Press release
Glaucoma Drainage Devices Market Strengthened by Breakthrough Approvals and Innovations in Adjustable Glaucoma Shunts
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 encompasses a group of ocular disorders that adversely affect the optic nerve, often resulting in progressive vision loss and frequently associated with elevated intraocular pressure (IOP). Glaucoma drainage devices are utilized during filtration surgeries, including in patients with a low risk of trabeculectomy failure, to promote the outflow of aqueous humor and help preserve visual function. If not properly managed, glaucoma can lead to irreversible blindness.
The global prevalence of glaucoma has increased significantly in recent years, primarily due to the growing aging population. This demographic shift is expected to drive sustained demand for glaucoma drainage devices. Furthermore, rising awareness regarding the availability and benefits of glaucoma treatments, along with broader access to advanced surgical tools, is projected to create favorable growth prospects for device manufacturers. The market is also benefiting from a heightened emphasis on eye health and preventive care measures.
Leading manufacturers are actively focused on minimizing the risks and complications associated with the use of glaucoma drainage devices through continued innovation and improved product design. However, a lack of sufficient awareness about the advantages of surgical intervention for glaucoma remains a key challenge that may hinder broader market adoption. To unlock the market's full potential, stakeholders are encouraged to invest in education initiatives and further technological advancements aimed at enhancing treatment efficacy and patient outcomes.
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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 : +1 607 400-7072
Asia: +91 79 72967118
info@insightaceanalytic.com
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