The Glaucoma Surgery Devices Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Glaucoma Surgery Devices Global Market Report 2024, The glaucoma surgery devices market size has grown rapidly in recent years. It will grow from $1.73 billion in 2023 to $1.95 billion in 2024 at a compound annual growth rate (CAGR) of 12.8%. The growth in the historic period can be attributed to aging population, rising incidence of glaucoma, increased awareness and screening program, healthcare infrastructure development, insurance coverage and reimbursement policies.
The glaucoma surgery devices market size is expected to see rapid growth in the next few years. It will grow to $3.25 billion in 2028 at a compound annual growth rate (CAGR) of 13.7%. The growth in the forecast period can be attributed to increasing global geriatric population, growing healthcare awareness, collaborative research and development initiatives, global expansion of healthcare services, patient preferences for outpatient procedures. Major trends in the forecast period include decentralization and grid resilience, regulatory environment, technology advancements, integration with renewables, environmental considerations.
The growth in the prevalence of glaucoma is expected to boost the growth of the glaucoma surgery devices market. Glaucoma is a progressive eye disease that damages the optic nerve and can lead to permanent vision loss if not diagnosed and treated promptly. Glaucoma surgery devices play a major role in executing glaucoma surgery, and they have made glaucoma surgeries safer, more effective, and less invasive, which significantly contributes to the increasing demand. For instance, according to an article shared by the World Glaucoma Association (WGA), a Netherlands-based independent organization for glaucoma science and care, the most recent census and prevalence estimates estimated that glaucoma affected 79.6 million people in 2020. In 2040, there will probably be 111.8 million people in the world. In 2020, more than 11 million people (or 13% of cases) will be bilaterally blind because of glaucoma. Therefore, the growth in the prevalence of glaucoma will drive the glaucoma surgery devices market forward.
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The glaucoma surgery devices market covered in this report is segmented –
1) By Product: Drainage Systems, Laser-Based Devices, Implants, Other Products
2) By Treatment: Open-Angle, Closed-Angle
3) By Type Of Surgery: Angle Closure Glaucoma Surgery, Aqueous Shunt Surgery, Laser Surgery, Other Type Of Surgeries
4) By Application: Conventional Glaucoma Surgeries, Minimally Invasive Glaucoma Surgeries
5) By End User: Eye Hospitals, Ophthalmology Clinics, Outpatient Surgical Centers
Technological advancements are a key trend gaining popularity in the glaucoma surgery devices market. Major companies operating in the glaucoma surgery devices market are focused on the development of new and innovative technologies to sustain their position in the market. For instance, in August 2022, Sight Sciences Inc., a US-based eyecare technology company, launched the SION Surgical Instrument, the first bladeless device used in goniotomy. It is a novel and implant-free Minimally Invasive Glaucoma Surgery (MIGS) device that is designed to provide a consistent and controlled approach to goniotomy, which may lead to better outcomes for patients with glaucoma. This technology uses a flexible catheter to create micro-incisions in the trabecular meshwork without a blade. SION’s bladeless technology was created to increase safety and ease of use by removing the need to maneuver sharp instruments around the anatomy of the eye’s anterior chamber and iridocorneal angle. The design elements are meant to increase the effectiveness and finish of the excisional tissue removal process.
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Top 5 Major Key Players Are:
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