(PharmaNewsWire.Com, June 04, 2018 ) Glaucoma disease causes due to increase in intraocular pressure within the eye that damages the optic nerve and leads to loss of vision and even blindness. Glaucoma is second leading cause of irreversible blindness in the world. The most common types of glaucoma are open angle glaucoma and closed angle glaucoma. The common symptoms associated with glaucoma include eye pain, blurred vision, red eyes, light appears to extra halo-like glow around it, and vision problems with poor lighting. Glaucoma can be diagnosed by determining the intraocular pressure, the status of optic nerve and drainage angle, and visual fields. Glaucoma can be treated by using eye drops, laser treatments, and surgery.
The global glaucoma surgery market is expected to grow at a significant CAGR due to increase in the geriatric population as they are more prone to eye diseases. Rise in prevalence of glaucoma, new developments in minimally invasive glaucoma surgical devices, and increase in prevalence of diabetes and diabetic retinopathy expected to fuel the global glaucoma surgery market over the forecast period. Furthermore, changing lifestyle, unhealthy food, increase in incidence of ocular disorders, improved medical coverage, and increase in healthcare expenditure expected to bolster the global glaucoma surgery market. However, lack of awareness among key stakeholders about eye disorders, dearth of skilled professionals for glaucoma surgeries, stringent regulatory policies, and high cost of glaucoma surgery might hamper the growth of global glaucoma surgery market over the forecast period.
Market players are adopting different strategies to increase their market share in the glaucoma surgery market. Acquisitions & mergers, collaborations, technological developments such as inserting implants by minimally invasive surgical procedures, and organizing training programs for physicians regarding glaucoma surgeries expected to bolster the global glaucoma surgery market. For instance, in September 2016, Johnson & Johnson acquired Abbott Medical Optics business segments that include laser refractive surgery, cataract surgery, and consumer eye health. In December 2016, Ellex Medical Lasers conducted clinical training for physicians about operation of Ellex iTrack minimally invasive glaucoma surgery device in China. Moreover, approval of new products from various administrative bodies also propel the glaucoma surgery market growth. For instance, in March 2016, Glaukos Corporation announced that the company’s trabecular micro-bypass stent named iStent was approved in Japan by Japanese Ministry of Health, Labor and Welfare (MHLW). In August 2016, Alcon received FDA approval for the CyPass a micro-invasive surgical device to treat open-angle glaucoma. In the near future, pipeline products that can treat glaucoma are expected to create significant opportunities for the device manufacturers.
Geographically, the global glaucoma surgery market segmented into the following regions Viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America accounts for the largest share followed by Europe and Asia-Pacific. North America holds dominant share in glaucoma surgery market which is mainly attributed to the availability of skilled professionals, increase in the incidence of glaucoma patients (according to Glaucoma Research Foundation survey, approximately one out of 10,000 babies born with glaucoma in United States), and increase in healthcare expenditure. Europe market is growing at significant CAGR owing to increase in the prevalence of glaucoma disease. In Europe, Italy has the highest prevalence for glaucoma disease that is approximately 182 prevalent cases per 100,000 population. Austria, Spain, and Germany also play a key role in Europe glaucoma surgery market due to the increase in prevalence cases. Asia-Pacific holds a key share due to increase in the geriatric population, rise in the prevalence of glaucoma disease patients majorly in India, China, and Japan.
Some of the players in glaucoma surgery market are Glaukos Corporation (U.S.), Ellex Medical Lasers (Australia), DOSE Medical Corporation (U.S.), Johnson & Johnson Services Inc., (U.S.), Abbott Laboratories (U.S.), and Alcon (Novartis) (U.S.) to name a few.
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