Micro-bypass Systems Market to Flourish with an Impressive Cagr During 2018-2028
Micro-bypass Systems Market: Insights
Micro-bypass systems are specially designed and made up of metal and polymers of plastic for targeted use as implants in the eye. Micro-bypass systems are very small, usually bellow 1 mm in size. These micro bypass systems are specially designed so that they can be inserted into trabecular drainage meshworks, and into the frontal lobe of the eye. The main goal of micro bypass systems is facilitating the drainage of the aqueous drain, resulting in decreased eye pressure. Micro-bypass systems are mainly used in glaucoma treatment. Glaucoma is a major eye disease that does irreversible damage to the optic nerves. The major factor in glaucoma condition is increased intraocular pressure (IOP). The counter measure is to reduce pressure to a safe level, which is primarily achieved by micro-bypass systems. Micro bypass systems are more efficient than laser trabeculoplasty or medication. The major aim in using a micro-bypass system is the advantage that it provides in minimally invasive procedures, where the system can be implanted with very minimal tissue disruption.
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Micro-bypass Systems Market: Drivers and Restraints
Increased healthcare spending coupled with the growing population with glaucoma, and patients undergoing cataract surgery are anticipated to be the major driving factors for the micro-bypass systems market over the forecast period. The growing number of people suffering from glaucoma is indirectly anticipated to propel the demand for the micro-bypass market. Besides, increasing number of people to opt out rom glasses use is also anticipated to drive the market for micro-bypass system. Increasing clinical trials in the United States using micro-bypass system implants in treating various eye defects, and recently food and drug administration (FDA) for approved one of kind micro-bypass systems implant for the U.S. market is anticipated to be the major driving factor for the micro-bypass systems market over the forecast period. However, the high costs associated with micro-bypass system implant procedures and limited choice of products are restraining the growth of the global micro-bypass systems market.
Micro-bypass Systems Market: Overview.
The global micro-bypass systems market is anticipated to experience steady growth, as the market is still in the initiation phase. Due to increasing demand for micro-bypass system implants in the North American region, manufacturers are mainly focused on clinical trials and the development of new iris implants to take advantage of the current market scenario. Growing incidences of aniridia and other iris defects in the general population are increasing majorly in elderly patients. Hence, with the growing global population, predominantly the geriatric population who are more susceptible to suffer from eye disorders, the market for micro-bypass systems will probably increase at a steady speed. The recent approval by the FDA for micro-bypass systems in the U.S. market for iStent® by Glaukos is foreseen as the of the new market opportunities in the region. Subsequently, it is anticipated to fuel competition in the micro-bypass systems market.
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Micro-bypass Systems Market: Regional Outlook
Geographically, the global micro-bypass systems market is segmented into, viz. North America, Latin America, CIS & Russia, Europe, Asia Pacific excluding Japan (APEJ), Japan, and the Middle East and Africa (MEA). North America is expected to be the dominant market in the global micro-bypass systems market, owing to the number of manufacturers in the region, and rapid recovery time after micro-bypass system implantation. Increasing healthcare facilities and low cost healthcare services in the region of Asia Pacific excluding Japan are anticipated to offer lucrative growth opportunities. The micro-bypass systems market in North America is expected to grow significantly due to the increasing incidents of eye defects, especially glaucoma, in the region, coupled with the rising inclination towards minimally invasive eye surgery. North America is anticipated to hold the second-largest share in the global micro-bypass systems market throughout the forecast period.
Micro-bypass Systems Market: Key Players
The global market for micro-bypass systems is quite consolidated, and limited to very few market players Examples of some of the key players operating in the global micro-bypass systems market are Glaukos, Alcon, and others.
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