Glaucoma Surgery Devices Market Analysis | 2022-2028

Market Insights

The Glaucoma Surgery Devices Market was estimated at US$ 1.75 billion in 2021 and is expected to grow at a CAGR of 7.03% during 2022-2028 to reach US$ 2.81 billion in 2028.

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What are glaucoma surgery devices?

Glaucoma surgery devices refer to medical tools and instruments designed for treating glaucoma, a group of eye conditions that can lead to optic nerve damage and vision loss. These devices are utilized during surgical procedures aimed at lowering intraocular pressure, a key factor in glaucoma progression. Examples of such devices include trabeculectomy instruments, micro-stents, and shunts that facilitate the drainage of aqueous humor to alleviate pressure within the eye. Glaucoma surgery devices are crucial in managing the disease, helping to prevent further damage to the optic nerve and preserve vision in individuals affected by glaucoma.

Market Dynamics

Over the forecast period, the rising global burden of glaucoma is expected to contribute to market growth. According to the American Academy of Ophthalmology (AAO) data, the global prevalence of glaucoma was predicted to be 111.8 million by 2040. As a result, the expansion of the patient base, together with improvements in healthcare facilities, is predicted to raise demand for surgery devices, assisting market growth. Furthermore, government assistance, such as advantageous reimbursement policies and incentives for foreign direct investment, is projected to promote the market for these surgical devices, particularly in emerging nations.

Over the forecast period, rising demand for minimally invasive glaucoma surgery (MIGS) treatments is likely to increase demand for advanced glaucoma surgery devices. MIGS procedures and devices are becoming more popular due to advantages such as faster recovery times, lower costs, and minimal risk of post-surgical problems like hypotony.

Several investments/guidelines in the market have been directed in recent years, which would boost the overall market. Some of them are:

• The increased number of glaucoma care efforts being carried out by the government and various non-governmental organizations is predicted to have a favorable impact on the adoption of sophisticated technologies. These groups give eye exams and mass surgery camps, raise awareness, and support surgical techniques and technology. Such initiatives have lowered the number of undiagnosed glaucoma cases, hence increasing demand for glaucoma treatment techniques and technologies.
• In recent years, patients have favored permanent surgical options over long-term medication maintenance. Glaucoma patients are typically characterized by taking two or more drugs depending on the stage of glaucoma, resulting in a high level of patient compliance. Patients' pharmaceutical load is greatly reduced after glaucoma surgery. Furthermore, therapeutic efficiency issues associated with medications, such as limited absorption, drug resistance, and toxicity, have increased demand for surgical procedures and devices, supporting market expansion.

Segments Analysis

By Treatment Type

The market is further segmented into open-angle glaucoma and closed-angle glaucoma.

By Product Type

The glaucoma surgery devices market has been divided into drainage systems, laser-based devices, implants, and others. Glaucoma drainage devices accounted for the greatest market share in 2021 and are predicted to grow at the quickest CAGR throughout the forecast period. Cataract and glaucoma operations are frequently performed in tandem. The high volume of cataract procedures performed is likely to have a direct positive influence on segment growth. The MIGS drainage device, known as the iStent, was recently approved by the US Food and Drug Administration for use in conjunction with cataract surgery. Furthermore, the introduction of novel and enhanced MIGS devices, such as Microhook ab interno LOT (LOT) and Trabectome, is likely to drive growth in the glaucoma drainage devices segment during the forecast period.

By Application Type

The market is segmented into conventional glaucoma surgeries and minimally invasive glaucoma surgeries. In 2021, the traditional glaucoma surgery segment retained the biggest market share. Longer hospital stays, the availability of other advanced surgical techniques and devices, and the increasing risk of postoperative problems such as leakage, hypotony, choroidal effusion, and hyphema are just a few of the issues prompting patients and surgeons to seek alternatives. Traditional surgery, on the other hand, remains the top choice in emerging countries where the healthcare service business is dominated by private actors. According to the NCBI report, a subconjunctival space implant is roughly 3.5 times more expensive than a trabeculectomy. As a result, this surgical procedure has significant expansion potential, particularly in developing economies such as North African countries.

By End-User Type

The market is divided into hospitals, ophthalmic clinics, ASCs, and others. The hospital segment held the biggest market share in 2021 and is predicted to grow at a healthy CAGR during the forecast period. The availability of highly experienced medical experts, as well as sophisticated surgical devices, is projected to drive segment expansion. Ophthalmic clinics had the second biggest market share and are predicted to grow the fastest during the projection period. The introduction of upgraded surgical instruments, cost efficiency, lower waiting times, and increased awareness of MIGS surgery and treatment devices are likely to drive market growth over the projection period.

Regional Analysis

The glaucoma surgery devices market is broken down geographically into geographies, namely North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

Key Players

The following are the major players in the glaucoma surgery devices market:

• Alcon, Inc.
• Glaukos Corporation
• Abbott Medical Optics
• Allergan Plc
• ASICO
• Carl Zeiss
• Katalyst Surgical
• Lumenis Ltd
• Ziemer Ophthalmic Systems AG
• Iridex Corporation

The overall competitive landscape has been affected due to key strategic moves. 

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s glaucoma surgery devices market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

Recent Developments

The market for glaucoma surgery devices is highly competitive. The market players are highly focused on mergers, expansions, and product approvals, to sustain in this market. Below are a few key developments:

• In November 2021, SMART Solutions by Alcon, a digital platform specifically created for ophthalmology, was demonstrated at the American Academy of Ophthalmology (AAO) 2021 annual conference by Alcon, the world leader in eye care committed to supporting people in seeing brilliantly. This innovative platform reinforces Alcon's leadership in clinic-to-operating room (OR) integration with image-guided technologies and cloud-based planning.
• In July 2021, Johnson & Johnson (J&J) Vision deployed globally the phacoemulsification (phaco) technology, which was developed to provide surgeons with greater comfort and efficiency during cataract surgery. Furthermore, the VERITAS Vision System is intended to improve patient safety. The most common approach for cataract surgery, phacoemulsification, allows doctors to emulsify and remove the internal lens of the eye when it develops cataracts and becomes blurry. The delicate surgery can be difficult on surgeons since it needs a great deal of concentration and control. The VERITAS Vision System's hybrid fluidics technology lowers post-occlusion surge to protect intraocular structures and improve chamber stability.  
• In April 2021, Johnson & Johnson Vision's next-generation phacoemulsification invention, the VERITAS Vision System, received FDA 510(k) clearance and a CE mark. Johnson & Johnson Vision is a branch of the Johnson & Johnson Medical Devices Companies and a global leader in eye health. The high-performance phacoemulsification system uses technology to allow surgeons to steer through any lens density with less surge and better stability. Furthermore, the new technology has ergonomic enhancements that will considerably increase usability during cataract surgery.