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Report Overview: Glaucoma Surgery Devices MarketThe global glaucoma surgery devices market size was valued at USD 0.52 billion in 2020 and is anticipated to expand at a CAGR of 5.8% over the forecast. The rising global burden of glaucoma is expected to contribute to market growth over the forecast period 2021-2027. As per the data published in 2014 by the American Academy of Ophthalmology (AAO), the global prevalence of glaucoma was estimated to be 64.3 million in 2013 and is expected to reach 76 million by 2020 and further to 111.8 million by 2040. Therefore, expansion of the patient base, coupled with improvement in the healthcare facilities, is expected to increase the demand for surgery devices, thereby aiding the market growth. In addition, government support such as favorable reimbursement policies and foreign direct investment provisions is expected to drive the market for these surgery devices, especially in developing regions. Rising demand for minimal invasive glaucoma surgery (MIGS) procedures is expected to generate the demand for advanced glaucoma surgery devices over the forecast period. Benefits, such as reduced surgery time, shorter recovery period, affordability, and low risk of post-surgical complications, including hypotony, are increasing the demand for MIGS procedures and devices. In recent years, patients have been opting for permanent surgical solutions over long term management with prescription drugs. Glaucoma patients are usually characterized by taking 2 or more different medications depending upon the stage of glaucoma, thus creating a lot of patient compliance issues. Undergoing a glaucoma surgery significantly reduces the medication burden of the patients. Additionally, therapeutic efficiency problems associated with medication, such as low bioavailability, drug resistance, and toxicity, have increased the demand for surgical procedures and devices, thereby fostering the market growth. Surge in the number of glaucoma care initiatives conducted by the government and several non-governmental organizations is expected to have a positive impact on the adoption of advanced devices. These organizations conduct eye check-up and mass surgery camps, spread awareness, and provide funding for surgical procedures and devices. Such initiatives have reduced the percentage of undiagnosed cases of glaucoma, concomitantly fueling the demand for glaucoma treatment procedures and devices.
Product Insights: Glaucoma Surgery Devices MarketBased on product, the market is classified into punches, USC marker, USC planner, USC shaver, forceps, algerbrush, probes, diamond knives, glaucoma drainage device (shunts, stents, implants, valve), laser system, and others (cannula, speculum, needle holders, scissors). Glaucoma drainage devices held the largest market share in 2019 and are expected to expand at the fastest CAGR over the forecast period. Cataract surgery and glaucoma surgeries are often performed in combination. High procedural volume of cataract surgeries is expected to have a direct positive impact on the segment growth. The MIGS drainage device, called iStent, has recently been approved by the U.S. FDA for use in combination with cataract surgery. Furthermore, the advent of novel and advanced MIGS devices, such as Microhook ab interno LOT (µLOT) and Trabectome, is expected to increase the growth of the glaucoma drainage devices segment over the forecast period. Products such as forceps, algerbrush, probes, scissors, needle holders, and diamond knives individually held a decent share in the market in 2019 and are expected to witness steady growth over the forecast period. The segment space is highly fragmented with the presence of a large number of market players. Most of the users prefer buying from local market players, which offer products and devices at a relatively lower price. Increasing demand for surgical devices in underdeveloped countries of MENA is expected to increase the growth of these segments over the forecast period.
Surgery Method Insights: Glaucoma Surgery Devices MarketBased on the surgery method, the global glaucoma surgery devices market is segmented into traditional glaucoma surgery, minimally invasive glaucoma surgery, and laser surgery. The traditional glaucoma surgery segment is further divided into trabeculectomy and tube shunt surgery. Minimal invasive glaucoma surgery (MIGS) is further segmented into trabecular meshwork bypass, suprachoroidal space implants, and subconjunctival space implants. Laser surgery is sub-segmented into trabeculoplasty, iridotomy, and cyclophotocoagulation. The traditional glaucoma surgery segment held the largest market share in 2019. Longer hospital stays, availability of other advanced surgical technology and devices, and increased chances of postoperative complications, such as leakage, hypotony, choroidal effusion, and hyphema, are some of the factors driving the patients and surgeons to opt for alternatives. However, traditional surgery is still the first choice in developing countries, where the healthcare service industry is lead by private players. As per the NCBI report, a subconjunctival space implant is approximately 3.5 times costlier than trabeculectomy. Therefore, this surgery method has great potential for growth, especially in underdeveloped economies such as North African countries. MIGS held a significant proportion in the market for glaucoma surgery device in 2019 and is expected to expand at a healthy CAGR over the forecast period. Clinical evidences suggesting the use of two iStent’s (MIGS devices) for an efficient treatment of glaucoma are expected to drive the segment. Furthermore, frequent launches of advanced glaucoma drainage devices are expected to increase the segment growth over the forecast period. For instance, Ivantis, a company dedicated to the development of new solutions and devices for glaucoma treatment, received approval from the U.S. FDA for the launch of its MIGS device called “Hydrus Microstent” in 2018.
