So it turns out that Bono isn’t as much of a self-obsessed rock star as the critics think. The 24/7 sunglasses look is actually due to the fact that the U2 front man has been suffering from glaucoma for the past 20 years.
We’re not just shamelessly capitalizing on the news of the day. The point here is that glaucoma is common, and becoming even more so. An increasing number of cases worldwide is actually driving a CAGR of 20.72 percent from 2013-2018 in the Global Glaucoma Devices Market.
For those not in the know, glaucoma is a condition typically characterized by fluid pressure buildup in the eye. It damages the optic nerve and is often called the sneak thief of sight, as it usually has no warning signs except for a gradual sight loss. There is no cure, but there are many different treatment options that can help prevent total loss of eyesight.
The overall glaucoma devices market can be segmented into three main applications:
Glaucoma Drainage Devices
Glaucoma drainage devices are essential in helping manage pressure buildup due to glaucoma, and made up more than 50 percent of the Global Glaucoma Devices Market in 2013.
Single-use Surgical Devices
Single-use surgical devices include stents and implants used while performing invasive surgery. They are tiny devices that are inserted surgically into the eye during a trabeculectomy to increase the outflow of intraocular fluid and reduce high eye pressure. Glaucoma shunts and implants are effective and safe, and can decrease or completely eliminate the need for daily glaucoma medications.
Glaucoma Lasers
Laser surgery is an effective method to treat lower eye pressure in patients with glaucoma. Laser trabeculoplasty is an initial treatment for open-angle glaucoma, which uses laser beams to open up the drainage systems of the eyes.
But even given the breadth of different treatments available for those suffering from glaucoma, the market still has some significant roadblocks standing in the way of more impressive growth.
Low Patient Compliance
It turns out that patients actually have a rather hard time complying with treatment regimens when it comes to their ocular health. Results from several studies have shown that more than 50 percent of patients with ocular hypertension and primary open-angle glaucoma are likely to discontinue prescribed medication within one year.
Moreover, factors such as complex treatments, high costs, and potential side effects decrease patient compliance significantly. The issue is exacerbated in elderly patients due to added physical limitations. This has been making it difficult for vendors to increase their market share, and has been truncating overall market growth.
Lack of Health Insurance
The lack of insurance coverage in both developed and emerging countries is a major inhibitor for the growth of the Global Glaucoma Devices Market. According to the World Health Organization, 85 percent of the 314 million cases of visual impairment worldwide could have been avoided if patients had been adequately covered by health insurance.
Lack of Trained Ophthalmologists
Another key challenge in the market is the lack of trained ophthalmologists who have expertise in treating eye disorders such as glaucoma. Although the number of people diagnosed with, or prone to, eyesight disorders has been on the rise every year, there is a marked lack of adequately trained and experienced eye care professionals.
Europe, for example, has just one ophthalmologist for every 8,000 individuals. The situation is worse in low- and middle-income countries such as India, where there is just one ophthalmologist for every 200,000 individuals. This poses a major challenge to the growth of the market (and to the overall wellbeing of patients) as the lack of trained professionals results in less early diagnosis and inefficient treatment.
Low Awareness of Ophthalmic Disorders
A lack of awareness of ophthalmic disorders, primarily in rural areas, poses a tremendous challenge for both patients and professionals in the ophthalmology field. A lack of awareness of the importance of regular eye care along with associated health education issues is contributing to a dearth of timely treatment of eye diseases. Insufficient healthcare infrastructure, limited awareness, and poor health budgets will continue to pose a threat to the Global Glaucoma Devices Market, especially in developing countries, over the projected period.
