Glaucoma Surgery Devices Market Size Worth $2.6 Billion by 2027: Grand View Research, Inc.

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13 Apr, 2020, 08:35 GMT

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)

Punches
USC Marker
USC Planner
USC Shaver
Forceps
Algerbrush
Probes
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

Trabeculectomy
Tube Shunt

Minimal Invasive Glaucoma Surgery

Trabecular Meshwork Bypass
Suprachoroidal Space Implants
Subconjunctival space implants

Laser Surgery

Trabeculoplasty
Iridotomy
Cyclophotocoagulation

Glaucoma Surgery Devices End-user Outlook (Revenue, USD Million, 2016 - 2027)

Hospitals
Ophthalmic Clinics
Others

Glaucoma Surgery Devices Regional Outlook (Revenue, USD Million, 2016 - 2027)

North America

U.S.
Canada

Europe

Germany
U.K.
France
Italy
Spain
Netherland
Switzerland
Russia
Belgium
Sweden

Asia Pacific

China
Japan
India
Thailand
South Korea
Indonesia
Philippines
Vietnam
Singapore
Malaysia

Latin America

Brazil
Mexico
Argentina
Colombia
Chile

Middle East & Africa

South Africa
Saudi Arabia
UAE
Israel
Kuwait

Find more research reports on Medical Devices Industry, by Grand View Research:

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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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Grand View Research, Inc.
Phone: 1-415-349-0058
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