Glaucoma Surgery Device Trends and Forecast
The future of the global glaucoma surgery device market looks promising with opportunities in the eye hospital & ophthalmology clinic, ambulatory surgical center, and outpatient surgical center markets. The global glaucoma surgery device market is expected to reach an estimated $1.4 billion by 2030 with a CAGR of 6.2% from 2024 to 2030. The major drivers for this market are growing prevalence of eye-related diseases, rising demand for minimally invasive glaucoma surgical procedures, and robust technological advancement in glaucoma surgery devices.
• Lucintel forecasts that, within the type category, conventional glaucoma surgery is expected to witness a higher growth over the forecast period due to its increasing preference to enable affordable intraocular pressure reduction procedures.
• Within the end use category, eye hospitals & ophthalmology clinic will remain the largest segment due to rising availability of expert eye surgeons and increasing expenditure on eye care gadgets by eye hospitals and ophthalmology clinics.
• In terms of region, North America is expected to witness the highest growth over the forecast period due to growing chances of lifestyle diseases, increasing number of geriatric population, and presence of key players in the region.
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Emerging Trends in the Glaucoma Surgery Device Market
Emerging trends in the glaucoma surgery device market demonstrate advances in technology along with changing therapeutic approaches. These trends define future perspectives on glaucoma diagnosis, management, and surgeries.
• Minimally Invasive Glaucoma Surgery (MIGS): MIGS techniques are becoming increasingly popular due to their reduced risk of complications and quicker recovery times. Devices such as microstents and gel stents are designed to lower intraocular pressure (IOP) with minimal disruption to the eye, improving patient comfort and outcomes.
• AI and Robotics Integration: To increase surgical precision and control, glaucoma surgery devices are being equipped with artificial intelligence (AI) and robotics. AI aids in real-time data analysis and decision-making, while robots enhance surgical accuracy.
• Advancements in Laser Technology: New laser technologies are emerging that offer better outcomes in terms of effectiveness and precision when treating glaucoma patients. These include updated selective laser trabeculoplasty (SLT) laser systems and new LASIK procedures with enhanced IOP control.
• Developing Biodegradable Implants: The development of biodegradable implants is gaining momentum as it eliminates the need for secondary surgeries. Over time, these implants dissolve within the eye, controlling intraocular pressure for an extended period while minimizing long-term complications and device-related risks.
• Customization and Personalization of Devices: Customization and personalization are increasingly evident in many glaucoma surgery devices. This has led to individualized treatment approaches that improve surgical outcomes and boost patient satisfaction.
• Emphasis on Early Diagnosis and Preventive Medicine: Regarding glaucoma, there is an emergence of diagnostic equipment designed for early diagnosis and prevention. New diagnostic tools enable quicker interventions, resulting in more effective disease management.
• Global Reach Expansion: Various efforts are underway to make advanced glaucoma surgery devices widely available in the developing world as a way to expand market access. Currently, affordable and adaptable devices have been introduced worldwide to cater to the needs of diverse patient populations.
Innovations, improvements in treatment results, and increased care accessibility have transformed this market. These trends are changing the glaucoma surgery device market forever; advancements in technology and customized approaches make treatment effective and influence market dynamics.
Recent Developments in the Glaucoma Surgery Device Market
The recently recorded changes in the sector of glaucoma and its surgical devices have shown improved treatment options brought about by technological advances. These developments are shaping the future of glaucoma management.
• Introduction of New MIGS Devices: Minimally invasive glaucoma surgery (MIGS) has revolutionized treatment options for this condition due to fewer surgeries and faster patient recovery times compared to traditional approaches. Examples include micro stents and gel stents, which provide effective intraocular pressure (IOP) control and are popular due to their safety for patients.
• Advancements in Laser Surgery Technology: Recent advances in laser surgery technology have brought about better precision and effectiveness in lowering intraocular pressure (IOP) with fewer side effects, making these systems more applicable for individuals with glaucoma worldwide, such as selective laser trabeculoplasty (SLT) lasers and lasers used in LASIK procedures.
• Development of Biodegradable Implants: It is now possible to obtain biodegradable implants that dissolve over time within the eye, reducing long-term complications associated with them and eliminating the need for removal surgeries to manage pressure.
• Integration of AI in Surgical Devices: Precision is being enhanced through the integration of artificial intelligence (AI) into glaucoma surgical devices. AI-assisted systems enable real-time analysis, planning, and surgical interventions, thereby ensuring accurate treatments and positive outcomes for patients.
• Expansion of Remote Monitoring Tools: The availability of new remote monitoring tools has allowed for continuous monitoring of intraocular pressure (IOP) data. This helps both patients and healthcare providers keep track of disease progression, allowing them to adjust treatment strategies accordingly for better overall disease management.
• Customization and Personalization: The market is seeing an increased focus on the customization and personalization of glaucoma surgery devices. Devices are being tailored to meet individual needs, enhancing treatment efficacy and patient satisfaction.
• Emerging Markets: Emerging markets are growing due to the introduction of affordable, adaptable glaucoma surgery devices. Companies are expanding their reach in developing areas, improving access to advanced treatments and fostering market growth.
