Global Gel Stent Market
Market Overview
Glaucoma is the second cause of blindness after cataract, with 3 million Americans suffering from it. The global glaucoma market estimated to be USD 5 billion in 2016. Vision impairment or blindness hit the individuals when fluids are building up in the eye resulting in pressurizing the optic nerve and relieving this strain has been a challenge for ophthalmologists. In 2016, after the approval of XEN45 gel stent which is collagen-derived gelatin tube, Dr. Cristobal Cruz-Colon was the first ophthalmologist to successfully implant the XEN GEL stent at Coral Gables Surgery Center.
Allergan receives FDA clearance for the XEN Gel Stent, a new surgical treatment for refractory glaucoma and will provide the new treatment option to bring down the intraocular pressure of the struggling patients. Over 10,500 stents were distributed worldwide in 2016.
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Although in Philippines is developing more substantive requirements for medical devices but specific devices like abutment, stents, injection port, abdominal pad, anesthesia set, alcohol swab, surgical blade, etc are subjected to mandatory registration.
Market Segmentation
• By Clinical Trials
Preclinical
Clinical phase I/II
Clinical Phase II
Clinical Phase III
Research
• By End User
Eye Clinics
Eye Research Institutes
Hospitals
• By Geography
North America US, Canada {Market Share % , Market Size USD Billion , Adoption Rate % }
Europe UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe {Market Share % , Market Size USD Billion , Adoption Rate % }
Middle East and Africa GCC Countries, North Africa, South Africa and Rest of Middle East & Africa {Market Share % , Market Size USD Billion , Adoption Rate % }
Latin America Brazil, Mexico and Rest of Latin America {Market Share % , Market Size USD Billion , Adoption Rate % }
Asia Pacific China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific {Market Share % , Market Size USD Billion , Adoption Rate % }
Rest of the World {Market Share % , Market Size USD Billion , Adoption Rate % }
Market Size Outlook 2016-2024
The global gel stent market projected to garner USD 17.25 billion by 2024. The global gel stent market tends to reach USD 0.37 billion by 2024 at a CAGR of 30% over the forecast period. Major portion of global gel stent market contributes to research 40% in clinical trials segment and eye research institutes 55% in end user segment.
In terms of value, North America and Europe is expected to dominate the global gel stents market by acquiring more than 50% market share, owing to the increasing glaucoma cases with increasing geriatric population. APAC gel stents market is expected to project the highest growth rate due to rising interest in advanced and novel technology.
Growth Drivers & Challenges
The Allergan gel stent is soft which involve minimal invasive procedure, 6mm long with width of human hair approximately and permanent implant setup are the driving factors for global gel stent market. Gel stents are the breakthrough for the patients with primary open glaucoma and failed surgical treatment i.e. unresponsive to traditional medical therapy.
Main restraint in global gel stent market is that only few qualified ophthalmologist can determine if implant is suitable for patient’s condition. Product portfolio for gel stents is not big enough like other stents, mandatory registrations for medical devices and non commercialized insurance coverage for this product hinders the global gel stent market.
Key Market Players
• ALLERGAN
Synopsis
Business Strategy
Product Portfolio
SWOT Analysis
• AqueSys Inc.
• Glaukos
• Innfocus
Scope Background
Market Synopsis
Market Segmentation
The Global Gel Stent Market is segmented as follows:
• By Clinical Trials Market Size, Demand Analysis and Growth Analysis
• By End-User Market Size, Demand Analysis and Growth Analysis
By Regions
• North America U.S., Canada {Market Size, Growth Analysis and Opportunity Analysis}
• Latin America Argentina, Mexico, Brazil and Rest of Latin America {Market Size, Growth Analysis and Opportunity Analysis}
• Europe Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe {Market Size, Growth Analysis and Opportunity Analysis}
• Asia-Pacific China, India, Singapore, Japan, Hong-Kong, Australia, New Zealand, South Korea and Rest of Asia Pacific {Market Size, Growth Analysis and Opportunity Analysis}
• Middle East and North Africa MENA {Market Size, Growth Analysis and Opportunity Analysis}
• Rest of World {Market Size, Growth Analysis and Opportunity Analysis}
Market Dynamics: Growth Drivers, Restraints and Opportunities
• Risk Factors
• Regional Variations
• Recent Trends and Developments
Key Market Players
• Synopsis
• Business Strategy
• Product Portfolio
• SWOT Analysis
Porter’s Five Force Model
Market Landscape: Competition and Beyond
Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
Expert Analysis
Concluding Remarks
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