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Glaucoma Drainage Devices Market Opportunities in Asia Pacific Attributed to Growing Elderly Population and Expanding Healthcare Infrastructure
Glaucoma Drainage Devices Market
According to the latest research by InsightAce Analytic, the global glaucoma drainage devices market is valued at 1,206.27 Million in 2023, and it is expected to reach 2,317.31 Million by the year 2031, with a CAGR of 8.8% during a forecast period of 2024-2031.
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Glaucoma comprises a group of disorders that impact the optic nerve, leading to vision impairment, commonly associated with elevated intraocular pressure (IOP). Glaucoma drainage devices are employed during filtering surgeries, including for patients with a low risk of trabeculectomy failure, to facilitate the drainage of aqueous humor from the eye, thereby safeguarding ocular health. If left untreated, glaucoma can result in irreversible blindness.
The global incidence of glaucoma has risen notably in recent years, largely driven by the expanding aging population worldwide. This demographic trend is expected to significantly propel demand for glaucoma drainage devices. Additionally, increased awareness of glaucoma treatments and their benefits, coupled with greater availability of surgical devices, is anticipated to create new growth opportunities for manufacturers in this sector. The market is further supported by heightened focus on eye care and preventive interventions.
Manufacturers are committed to reducing the risks and adverse effects associated with glaucoma drainage device usage. Nonetheless, limited awareness regarding the benefits of glaucoma surgeries remains a challenge that could constrain market growth. To fully realize the market's potential, industry players are expected to address these barriers through targeted education and innovation.
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Regionally, North America is projected to be the leading market for glaucoma drainage devices during the forecast period, driven by a growing elderly population and rising incidences of diabetes and lifestyle-related conditions. Increased stress levels and the prevalence of hypertension in this region are also anticipated to contribute to heightened demand. Meanwhile, the Asia Pacific region is poised for significant market expansion, supported by similar demographic trends and an increasing emphasis on healthcare awareness. Companies operating in this region are likely to benefit from rising demand and growing acceptance of glaucoma treatment procedures.
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, 2022-2030 (Value US$ Mn)
• Valved Implants
• Nonvalved Implants
Global Glaucoma Drainage Devices Market, by End-Users, 2022-2030 (Value US$ Mn)
• Hospitals
• Ophthalmic Clinics
• Other End-Users
Global Glaucoma Drainage Devices Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Glaucoma Drainage Devices Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Glaucoma Drainage Devices Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Glaucoma Drainage Devices Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Glaucoma Drainage Devices Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Glaucoma Drainage Devices Market, by Country, 2022-2030 (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
Read Overview Report- https://www.insightaceanalytic.com/report/global-glaucoma-drainage-devices-market/1254
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Contact us:
InsightAce Analytic Pvt. Ltd.
Visit: www.insightaceanalytic.com
Tel : +1 551 226 6109
Asia: +91 79 72967118
info@insightaceanalytic.com
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