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.
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.
For more info visit here: https://www.grandviewresearch.com/industry-analysis/glaucoma-surgery-devices-market
Further key
findings from the report suggest:
- 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.
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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