Glaucoma Surgery Devices Market Growth Aspect Forecast 2018 – 2026
Glaucoma is an ocular disease which affects the optic nerve of the iris and progression of the same results in vision loss and blindness. According to the World Health Organization (WHO), glaucoma is the most cause of blindness across the world. Currently, there are no existing treatments for glaucoma; however, some commercially available therapies focus on reducing the intraocular pressure, which is responsible for the development and progression of the disease. The treatment for glaucoma starts with topical eye drops, which is an alternative used to delay surgery.
Photodynamic therapy and laser therapy are effective solutions that perform well with surgery options. Rise in the number of glaucoma cases, easy availability of medical insurance coverage for diagnosis and treatment, and growth in demand for minimally invasive glaucoma surgeries are expected to drive the global glaucoma surgery devices market during the forecast period. Furthermore, increase in health care expenditure and rise in geriatric population are expected to fuel the glaucoma surgery devices market during the forecasted period.
The global glaucoma surgery devices market can be segmented into types of product, types of surgery, end-user, and region. Based on product type, the market is segregated into punches, USC planer, USC marker, USC shaver, Alger brushes and probes, forceps, glaucoma drainage devices, knives, and others. In terms of types of surgery, the glaucoma surgery devices market can be divided into minimally invasive glaucoma surgeries (MIGS), tube shunt implantation, trabeculectomy, cyclophotocoagulation, and others. Among these segments, the MIGS segment is anticipated to dominate the market during the forecasted period owing to rising demand for minimally invasive and patient-friendly procedures. Based on end-user, the glaucoma surgery devices market can be categorized into diagnostic centers, eye-hospitals, and others.
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The global glaucoma surgery devices market has a presence of several regional players which have a huge market share in emerging countries operating at regional or country level. In terms of geography, the global glaucoma surgery devices market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The U.S. dominates the market due to the increase in acceptance of treatment options. Additionally, rising awareness among patients regarding glaucoma and the introduction of favorable reimbursement policies are anticipated to fuel the glaucoma surgery devices market in North America during the forecast period.
Europe is the second largest market for the glaucoma surgery devices market. The market in Asia Pacific, especially in countries such as India, China, and Japan, is anticipated to expand at a rapid pace in the next few years due to rising awareness regarding glaucoma surgeries and booming medical tourism in this region. The market in Middle East and Africa and Latin America is projected to expand at a sluggish pace in the near future.
Major players operating in the global glaucoma surgery devices market are Abbott Laboratories, Glaukos Corporation, Alcon, Inc., ASICO, Carl Zeiss Meditec AG, Katalyst Surgical, Nidek Co., Ltd., Lumenis Ltd., Ziemer Ophthalmic Systems AG, and Iridex Corporation.
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