13 Apr, 2020, 04:35 ET
SAN FRANCISCO, April 13, 2020 /PRNewswire/ -- The global glaucoma surgery devices market size is estimated to reach USD 2.6 billion by 2027, registering a CAGR of 6.9%, according to a new report by Grand View Research, Inc. Growing geriatric population and high treatment cost of medications are some of the major factors driving the market. High prevalence of glaucoma in the population aged 45 and above, along with lifestyle diseases, including diabetes, is expected to foster the market growth over the forecast period.
Key suggestions from the report:
- By product, the laser system held the second-largest share in the market owing to factors such as accessibility and patient acceptability
- Based on the surgery method, the traditional method such as trabeculectomy held the largest market share in 2019 owing to its success rate in IOP reduction and low treatment cost
- The cyclophotocoagulation laser surgery segment is expected to expand at the fastest CAGR over the forecast period
- On the basis of end user, ophthalmic clinics are expected to expand at the fastest CAGR over the forecast period
- North America held the largest share in 2019 and is expected to expand at a healthy CAGR over the forecast period
- Asia Pacific is expected to be the fastest-growing regional glaucoma surgery devices market over the forecast period due to large unmet needs, increasing healthcare expenditure, and rising awareness about the disease and its treatment procedures
- Some of the prominent companies are Alcon, Inc.; Glaukos Corporation; Abbott Medical Optics; Allergan Plc.; ASICO; Carl Zeiss Meditec AG; Katalyst Surgical; Lumenis Ltd.; Ziemer Ophthalmic Systems AG; and Iridex Corporation.
Read 130 page research report with ToC on "Glaucoma Surgery Devices Market Size, Share & Trends Analysis Report By Product (Glaucoma Drainage Device, Laser System), By Surgery Method, By End User, By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/glaucoma-surgery-devices-market
Several initiatives undertaken by the government and NGOs in spreading awareness about glaucoma and its treatment procedures are expected to aid the demand for advanced surgical techniques. Additionally, shift in preference towards advanced minimally invasive surgical options is expected to have a positive impact on the market growth.
Frequent launches of advanced glaucoma surgical devices are expected to fuel the growth of the glaucoma surgery devices market during the forecast period. For instance, in June 2018, Glaukos announced FDA approval for its second generation MIGS device, called iStent inject. The device is uniquely designed to optimize the natural outflow of aqueous humor to yield better results. Additionally, voluntary withdrawal of Alcon MIGS product, Cypass from the market has offered an opportunity for the other market players to expand their market share.
Grand View Research has segmented the global glaucoma surgery devices market based on product, surgery method, end user, and region:
- Glaucoma Surgery Devices 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)
- Glaucoma Surgery Devices Surgery Method Outlook (Revenue, USD Million, 2016 - 2027))
- Traditional Glaucoma Surgery
- Tube Shunt
- Minimal Invasive Glaucoma Surgery
- Trabecular Meshwork Bypass
- Suprachoroidal Space Implants
- Subconjunctival space implants
- Laser Surgery
- Glaucoma Surgery Devices End-user Outlook (Revenue, USD Million, 2016 - 2027)
- Ophthalmic Clinics
- Glaucoma Surgery Devices Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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