The glaucoma surgical device market is expected to grow at a rate of nearly 23 percent over the next 5 years, according to a Market Scope report. The market is expected to grow to nearly $1.7 billion by 2023, up from a small base of just under $634 million in 2018.
Minimally invasive glaucoma surgery (MIGS) drainage implants are safe and increasingly effective for all stages of glaucoma, and they will significantly expand the role of surgery over the next 5 years, but product improvements are also expected in diagnostic devices, pharmaceuticals, lasers, and other surgical devices.
Venture capital firms have invested more than $500 million in MIGS implants in the United States.
Market Scope expects the number and variety of available MIGS stents to grow over the next several years.
Several devices are used to screen for glaucoma and monitor progression of the disease. However, once the disease is diagnosed, medications rather than surgery are the first line of treatment. Only 2.3 percent of diagnosed glaucoma patients globally were treated surgically in 2017.
By comparison, 40 to 60 percent of glaucoma patients who receive conventional trabeculectomy surgery experience complications, and many require additional surgery. As a result, surgical approaches until recently have been used only as a last resort once the disease has progressed to an end stage.
Market Scope’s newly published 2018 Glaucoma Surgical Device Report puts significant focus on MIGS implants because of their enormous potential, but it addresses other segments of the market, as well, including selective laser trabeculoplasty and cyclophotocoagulation lasers, conventional glaucoma devices, such as tube shunts, canal surgery products, and a category Market Scope calls “trab plus.”
Market Scope also covers the market for surgical instruments and a variety of single-use surgical devices used to treat glaucoma patients.