Glaucoma Surgery Devices Market – By Product Type (Glaucoma Drainage Devices, Glaucoma Laser Devices, Punches, USC Marker, USC Planer, USC Shaver, Forceps, Probes & Algerbrushes, Diamond Knives, And Others), By Surgery Type (Trabeculectomy, Tube Shunt Implantation, Cyclophotocoagulation, Minimally Invasive Glaucoma Surgeries (MIGS), And Others), By End Users (Eye Hospitals, Diagnostic Centers, And Others), and By Region - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Glaucoma is an ocular disorder and the second most common cause of blindness across the world. It affects the optic nerve of the iris and progression of the same attributes to loss of vision and blindness. Glaucoma is characterised by relatively high Intraocular Pressure as a result of impaired drainage of a fluid, which is known as aqueous humor, from the eye. There are commercially available therapies that focus on reducing the intraocular pressure, which is responsible for the development and progression of glaucoma. Presently, the approved treatments for glaucoma are pharmaceutical drug, glaucoma laser therapy, and surgical procedures. It initially starts with tropical eye drops, which is used as an alternative to delay surgery. Aging population, growing prevalence of diabetes resulting in eye-disorders, and rising government initiatives over healthcare are key factors that will ensure steady growth of the glaucoma surgery devices market. The market size of the Glaucoma Surgery Devices market is anticipated to grow from USD 510 million in 2020 to USD 7084.9 million by 2030, at a CAGR of 30.1% approx., during the forecast period.

Market Segmentation:

On the basis of product type, the glaucoma surgery device market can be classified into glaucoma drainage devices, glaucoma laser devices, punches, USC marker, USC planer, USC shaver, forceps, probes & alger brushes, diamond knives, and others. Based on surgery type, the market can be segmented into trabeculectomy, tube shunt implantation, cyclophotocoagulation, minimally invasive glaucoma surgeries, and others. According to end users, the market is categorised into eye hospitals, diagnostic centres, and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.  

Market Dynamics and Factors:

The rise in aging population, eye disorders like macular degeneration, increase in eye disability due to diabetes, and increasing pool of geriatric population are the key drivers of the global glaucoma surgery devices market. Other major factors such as government initiatives towards healthcare infrastructure, increasing awareness and training to healthcare providers regarding glaucoma, and medical tourism are going to further boost the market in the forecast period. For instance, the Canadian Ophthalmology Society has included training on multiple minimally invasive glaucoma surgeries (MIGS) procedures in its educational skill transfer courses. Growing prevalence of Myopia, one of the major reasons for the occurrence of glaucoma is also contributing in the growth of the glaucoma surgery devices market. However, high cost of glaucoma surgery devices, rising awareness among people to avoid the occurrence of glaucoma, critical post-operative complications and higher preference for pharmacological approach are some factors that could restrain the growth of the glaucoma surgery devices market.

Geographic Analysis:

North America and Europe are cumulatively going to dominate the global glaucoma surgery devices market during the forecast period. Rise in the number of diabetic and myopic cases, better healthcare infrastructure, new innovations in healthcare, and a domicile of market incumbents in U.S & Western Europe are some major factors behind the domination. For instance, innovations such as CyPass micro-stent by Alcon Surgical in U.S, XEN gel stent by Allergan in U.S received government approvals and fuelled the market growth there. The Asia Pacific market is becoming the most lucrative and fastest growing market for glaucoma surgery devices. Growing awareness related to glaucoma and booming medical tourism in countries like China, India, Japan, and others are major reasons for the market growth.

Competitive Scenario:

The key players dominating the global glaucoma surgery devices market are –

Alcon, Allergan Inc, Abbott Laboratories, Carl Zeiss Meditec, Ellex Medical Lasers, Glaukos, Lumenis, Millenium Surgical, Zabbys, Katalyst Surgical.

Glaucoma Surgery Devices Market Report Scope