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Glaucoma Surgery Devices Market: What is the Projected CAGR for 2024-2033?

In recent times, there has been a swift expansion of the glaucoma surgery devices market. The projected growth is from $1.73 billion in 2023 to $1.95 billion in 2024, marking a compound annual growth rate (CAGR) of 12.8%. The surge seen during the historic period can be linked to factors like an ageing population, a higher incidence of glaucoma, a heightened level of awareness and screening programs, advances in healthcare infrastructure, as well as insurance coverage and reimbursement policies.

The market size of glaucoma surgery devices is anticipated to experience brisk growth in the coming years. The size is set to inflate to $3.25 billion by 2028 with a compound annual growth rate (CAGR) of 13.7%. Factors such as the rise in the worldwide aging population, enhanced awareness about healthcare, partnered research and development endeavors, the worldwide spread of healthcare services, and patient inclination towards outpatient procedures are driving growth during the forecast period. Key trends during this period include decentralization and grid resilience, regulatory surroundings, advances in technology, joining forces with renewable sources, and environmental considerations.

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What Are the Primary Drivers Supporting the Growth of the glaucoma surgery devices Market?

The rise in glaucoma incidence is poised to propel the growth of the glaucoma surgery devices market. Glaucoma, a degenerative eye disease that impairs the optic nerve and can result in irreversible vision impairment if not timely diagnosed and treated, greatly benefits from glaucoma surgery devices. These devices are integral to carrying out glaucoma surgery and have transformed these procedures into safer, more efficient, and less intrusive endeavors, thereby substantially contributing to a surge in demand. For example, as per data shared by the World Glaucoma Association (WGA), a Dutch independent organization for glaucoma science and care, the latest census and prevalence estimations revealed that glaucoma impacted 79.6 million persons in 2020. By 2040, it is projected that 111.8 million individuals worldwide will be afflicted with glaucoma. Moreover, in 2020, over 11 million individuals (representing 13% of cases) suffered bilateral blindness due to glaucoma. Consequently, the escalating prevalence of glaucoma will catalyze the market growth of glaucoma surgery devices.

What Are the Core Segments of the Glaucoma Surgery Devices Market?

1) By Product: Drainage Systems, Laser-Based Devices, Implants, Other Products

2) By Treatment: Open-Angle, Closed-Angle

3) By Type Of Surgery: Angle Closure Glaucoma Surgery, Aqueous Shunt Surgery, Laser Surgery, Other Type Of Surgeries

4) By Application: Conventional Glaucoma Surgeries, Minimally Invasive Glaucoma Surgeries

5) By End User: Eye Hospitals, Ophthalmology Clinics, Outpatient Surgical Centers

What Trends Are Paving the Way for Change in the Glaucoma Surgery Devices Market?

The emergence of technological innovations is a noteworthy trend seen in the glaucoma surgery devices market. Many of the leading companies in this sector are focusing on the creation of groundbreaking technologies to maintain their market dominance. Sight Sciences Inc., an American eyecare tech firm, serves as a prime example with the launch of the SION Surgical Instrument in August 2022, the first-ever bladeless tool used for goniotomy. This state-of-the-art, implant-free Minimally Invasive Glaucoma Surgery (MIGS) device is tailored to offer a uniform and controlled procedure in goniotomy, potentially leading to improved results for glaucoma patients. The technology utilises a flexible catheter to produce micro-incisions in the trabecular meshwork without the need of a blade. The bladeless aspect of the SION device was designed to improve safety and ease of use by eliminating the necessity to navigate sharp tools around the intricate structure of the eye’s anterior chamber and iridocorneal angle. The design specifications are intended to enhance the efficiency and precision of the excisional tissue removal procedure.

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Which Regions Are Leading the Charge in Glaucoma Surgery Devices Market Development?

North America was the largest region in the glaucoma surgery devices market in 2023. The regions covered in the glaucoma surgery devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Glaucoma Surgery Devices Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the glaucoma surgery devices market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Glaucoma Surgery Devices Market Include

1. Glaucoma Surgery Devices Market Executive Summary

2. Glaucoma Surgery Devices Market Segments

3. Glaucoma Surgery Devices Market Size And Template Market Growth Rate

4. Key Glaucoma Surgery Devices Market Trends

5. Major Glaucoma Surgery Devices Market Drivers

……

25. Key Mergers And Acquisitions In The Glaucoma Surgery Devices Market

26. Top Glaucoma Surgery Devices Companies

27. Glaucoma Surgery Devices Market Opportunities And Strategies

28. Glaucoma Surgery Devices Market, Conclusions And Recommendations

29. Appendix

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