Jun 09, 2023

Glaucoma Surgery Devices Global Market Report 2023

Major players in the glaucoma surgery devices market are Alcon, Johnson & Johnson, Abbott Laboratories, Carl Zeiss Meditec AG, Bausch & Lomb Inc., Topcon Corporation, HAAG-Streit Holding AG, Essilor International S.

New York, June 08, 2023 (GLOBE NEWSWIRE) -- announces the release of the report "Glaucoma Surgery Devices Global Market Report 2023" - A., Hoya Corporation, Sonomed Escalon, Iridex Corporation Ltd., Ellex Medical Lasers Ltd., Ziemer Ophthalmic Systems AG, Katalyst Surgical and Nidek Co. Ltd.The global glaucoma surgery devices market is expected to grow from $1.55 billion in 2022 to $1.73 billion in 2023 at a compound annual growth rate (CAGR) of 11.58%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The glaucoma surgery devices market is expected to reach $2.86 billion in 2027 at a CAGR of 13.41%.The glaucoma surgery devices market consists of sales ultrasound equipment, tube shunt, and aqueous shunts that help to perform glaucoma surgeries.The market value includes the value of related goods sold by the service provider or included within the service offering.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.Glaucoma surgery devices refer to various medical instruments and tools used to perform surgical procedures on the eye to treat glaucoma.The goal of surgical glaucoma treatment is to increase aqueous outflow capacity in order to decrease intraocular pressure.Glaucoma is a group of eye diseases that damage the optic nerve and can result in vision loss and blindness.North America was the largest region in the glaucoma surgery devices market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of glaucoma surgery devices are drainage systems, laser-based devices, implants, and others, which are used to treat open-angle and closed-angle glaucoma.Drainage systems refer to catheters positioned close to the surgical site to drain any blood, pus, or fluid and stop it from building up inside the body.Various types of surgery are included, such as angle closure glaucoma surgery, aqueous shunt surgery, laser surgery, and others.Drainage systems refer to catheters positioned close to the surgical site to drain any blood, pus, or fluid and stop it from building up inside the body.These are used for several applications, such as conventional glaucoma surgeries and minimally invasive glaucoma surgeries, and are used by various end users, such as eye hospitals, ophthalmology clinics, and outpatient surgical centers.The growth in the prevalence of glaucoma is expected to boost the growth of the glaucoma surgery devices market.Glaucoma is a progressive eye disease that damages the optic nerve and can lead to permanent vision loss if not diagnosed and treated promptly.Glaucoma surgery devices play a major role in executing glaucoma surgery, and they have made glaucoma surgeries safer, more effective, and less invasive, which significantly contributes to the increasing demand. For instance, according to an article shared by the World Glaucoma Association (WGA), a Netherlands-based independent organization for glaucoma science and care, the most recent census and prevalence estimates estimated that glaucoma affected 79.6 million people in 2020. In 2040, there will probably be 111.8 million people in the world. In 2020, more than 11 million people (or 13% of cases) will be bilaterally blind as a result of glaucoma. Therefore, the growth in the prevalence of glaucoma will drive the glaucoma surgery devices market forward.Technological advancements are a key trend gaining popularity in the glaucoma surgery devices market.Major companies operating in the glaucoma surgery devices market are focused on the development of new and innovative technologies to sustain their position in the market.For instance, in August 2022, Sight Sciences Inc., a US-based eyecare technology company, launched the SION™ Surgical Instrument, the first bladeless device used in goniotomy. It is a novel and implant-free Minimally Invasive Glaucoma Surgery (MIGS) device that is designed to provide a consistent and controlled approach to goniotomy, which may lead to better outcomes for patients with glaucoma. This technology uses a flexible catheter to create micro-incisions in the trabecular meshwork without a blade. SION's bladeless technology was created to increase safety and ease of use by removing the need to maneuver sharp instruments around the anatomy of the eye's anterior chamber and iridocorneal angle. The design elements are meant to increase the effectiveness and finish of the excisional tissue removal process.In October 2022, Alcon, a Switzerland-based ophthalmology company, acquired Ivantis Inc. for an undisclosed amount. The acquisition was intended to expand Alcon's global surgical portfolio by adding a hydrus microstent, a minimally invasive device for treating patients with mild-to-moderate primary open-angle glaucoma. Ivantis is a US-based technology company that specializes in developing minimally invasive glaucoma surgery (MIGS) devices, including the hydrus microstent, designed to help restore normal fluid flow in the eye and reduce intraocular pressure.The countries covered in the glaucoma surgery devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The glaucoma surgery devices market research report is one of a series of new reports that provides glaucoma surgery devices market statistics, including glaucoma surgery devices industry global market size, regional shares, competitors with a glaucoma surgery devices market share, detailed glaucoma surgery devices market segments, market trends and opportunities, and any further data you may need to thrive in the glaucoma surgery devices industry. This glaucoma surgery devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: ReportlinkerReportLinker is an award-winning market research solution. 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