Glaucoma Surgery Market

Growing Prevalence of surgeries to boost market growth

Glaucoma surgeries have increased globally to address the backlog of surgical operations brought on by the pandemic restrictions. This has offset the market growth during the later stages of the epidemic. The market is expanding due to the increased awareness of glaucoma treatment and prevention in recent years. For instance, the newly created Dr. B. R. Ambedkar State Institute of Medical Sciences, Mohali, organized the first Glaucoma Awareness Walk in March 2022 to raise awareness of the disease's potential causes and treatment alternatives.

According to the awareness campaign, approximately 40 million individuals in India, or one out of every eight people, have glaucoma or are at risk of getting it. Of the 11.2 million Indians with the disease, 1.1 million are blind, including children. As a result, it is projected that the high prevalence of the disease will increase demand for glaucoma surgery equipment in the coming years.

Moreover, the study market's expansion is being actively impacted by the rising glaucoma prevalence, the growing geriatric population, and the expanding use of surgical therapies for glaucoma.

The World Glaucoma Association (WGA) anticipated that 79.6 million individuals would have glaucoma worldwide in 2020 in its 2022 update. By 2040, there will likely be 111.8 million individuals living with glaucoma, according to predictions. Also, it was noted that at least 50% of glaucoma sufferers are ignorant of their illness. In certain impoverished nations, 90% of glaucoma patients go undiagnosed. As a result, the rise in glaucoma is linked to the rise in glaucoma surgery, which is expected to drive the market for glaucoma surgical equipment ultimately.

Therefore, such condition related has enhanced the Glaucoma Surgery Market CAGR across the globe in the recent years.

However, increase the demand for surgery devices is another factor driving the growth of the Glaucoma Surgery Market revenue.

The demographic shift towards an aging population is a significant factor influencing the Global Glaucoma Surgery Market Industry. Older adults are at a higher risk of developing glaucoma, which correlates with the increasing prevalence of the disease. As the global population aged 60 and above continues to expand, the demand for glaucoma surgeries is expected to rise correspondingly. This trend is particularly evident in developed nations, where healthcare systems are adapting to cater to the needs of older patients. Consequently, the Global Glaucoma Surgery Market Industry is likely to experience robust growth, supported by the rising number of surgical procedures performed on this demographic.

The Global Glaucoma Surgery Market Industry is projected to experience substantial growth over the next decade. With an anticipated market size of 0.73 USD Billion in 2024, the industry is expected to expand at a compound annual growth rate (CAGR) of 6.73% from 2025 to 2035, potentially reaching 1.49 USD Billion by 2035. This growth trajectory suggests a robust demand for glaucoma surgical procedures, driven by factors such as technological advancements, increasing prevalence of the disease, and rising healthcare expenditure. The market dynamics indicate a promising future for stakeholders involved in the Global Glaucoma Surgery Market Industry.

The increasing incidence of glaucoma globally serves as a primary driver for the Global Glaucoma Surgery Market Industry. According to the World Health Organization, glaucoma affects approximately 76 million individuals worldwide, a figure projected to rise significantly in the coming years. This growing patient population necessitates advanced surgical interventions, thereby propelling market growth. The Global Glaucoma Surgery Market Industry is expected to reach 0.73 USD Billion in 2024, reflecting the urgent need for effective treatment options. As awareness about the disease escalates, more patients are likely to seek surgical solutions, further stimulating market demand.

Rising healthcare expenditure across various regions is contributing to the growth of the Global Glaucoma Surgery Market Industry. Governments and private sectors are investing more in healthcare infrastructure, which includes the provision of advanced surgical options for glaucoma patients. This increase in funding facilitates better access to surgical treatments, thereby enhancing patient outcomes. Countries with higher healthcare budgets are likely to see a surge in glaucoma surgeries, as more patients can afford these interventions. The Global Glaucoma Surgery Market Industry is expected to benefit from this trend, as the financial commitment to healthcare continues to grow.

