The global glaucoma surgery devices market is predicted to surpass around USD 3.16 billion by 2030 with a CAGR of 7.7% from 2022 to 2030
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.
Scope of The Report
|Revenue Forecast by 2030||USD 15 billion|
|Growth rate from 2022 to 2030||CAGR of 7.7%
|Forecast Period||2022 to 2030|
|Segmentation||Product, surgery method, end user, and region
|Companies Covered||Alcon, Inc.; Glaukos Corporation; Abbott Medical Optics; Allergan Plc.; ASICO; Carl Zeiss Meditec AG; Katalyst Surgical; Lumenis Ltd.; Ziemer Ophthalmic Systems AG; Iridex Corporation.|
Based on product, the market is classified into punches, USC marker, USC planner, USC shaver, forceps, algerbrush, probes, diamond knives, glaucoma drainage device (shunts, stents, implants, valve), laser system, and others (cannula, speculum, needle holders, scissors).
Glaucoma drainage devices held the largest market share in 2021 and are expected to expand at the fastest CAGR over the forecast period. Cataract surgery and glaucoma surgeries are often performed in combination. High procedural volume of cataract surgeries is expected to have a direct positive impact on the segment growth. The MIGS drainage device, called iStent, has recently been approved by the U.S. FDA for use in combination with cataract surgery. Furthermore, the advent of novel and advanced MIGS devices, such as Microhook ab interno LOT (µLOT) and Trabectome, is expected to boost the growth of the glaucoma drainage devices segment over the forecast period.
Products such as forceps, algerbrush, probes, scissors, needle holders, and diamond knives individually held a decent share in the market in 2021 and are expected to witness steady growth over the forecast period. The segment space is highly fragmented with the presence of a large number of market players. Most of the users prefer buying from local market players, which offer products and devices at a relatively lower price. Increasing demand for surgical devices in underdeveloped countries of MENA is expected to boost the growth of these segments over the forecast period.
Surgery Method Insights
Based on the surgery method, the global glaucoma surgery devices market is segmented into traditional glaucoma surgery, minimally invasive glaucoma surgery, and laser surgery. The traditional glaucoma surgery segment is further divided into trabeculectomy and tube shunt surgery. Minimal invasive glaucoma surgery (MIGS) is further segmented into trabecular meshwork bypass, suprachoroidal space implants, and subconjunctival space implants. Laser surgery is sub-segmented into trabeculoplasty, iridotomy, and cyclophotocoagulation.
The traditional glaucoma surgery segment held the largest market share in 2019. Longer hospital stays, availability of other advanced surgical technology and devices, and increased chances of postoperative complications, such as leakage, hypotony, choroidal effusion, and hyphema, are some of the factors driving the patients and surgeons to opt for alternatives. However, traditional surgery is still the first choice in developing countries, where the healthcare service industry is dominated by private players. As per the NCBI report, a subconjunctival space implant is approximately 3.5 times costlier than trabeculectomy. Therefore, this surgery method has great potential for growth, especially in underdeveloped economies such as North African countries.
MIGS held a significant proportion in the market for glaucoma surgery device in 2019 and is expected to expand at a healthy CAGR over the forecast period. Clinical evidences suggesting the use of two iStent’s (MIGS devices) for an efficient treatment of glaucoma are expected to drive the segment. Furthermore, frequent launches of advanced glaucoma drainage devices are expected to boost the segment growth over the forecast period. For instance, Ivantis, a company dedicated to the development of new solutions and devices for glaucoma treatment, received approval from the U.S. FDA for the launch of its MIGS device called “Hydrus Microstent” in 2020.
Based on end user, the market is segmented into hospitals, ophthalmic clinics, and others. The hospital segment held the largest share in the market in 2021 and is expected to exhibit a lucrative CAGR over the forecast period. Large patient base, availability of highly skilled medical professionals, and advanced surgical devices are the key factors expected to boost the segment growth.
Ophthalmic clinics held the second largest share in 2021 and are expected to witness the fastest growth over the forecast period. Introduction of advanced surgical devices, cost efficiency, shorter waiting time, and rising awareness about MIGS surgery and treatment devices are expected to boost the segment growth during the forecast period.
The others segment includes academics, research institutes, and mobile ophthalmic units. The segment is expected to expand at a healthy CAGR over the forecast. Rising number of undiagnosed glaucoma cases, increasing investments in glaucoma research, and poor healthcare facilities in remote areas are a few of the factors expected to fuel the segment growth over the forecast period.
North America held the largest market share in 2021.Presence of leading market players, efficient reimbursement policies, and public health programs, such as Eye America and Vision USA, are the factors expected to drive the regional market over the forecast period. As per the Glaucoma Research Foundation report of 2018, over 3 million Americans are living with glaucoma and this number is expected to double by 2050. Additionally, increasing awareness about glaucoma and early product availability are the factors expected to aid the market growth.
Europe held the second-largest share in 2021. The region has a dynamic reimbursement paradigm for glaucoma surgery, where some countries are having proper coverage on modern surgery devices and methods while others must cater to trabeculectomy despite the availability of wider options. European countries such as Germany, France, and Russia have the highest number of glaucoma surgeries performed annually in the world.
Asia Pacific is expected to witness the fastest growth over the forecast period. Large unmet needs, coupled with increasing incidence of open-angle glaucoma, especially in countries such as Japan, China, and India, are expected to fuel the growth of the market in this region. Additionally, the region is expected to witness high demand for MIGS devices due to its continuous improvement in the healthcare facilities and resources.
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