Fact.MR, a global research & consulting firm, in their latest edition of the report, anticipated that the micro-bypass systems market will be experiencing steady growth pace, since the market is still in its initial phase. A rise in cases of aniridia along with other iris deficiencies in the general population are surging highly in geriatric patients.
Fact.MR, a global research & consulting firm, in their latest edition of the report, anticipated that the micro-bypass systems market will be experiencing steady growth pace, since the market is still in its initial phase. A rise in cases of aniridia along with other iris deficiencies in the general population are surging highly in geriatric patients. Hereafter, with mounting global population, mainly the geriatric who are more vulnerable to suffer from eye disorders, the micro-bypass systems industry is poised to rise at a steady pace.
“Micro-bypass systems market players are mainly centred on clinical trials in addition to the expansion of novel iris implants to take benefit of the present market landcape.” states Fact.MR.
Surging Clinical Trials & Approvals by Regulatory Authorities Spearheading Industry Growth
Surging clinical trials in the developed economies utilizing micro-bypass system implants for the treatment of several eye defects is anticipated to encourage industry growth. In the US, Food and drug administration (FDA) approvals for micro-bypass systems is also projected to be a key driving factor for the industry in the forthcoming years.
iStent® by Glaukos, a latest approval by the FDA for one of kind micro-bypass systems implant is witnessed as new market prospects in the region. Consequently, it is likely to fuel competition in the micro-bypass systems industry.
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Why is Demand from Polymer Micro-Bypass Systems More?
Polymer micro-bypass systems will continue exhibiting high demand and is expected to gain significant market share in 2021 and beyond. The growth can be primarily ascribed to its adoption in a stand-alone procedure or in combination with cataract surgery.
Furthermore, the single-use instrument does not necessitate a capital investment as well as is reimbursed under a Class I CPT code. The implantation does not depend on foreign body inside the eye and concurrently delivers a controlled procedure, this in turn is driving the demand for micro-bypass systems.
What are the Factors Responsible for Industry Growth in the US?
The US is likely to gain majority of the micro-bypass systems industry share, due to the presence of number of market players in the region, as well as fast recovery time after implantation of micro-bypass system. The US micro-bypass systems industry is likely to expand notably owing to the growing incidences of eye defects, particularly glaucoma, together with the rising inclination towards minimally invasive eye surgery. Germany and the UK will account for the second-biggest share in the approaching years.
Growing healthcare amenities as well as low cost healthcare services in India, China and South Korea are projected to offer lucrative development prospects.
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Product Approvals and Clinical Trials Remain Key Focus Areas: Fact.MR Survey
The micro-bypass systems market appears quite consolidated and restricted to very few players. Fact.MR’s survey reflected that the major players are engaged in conducting clinical trials along with regulatory approvals for novel products. The updated edition of the report offer all-inclusive coverage of the anticipated to remain significant strategies of the companies. A few of the key companies profiled in the report are Alcon, Glaukos, along with others. The latest edition also offers a comprehensive analysis of the COVID-19 impact on this market.
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Source: Fact.MR