The rise in awareness campaigns and screening programs for glaucoma is significantly impacting the Global Glaucoma Surgery Market Industry. Educational initiatives aimed at informing the public about the risks and symptoms of glaucoma are leading to earlier diagnoses and increased demand for surgical interventions. Health organizations are actively promoting regular eye examinations, which are crucial for early detection. As more individuals become aware of their eye health, the likelihood of seeking surgical treatment increases. This trend is expected to drive the Global Glaucoma Surgery Market Industry forward, as proactive measures lead to higher surgery rates.

Innovations in surgical techniques and technologies are transforming the landscape of the Global Glaucoma Surgery Market Industry. Procedures such as minimally invasive glaucoma surgery (MIGS) have gained traction due to their reduced recovery times and lower complication rates. The introduction of advanced devices and tools enhances the precision of surgeries, leading to improved patient outcomes. As these technologies become more accessible, they are likely to attract a broader patient base. The Global Glaucoma Surgery Market Industry is poised for substantial growth, with projections indicating a market size of 1.49 USD Billion by 2035, driven by these advancements.

The analysis offers market insights for North America, Europe, Asia-Pacific, and the rest of the world, organized by region. In 2022, the North American Glaucoma Surgery Market had a value of USD 0.27 billion, and throughout the research period, it is anticipated to rise at a high CAGR. Due to factors such as the increasing prevalence of glaucoma, the aging population, improved healthcare infrastructure, public awareness of accessible technologies among healthcare stakeholders, and the region's significant concentration of industry participants.

According to the World Glaucoma Association's (WGA) 2022 report, glaucoma-related blindness would rank third among medical conditions Americans fear most in 2022, after cancer and heart attacks. Consequently, it is predicted that the fear of glaucoma and its rising incidence in the nation would increase demand for glaucoma surgical operations, increasing market growth in the area.

Further, the significant countries studied in the market report are The U.S., Germany,  Canada, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Europe's Glaucoma Surgery Market accounts for the second-largest market share. There is a dynamic reimbursement paradigm in the region for glaucoma surgery, with certain nations having adequate coverage for new surgical instruments and techniques. In contrast, others are forced to provide trabeculectomy services despite more options. Further, the Germany Glaucoma Surgery Market held the largest market share, and the UK Glaucoma Surgery Market was the fastest-growing market in the European region.

The Asia-Pacific Glaucoma Surgery Market is expected to grow at the fastest CAGR. High unmet demands and rising rates of open-angle glaucoma, particularly in nations like Japan, China, and India, are anticipated to drive the market's expansion in this area. Strong demand for MIGS devices is also anticipated in the region due to the ongoing development of its healthcare infrastructure. Moreover, the China Glaucoma Surgery Market held the largest market share, and the India Glaucoma Surgery Market was the fastest-growing market in the Asia-Pacific region.

Prominent market companies are investing a lot of money in R&D to expand their product portfolios, which will spur further market growth for glaucoma surgery. With significant market developments like new product releases, contractual arrangements, acquisitions and mergers, increased investments, and partnerships with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and survive in an environment where fierce competition exists, and market demand is rising, competitors in the glaucoma surgery business must provide affordable products.

Industrial production locally to cut operating costs is one of the primary business tactics used by manufacturers in the worldwide Glaucoma Surgery Market business to benefit customers and expand the marketplace. Some of medicine's most important recent advances have come from the glaucoma surgery business. Major players in the glaucoma surgery industry, including Alcon, and others, are attempting to increase market demand by funding R&D initiatives.

With its headquarters in Geneva, Switzerland, and its incorporation in Fribourg, Switzerland, Alcon is an American Swiss medical firm specializing in eye care products. The Alcon part of the corporation was founded in Fort Worth, Texas, where Alcon was first established as a US company. In April 2021, Ivantis, Inc. sold the Hydrus Microstent for Surgical Glaucoma to Alcon. The projected acquisition expanded the company's already extensive line of treatments for glaucoma, cataracts, and retinal illnesses, demonstrating Alcon's commitment to the market.

Also, American pharmaceutical business AbbVie Inc. was established in 2013. One of the biggest pharmaceutical firms in the world, it was founded as a spin-off of Abbott Laboratories, and it frequently ranks in the top three worldwide in terms of revenue.In May 2020, AbbVie Inc. purchased Allergan plc, a company focused on developing, manufacturing, and marketing branded pharmaceutical products globally in pharmaceutical, biological, surgical, and regenerative medicine.