LONDON--(BUSINESS WIRE)--The global glaucoma surgery devices market is expected to grow by USD 1.53 billion as per Technavio. This marks a significant market slowdown compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 31%. Request free sample pages
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The market is driven by the increasing prevalence of glaucoma. In addition, the rising adoption of SLT as primary therapy is anticipated to boost the growth of the glaucoma surgery devices market.
An uncontrolled increase in intraocular pressure (IOP) is witnessed in patients suffering from the chronic condition, glaucoma. The condition can lead to progressive, irreversible vision loss and blindness in patients. As a result, patients are required to continuously undergo treatment to control the severity. The risk of acquiring glaucoma also increases with elevated diabetes, smoking, age, and a family history of glaucoma. The prevalence of glaucoma is expected to increase from approximately 73 million patients in 2017 to 91 million in 2025 around the world. Reducing IOP can clinically subdue the condition. However, when the medication is unable to control IOP adequately, surgeons recommend surgery for patients. This is propelling the adoption of glaucoma surgery devices. Thus, the increasing prevalence of glaucoma is expected to drive market growth during the forecast period.
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Major Five Glaucoma Surgery Devices Companies:
Alcon Inc. operates the business under various segments such as Surgical and Vision Care. The company offers MIGS stents, which is a micro invasive glaucoma surgical device indicated for the treatment of adults with mild-to-moderate primary open-angle glaucoma.
Allergan Plc offers products through the following business units: US Specialized Therapeutics, US General Medicine, and International. The company offers MIGS stents, which are used for the surgical management of refractory glaucomas.
Carl Zeiss Meditec AG
Carl Zeiss Meditec AG operates under various business segments, namely Ophthalmic Devices SBU and Microsurgery SBU. The company offers VISULAS therapeutic lasers and OPMI surgical microscopes. These microscopes are used for advanced glaucoma treatment.
Ellex Medical Lasers Ltd.
Ellex Medical Lasers Ltd. offers products through the following business segments: Lasers & Ultrasounds, 2RT, and iTrack. The company offers iTrack, which is a surgical system used to restore eye's natural outflow pathway to reduce IOP.
Glaukos Corp. offers products through the Ophthalmic medical devices business segment. The company offers novel surgical devices and sustained pharmaceutical therapies for glaucoma. They also provide iStent, which is a micro-invasive glaucoma surgery device.
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Glaucoma Surgery Devices Market Product Outlook (Revenue, USD Billion, 2020-2024)
- MIGS devices
- Laser therapy devices
- Conventional therapy devices
Glaucoma Surgery Devices Market Geographic Landscape Outlook (Revenue, USD Billion, 2020-2024)
- North America
- Key leading countries
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