Glaucoma Drainage Devices Market Size Soars: Projected 8.8% CAGR Growth by 2031

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Glaucoma Drainage Devices Market- by Product (Valved Implants and Nonvalved Implants), End-Users (Hospitals, Ophthalmic Clinics and Other End-Users), Trends, Industry Competition Analysis, Revenue and Forecast To 2031"

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According to the latest research by InsightAce Analytic, the global glaucoma drainage devices market is valued at US$ 1.08 Billion in 2021, and it is expected to reach US$ 2,317.31 Million by 2031, with a CAGR of 8.8% during a forecast period of 2024-2031.

Glaucoma is a set of illnesses that affect the optic nerve, causing vision loss and is typically characterized by elevated intraocular pressure (IOP). Glaucoma drainage devices are utilized during filtering procedures, even in patients at low risk of trabeculectomy failure. Glaucoma drainage devices are used in glaucoma procedures to drain humor from the eyes to ensure good eye safety because untreated glaucoma might result in irreversible blindness. Over the last few years, the global incidence of glaucoma has increased significantly, and this can be attributed to the world's growing senior population.

The aging population will likely fuel demand for glaucoma drainage devices in the future. The growing emphasis on healthcare and expanding knowledge of glaucoma procedures and their advantages are expected to open up new prospects for glaucoma drainage device firms worldwide. The increasing availability of glaucoma surgery devices is also projected to fuel growth in the glaucoma drainage devices market. The market for glaucoma drainage devices is anticipated to be driven by the increasing emphasis on eye care and preventative medications. Producers of glaucoma drainage devices strive to minimize their use's danger and negative effects. The lack of awareness of the advantages of glaucoma operations is predicted to hinder the global market for glaucoma drainage devices. For the glaucoma drainage device market to reach its full potential in the upcoming years, makers will likely focus on these issues and try to solve them.

North America is anticipated to be the major contributor to the glaucoma drainage devices market over the forecast years; to the region's rising senior population, diabetes and lifestyle disorders are predicted to increase demand for glaucoma drainage devices. In this region, rising stress levels and the prevalence of hypertension are projected to drive up demand for glaucoma drainage devices. In addition, the Asia Pacific glaucoma drainage devices market is expected to grow significantly during the forecast period, a significant region in the global market. The need for glaucoma drainage devices is projected to increase in the next years because of the aging population. Glaucoma drainage device companies in this region should expect new opportunities due to increasing emphasis on healthcare and an understanding of glaucoma procedures and their benefits.

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Major market players operating in the Glaucoma Drainage Devices market include
Avisi Technologies LLC, Geuder AG, InnFocus Inc, iVeena Delivery Systems Inc, Alcon, Henan Universe IOL R&M Co., Ltd., Alievio Inc, Merz Anteis SA, MicroOptx, Inc., OPKO Health Inc, and Nova Eye Medical.

Recent collaborations and agreements in the market:
• In May 2021, Rheon Medical SA received breakthrough device recognition from the US FDA for their AirWatch technology. This is the first adjustable glaucoma shunt in the world.
• In August 2019, the US FDA recognized Rheon Medical SA's eye watch technology as a breakthrough product. This is the world's first adjustable glaucoma shunt.

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Market Segments
Global Glaucoma Drainage Devices Market, by Product, 2024-2031 (Value US$ Mn)
• Valved Implants
• Nonvalved Implants

Global Glaucoma Drainage Devices Market, by End-Users, 2024-2031 (Value US$ Mn)
• Hospitals
• Ophthalmic Clinics
• Other End-Users

Global Glaucoma Drainage Devices Market, by Region, 2024-2031 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America Glaucoma Drainage Devices Market, by Country, 2024-2031 (Value US$ Mn)
• U.S.
• Canada

Europe Glaucoma Drainage Devices Market, by Country, 2024-2031 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia Pacific Glaucoma Drainage Devices Market, by Country, 2024-2031 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand

Latin America Glaucoma Drainage Devices Market, by Country, 2024-2031 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa Glaucoma Drainage Devices Market, by Country, 2024-2031 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Why should buy this report:
 To receive a comprehensive analysis of the prospects for the global glaucoma drainage devices market
 To receive an industry overview and future trends in the glaucoma drainage devices market
 To analyze the glaucoma drainage devices market drivers and challenges
 To get information on the glaucoma drainage devices market value (US$Mn) forecast to 2030
 Significant investments, mergers & acquisitions in the glaucoma drainage devices market industry

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