End-user Insights: Glaucoma Surgery Devices MarketBased on end user, the market is segmented into hospitals, ophthalmic clinics, and others. The hospital segment held the largest share in the market in 2019 and is expected to exhibit a lucrative CAGR over the forecast period. Large patient base, availability of highly skilled medical professionals, and advanced surgical devices are the key factors expected to increase the segment growth. Ophthalmic clinics held the second largest share in 2019 and are expected to witness the fastest growth over the forecast period. Introduction of advanced surgical devices, cost efficiency, shorter waiting time, and rising awareness about MIGS surgery and treatment devices are expected to increase the segment growth during the forecast period. The others segment includes academics, research institutes, and mobile ophthalmic units. The segment is expected to expand at a healthy CAGR over the forecast. Rising number of undiagnosed glaucoma cases, increasing investments in glaucoma research, and poor healthcare facilities in remote areas are a few of the factors expected to fuel the segment growth over the forecast period.
Regional Insights: Glaucoma Surgery Devices MarketNorth America held the largest market share in 2019. Presence of leading market players, efficient reimbursement policies, and public health programs, such as Eye America and Vision USA, are the factors expected to drive the regional market over the forecast period. As per the Glaucoma Research Foundation report of 2018, over 3 million Americans are living with glaucoma and this number is expected to double by 2050. Additionally, increasing awareness about glaucoma and early product availability are the factors expected to aid the market growth. Europe held the second-largest share in 2019. The region has a dynamic reimbursement paradigm for glaucoma surgery, where some countries are having proper coverage on modern surgery devices and methods while others must cater to trabeculectomy despite the availability of wider options. European countries such as Germany, France, and Russia have the highest number of glaucoma surgeries performed annually in the world. Asia Pacific is expected to witness the fastest growth over the forecast period. Large unmet needs, coupled with increasing incidence of open-angle glaucoma, especially in countries such as Japan, China, and India, are expected to fuel the growth of the market in this region. Additionally, the region is expected to witness high demand for MIGS devices due to its continuous improvement in the healthcare facilities and resources.
Glaucoma Surgery Devices Market Share Insights: Glaucoma Surgery Devices MarketThe market is highly fragmented and leading players present in the market are
Key players in the market for glaucoma surgery devices are adopting strategic initiatives, such as mergers and acquisitions, to strengthen their product portfolio in the glaucoma treatment devices segment. For instance, in August 2019, Glaukos, an ophthalmic medical technology, and pharmaceutical company, entered into a definitive agreement to acquire Avedro, a leading hybrid ophthalmic medical technology company. The acquisition helped Glaukos to expand its product portfolio in glaucoma treatment and enhance its R&D, clinical, and regulatory capabilities. This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global glaucoma surgery devices market report on the basis of product, surgery method, end user, and region:
- Alcon, Inc.
- Glaukos Corporation
- Abbott Medical Optics
- Allergan Plc.
- Carl Zeiss Meditec AG
- Katalyst Surgical
- Lumenis Ltd.
- Ziemer Ophthalmic Systems AG
- Iridex Corporation.
Product Outlook (Revenue, USD Million, 2016 - 2027)
- USC Marker
- USC Planner
- USC Shaver
- Diamond Knives
- Glaucoma Drainage Device (Shunts, Stents, Implants, Valve)
- Laser System
- Others (Cannula, Speculum, Needle Holders, Scissors)
Surgery Method Outlook (Revenue, USD Million, 2016 - 2027)
- Traditional Glaucoma Surgery
- Tube Shunt Surgery
- Minimal Invasive Glaucoma Surgery
- Trabecular Meshwork Bypass
- Suprachoroidal Space Implants
- Subconjunctival Space Implants
- Laser Surgery
End-user Outlook (Revenue, USD Million, 2016 - 2027)
- Ophthalmic Clinics
Table of Contents Chapter 1. Methodology and Scope 1.1. Market Segmentation & Scope 1.1.1. Product 1.1.2. Surgery method 1.1.3. End-user 1.1.4. Estimates and forecast timeline 1.2. Research Methodology 1.3. Information Procurement 1.3.1. Purchased Database(Statista, FactSet, Bloomberg, SDC Platinum) 1.3.2. IFF internal database 1.3.3. Secondary sources | read more...