Market Overview:
Glaucoma is an eye disorder that causes damage to the optic nerve if left untreated, leading to the permanent loss of vision. As per the report that has been published by Market research Future (MRFR), the global glaucoma surgery market is registered to expand at a noteworthy CAGR of 7.9% during the forecast period of 2017-2023.
Market Drivers and Restraints:
Glaucoma is considered to be one of the leading causes of preventable blindness. With the rise in geriatric population, the incidences of glaucoma are increasing resulting in the high demand for surgical treatments, which in turn is fueling the growth of the global glaucoma surgery market.
Increasing inclination towards permanent and faster cure through surgery over long-term use of medication is one of the major drivers of the global glaucoma surgery market. In addition, rise in prevalence of causative disorders such as diabetes and ocular hypertension are inducing need for surgical treatments, leading to the expansion of the global glaucoma surgery market.
However, lack of awareness, preference of non-invasive treatments and high cost associated with the treatment are likely to create hindrance in the growth of the global micro invasive glaucoma surgery market during the forecast period.
Regional Analysis:
The global glaucoma surgery market is geographically segmented into four major regions such as North America, Asia Pacific, Europe and the Middle East and Africa. The North America region is leading the global glaucoma surgery market with respect to market size. The high number of population suffering from diabetes and other eye disorder and increasing healthcare expenditure are some of the major factors that are fueling the growth of the glaucoma surgery market in this region. The Europe region is registered to be the second largest market for glaucoma surgery owing to the increased research and development for introduction of advanced surgical devices in this region. The Asia Pacific region is projecting significant growth in the global glaucoma surgery market owing to the large population base and increasing prevalence of glaucoma in this region.
Key Players:
The leading players profiled by MRFR in the report on the global glaucoma surgery market are Novartis AG (Switzerland), Allergan (the U.S.), Merck & Co., Inc. (the U.S.), Abbott (the U.S.), Akorn, Inc. (the U.S.), Teva Pharmaceuticals (the U.S.), Bausch & Lomb (the U.S.), Pfizer, Santen (Japan), Carl Zeiss Meditec (Germany), Alcon (the U.S.), Ellex Medical Lasers (Australia), Lumenis (the U.S.), Topcon Medical Systems (the U.S.), Nidek (the U.S.), OPHTEC (the U.S.), Optos (the U.S.), Accutome (the U.S.), AqueSys (Taiwan), Canon (Japan), Essilor (France) and Iridex Corporation (the U.S.)
Market Segmentation:
The global glaucoma surgery market has been segmented on the basis of target, surgery and end-user. Based on target, the glaucoma surgery market is segmented into trabecular meshwork, suprachoroidal space and others. Based on surgery, the glaucoma surgery market is segmented into angle closure glaucoma surgery, aqueous shunt surgery, laser surgery and others. Based on end users, the glaucoma surgery market is segmented into hospital, ambulatory surgery centers and others.
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