Dublin, Oct. 31, 2023 (GLOBE NEWSWIRE) -- The "Glaucoma Surgery Devices Market Size, Share & Trends Analysis Report By Product (Laser Systems, Diamond Knives), By Surgery Method (MIGS, Laser Surgery), By End-use (Hospitals, Ophthalmic Clinics), And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global glaucoma surgery devices market is expected to reach USD 2.27 billion by 2030, registering a CAGR of 4.61% from 2023 to 2030.
The rising global burden of glaucoma is expected to contribute to market growth over the forecast period. In addition, government support, such as favorable reimbursement policies and foreign direct investment provisions, is expected to drive market growth, especially in developing regions. Rising demand for Minimally Invasive Glaucoma Surgery (MIGS) procedures is expected to drive the demand for advanced glaucoma surgery devices over the forecast period.
The government and non-profit organizations have launched several campaigns to raise knowledge about glaucoma and the procedures used to treat it. These efforts are expected to help increase the demand for cutting-edge surgical methods. In addition, a shift in consumer preference toward sophisticated minimally invasive surgical procedures is anticipated to positively affect market expansion.
Moreover, the high adoption of surgical treatment over medications for the treatment of glaucoma is expected to boost the market growth in the near future. The traditional way of glaucoma therapy involving topical medications is considered first-line treatment followed by laser surgery.
The development of new procedures, such as MIGS, creates new growth opportunities in the market. According to the National Library of Medicine (NCBI), approximately 40, 000 MIGS surgical procedures were performed in patients diagnosed with glaucoma in 2018. This minimally invasive surgery can reduce hospital stays, lowering the chance of patients contracting hospital-acquired infections. Shorter hospital stays also enable patients to return to their normal lives quicker.
Frequent launches of advanced devices are also expected to fuel market growth during the forecast period. For instance, in April 2023, Johnson & Johnson Vision received the U.S. FDA 510 (k) clearance for its ELITA Femtosecond laser for the development of LASIK flaps.
Companies Mentioned
- Alcon, Inc.
- Glaukos Corporation
- Johnson & Johnson Vision
- AbbVie Inc. (Allergan Plc.)
- ASICO, LLC
- Carl Zeiss Meditec AG
- Katalyst Surgical
- Lumenis Ltd
- Ziemer Ophthalmic Systems AG
- Iridex Corporation
- Altomed
Glaucoma Surgery Devices Market Report Highlights
- By product, the traditional surgery devices segment dominated the market by capturing a share of over 40% in 2022 owing to the high preference for traditional glaucoma surgery
- Based on surgery method, the traditional glaucoma surgery segment held the largest market share of 35.11% in 2022 owing to its efficiency
- The ophthalmic clinics end-use segment is expected to expand at the fastest CAGR of 4.80% over the forecast period attributed to the rising number of patients suffering from ophthalmic and other related disorders
- North America held the largest share of 37.26% in 2022 and is expected to expand at a healthy CAGR over the forecast period
- Asia Pacific is expected to be the fastest-growing regional market over the forecast period due to the presence of key players and the increasing prevalence of diabetes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 188 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $1.57 Billion |
| Forecasted Market Value (USD) by 2030 | $2.27 Billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Glaucoma Surgery Devices Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Reimbursement framework
3.4. Market Dynamics
3.4.1. Market driver analysis
3.4.1.1. Rising geriatric population
3.4.1.2. Growing adoption of surgical treatments for glaucoma
3.4.1.3. Rising number of government and non-government glaucoma care initiatives
3.4.1.4. Growing prevalence of diabetes
3.4.2. Market restraint analysis
3.4.2.1. Availability of alternative treatment methods
3.4.2.2. Lack of awareness about glaucoma and its treatment procedures in underdeveloped countries
3.5. Glaucoma Surgery Devices Market Analysis Tools
Chapter 4. Glaucoma Surgery Devices Market: Product Estimates & Trend Analysis
Chapter 5. Glaucoma Surgery Devices Market: Surgery Method Estimates & Trend Analysis
Chapter 6. Glaucoma Surgery Devices Market: End-use Estimates & Trend Analysis
Chapter 7. Glaucoma Surgery Devices Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/aev6qh
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