Jammu Journal

Global Glaucoma Drainage Devices Market Is Expected To Demonstrate Strong Growth In The Coming Years

 Breaking News
  • No posts were found

Global Glaucoma Drainage Devices Market Is Expected To Demonstrate Strong Growth In The Coming Years

February 12
09:55 2024
Global Glaucoma Drainage Devices Market Is Expected To Demonstrate Strong Growth In The Coming Years

The global Glaucoma Drainage Devices Market was valued at USD 640.57 million in 2021, growing at a CAGR of 11.95% during the forecast period from 2023 to 2028, to reach USD 1,184.39 million by 2028. The increase in demand for glaucoma drainage devices is primarily due to the rising prevalence of glaucoma across the globe, increasing lifestyle disorders such as diabetes & hypertension, the growing burden of the old age population, and technical innovation in product development are expected to boost the market for glaucoma drainage devices.

 

DelveInsight’s “Glaucoma Drainage Devices Market Insights and Forecast” report provides the current and forecasted Glaucoma Drainage Devices Market trends for the next five years, upcoming innovation in the devices, individual vascular closure device market shares, challenges, drivers and barriers, and key competitors in the domain.

 

Interested in knowing how the Glaucoma Drainage Devices Market will be growing by 2028? Click to get a snapshot of Glaucoma Drainage Devices Market Outlook

 

Glaucoma Drainage Devices Overview

Glaucoma drainage devices have been designed to divert the aqueous humor from the anterior chamber to the external reservoir. A fibrous capsule is formed in about 4–6 weeks after the surgery and regulates the flow. The devices are extensively used in complicated glaucoma, comprising uveitic glaucoma, neovascular glaucoma, and pediatric and developmental glaucoma.

 

Recent Developmental Activities in the Glaucoma Drainage Devices Market:

  • In October 2022, Alcon, the world leader in eye care committed to enabling people to see brilliantly, announced the completion of its previously announced acquisition of Ivantis®, maker of the ground-breaking Hydrus® Microstent, a minimally invasive glaucoma surgery (MIGS) tool intended to reduce eye pressure for open-angle glaucoma patients in conjunction with cataract surgery.
  • In November 2021, iSTAR Medical a MedTech company committed to delivering breakthrough eye care solutions through minimally-invasive implants designed for bio-integration, received European market approval for glaucoma implant MINIject designed to significantly reduce IOP by enhancing aqueous humor outflow from the anterior chamber to the suprachoroidal space.
  • In May 2021, Santen Canada Inc., a subsidiary of Santen Pharmaceutical Co., a global company focused on developing ophthalmology products, received Health Canada approval for PRESERFLOTM MicroShunt. This surgical device helps drain eye fluid and reduce intraocular pressure (IOP) in patients with POAG.

 

As per DelveInsight, owing to the ongoing commercial and clinical development, there will be rapid growth in the Glaucoma Drainage Devices Market during the forecast period.

 

Glaucoma Drainage Devices Market Dynamics:

The key factor responsible for the increasing demand for glaucoma drainage devices is the rising prevalence of glaucoma conditions worldwide. For instance, as per the data provided by the Delhi Ophthalmological Society in 2021, glaucoma is the leading cause of irreversible blindness across the world.

As per the same source, in 2020, the global burden of glaucoma was estimated to be 79.6 million. Also, according to the aforementioned source, India is expected to be the second-largest home of glaucoma patients, and the estimated prevalence of glaucoma cases in India was estimated to be 11.9 million in 2020. Therefore, the increasing prevalence of glaucoma could boost the glaucoma devices market during the forecast period (2023-2028).

 

Glaucoma Drainage Devices Companies

Some of the Glaucoma Drainage Devices companies working in the market include 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 others

 

COVID-19 Impact on Glaucoma Drainage Devices Market

Additionally, there was a significant reduction in the glaucoma surgical volume procedures and company revenue segments across the globe during the COVID-19 pandemic, which restricted the glaucoma-drainage device market growth for a brief period. However, due to the launch of several products such as the iStent inject W by Glaukos Corporation, a next-generation glaucoma drainage device, in the second half of 2020, the glaucoma drainage devices market potentially redeem itself across the globe in the post-pandemic scenario.

Also, the easing of lockdown restrictions and resumed elective surgeries along with more clear precautionary approaches and guidelines lead to the renewed market growth of glaucoma drainage devices. Moreover, owing to the approval and administration of numerous COVID-19 vaccines across the globe in the second half of 2020, there was a significant improvement in the resumption of activities across various domains, including healthcare services, thereby paving the way for a sound period of recovery for the glaucoma drainage devices market.

 

To discuss more regarding the short/long-term impact of COVID-19 get a snapshot of the report Glaucoma Drainage Devices Market Assessment

 

Scope of the Glaucoma Drainage Devices Market Research Report

  • Coverage- Global
  • 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])
  • By End-User (Hospitals, Ambulatory Surgical Centers, And Specialty Clinics)
  • 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, and others.
  • Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View

 

To get a deeper understanding of key Glaucoma Drainage Devices Companies, get a snapshot of the Glaucoma Drainage Devices Market Landscape

 

Table of Content

1. Glaucoma Drainage Devices Market Report Introduction

2. Glaucoma Drainage Devices Market Executive summary

3. Regulatory Analysis

4. Glaucoma Drainage Devices Market Key factors analysis

5. Glaucoma Drainage Devices Porter’s Five Forces Analysis

6. COVID-19 Impact Analysis on Glaucoma Drainage Devices Market

7. Glaucoma Drainage Devices Market layout

8. Glaucoma Drainage Devices Global Company Share Analysis – Key 3-5 Companies

9. Glaucoma Drainage Devices Company and Product Profiles

10. KOL Views

11. Project Approach

12. About DelveInsight

13. Disclaimer & Contact Us

 

Get in touch with our Business Consultant @ Glaucoma Drainage Devices Porter’s Five Forces Analysis

Media Contact
Company Name: DelveInsight Business Research LLP
Contact Person: Yash Bhardwaj
Email: Send Email
Phone: 9650213330
Address:304 S. Jones Blvd #2432
City: Las Vegas
State: NV
Country: United States
Website: https://www.delveinsight.com/consulting/primary-research-services