Eye Stent Market: Introduction
- Eye stents are tiny tubes generally made of plastic, fiber, or metal that are inserted in the eye to keep the internal eye pressure at normal levels by relieving any obstruction in the flow path of fluids
- Eye stents are used in the treatment of glaucoma and NLD (nasolacrimal duct) obstructions in children
- Approximately 2% of the world’s population suffers from glaucoma. It ranges from 2.2% in individuals aged between 40 years and 49 years to 9.5% in people aged above 70 years in developed countries such as the U.S. and Europe.
- Glaucoma usually develops after the age of 60 years; however, it is detected after the age of 40 years in African Americans. The growing number of geriatric population is likely to increase the number of glaucoma patients, thus generating growth opportunities for the eye stent manufacturers.
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Key Drivers and Restraints of Global Eye Stent Market
- Governments around the world are organizing free health check-up camps for various eye diseases to prevent prevalence and progression of glaucoma
- Additionally, improvements in socio-economic condition of developing countries has increased the spending capacity of individuals. Hence, the number of untreated cases has decreased. In the U.K., patients are tested for glaucoma after 40 years of age, if symptoms such as blurred vision occur, and the initial treatment is dispensed from the hospital without any cost. Moreover, there are various treatments available for glaucoma.
- Lifestyle changes have led to an increase in the diabetic population, which has resulted in increased cases of neovascular glaucoma. This is anticipated to drive the global eye stent market in the near future.
- Lack of awareness about progressive eye disorders such as glaucoma, adverse effects associated with the use of eye stents, recent product recalls, and alternative therapies are expected to hamper the growth of the eye stent market during the forecast period
Glaucoma Indication Segment to Lead the Global Eye Stent Market
- In terms of indication, the global eye stent market can be divided into glaucoma and NLD (nasolacrimal duct) obstructions
- Rise in global geriatric and diabetic population is anticipated to offer lucrative opportunities for the eye stent market
- Changing lifestyle and rapid digitization have significantly elevated the use of computers and other screens. Computers and mobile phone screens emit UV radiation and continuous exposure to this increases strain on the eyes, which leads to glaucoma.
Ophthalmic Clinics to Offer High Growth Opportunities
- On the basis of end-user, the global eye stent market can be divided into hospitals, ophthalmic clinics, and ambulatory surgical centers
- The hospitals segment is expected to witness high demand for eye stents during the forecast period. The growth of this segment can be ascribed to the rise in incidences of glaucoma, ability of hospitals to provide optimum health care services to patients, and increase in the number of patients opting for treatment at hospitals supported by reimbursement programs, such as Medicare.
- Globally, hospitals are the primary body for health care services. In countries, such as the U.S., Canada, the U.K., etc., hospitals provide health care services to all citizens at affordable costs.
- Glaucoma cases are expected to rise during the forecast period due to increased incidences of neovascular glaucoma. Hospitals are key centers for diagnosis and treatment of glaucoma in developed as well as emerging regions.
- The ophthalmic clinics segment is expected to grow steadily during the forecast period, as individuals generally prefer these clinics for follow-up cases, especially in regions such as Asia Pacific
- Preference for specialty clinics for accurate and speedy treatment is projected to propel the growth of the ophthalmic clinics segment during the forecast period
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North America to Lead Global Eye Stent Market
- In terms of region, the global eye stent market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is expected to gain market share, owing to the rise in the prevalence of glaucoma and surge in awareness among people. Rise in disposable income is also likely to contribute to the growth of the eye stent market in Asia Pacific.
- Major pharmaceutical and biopharmaceutical companies and research setups, including start-ups are based in North America. Additionally, key players in the market, such as the Glaukos Corporation have their headquarters in the U.S. from where they generate maximum sales. Hence, the U.S. is one of the leading countries for eye stents. The U.S. Government provides health care services to all citizens at affordable prices. This enables a higher number of people to avail of these services.
Key Manufacturers Operating in Global Market
Key manufacturers operating in the global eye stent market are:
- Glaukos Corporation
- Ivantis, Inc.
- Allergan plc
- Santen Pharmaceutical Co., Ltd.
Global Eye Stent Market: Research Scope
Global Eye Stent Market, by Indication
- NLD (Nasolacrimal Duct) Obstructions
Global Eye Stent Market, by End-user
- Ophthalmic Clinics
- Ambulatory Surgical Centers
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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