The Glaucoma Drainage Devices Market Size is valued at 1,206.27 Million in 2023 and is predicted to reach 2,317.31 Million by the year 2031 at an 8.8 % CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The primary drivers fueling the need for glaucoma drainage devices are the escalating prevalence of glaucoma as well as the growing incidence of lifestyle conditions such as diabetes and hypertension.
- The increasing prevalence of the elderly population, coupled with advancements in technology for product development, is propelling the growth of the Glaucoma Drainage Devices Market.
- North America dominated the market and accounted for a global revenue share in 2023.
- Regulatory hurdles delay the glaucoma drainage device market, affecting approval, market entry, and compliance with evolving regulations, potentially impeding growth and development.
Glaucoma drainage devices are used to drain and divert humor that is caused in the glaucoma condition which could lead to serious damage to the eye if not treated properly. Ill-treated glaucoma could also lead to blindness. The increasing prevalence of lifestyle disorders and the rising geriatric population are the prime factors driving the glaucoma drainage devices market potential over the forecast period. Increasing incidence of diabetes is also expected to further increase glaucoma and this will eventually favor the glaucoma drainage devices market potential over the coming years.
Technological innovations in glaucoma treatment and rising healthcare spending potential across the world are also expected to boost glaucoma drainage devices’ market growth across the forecast period. Hypertension is also responsible for the increasing incidence of glaucoma and could further propel the demand for glaucoma drainage devices through 2031.
The emergence of the COVID-19 pandemic in 2020 led to a downward trend in the global glaucoma drainage devices market owing to a heightened focus on coronavirus infections to control the pandemic situation. The glaucoma drainage devices market is anticipated to rise at a steady pace over the forecast period as the restrictions are lifted and the world returns to normal. However, complications related to glaucoma procedures are expected to have a hampering effect on the global glaucoma drainage devices demand through 2031.
Competitive Landscape
Some Major Key Players In The Glaucoma Drainage Devices Market:
- Alcon,
- Henan Universe IOL R&M Co., Ltd.,
- Alievio Inc,
- Avisi Technologies LLC,
- Geuder AG,
- InnFocus Inc,
- iVeena Delivery Systems Inc,
- Merz Anteis SA,
- MicroOptx, Inc.,
- OPKO Health Inc,
- Nova Eye Medical,
- New World Medical, Inc.,
- Santen SA,
- Ivantis, Inc.,
- Advanced Ophthalmic Innovations Pte Ltd,
- iSTAR Medical,
- Rheon Medical SA,
Market Segmentation:
The glaucoma drainage devices market is segmented on the basis of product and end-users. Based on the product, the market is segmented as valved implants and non-valved implants. By end-users, the market is segmented into hospitals, ophthalmic clinics, and other end-users.
Based On Product, The Valved Implants Segment To See High Demand
Valved implants are anticipated to see high demand over the forecast period and are anticipated to witness growth faster than the non-valved implants segment. Increasing preference for valved implants and rising recommendations for the same from healthcare professionals are expected to drive the growth of the segment over the forecast period.
Opthalmic Clinics To See High Demand
The hospitals segment is anticipated to account for a major market share over the forecast period owing to a rising number of glaucoma surgeries being performed. The presence of key glaucoma treatments and the availability of novel technologies are factors that could drive demand for glaucoma drainage devices in hospitals.
In The Region, The North America Glaucoma Drainage Devices Market Drives Global Growth.
The North America glaucoma drainage devices market is anticipated to emerge as the most lucrative one in the global glaucoma drainage devices industry landscape owing to the rising prevalence of glaucoma in the growing geriatric population. The increasing prevalence of diabetes is also a factor that propels glaucoma drainage devices demand in this region. Favorable reimbursement policies, developed healthcare infrastructure, high spending potential, and the presence of key healthcare providers are other factors that positively influence the glaucoma drainage devices market growth through 2031. The United States and Canada are projected to emerge as the most lucrative markets in the North America region over the years to come.
Glaucoma Drainage Devices Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 1,206.27 Million |
|
Revenue Forecast In 2031 |
USD 2,317.31 Million |
|
Growth Rate CAGR |
CAGR of 8.8 % from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Product, By End-User |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Alcon, Henan Universe IOL R&M Co., Ltd., Alievio Inc, Avisi Technologies LLC, Geuder AG, InnFocus Inc, iVeena Delivery Systems Inc, Merz Anteis SA, MicroOptx, Inc., OPKO Health Inc, Nova Eye Medical, New World Medical, Inc., Santen SA, Ivantis, Inc., Advanced Ophthalmic Innovations Pte Ltd, iSTAR Medical, Rheon Medical SA, and other players. |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Corporate
Office :
Office No.5170, 5th Floor Marvel Fuego, Magarpatta Rd, Pune, 411028
info@insightaceanalytic.com
