Glaucoma Surgery Devices Market

In 2020, the global glaucoma surgery devices market reached a valuation of $818.46 million, and it is anticipated to surge to $6,514.07 million by 2030, exhibiting a remarkable compound annual growth rate (CAGR) of 24.60% from 2023 to 2030. Glaucoma encompasses a group of conditions that affect the optic nerve, leading to vision loss, often associated with increased intraocular pressure (IOP). Glaucoma surgery employs specialized devices to lower eye pressure, thus preventing or mitigating damage to the optic nerve.

The COVID-19 pandemic has significantly impeded the growth of this industry, with demand for glaucoma surgery devices expected to remain subdued in the short term. Governments have imposed restrictions and prohibitions on medical procedures, particularly elective surgeries, further hampering the demand for ophthalmic equipment. Consequently, the outbreak of COVID-19 has cast a negative shadow over the glaucoma surgical device market.

The market's growth is fueled by the increasing prevalence of glaucoma and the growing global elderly population, which is more susceptible to eye diseases. Additionally, the surge in demand for minimally invasive glaucoma surgery (MIGS) procedures and advancements in glaucoma surgery device technology have further propelled market growth.

However, the market faces challenges, including reimbursement barriers related to MIGS devices and the risk of post-operative complications associated with glaucoma surgeries. A shortage of skilled professionals to perform glaucoma surgeries, coupled with a lack of awareness about eye care in low-income economies, also hampers market growth. On the flip side, initiatives and programs aimed at reducing the burden of glaucoma worldwide and the high growth potential in untapped emerging economies present opportunities for manufacturers to capitalize on.

What is the Impact of COVID-19 Pandemic on the Glaucoma Surgery Devices Market?

The global healthcare sector has been disrupted by the COVID-19 pandemic, leading to temporary closures of numerous sub-domains, including various healthcare services. In particular, the glaucoma surgery device sector has been negatively affected. Reduced patient visits to clinics due to the pandemic have resulted in fewer elective eye surgeries performed in hospitals and clinics.

The COVID-19 outbreak has significantly impacted the global economy and disrupted general hospital care for non-COVID-19 patients. As hospitals and clinics faced closures during lockdowns, demand for glaucoma surgery devices experienced a short-term decline. For instance, according to a study published in the British Journal of Surgery, based on 12 weeks of peak disruption to hospital services due to COVID-19, approximately 28.4 million elective surgeries worldwide were either canceled or postponed in 2020. Additionally, an international consortium study conducted in May 2020 reported that over 580,000 planned surgeries in India were canceled or delayed due to the pandemic. Consequently, the postponement of these non-emergency services led to reduced demand for glaucoma surgery devices.

Glaucoma Surgery Devices Market Segmentation 

The global glaucoma surgery devices market is categorized based on surgery type, product, end user, and region to provide an extensive assessment of the market. Regarding surgery type, it is divided into conventional glaucoma surgeries and minimally invasive glaucoma surgeries. In terms of products, it includes implants & stents, glaucoma drainage devices, and glaucoma laser devices. The end-user segment consists of eye hospitals & ophthalmology clinics, ambulatory surgical centers (ASCS), and outpatient surgical centers. Regionally, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Segment Review

Within the surgery type segment, conventional glaucoma surgeries held the dominant position in the global glaucoma surgery device market in 2020. This trend is expected to persist throughout the forecast period due to factors such as the increasing success rate in reducing intraocular pressure and the cost-effectiveness of conventional glaucoma surgery. Additionally, the adoption of conventional glaucoma surgery as the primary choice of treatment in underdeveloped economies due to its lower cost compared to MIGS contributes to its continued dominance.

By Surgery Type

In the product segment, implants & stents emerged as the leading category in the global glaucoma surgery devices market in 2020 and is projected to maintain this position in the coming years. This is attributed to the growing demand for implants & stents in glaucoma surgery, as they are used to reduce intraocular pressure and enhance the outflow of intraocular fluid.

By end user, the eye hospitals & ophthalmology clinic segment commanded the largest market share in 2020 and is expected to maintain its dominance throughout the forecast period. This is driven by the increased adoption of glaucoma surgical devices in eye hospitals & ophthalmology clinics, the availability of eye surgeons, and a heightened focus on and investment in eye care by these establishments.

By Product

Snapshot of the Asia-Pacific glaucoma surgery devices market 

Asia-Pacific presents lucrative opportunities for key players in the glaucoma surgery devices market, showcasing the fastest growth rate during the forecast period. This growth is attributed to improvements in healthcare infrastructure, rising disposable incomes, the strong presence of domestic companies, and the availability of glaucoma surgery devices, healthcare reforms, and technological advancements in the region's healthcare sector. Furthermore, leading manufacturers are expanding their footprint in emerging Asian-Pacific nations to capitalize on potential growth prospects in the glaucoma surgery devices market.

Key Market Players

The report profiles key market players, including AbbVie Inc. (Allergan), Alcon Inc., Glaukos Corporation, Johnson & Johnson (Abbott Medical Optics), iStar Medical SA, Lumibird Medical (Ellex Medical Lasers Ltd), Lumenis Ltd, New World Medical, Inc., Santen Pharmaceutical Co. Ltd, and Topcon Corporation.

Key Benefits for Stakeholders

• The study provides an in-depth analysis of the global glaucoma surgery devices market along with the current trends and future estimations to explain the imminent investment pockets.
• A comprehensive analysis of the factors that drive and restrict the glaucoma surgery devices market growth is provided in the report.
• Comprehensive quantitative analysis of the industry from 2023 to 2030 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
• Extensive analysis of the key segments of the industry helps to understand the application and products of glaucoma surgery devices used across the globe.

Glaucoma Surgery Devices Market Report Highlights

By Surgery Type

• Conventional Glaucoma Surgeries
• Minimally Invasive Glaucoma Surgeries

By Product

• Implants & Stents
• Glaucoma Drainage Devices
• Glaucoma Laser Devices

By End User

• Eye Hospital & Ophthalmology Clinic
• Ambulatory Surgical Centers (ASCS)
• Outpatient Surgical Centers

By Region

• North America  (U.S., Canada, Mexico)
• Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific  (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
• LAMEA  (Brazil, Turkey, Saudi Arabia, South Africa, Rest of LAMEA)