Global Minimally Invasive Glaucoma Surgery Devices Market is Expected to Reach $5.09 Billion by 2030: Says AMR
Increase in geriatric population along with surge in prevalence of glaucoma across the world, rise in focus of key players in the development of MIGS stents, surge in demand for combined glaucoma and cataract surgeries drive the growth of the global minimally invasive glaucoma surgery devices market. Based on region, the market across North America held the major share in 2020.
Portland, OR, Sept. 30, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Minimally Invasive Glaucoma Surgery Devices Market was estimated at $298.75 million in 2020 and is expected to hit $5.09 billion by 2030, registering a CAGR of 35.0% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Increase in geriatric population along with surge in prevalence of glaucoma across the world, rise in focus of key players in the development of MIGS stents, surge in demand for combined glaucoma and cataract surgeries drive the growth of the global minimally invasive glaucoma surgery devices market. On the other hand, reimbursement barriers regarding MIGS devices and dearth of skilled professionals impede the growth to some extent. However, rapid transition from glaucoma medications to minimally invasive glaucoma surgeries is expected to create multiple opportunities in the industry.
COVID-19 scenario-
- Although trabeculectomy remains the most commonly performed established glaucoma surgery, it is being performed with reduced frequency during the pandemic due to the decrease in number of postoperative visits and procedures required. This factor has impacted the global minimally invasive glaucoma surgery devices market negatively.
- However, the global situation is getting better at a gradual pace, and the market is expected to revive soon.
The global minimally invasive glaucoma surgery devices market is analyzed across surgery, target, product, end user, and region.
Based on target, the trabecular meshwork segment accounted for the major share in 2020, holding nearly half of the global market. The suprachoroidal space segment, however, would grow at the fastest CAGR of 37.5% throughout the forecast period.
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Based on product, the MIGS stents segment generated the highest share in 2020, accounting for nearly half of the global market. The MIGS shunts segment, on the other hand, is also projected to manifest the fastest CAGR of 37.1% from 2021 to 2030 .
Based on region, the market across North America held the major share in 2020, garnering nearly half of the global market. Simultaneously, the Asia-Pacific region would manifest the fastest CAGR of 39.0% throughout the forecast period. The other provinces discussed in the report include Europe and LAMEA.
The key market players analyzed in the global minimally invasive glaucoma surgery devices market report include AbbVie Inc., Asico LLC., iSTAR Medical SA, Ivantis Inc., Lumenis Ltd., Ziemer Ophthalmic Systems AG, Carl Zeiss Meditec AG, Novartis International AG, Glaukos Corporation, and Santen Pharmaceutical Co. Ltd. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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