Glaucoma Surgery Devices Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Glaucoma Surgery Devices Market is segmented By Product Type (Punches, USC Marker, USC Planer, USC Shaver, Probes & Alger brushes, Diamond Knives, Glaucoma Drainage Devices, Others), By Surgery Type (Trabeculectomy, Tube Shunt Implantation, Cyclophotocoagulation, MIGS, Others), By End Users (Ophthalmic Clinics, Diagnostic Centers, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Glaucoma Surgery Devices Market Size

The Global Glaucoma Surgery Devices Market reached US$ 1.1 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 6.0 billion by 2031. the global glaucoma surgery devices market is expected to exhibit a CAGR of 24.2% during the forecast period (2024-2031).

Glaucoma surgical devices are largely intended to reduce intraocular pressure (IOP), which is the most important modifiable risk factor in glaucoma. These devices serve to reduce or stop the evolution of the illness by lowering IOP and preventing future damage to the optic nerve. The basic objective of glaucoma therapy is to reduce IOP.

Furthermore, the glaucoma surgery devices market size is growing rapidly because of the following factors like growth in the prevalence of glaucoma as well as a surge in the global geriatric population, which is more prone to eye disease,  rise in demand for minimally invasive glaucoma surgery (MIGS) procedures and technological advancements in glaucoma surgery devices, further boost growth of the glaucoma surgical device market.

Glaucoma Surgery Devices Market Summary

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Glaucoma Surgery Devices Market Trends

Glaucoma surgery has seen significant advancements over the years, driven by advancements in surgical techniques, devices, and technologies. For instance, Laser technology is increasingly being used in glaucoma surgery. Laser trabeculoplasty, also known as selective laser trabeculoplasty (SLT), is a technique that employs a laser to increase fluid outflow from the eye, resulting in lower intraocular pressure.

Endoscopic cyclo photocoagulation (ECP) is another laser-assisted treatment that employs laser energy to target and diminish aqueous humour production in the eye. Belkin Vision stated in February 2023 that their Direct SLT Eagle device, a non-contact, automated glaucoma laser therapy, is being utilised to treat glaucoma patients.

Increase in the Prevalence of Eye Diseases

The increase in the prevalence of eye diseases is one of the key drivers that help the market to grow during the forecast period. For instance, according to WHO, globally, at least 2.2 billion individuals worldwide have a near or far vision impairment. Vision impairment may have been avoided or remedied in at least 1 billion, or almost half of these instances.

This 1 billion includes people with moderate to severe distance vision impairment or blindness due to uncorrected refractive error (88.4 million), cataracts (94 million), age-related macular degeneration (8 million), glaucoma (7.7 million), diabetic retinopathy (3.9 million), and near vision impairment due to uncorrected presbyopia (826 million).

High Cost of Surgery

The high cost of surgery is one of the restraints that will hamper the market growth during the forecast period. However, the high cost of glaucoma surgery will hamper the market growth during the forecast period. For instance, a laser surgery considered a low-cost surgery costs $1,000 to $2,000, whereas an incisional surgery will cost around $11,000.

Glaucoma Surgery Devices Market Segment Analysis

The global glaucoma surgery devices are segmented based on product type, surgery type, end user and region.

The Minimally Invasive Glaucoma Surgery (MIGS) From Surgery Type Accounted for Approximately 42.7% of the Glaucoma Surgery  Devices  Share

The minimally invasive glaucoma surgery segment with around 42.7% is expected to dominate during the forecast period. Minimally invasive glaucoma surgery (MIGS) is designed to decrease or prevent optic nerve damage by lowering eye pressure.

MIGS operations have been employed in recent years instead of regular glaucoma surgeries, which are significant surgeries, to lessen some of the difficulties associated with traditional glaucoma surgeries. The traditional methods, such as external tube shunts and trabeculectomy, do lower eye pressure and slow the course of glaucoma, but they are fraught with risks.

For instance, In April 2023  FDA approved the Nova Eye Medical iTrack Advance for sale in the United States. The US Food and Drug Administration has certified Nova Eye Medical's latest generation iTrack Advance canaloplasty equipment for canal-based glaucoma surgery, as the firm aims to make the technology available to a larger variety of eye doctors who want to combine the operation with cataract surgery.

Source: DataM Intelligence Analysis (2023)

Glaucoma Surgery Devices Market Geographical Share

North America Accounted for Approximately 39.1% of the Market Share in 2022

North America is estimated to hold about 39.1% of the total market share throughout the forecast period. It is expected to dominate during the forecast period due to the presence of a majority of market players in this region holding a bigger portion of the worldwide market by various market techniques such as product launches, approvals, acquisitions, and expansions.

For instance,   according to National Glaucoma Research’s updated fact sheet, more than three million americans have glaucoma, with 2.7 million of these individuals (aged 40 and older) suffering from its most prevalent type, open-angle glaucoma. Blindness or poor vision affects around 3.3 million Americans aged 40 and over.  Glaucoma affects 80 million individuals globally, and the figure is anticipated to rise to more than 111 million by 2040.

Source: DataM Intelligence Analysis (2023)

Glaucoma Surgery Devices Companies

The major global players in the glaucoma surgery devices market include Ziemer Ophthalmic Systems AG, Corza Medical, Alcon, Inami & Co Ltd, Katalyst Surgical, Lumenis, Millennium Surgical, Moria Surgical, Zabbys, and Allergan among others.

COVID-19 Impact Analysis

Russia Ukraine Conflict Analysis

The Russia-Ukraine conflict is estimated to have a moderate impact on the global glaucoma surgery devices market, owing to the low prevalence and absence of key market players in this region. However, the impact of the import and export of glaucoma surgery devices is expected to have little influence over the global glaucoma surgery devices market growth over the forecast period.

Key Developments

• In March 2023, Sight Sciences Inc announced the introduction of its Ergo-Series of OMNI Surgical System in the United States, a technology that enables surgeons to undertake minimally invasive, implant-free glaucoma operations in people with primary open-angle glaucoma.
• In June 2022, AbbVie announced to pay USD 60 million for the acquisition rights of iSTAR medical, a Belgian firm developing a less invasive glaucoma-implanted surgical device. iSTAR participated in a premarket approval study in order to market the device in the United States. Until this trial is finished, AbbVie is supporting the development and commercialization of the MINIject device.
• In June 2022, the National Medical Products Administration (NMPA) of China granted Iridex corporations a regulatory licence to market and sell their cyclo G6 platform for the treatment of glaucoma conditions.

Why Purchase the Report?

• To visualize the global glaucoma surgery devices market segmentation based on product type, surgery type, end user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of glaucoma surgery devices market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global glaucoma surgery devices report would provide approximately 53 tables, 54 figures and 195 pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies