Global Glaucoma Surgery Devices Market - 2023-2030

Global Glaucoma Surgery Devices Market - 2023-2030

The global glaucoma surgery devices market reached US$ 1.1 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 6.0 billion by 2030. the global glaucoma surgery devices market is expected to exhibit a CAGR of 24.2% during the forecast period (2023-2030).

Glaucoma surgical devices provide a variety of treatment choices that are adapted to the demands of the particular patient. Different devices target different methods of IOP management, allowing surgeons to select the best appropriate device based on glaucoma type and severity, patient anatomy, and other considerations. This individualization improves therapy results and patient satisfaction.

Market Dynamics
Rise in Minimally Invasive Glaucoma Surgery
Minimally invasive glaucoma surgery is also known as micro-invasive glaucoma surgery (MIGS) and this segment is expected to grow owing to the increasing number of glaucoma patients globally. For instance, In July 2022 AbbVie planned to make the device maker an upfront payment of $60 million. It also acquired the exclusive right to buy iStar in the future, at which point it will be in charge of all future global development and sales of iStar's MiniJect gadget.

A minimally invasive process is used to implant the MiniJect device. It is directed via the anterior chamber of the eye towards the cornea with the goal of increasing space between the chamber and the supraciliary space in order to lower intraocular pressure, which is connected to glaucoma. The gadget is designed exclusively for open-angle glaucoma, the most prevalent kind of illness.

Rise in the Geriatric Population
Glaucoma can occur at any age but is more common in older adults. It is one of the leading causes of blindness for people over the age of 60. For instance, Glaucoma becomes increasingly prevalent with age. According to the World Health Organization (WHO), it is estimated that 3.54% of the global population aged 40 to 80 years has glaucoma. This percentage increases to 5.47% for individuals aged 60 to 80 years. Stringent Pricing of Drugs will Hamper the Growth of the Market.

Lack of Awareness About Glaucoma and the Devices
Glaucoma awareness appears to be high in a hospital population, maybe as a result of clinic health instruction, but understanding remains low and incorrect. There is a need for policy adjustments to expand awareness programmes with a greater emphasis on the substance of the awareness with the goal of better educating patients and targeting lower socioeconomic communities.

COVID-19 Impact Analysis
The covid-19 pandemic and the ensuing economic downturn have had a substantial impact on global demand for devices used in elective operations and treatments. Prior to the covid-19 epidemic, the most often utilised MIGS technique in minimally invasive glaucoma surgery (MIGS) was the iStent inject, followed by XEN and Preserflo. Despite the fact that trabeculectomy is the most commonly done established glaucoma surgery, it is being performed less frequently during the covid-19 pandemic because of the reduced number of postoperative visits and treatments.

Russia-Ukraine War Impact Analysis
The Russia-Ukraine conflict is estimated to have a moderate impact on the global glaucoma surgery devices market, owing to the low prevalence and absence of key market players in this region. however, the impact of the import and export of glaucoma surgery devices is expected to have little influence over the global glaucoma surgery devices market growth over the forecast period.

Segment Analysis
The global glaucoma surgery devices is segmented based on product type, surgery type, end user and region
Ophthalmic Clinics From End User Segment Accounts for 37.3% of Market Share
Ophthalmic Clinics from the end-user segment with around 37.3% are expected to dominate during the forecast period. The ophthalmology clinics owing to the increased adoption of glaucoma surgical devices, the availability of eye surgeons, and an increase in the focus and expenditure on eye care by ophthalmology clinics.

Geographical Analysis
North America Accounted for Approximately 38.4% of the Market Share in 2022

North America is estimated to hold about 38.4% of the total market share throughout the forecast period because of the rising prevalence of glaucoma, the growing older population, improved awareness, favourable reimbursement policies, and the existence of numerous important rivals.

Furthermore, glaucoma is becoming increasingly widespread in the United States ageing population. Additionally, increased healthcare spending and well-established infrastructure contribute to the overall growth of the area industry.

For instance, in April 2023 The iTrackTM advanced canaloplasty device has been cleared for sale in the United States by Nova Eye Medical. Nova Eye Medical Limited (Nova Eye Medical), a medical technology company dedicated to advanced ophthalmic treatment technologies and devices, announced that its new canaloplasty device, iTrack, has received FDA 510(k) clearance.

Competitive Landscape
The major global players in the glaucoma surgery devices market include Ziemer Ophthalmic Systems AG, Corza Medical, Alcon, Inami & Co Ltd, Katalyst Surgical, Lumenis, Millennium Surgical, Moria Surgical, Zabbys, and Allergan among others.

Why Purchase the Report?
• To visualize the global glaucoma surgery devices market segmentation based on product type, surgery type, end user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of glaucoma surgery devices market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.
The global glaucoma surgery devices market report would provide approximately 53 tables, 54 figures and 195 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies