intraocular fluid.

Based on end user, it is classified into eye hospitals & ophthalmology clinic, ambulatory surgical centers (ASCs), and outpatient surgical centers. The eye hospitals & ophthalmology clinic segment held the largest market share in 2020, and is expected to remain dominant throughout the forecast period, owing to growth in adoption of glaucoma surgical devices in eye hospitals & ophthalmology clinics, availability of eye surgeons, and rise in focus and expenditure on eye care by eye hospitals and ophthalmology clinics.

Glaucoma Surgery Devices Market
By Product
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Implants & Stents segment is projected as one of the most lucrative segment.

Snapshot of the Asia-Pacific glaucoma surgery devices market  

Asia-Pacific offers profitable opportunities for key players operating in the glaucoma surgery devices market, thereby registering the fastest growth rate during the forecast period, owing to improvement in healthcare infrastructure, rise in disposable income, and well-established presence of domestic companies in the region, availability of glaucoma surgery devices, surge in healthcare reforms, and technological advancements in the field of healthcare. In addition, leading manufacturers have been focusing on expanding their geographical presence in emerging Asia-Pacific countries to capture potential growth opportunities in the glaucoma surgery devices market.

The key market players profiled in the report include Abbvie Inc. (Allergan), Alcon Inc, Glaukos Corporation, Johnson & Johnson (Abbott Medical Optics), iStar Medical SA, Lumibird Medical (Ellex Medical Lasers Ltd), Lumenis Ltd, New World Medical, Inc., Santen Pharmaceutical Co. Ltd, and Topcon Corporation.

Glaucoma Surgery Devices Market
By Region
2030
North America 
Europe
Asia-Pacific
LAMEA

North America is expected to experience growth at the highest rate, registering a CAGR of 24.30% during the forecast period.

Key Benefits for Stakeholders

  • The study provides an in-depth analysis of the global glaucoma surgery devices market along with the current trends and future estimations to explain the imminent investment pockets.
  • A comprehensive analysis of the factors that drive and restrict the glaucoma surgery devices market growth is provided in the report.
  • Comprehensive quantitative analysis of the industry from 2020 to 2030 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
  • Extensive analysis of the key segments of the industry helps to understand the application and products of glaucoma surgery devices used across the globe.
  • Key market players and their strategies have been analyzed to understand the competitive outlook of the glaucoma surgery devices market.

Glaucoma Surgery Devices Market Report Highlights

Aspects Details
Glaucoma Surgery Devices Market By Surgery Type
By Surgery Type
  • Conventional Glaucoma Surgeries
  • Minimally Invasive Glaucoma Surgeries
Glaucoma Surgery Devices Market By Product
By Product
  • Implants & Stents
  • Glaucoma Drainage Devices
  • Glaucoma Laser Devices
Glaucoma Surgery Devices Market By End User
By End User
  • Eye Hospital & Ophthalmology Clinic
  • Ambulatory Surgical Centers (ASCS)
  • Outpatient Surgical Centers
Glaucoma Surgery Devices Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Turkey, Saudi Arabia, South Africa, Rest of LAMEA)
Glaucoma Surgery Devices Market By Key Market Players
By Key Market Players
  • Abbvie Inc. (Allergan)
  • Alcon Inc
  • Glaukos Corporation
  • Johnson & Johnson (Abbott Medical Optics)
  • iStar Medical SA
  • Lumibird Medical (Ellex Medical Lasers Ltd)
  • Lumenis Ltd
  • New World Medical, Inc.
  • Santen Pharmaceutical Co. Ltd
  • Topcon Corporation

Analyst Review

Glaucoma surgery devices are used to augment normal physiologic aqueous outflow pathways to provide effective intra-ocular pressure. Glaucoma surgery devices are designed to divert aqueous humor from anterior chamber to an external reservoir, where a fibrous capsule form about 4-6 weeks after surgery and regulates flow.

Rise in prevalence of glaucoma, coupled with growth in geriatric population, which are more prone to eye disease, increase in demand for minimal invasive glaucoma surgery (MIGS) procedures, and technological advancements in glaucoma surgery devices are some factors that boost growth of the market. Furthermore, programs and initiatives to reduce burden of glaucoma across the globe and high growth potential in untapped emerging economies are expected to create lucrative opportunities for the market growth. However, reimbursement barriers regarding MIGS devices, risk of post-operative complications associated with glaucoma surgeries, and lack of adequate skilled professionals to perform glaucoma surgeries, coupled with lack of awareness about eye care in low-income economies are some factors that are expected to hinder growth of the market. 

The conventional glaucoma surgeries segment is expected to remain dominant during the forecast period, owing to factors such as rise in success rate in intraocular pressure reduction and low treatment cost of conventional glaucoma surgery. Moreover, North America is expected to offer lucrative opportunities for the market during the forecast period, owing to presence of major key players in the region and increase in prevalence of glaucoma, coupled with growth in geriatric population in the region.

 

 

 

Author Name(s) : Smita Nerkar| Monika Darandale | Roshan Deshmukh
Frequently Asked Questions?

The total market value of glaucoma surgery devices Market is $6,514.07 million in 2030.

The forcast period for glaucoma surgery devices Market is 2021 to 2030

The market value of glaucoma surgery devices Market in 2021 is $901.94 million.

The base year is 2020 in glaucoma surgery devices Market

Top companies such as J&J (Abbott Medical Optics), Abbevie (allergen), Alcon Inc., Glaukos Corporation, and Santen Pharmaceuticals held a high market position in 2020.

Conventional glaucoma surgeries segment is the most influencing segment owing to increase in success rate in intraocular pressure reduction and low treatment cost of conventional glaucoma surgery as well as adoption of conventional glaucoma surgery as first choice of treatment in underdeveloped economies, owing to low cost compared to MIGS.

Rise in prevalence of glaucoma, coupled with growth in geriatric population, which are more prone to eye disease, increase in demand for minimal invasive glaucoma surgery (MIGS) procedures, and technological advancements in glaucoma surgery devices are some factors that boost growth of the market. Furthermore, programs and initiatives to reduce burden of glaucoma across the globe and high growth potential in untapped emerging economies are expected to create lucrative opportunities for the market growth.

Asia-Pacific is expected to experience the highest growth rate during the forecast period, owing to improvements in healthcare infrastructure, rise in disposable income, surge in incidences of glaucoma, and availability of glaucoma surgery devices.

Glaucoma surgeries comprise non-invasive devices, invasive, and minimally invasive devices to decrease production of intraocular fluid, which is also known as aqueous humor

Glaucoma surgery devices are designed to divert aqueous humor from the anterior chamber to an external reservoir, where a fibrous capsule forms about 4-6 weeks after surgery and regulates flow.

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Glaucoma Surgery Devices Market

Global Opportunity Analysis and Industry Forecast, 2021-2030.