Yahoo Finance The Global Glaucoma Drainage Devices Market to Register Growth at a Stunning CAGR of 11.95% by 2027 | DelveInsight
The glaucoma drainage devices market is anticipated to boost owing to the rising prevalence of glaucoma diseases, the rising geriatric population susceptible to glaucoma, the rising adoption of surgical treatments for glaucoma, among others.
New York, USA, Sept. 29, 2022 (GLOBE NEWSWIRE) -- The Global Glaucoma Drainage Devices Market to Register Growth at a Stunning CAGR of 11.95% by 2027 | DelveInsight
The glaucoma drainage devices market is anticipated to boost owing to the rising prevalence of glaucoma diseases, the rising geriatric population susceptible to glaucoma, the rising adoption of surgical treatments for glaucoma, among others.
DelveInsight’s Glaucoma Drainage Devices Market Insights report provides the current and forecast market, forthcoming device innovation, individual leading companies’ market shares, challenges, glaucoma drainage devices market drivers, barriers, and trends, and key glaucoma drainage devices companies in the market.
Key Takeaways from the Glaucoma Drainage Devices Market Report
As per DelveInsight estimates, North America is anticipated to dominate the global glaucoma drainage devices market during the forecast period.
Notable glaucoma drainage devices companies such as Johnson & Johnson, AbbVie Inc, Alcon Inc, Glaukos Corporation, Santen Pharmaceutical Co., Ltd, NovaEye Medical Limited, iSTAR Medical SA, Rheon Medical SA, Advanced Ophthalmic Innovations Pte Ltd, New World Medical Inc, Aurolab, and several others are currently operating in the glaucoma drainage devices market.
On November 19, 2021, Istar reported the first implant of the Miniject glaucoma device after the CE Mark approval.
On September 06, 2021, Glaukos submitted the application to the United States FDA for an iStent infinitive device.
On May 17, 2021, Rheon Medical received the FDA Breakthrough Device Designation for the eyeWatch Technology.
On March 05, 2020, the FDA approved Allergan’s long-term eye implant for glaucoma.
Thus, owing to the launch of such devices, there will be a rapid growth observed in the glaucoma drainage devices market during the forecast period.
To read more about the latest highlights related to the glaucoma drainage devices, get a snapshot of the key highlights entailed in the Global Glaucoma Drainage Devices Market Report
Glaucoma Drainage Devices Overview
A glaucoma drainage implant is a small device that I place in the eye to treat glaucoma. Glaucoma drainage devices have been developed to divert aqueous humor from the anterior chamber to an external reservoir, where a fibrous capsule forms approximately 4-6 weeks after surgery and aids in flow regulation. Glaucoma drainage devices can help control intraocular pressure (IOP) in eyes where trabeculectomy has previously failed and in eyes with insufficient conjunctiva due to scarring from previous surgical procedures and injuries. Glaucoma drainage devices effectively treat complicated glaucomas, such as uveitic glaucoma, neovascular glaucoma, pediatric and developmental glaucoma, and others.
Glaucoma Drainage Devices Market Insights
The global glaucoma drainage devices market is being studied for North America, Europe, Asia-Pacific, and the Rest of the World. North America currently leads the global glaucoma drainage devices market in terms of revenue share, which is expected to continue throughout the forecast period. This dominance is due to the increasing prevalence of glaucoma, favorable reimbursement policies, rising glaucoma awareness among the population, and the presence of well-established healthcare infrastructure, as well as the presence of major players in the US who are highly susceptible to developing glaucoma disease and a well-established reimbursement scenario for glaucoma drainage devices in the region, among other factors in the region.
Furthermore, governmental and non-profit organizations throughout the North American region are introducing programs to reduce the burden of glaucoma diseases in the region, which will contribute to the growth of the regional glaucoma drainage devices market. Furthermore, the presence of key players in the region and rising product approvals provide enormous growth opportunities for the glaucoma drainage devices market.
