GelStent Market, End User (Eye Research Institutes, Eye Clinics, andHospitals), and By Geography (North America, Latin America, Europe, AsiaPacific, Middle East, and Africa) – Size, Share, Outlook, and OpportunityAnalysis, 2018 – 2026
Stent is a small expandable tubeused for the treatment of narrowed arteries. It is used to prevent bursting ofarteries and improve blood flow of weak arteries. Soft gelatin is used for thepreparation of gel stent. When gel stent is injected, it gets hydrated anddrains the aqueous humor in the sub-conjunctival space, which lowers theintraocular pressure. This procedure is minimally invasive.
Gel Stent Market – Dynamics
Rising population above the ageof 40 is a major factor driving growth of the market. For instance in 2017, 2.7million out of 3 million Americans are suffering with glaucoma were aged 40 andolder. This is attributed to high chances of people aged 40 and above sufferingfrom miosis, in which excessive contraction of eye increase in the elderpopulation. Glaucoma is one of the leading cause for blindness. Increasingdemand for minimally invasive procedures and increasing incidences of glaucomaare other factors that are expected to drive growth of the global gel stentmarket over the forecast period. According to Glaucoma Research Society in U.S.in 2017, more than 120,000 are blind from glaucoma.
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However, high cost of the gelstent, lack of availability of healthcare professionals and lack of awarenessregarding the technique are factors that hinder growth of the gel stent market.
Gel Stent Market – RegionalInsights
On the basis of geography, theglobal gel stent market is segmented into North America, Latin America, Europe,Asia Pacific, Middle East, and Africa. North America is expected to holddominant position in the gel stent market, followed by Europe during theforecast period. The U.S. holds dominant position in the market in this regiondue to continuous technological advancements and developed healthcareinfrastructure.
According to American GlaucomaSociety, glaucoma is the second leading cause of blindness in the U.S. andglobally. In the U.S, over 3 million people suffer from glaucoma while only 50%are aware of the diagnosis. In 2016, over 120,000 people in the U.S. sufferedfrom blindness due to glaucoma.
According to the World HealthOrganization (WHO), Asians have more chances of suffering from close angleglaucoma while people from Europe or Africa are more likely to suffer fromprimary open angle glaucoma. According to WHO, In South India, glaucomaprevalence is 2.6%. In Africa, the prevalence of glaucoma is 1–2%, but can riseto about 10% in the Caribbean.
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Gel Stent Market - CompetitiveLandscape
Key players are focusing onresearch and development, in order to develop technologically advanced productsand enhance their product portfolio. The XEN (Allergan) received approval fromthe U.S. Food and Drug Administration (FDA) in November 2016 and launched inthe U.S. in early 2017. Major players operating in the global gel stent marketinclude Allergan, Alcon, Innfocus and Glaukos Corp.
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