Glaucoma Surgery Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Glaucoma Surgery Devices Market Analysis

During the time frame of the forecast, the market for glaucoma surgery devices is expected to register a CAGR of 6.5%.

COVID-19 had a profound impact on the glaucoma surgery devices market owing to the cancellations of elective procedures, including glaucoma surgery. For instance, an article published in the International Ophthalmology Journal in April 2022 stated that the surgical volume of glaucoma dropped by 30.1% at the tertiary glaucoma center of the University Hospital of Verona, Italy, in 2020. The study also mentioned a decline in Baerveldt tube implants of 4.9%. General anesthesia was used for just 24.3% of the surgeries, as compared to 41.5% in the pre-pandemic period. However, the market has been recovering well over the last two years since the restrictions were lifted. The rise in glaucoma surgeries worldwide to clear the backlogs of surgical procedures caused by the pandemic restrictions compensated for the market growth in the later phase of the pandemic. The rising awareness about glaucoma treatment and prevention worldwide in recent times is adding to the market's growth. For instance, a Glaucoma Awareness Walk was conducted by the newly established Dr. B. R. Ambedkar State Institute of Medical Sciences, Mohali, in March 2022 for the first time to spread awareness related to the disease's prevention and treatment options. The awareness campaign reported that in India, every eighth individual, or nearly 40 million people, has either glaucoma or is at risk of developing the disease, and 11.2 million Indians suffer from the disease, with 1.1 million being blind, including children. Therefore, the high burden of the disease is anticipated to boost the utility of glaucoma surgery devices during the forecast years.

In addition, the rising prevalence of glaucoma, the increasing geriatric population, and the growing adoption of surgical treatments for glaucoma are actively affecting the growth of the studied market.

According to the 2022 update from the World Glaucoma Association (WGA), 79.6 million people worldwide were predicted to have glaucoma in 2020. It was estimated that there would be 111.8 million people with glaucoma by 2040. It also stated that at least half of glaucoma patients are unaware of their condition.90% of glaucoma cases in some developing countries go undetected. Thus, the surge in glaucoma is associated with the rise in glaucoma surgery, which is ultimately projected to boost the glaucoma surgery device market.

Also, according to the World Population Prospect 2022 report, the population aged 65 years and over in Sub-Saharan Africa is predicted to be 3.0% in 2022 and projected to reach 3.3% by 2030; in Northern Africa and Western Asia, it is predicted to be 5.5% in 2022 and projected to reach 7.0% by 2030; in Central and Southern Asia, it is estimated to be 6.4% in 2022 and projected to reach 8.1% by 2030; and in Europe and Northern America, it is estimated to be 18.7% in 2022 and projected to reach 22.0% by 2030. Since glaucoma is more common in the geriatric population, the growth of the market segment is likely to increase as the population increases.

Furthermore, glaucoma is the most common cause of irreversible blindness. Various national and international organizations are actively involved in spreading awareness regarding management and treatment options. For instance, the WGA and the World Glaucoma Patient Committee (WGPC) collaborated to commemorate World Glaucoma Week (WGW) from March 7 to March 13, 2021, in an effort to increase public awareness of glaucoma on a global level. Such global awareness initiatives are ultimately projected to boost glaucoma surgery worldwide, which in turn is estimated to propel the market's growth.

Therefore, owing to the aforementioned factors, it is anticipated that the studied market will witness growth over the analysis period. However, the availability of alternative treatment methods is likely to impede market growth.

Glaucoma Surgery Devices Market Trends

This section covers the major market trends shaping the Glaucoma Surgery Devices Market according to our research experts:

Minimal Invasive Glaucoma Surgery is Expected to Witness Growth Over The Forecast Period

Glaucoma Surgery Devices Industry Segmentation

As per the scope of the report, glaucoma is a type of eye disease that can cause vision loss and blindness by damaging an optic nerve in the eye. Glaucoma surgery devices deal with the treatment of those diseases. The Glaucoma Surgery Devices Market is classified into three regions: North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.