Global Canaloplasty Treatment Market -2023-2030

Overview

Canaloplasty is a surgical procedure used to treat glaucoma, a group of eye conditions characterized by increased intraocular pressure (IOP) that can damage the optic nerve and lead to vision loss. The primary goal of canaloplasty is to lower elevated IOP, which is a major risk factor for optic nerve damage and progressive vision loss in glaucoma. By unblocking and widening the eye's natural drainage system, canaloplasty can effectively reduce IOP and help preserve vision.

Long-lasting IOP reduction from canaloplasty can help patients avoid or delay further procedures and lessen the need for frequent medication modifications. For a variety of individuals, including those with mild to moderate open-angle glaucoma who have not found relief from medication and are searching for a surgical option, canaloplasty may be an effective course of treatment. Patients who want to reduce the dangers connected with more invasive surgeries can additionally opt for it.

Market Dynamics: Drivers and Restraints

The strategies adopted by the companies

The strategies like product launches and technological developments of the products by the companies which accelerates the market growth.For instance, in April 2022, Nova Eye Medical Limited is offering the iTrack Advance, a next-generation canaloplasty device, in a few European and Asian regions. The launch of the iTrack Advance demonstrates our dedication to expanding the canaloplasty sector. The company anticipates that the release of iTrack Advance will lead to an increase in the number of cataract surgeons and general ophthalmologists performing canaloplasty procedures.

One of the main factors propelling the growth of the worldwide canaloplasty market's revenue is the rise in glaucoma cases. The number of glaucoma patients is cyclically increasing because the condition is a painless eye ailment that does not cause symptoms until there is considerable vision loss. Thus above factors boost the market growth.

Market Dynamics: Restraint

Canaloplasty has a number of positive effects but there are also certain things that can prevent it from being widely used or limit its application in specific circumstances. For instance, canaloplasty is a sensitive treatment that demands a surgeon to have a high level of competence and experience.

The availability of canaloplasty to patients may be constrained by the fact that not all eye surgeons are skilled in using this technique, and it can be costly, like many other sophisticated surgical treatments. Particularly in areas or nations with inadequate healthcare coverage or where patients must pay out-of-pocket for medical operations, the cost may be a crucial influencing factor.

Segment Analysis

The global canaloplasty treatment market is segmented based on type, surgical techniques, end-user and region.

The microcatheter-assisted canaloplasty segment from the type segment accounted for approximately 41.7% of canaloplasty treatment share

Microcatheter-assisted canaloplasty is a minimally invasive procedure. It avoids the need for major incisions and reduces trauma to the eye. This minimizes post-operative discomfort and promotes faster recovery compared to traditional, more invasive glaucoma surgeries. Ongoing advancements in microcatheter technology and surgical techniques continue to refine and improve the outcomes of microcatheter-assisted canaloplasty, making it an increasingly viable option for glaucoma patients.

Additionally, the novel products helps to accelerates the segment growth. For instance, in March 2021, Sight Sciences, Inc., a growth-stage Medical Device company focused on addressing the underlying causes of the world's most common eye conditions, the OMNI Surgical System (OMNI) had approved USFDA 510(k) clearance for canaloplasty (microcatheterization and transluminal vasodilation of Schlemm's canal) followed by trabeculotomy (cutting of trabecular meshwork) to reduce Intraocular Pressure (IOP). Thus above factors boost the segment growth.

Geographical Analysis

North America Accounted for Approximately 38.4% of the Market Share in 2022

North America is expected to account for the largest revenue share over the forecast period. Leading market players' presence, efficient reimbursement policies, and public health programs such as Eye America and rise of glaucoma helps to boost the region growth. For instance, according to CDC, a series of illnesses known as glaucoma harm the optic nerve in the eye, which can lead to vision loss and even blindness.

Glaucoma affects about 3 million Americans. It is the second most common cause of blindness in the globe. The most prevalent type of glaucoma, open-angle glaucoma, causes an increase in ocular pressure. Since glaucoma frequently has no early symptoms, 50% of those who have it are unaware that exist. Due to improvements in healthcare infrastructure, rising disposable income, the established presence of domestic companies in the region, the availability of glaucoma surgery devices, healthcare reforms, and technological advancements, Asia Pacific is predicted to experience significant revenue over the forecast period.

COVID-19 Impact Analysis

Restrictions and safety concerns initially limited patient access to treatment centers. Yet, as restrictions relaxed, there was a noticeable market recovery, emphasizing minimally invasive procedures and a rise in telemedicine consultations. Manufacturers and healthcare providers adjusted to the new circumstances by enforcing rigorous safety measures. The market's progress is steadily improving as healthcare systems stabilize and patient confidence rebounds. Future growth is fueled by innovation and a patient-focused approach.

Competitive Landscape

The major global players in the market include: Nova Eye Medical Limited, Ellex Medical Lasers, Haag-Streit, New World Medical, Sight Sciences, Glaukos Corporation, Ophthalmic Instruments Pte Ltd., New World Medical, Inc, Ohio Eye Alliance, iScience Interventional and among others.

Key Developments

• In November 10, 2021, the Food and Drug Administration (FDA) approved an Investigational Device Exemption (IDE) authorising the company to conduct a clinical study to evaluate the safety and effectiveness of a new, higher volume, investigational OMNI device ("higher volume OMNI") to perform canal viscodilation alone to lower intraocular pressure. Sight Sciences, Inc. is an eyecare technology company focused on developing innovative solutions intended to transform standards of care and improve patients' lives.

Why Purchase the Report?

• To visualize the global canaloplasty treatment market segmentation based on type, surgical techniques, end-user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of canaloplasty treatment market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global canaloplasty treatment market report would provide approximately 61 tables, 63 figures and 186 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies