Glaucoma Surgery Devices Market By Surgery Type (Conventional Glaucoma Surgeries And Minimally Invasive Glaucoma Surgeries), Product (Glaucoma Drainage Devices, Glaucoma Laser Devices, And Implants & Stents), And End User (Eye Hospitals, Ophthalmology Clinics, And Outpatient Surgical Centers)
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Glaucoma Surgery is an asymptomatic eye-related disorder that occurs due to the buildup of fluid pressure inside the eye. This leads to damage of the optic nerve in the eye, and is a hereditary disorder.
Immediate treatment of people suffering from glaucoma is essential as glaucoma in severe cases may result in loss of vision permanently. In addition, glaucoma is anticipated to be the leading cause of blindness among people in the age group of 60 years and above.
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The glaucoma surgeries comprise of non-invasive devices, invasive as well as minimally invasive devices to decrease the production of intraocular fluid, which is also known as aqueous humor. The key factors that drive the market growth include increase in prevalence of glaucoma disease worldwide and growth in geriatric population.
In addition, rise in demand for advanced ophthalmic devices supplement the market growth. The global 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.
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 the surgery type, tit is bifurcated into conventional glaucoma surgeries, and minimally invasive glaucoma surgeries. The end users are classified into eye hospitals, ophthalmology clinics, and outpatient surgical centers.
The glaucoma drainage devices segment is growing at a fast pace, registering a CAGR of 29.7%. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
In addition, glaucoma surgery devices are majorly incorporated in the eye hospitals, and thus this segment is projected to generate the highest revenue throughout the forecast period.
In the recent years, Asia-Pacific has witnessed rapid growth in the glaucoma surgery devices market, owing to steady increase in the prevalence of glaucoma in the Asian population. In addition, rise in the number of people suffering from primary angle-closure glaucoma in Japan, China, and South Korea supplement this growth further.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global glaucoma surgery devices market with the current trends and future estimations to elucidate the imminent investment pockets.
- Comprehensive analysis of the factors that drive and restrict the market growth is provided.
- Comprehensive quantitative analysis of the industry is provided from 2016 to 2023 to assist stakeholders to capitalize on the prevailing market opportunities.
- Extensive analysis of the key segments of the industry helps in understanding the trends in products and surgery types globally.
- Key players and their strategies are provided to understand the competitive outlook of the industry.
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