Gel Stent Market Expected to Expand at a Steady CAGR through 2027
Gel Stent Market: Drivers & Restraints
The population above the age of 40 is more prone to the disease of eyes and malfunctioning of various eye structures. Thus the rise in geriatric population is one of the major driver that can influence the growth of the gel stent market. Glaucoma is one of the leading cause for blindness. It is estimated that about 3.54 percent of population worldwide has glaucoma. Rise in prevalence and incidence of glaucoma, rise in healthcare expenditure, minimal invasive procedure as compared to other surgeries, technologically advanced procedure are the factors that can propel the growth of the global gel stent market.
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Some factors that can pull back the global gel stent market are rise in the cost of the procedure, less availability of super specialized professionals. The lack of experience and knowledge about the efficacy, technique and the complication of the gel stent are the major factors that can restrain the growth of the market during the forecast period.
Gel Stent Market: Segmentation
The global gel stent market is classified on the basis of clinical trials, end user, and geographical region
Based on clinical trials, the global gel stent market is segmented into the following:
Clinical Phase I
Clinical Phase I/II
Clinical Phase II
Clinical Phase III
Based on End-User, the global gel stent market is segmented into the following:
Eye Research Institutes
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Based on geography, the global gel stent market is segmented into following:
Asia Pacific excluding Japan
Middle East and Africa
Gel Stent Market: Overview
The global gel stent market is expected to expand at a significant growth rate across regions. The players operating in this segment are working on their research and development process to build advanced products and increase their product portfolio. The prevalence of glaucoma and other eye injuries are on the rise across North American countries due to a large number of elderly population. Furthermore, there is rise in the cases of congenital glaucoma due to change in lifestyle and habits which can propel the growth of the market.
Gel Stent Market: Region-wise Outlook
A geographic condition regarding the global gel stent market, it has been segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding Japan, Japan and the Middle East & Africa.
North America is expected to register the highest growth in the global stent market in terms of value which is then followed by Europe. The factors responsible for the growth of the market are technologically developed economy, rise in awareness among people about the latest technologies and treatment, highest number of case in glaucoma etc. Asia Pacific market is the expected to anticipate the highest growth rate due to rising interest in novel technology, prevalence of glaucoma, developing economy etc.
Gel Stent Market: Key Players
Some of the key players operating in the global market are ALLERGAN, AqueSys, Inc. ALLERGAN received FDA clearance for XEN Gel stent in the year 2016 for treatment of refractory glaucoma. XEN has provided a new treatment for millions of people in America.
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