The market size of the global glaucoma drainage devices market in the year 2019 is valued at 1.08 billion and is predicted to reach 2.12 billion by the year 2030 at a 8.1% CAGR during the forecast period.
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Glaucoma drainage devices are used in glaucoma surgeries to drain humor from the eyes to ensure proper eye safety because improper management of glaucoma could lead to permanent blindness. The world has witnessed a significant increase in the incidence of glaucoma over the past few years. This can be contributed to the increasing geriatric population on a global level. The rising prevalence of diabetes is also expected to further bolster demand for glaucoma drainage devices in the coming years, and the growing prevalence of lifestyle disorders will also favor glaucoma drainage device sales. The increasing incidence of hypertension is also expected to bolster demand for glaucoma drainage devices over the coming years. The glaucoma drainage devices market experienced a negative growth trend during the COVID-19 pandemic and is expected to witness steady growth in the post-pandemic period as the restriction have been lifted.
However, the complications associated with glaucoma treatments and surgeries are expected to have a hindering effect on the global glaucoma drainage devices market potential throughout the forecast period.
List of Prominent Players in the Glaucoma Drainage Devices Market:
Henan Universe IOL R&M Co., Ltd.
Avisi Technologies LLC
iVeena Delivery Systems Inc
Merz Anteis SA
OPKO Health Inc
Nova Eye Medical
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The rising geriatric population is expected to majorly drive demand for glaucoma drainage devices over the coming years. Increasing focus on healthcare and rising awareness of glaucoma surgeries and their benefits are projected to provide new opportunities for glaucoma drainage device companies across the world. The rising availability of glaucoma surgery devices is also expected to drive glaucoma drainage devices market growth. Increasing focus on eye care and rising popularity of preventive medicine is also expected to drive glaucoma drainage devices market growth through 2030.
The prime for the glaucoma drainage device manufacturers is to decrease the risk and complications associated with the use of these devices. Lack of awareness of the benefits of glaucoma surgeries is also expected to have a hampering effect on the global glaucoma drainage devices market growth. Glaucoma drainage devices companies are expected to focus on these factors and try to overcome them to unlock the full potential of the glaucoma drainage devices market over the coming years.
The market for glaucoma drainage devices in North America is projected to be driven by the growing geriatric population in this region. The rising incidence of diabetes and lifestyle disorders is also expected to boost demand for glaucoma drainage devices over the coming years through 2030. Increasing stress levels and the prevalence of hypertension among individuals are also expected to boost the demand for glaucoma drainage devices in this region. The United States is projected to show growth in the North American region over the forecast period. Canada is also anticipated to be a highly lucrative market for glaucoma drainage device manufacturers through 2030.
In May 2021, Rheon Medical SA announced the reception of a breakthrough device recognition from the United States FDA for their eyeWatch technology. This is the world’s first adjustable glaucoma shunt.
Segmentation of Glaucoma Drainage Devices Market-
- Valved Implants
- Non-valved Implants
- Ophthalmic Clinics
- Other End-Users
- The US
- The UK
- Rest of Europe
- South Korea
- South East Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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