These key developments have advanced the glaucoma surgery device market by improving treatment options, enhancing precision, and expanding access. Innovations in technology and design are driving market growth and changing glaucoma management.
Strategic Growth Opportunities for Glaucoma Surgery Device Market
Glaucoma surgery devices offer multiple perspectives on strategic growth across numerous applications. Leveraging these opportunities can drive market expansion while improving patient care.
• Emerging Markets: There is significant potential for growth in emerging markets where access to advanced glaucoma treatments is limited. Introducing affordable and adaptable devices can address the needs of underserved populations and expand market reach.
• Evolving Minimally Invasive Techniques: The continued development of minimally invasive glaucoma surgery (MIGS) techniques presents growth opportunities. Enhancing MIGS devices’ capabilities and expanding their applications can lead to broader adoption and better outcomes for patients.
• Digital Health Platform Integration: Integrating digital health platforms, including remote monitoring systems, with glaucoma surgery devices has significant potential. This integration supports better data management, real-time monitoring, and remote consultations, enhancing overall treatment efficacy.
• Personalized Treatment Solutions: Developing personalized treatment solutions aimed at meeting individual patient needs presents an opportunity for expansion. Custom-made equipment, together with tailored plans, may enhance surgical outcomes, consequently leading to customer satisfaction and boosting market share.
• Research and Development Investment: Continued investment in research and development (R&D) for new glaucoma surgery devices and technologies offers significant growth potential. Innovative solutions and cutting-edge technologies can drive market growth and lead to new treatment options.
These strategic growth opportunities are driving the expansion of the glaucoma surgery device market by improving access to care, enhancing treatment options, and fostering innovation. Capitalizing on these opportunities can lead to broader adoption and better management of glaucoma conditions.
Glaucoma Surgery Device Market Driver and Challenges
The glaucoma surgery device market is influenced by various drivers and challenges, including technological advancements, economic factors, and regulatory considerations. Understanding these factors is crucial for navigating the market effectively.
The factors responsible for driving the glaucoma surgery device market include:
• Technological Advancements: Innovations in device technology, such as new MIGS devices, advanced laser systems, and AI integration, are driving market growth. These developments enhance therapy efficiency, thereby boosting demand for advanced glaucoma surgical instruments.
• Increasing Prevalence of Glaucoma: The growing prevalence of glaucoma worldwide is boosting the demand for effective surgical solutions. As more people around the globe are affected by glaucoma, the need for monitoring and intervention mechanisms increases.
• Rising Awareness and Early Detection: Increased awareness of glaucoma, together with advances in diagnostic technologies, has been a critical driver of early detection and treatment. Earlier diagnosis facilitates management, thus creating a demand for more advanced surgical products.
• Expanding Healthcare Infrastructure: The expanding healthcare infrastructure in developing countries is allowing more patients to access glaucoma treatments. This increase in healthcare-related investment encourages market expansion and the adoption of advanced surgical devices.
• Minimally Invasive Techniques: Minimally invasive surgical alternatives are a key driver for the growth of this market. MIGS devices and other minimally invasive options not only reduce recovery times but also decrease side effects, thereby increasing interest among patients and medical practitioners.
Challenges in the glaucoma surgery device market include:
• High Cost of Advanced Devices: The high cost of modern glaucoma surgery devices can be an obstacle to their widespread use worldwide, especially in less developed regions. Tight budgetary considerations might limit access to top-tier therapies, thereby affecting market growth.
• Regulatory Hurdles: Navigating regulatory processes and obtaining approvals for novel devices can be complicated. Conforming to different regulations across the globe may delay product launches and affect entry into specific markets.
• Limited Reimbursement Coverage: Inadequate reimbursement coverage for glaucoma surgery devices may hinder market growth. Insufficient insurance coverage may prevent customers from accessing state-of-the-art treatments, hampering overall uptake levels.
Market development is driven by factors such as new technological inventions and increasing prevalence rates within the population. However, challenges such as cost, regulation, and reimbursement systems must be addressed to increase access to these facilities and facilitate further market growth.
List of Glaucoma Surgery Device Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies glaucoma surgery device companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the glaucoma surgery device companies profiled in this report include-
• AbbVie
• Alcon
• Glaukos
• Johnson & Johnson
• iStar Medical
• Lumibird Medical
• Lumenis
• New World Medical
• Santen Pharmaceutical
• Topcon
Glaucoma Surgery Device by Segment
The study includes a forecast for the global glaucoma surgery device by surgery type, product, end use, and region.
Glaucoma Surgery Device Market by Surgery Type [Analysis by Value from 2018 to 2030]:
• Conventional Glaucoma Surgeries
• Minimally Invasive Glaucoma Surgeries
Glaucoma Surgery Device Market by Product [Analysis by Value from 2018 to 2030]:
• Implants & Stents
• Glaucoma Drainage Devices
• Glaucoma Laser Devices
Glaucoma Surgery Device Market by End Use [Analysis by Value from 2018 to 2030]:
• Eye Hospitals & Ophthalmology Clinics
• Ambulatory Surgical Centers
• Outpatient Surgical Centers
• Others
Glaucoma Surgery Device Market by Region [Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Country Wise Outlook for the Glaucoma Surgery Device Market
The advent of technology has resulted in tremendous growth in the glaucoma surgery device market, driven by increasing healthcare requirements. These trends are evident in key developments within the United States, Indian, German, and Japanese markets.
