PUBLISHER: Grand View Research | PRODUCT CODE: 1363001
PUBLISHER: Grand View Research | PRODUCT CODE: 1363001
The global glaucoma surgery devices market is expected to reach USD 2.27 billion by 2030, registering a CAGR of 4.61% from 2023 to 2030, according to a new report by Grand View Research, Inc.. The rising global burden of glaucoma is expected to contribute to market growth over the forecast period. In addition, government support, such as favorable reimbursement policies and foreign direct investment provisions, is expected to drive market growth, especially in developing regions. Rising demand for Minimally Invasive Glaucoma Surgery (MIGS) procedures is expected to drive the demand for advanced glaucoma surgery devices over the forecast period.
The government and non-profit organizations have launched several campaigns to raise knowledge about glaucoma and the procedures used to treat it. These efforts are expected to help increase the demand for cutting-edge surgical methods. In addition, a shift in consumer preference toward sophisticated minimally invasive surgical procedures is anticipated to positively affect market expansion. Moreover, the high adoption of surgical treatment over medications for the treatment of glaucoma is expected to boost the market growth in the near future. The traditional way of glaucoma therapy involving topical medications is considered first-line treatment followed by laser surgery.
The development of new procedures, such as MIGS, creates new growth opportunities in the market.According to the National Library of Medicine (NCBI), approximately 40,000 MIGS surgical procedures were performed in patients diagnosed with glaucoma in 2018. This minimally invasive surgery can reduce hospital stays, lowering the chance of patients contracting hospital-acquired infections. Shorter hospital stays also enable patients to return to their normal lives quicker. Frequent launches of advanced devices are also expected to fuel market growth during the forecast period. For instance, in April 2023, Johnson & Johnson Vision received the U.S. FDA 510 (k) clearance for its ELITA Femtosecond laser for the development of LASIK flaps.