Glaucoma Surgery Devices Market Overview:
Glaucoma Surgery Devices Market was valued at $353 million in 2016, and is expected to reach $2,143 million by 2023, registering a CAGR of 29.3% from 2017 to 2023. Glaucoma surgery devices play a pivotal role in the treatment of glaucoma, and are anticipated to gain traction in the future globally. The key application of these devices is to achieve stability or reduction in the intraocular pressure (IOP).
The need for development of efficient glaucoma surgery devices is on a continuous rise, owing to the requirement of faster treatment of glaucoma to prevent loss of vision. According to the Center for Disease Control and Prevention (CDC), approximately 2.7 million people in the U.S. were affected by glaucoma in 2016, making glaucoma one of the leading causes of blindness in the country.
The other key factors that boost the market growth include high prevalence of glaucoma worldwide and rise in transition from use of only medication to adoption of glaucoma surgeries. In addition, development of innovative approaches to treat glaucoma, including minimal invasive glaucoma surgery (MIGS) devices, have contributed to the market growth. However, lack of awareness about glaucoma and the devices associated with it in certain developing and underdeveloped economies hampers this market growth.
Global glaucoma surgery devices market segmentation
The glaucoma surgery devices market is segmented based on product, surgery type, end user, and region. Based on product, it is divided into glaucoma drainage devices, glaucoma laser devices, and implants & stents. Based on surgery type, it is bifurcated into conventional and minimally invasive glaucoma surgeries. Based on end user, the market is classified into eye hospitals, ophthalmology clinics, and outpatient surgical centers. Based on region, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Drivers, restraints, and opportunities
Drivers, restraints, and opportunities
The impact of the driving factors is expected to surpass that of the restraints. Moreover, increase in investment by key players in untapped regions offers lucrative opportunities for expansion of the global glaucoma surgery devices market.
Japan glaucoma surgery devices market, 2016-2023 ($million)
Japan accounted for the highest share in the Asia-Pacific glaucoma surgery devices market in 2016, and is projected to continue this trend throughout the forecast period. This is attributed to the increase in demand for ophthalmic devices and easily accessibility of glaucoma surgery devices through companies operating in this country, including Topcon Corporation and Hoya Corporation.
The report provides a comprehensive analysis of the key players operating in the global glaucoma surgery devices market such as Alcon, Inc. (Novartis AG), Glaukos Corporation, New World Medical, Inc., Ellex Medical Lasers Ltd., Abbott Medical Optics (Abbott Laboratories), Johnson & Johnson, Bausch & Lomb, Inc. (Valeant Pharmaceuticals International, Inc.), Topcon Corporation, Lumenis Ltd., and Allergan Plc.
The other key players in the value chain include Nidek Co., Ltd., HAAG-Streit Holding AG, Essilor International S.A., Hoya Corporation, Ziemer Ophthalmic Systems AG, Carl Zeiss Meditec AG, Sonomed Escalon, HumanOptics AG, PhysIOL S.A., Calhoun Vision Center.
- The study provides an in-depth analysis with the current trends and future estimations of the global glaucoma surgery devices market to elucidate the imminent investment pockets.
- Comprehensive analysis of the factors that drive and restrict the market growth is provided.
- The quantitative analysis of the industry from 2016 to 2023 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
- Extensive analysis of key segments of the industry is provided to understand the type of glaucoma surgery devices used globally.
- Key players and their strategies are analyzed to understand the competitive outlook of the market.
Glaucoma Surgery Devices Market Key Segments:
By Surge ry Type
- Conventional Glaucoma Surgeries
- Minimally Invasive Glaucoma Surgeries
- Glaucoma Drainage Devices
- Glaucoma Laser Devices
- Implants & Stents
By End User
- Eye Hospitals
- Ophthalmology Clinics
- Outpatient Surgical Centers
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Saudi Arabia
- Rest of LAMEA