Additionally, as the incidence of and presence of key players in the Asia-Pacific region increases, there is an increasing demand for glaucoma drainage devices in these regions, which is driving the glaucoma drainage devices market growth.
To know more about why North America is leading the market growth in the glaucoma drainage devices market, get a snapshot of the Glaucoma Drainage Devices Market Trends
Glaucoma Drainage Devices Market Dynamics
The global glaucoma drainage devices market is expected to grow significantly due to an increasing prevalence of glaucoma, an increase in demand for minimally invasive glaucoma procedures, various technological advancements in the field of glaucoma drainage devices, and an increase in the number of glaucoma surgeries. Furthermore, the increasing number of product approvals for glaucoma drainage devices is a major factor contributing to the growth of the glaucoma drainage devices market.
However, complications associated with the devices and the efficacy of glaucoma drainage devices for a limited timeframe are expected to challenge the growth of the glaucoma drainage devices market.
Additionally, the COVID-19 pandemic had a significant impact on elective and non-urgent surgeries throughout the world. The COVID-19 pandemic has had the greatest impact on the demand for glaucoma drainage devices. To stop the virus spread, limit movement and reduce regular check-ups. Due to the COVID-19 pandemic, various elective procedures were temporarily halted, in contrast to COVID-19-affected patients, who were given top priority. Furthermore, patients with glaucoma will require treatment and should be closely monitored for any recurrence of symptoms. As a result of movement restrictions and social distancing in hospitals, the market was temporarily hampered by fewer patient visits.
However, a decrease in the number of cases, an increase in vaccinations, and a reduction in lockdowns are expected to boost demand for glaucoma drainage devices.
Moreover, following COVID-19, the healthcare system is attempting to return to normalcy due to resumed patent visits, the opening of manufacturing facilities, and the leverage provided in terms of lockdown restrictions, among other things. As a result, demand for glaucoma drainage devices is expected to rise in the market during the post-pandemic scenario forecast period.
Get a sneak peek at the glaucoma drainage devices market dynamics @Glaucoma Drainage Devices Market Dynamics Analysis
Report Metrics | Details |
Coverage | Global |
Study Period | 2019–2027 |
Base Year | 2021 |
Market CAGR | 11.95% |
Market Size in 2021 | 640.5 Million |
Projected Market Size by 2027 | 1.18 Billion |
Key Glaucoma Drainage Devices Companies | Johnson & Johnson, AbbVie Inc, Alcon Inc, Glaukos Corporation, Santen Pharmaceutical Co., Ltd, NovaEye Medical Limited, iSTAR Medical SA, Rheon Medical SA, Advanced Ophthalmic Innovations Pte Ltd, New World Medical Inc, Aurolab, among others |
Glaucoma Drainage Devices Market Segmentation
Market Segmentation By Product Type: Conventional Glaucoma Drainage Devices (Valveless Glaucoma Drainage Devices and Valved Glaucoma Drainage Devices), Minimally Invasive Glaucoma Surgery (MIGS) Devices (Schlemm’s Canal MIGS Devices, Suprachoroidal MIGS Devices, and Subconjunctival MIGS Devices)
Market Segmentation By End User: Hospitals, Ambulatory Surgical Centers, and Specialty Clinics
Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
Which MedTech key players in the glaucoma drainage devices market are set to emerge as the trendsetter explore @Glaucoma Drainage Devices Companies
Table of Contents
1 | Report Introduction |
2 | Executive summary |
3 | Regulatory and Patent Analysis |
4 | Key Factors Analysis |
5 | Porter’s Five Forces Analysis |
6 | COVID-19 Impact Analysis on Glaucoma Drainage Devices Market |
7 | Glaucoma Drainage Devices Market Layout |
8 | Global Company Share Analysis – Key 3-5 Companies |
9 | Glaucoma Drainage Devices Market Company and Product Profiles |
10 | Project Approach |
11 | About DelveInsight |
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