According to a new report published by Allied Market Research, titled, Indian Glaucoma and Cataract Surgery Devices Market by Product, Surgery Type, End User, and Zone: Opportunity Analysis and Industry Forecast, 20172023,” the Indian glaucoma and cataract surgery devices market accounted for $164 million in 2016, and is expected to reach $321 million by 2023, registering a CAGR of 10.1% from 2017 to 2023. West zone is the highest contributor in the Indian glaucoma and cataract surgery devices market in 2016; however, north zone is expected to witness the highest growth rate during the forecast period.
Glaucoma is caused by the damage to the optic nerve, and if not treated accurately can eventually lead to loss of vision. It is commonly prevalent in the geriatric population. The most commonly occurring type of glaucoma is the open-angle glaucoma. Apart from the conventional approaches such as laser surgeries, development of novel drainage devices and stents propel the market growth. Cataract is an eye-related disease in which clouding of the eye lens is observed that leads to impaired vision. Cataract surgery is the removal of clouded natural lens, and involves implantation of intraocular lens.
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Increase in incidence of glaucoma and growth in geriatric population drives the market growth. Furthermore, increase in prevalence of cataract disease as well as technological advancements in ophthalmic devices are projected to supplement the market growth. However, dearth of skilled professionals and risk of post-operative complications associated with glaucoma surgeries hamper this growth. Moreover, surge in investment by manufacturers in the emerging economies and rise in initiatives to reduce the burden of glaucoma offer profitable opportunities for market expansion.
Among the types of surgery for glaucoma, conventional glaucoma surgery is dominant segment owing to the fewer complications caused by the use of these devices, making them the first choice of the surgeons for the treatment of certain types of glaucoma.
By end user, the hospital segment generated the highest revenue in 2016, and is set to continue its dominance throughout the forecast period. However, outpatient surgical center segment is expected to witness a high growth rate on account of the increase in the number of glaucoma laser surgeries being carried out in outpatient surgical facilities and large-scale utilization of glaucoma drainage devices such as tube shunts in these facilities.
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Key Findings of the Indian Glaucoma And Cataract Surgery Devices Market:
- Minimally invasive glaucoma surgery is projected to grow at the highest rate during the analysis period.
- West zone dominated Indian glaucoma and cataract surgery devices market in 2016, and is projected to continue its dominance in future.
- Phacoemulsification systems is expected to grow at the fastest pace during the forecast period.
- Glaucoma drainage devices is the largest contributor among the product segments in 2016.
- Intraocular lens generated the highest revenue, and is expected to continue its dominance in future.
The key players operating in the Indian glaucoma and cataract surgery devices market include Alcon, Inc. (Novartis AG), New World Medical, Inc., Johnson & Johnson, Bausch & Lomb, Inc. (Valeant Pharmaceuticals International, Inc.), Topcon Corporation, Lumenis Ltd., Allergan plc., Carl Zeiss Meditec AG, Essilor International S.A., HAAG-Streit Holding AG, Nidek Co., Ltd., Ziemer Ophthalmic Systems AG, and Ellex Medical Lasers Ltd. Other prominent players in the value chain include Santen Pharmaceutical Co., Ltd., Abbott Laboratories, Inc., Zabbys, STAAR Surgical Company, Hoya Corporation, and Aurolab.
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