• United States: In the US, there have been recent advancements in glaucoma surgery devices, which include various minimally invasive surgical techniques as well as new devices. The latest innovations include brand-new MIGS (minimally invasive glaucoma surgery) tools that are safer and more effective. Technological advancements, such as microstents and laser systems, have proven useful for reducing intraocular pressure (IOP) rates without requiring extensive recovery periods. Furthermore, increased investment in research and development is enhancing innovation in treatment options, improving patient outcomes, and expanding marketing opportunities.
• China: The Chinese glaucoma surgery device market is growing rapidly due to increased awareness and technological advancements. The introduction of low-cost MIGS devices specifically designed for local needs has been observed within this market segment. Chinese manufacturers are concentrating on producing cost-effective devices, including micro-shunts and other laser-based instruments that cater to a large population of patients. Government initiatives, along with healthcare reforms, encourage access to advanced treatments for glaucoma, helping boost accessibility and expand the market.
• Germany: Germany maintains its leadership position in glaucoma surgery device innovation, focusing heavily on precision technologies. Recent developments involve unveiling high-tech surgical equipment alongside other apparatus aimed at perfecting accuracy during glaucomatous surgeries. New MIGS units with improved designs for better integration and less traumatic operations have been introduced to the market. In Germany, increased emphasis on research activities and clinical trials has led to continuous improvement in treatment methods, resulting in superior patient outcomes and maintaining its leadership position.
• India: The glaucoma surgical devices market is undergoing transformation in India, enhancing availability and reducing costs. These developments include the introduction of low-cost MIGS devices and efficient surgical aids designed for resource-limited areas. Companies in India are committed to delivering high-quality medical equipment at lower prices, which can be widely adopted across various healthcare facilities. Additionally, government health programs and increased funding for ophthalmic research contribute to market growth and the availability of advanced treatment alternatives.
• Japan: With a focus on sophisticated technologies and accuracy, Japan continues to make headway in the glaucoma surgery device market. Recent additions include new surgical tools and devices that utilize cutting-edge technology for improved IOP control. Japanese innovators are developing devices that provide greater efficacy by enhancing safety features, such as innovative laser systems and implantable devices. The strong push for technology research and development, coupled with a well-established healthcare system, has led to continuous efforts aimed at providing better glaucoma treatments.
Features of the Global Glaucoma Surgery Device Market
Market Size Estimates: Glaucoma surgery device market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Glaucoma surgery device market size by surgery type, product, end use, and region in terms of value ($B).
Regional Analysis: Glaucoma surgery device market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different surgery types, products, end uses, and regions for the glaucoma surgery device market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the glaucoma surgery device market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
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FAQ
Q.1 What is the glaucoma surgery device market size?
Answer: The global glaucoma surgery device market is expected to reach an estimated $1.4 billion by 2030.
Q.2 What is the growth forecast for glaucoma surgery device market?
Answer: The global glaucoma surgery device market is expected to grow with a CAGR of 6.2% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the glaucoma surgery device market?
Answer: The major drivers for this market are growing prevalence of eye-related diseases, rising demand for minimally invasive glaucoma surgical procedures, and robust technological advancement in glaucoma surgery devices.
Q4. What are the major segments for glaucoma surgery device market?
Answer: The future of the glaucoma surgery device market looks promising with opportunities in the eye hospital & ophthalmology clinic, ambulatory surgical center, and outpatient surgical center markets.
Q5. Who are the key glaucoma surgery device market companies?
Answer: Some of the key glaucoma surgery device companies are as follows:
• AbbVie
• Alcon
• Glaukos
• Johnson & Johnson
• iStar Medical
• Lumibird Medical
• Lumenis
• New World Medical
• Santen Pharmaceutical
• Topcon
Q6. Which glaucoma surgery device market segment will be the largest in future?
Answer: Lucintel forecasts that conventional glaucoma surgery is expected to witness higher growth over the forecast period due to its increasing preference to enable affordable intraocular pressure reduction procedures.
Q7. In glaucoma surgery device market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period due to growing chances of lifestyle diseases, increasing number of geriatric population, and presence of key players in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the glaucoma surgery device market by surgery type (conventional glaucoma surgeries and minimally invasive glaucoma surgeries), product (implants & stents, glaucoma drainage devices, and glaucoma laser devices), end use (eye hospitals & ophthalmology clinics, ambulatory surgical centers, outpatient surgical centers, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Glaucoma Surgery Device Market, Glaucoma Surgery Device Market Size, Glaucoma Surgery Device Market Growth, Glaucoma Surgery Device Market Analysis, Glaucoma Surgery Device Market Report, Glaucoma Surgery Device Market Share, Glaucoma Surgery Device Market Trends, Glaucoma Surgery Device Market Forecast, Glaucoma Surgery Device Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.