What are Glaucoma Drainage Devices?
What are Glaucoma
Drainage Devices?
Glaucoma drainage devices have been designed to divert the
aqueous humor from the anterior chamber to the external reservoir. A fibrous
capsule is formed in about 4–6 weeks after the surgery and regulates the flow.
The devices are extensively used in complicated glaucoma, comprising uveitic
glaucoma, neovascular glaucoma, and pediatric and developmental glaucoma.
What is the Global Glaucoma Drainage Devices Market?
The global glaucoma drainage devices market size was valued at
USD 640.57 million in 2021, growing at a CAGR of 11.95% during the forecast
period from 2022 to 2027, to reach USD 1,184.39 million by 2027. The increase
in demand for glaucoma drainage devices is primarily due to the rising
prevalence of glaucoma across the globe, increasing lifestyle disorders such as
diabetes & hypertension, the growing burden of the old age population, and
technical innovation in product development are expected to boost the market
for glaucoma drainage devices.
What are the drivers
for the Global Glaucoma Drainage Devices?
The major factors driving the demand for glaucoma drainage
devices are the rising prevalence of glaucoma across the globe, increasing
lifestyle disorders such as diabetes & hypertension, the growing burden of
the old age population, and technical innovation in product development.
COVID-19 Impact on the
Glaucoma Drainage Devices Market
Additionally, there was a significant reduction in the
glaucoma surgical volume procedures and company revenue segments across the
globe during the COVID-19 pandemic, which restricted the glaucoma-drainage
device market growth for a brief period. However, due to the launch of several
products such as the iStent inject W by Glaukos Corporation, a next-generation
glaucoma drainage device, in the second half of 2020, the glaucoma drainage
devices market potentially redeem itself across the globe in the post-pandemic
scenario. Also, the easing of lockdown restrictions and resumed elective
surgeries along with more clear precautionary approaches and guidelines lead to
the renewed market growth of glaucoma drainage devices. Moreover, owing to the
approval and administration of numerous COVID-19 vaccines across the globe in
the second half of 2020, there was a significant improvement in the resumption
of activities across various domains, including healthcare services, thereby
paving the way for a sound period of recovery for the glaucoma drainage devices
market.
Get to know more information about the market report @ Glaucoma Drainage Devices Market Forecast
Recent Developmental Activities in the Glaucoma Drainage
Devices Market:
·
In October 2022, Alcon, the world leader in eye
care committed to enabling people to see brilliantly, announced the completion
of its previously announced acquisition of Ivantis®, maker of the
ground-breaking Hydrus® Microstent, a minimally invasive glaucoma surgery
(MIGS) tool intended to reduce eye pressure for open-angle glaucoma patients in
conjunction with cataract surgery.
·
In November 2021, iSTAR Medical a MedTech
company committed to delivering breakthrough eye care solutions through
minimally-invasive implants designed for bio-integration, received European
market approval for glaucoma implant MINIject designed to significantly reduce
IOP by enhancing aqueous humor outflow from the anterior chamber to the
suprachoroidal space.
·
In May 2021, Santen Canada Inc., a subsidiary of
Santen Pharmaceutical Co., a global company focused on developing ophthalmology
products, received Health Canada approval for PRESERFLOTM MicroShunt. This
surgical device helps drain eye fluid and reduce intraocular pressure (IOP) in
patients with POAG.
What are the Global Glaucoma Drainage Devices Market Companies?
Some of the key market players operating in the glaucoma
drainage devices market include Johnson & Johnson, AbbVie Inc, Alcon Inc,
Glaukos Corporation, Santen Pharmaceutical Co., Ltd, NovaEye Medical Limited,
iSTAR Medical SA, Rheon Medical SA, Advanced Ophthalmic Innovations Pte Ltd,
New World Medical Inc, Aurolab, and others.
Which region has the
highest Glaucoma Drainage Devices Market Share?
Among all the regions, North America is expected to occupy a
major share in the overall glaucoma drainage devices market during the
forecasted years 2022-2027. This domination can be primarily attributed to the
rising cases of lifestyle-related disorders such as diabetes and the rising
geriatric population.
What is the Glaucoma
Drainage Device Market Segmentation?
Glaucoma Drainage Devices Market By Product Type
(Conventional Glaucoma Drainage Devices [Valveless Glaucoma Drainage Devices
And Valved Glaucoma Drainage Devices], Minimally Invasive Glaucoma Surgery
(Migs) Devices [Schlemm’s Canal Migs Devices, Suprachoroidal Migs Devices, And
Subconjunctival Migs Devices]), By End-User (Hospitals, Ambulatory Surgical
Centers, And Specialty Clinics), by geography, is anticipated to grow at a
significant CAGR forecast till 2027 due to rising prevalence of glaucoma and
increasing prevalence of diabetes & hypertension.
What is the Glaucoma
Drainage Devices Market Dynamics?
The key factor responsible for the increasing demand for
glaucoma drainage devices is the rising prevalence of glaucoma conditions
worldwide. For instance, as per the data provided by the Delhi Ophthalmological
Society in 2021, glaucoma is the leading cause of irreversible blindness across
the world. As per the same source, in 2020, the global burden of glaucoma was
estimated to be 79.6 million. Also, according to the aforementioned source,
India is expected to be the second-largest home of glaucoma patients, and the
estimated prevalence of glaucoma cases in India was estimated to be 11.9
million in 2020. Therefore, the increasing prevalence of glaucoma could boost
the glaucoma devices market during the forecast period (2022-2027). Further,
another key factor that is responsible for the growth of the glaucoma drainage
devices market could be the increasing prevalence of diabetes & hypertension.
For instance, as per the World Health Organization data published in the year
2021, in 2020, about 422 million people worldwide had diabetes, and about 1.5
million people suffer from diabetes every year. Thus, diabetes doubles the
chances of having glaucoma, which can lead to vision loss and blindness if not
treated early, which can increase the glaucoma devices market demand during the
forecast period (2022-2027).
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