South Korea Glaucoma Surgery Devices Market Size & Outlook
South Korea glaucoma surgery devices market, 2018-2030 (US$M)
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South Korea glaucoma surgery devices market highlights
- The South Korea glaucoma surgery devices market generated a revenue of USD 28.8 million in 2023 and is expected to reach USD 40.9 million by 2030.
- The South Korea market is expected to grow at a CAGR of 5.2% from 2024 to 2030.
- In terms of segment, glaucoma drainage device was the largest revenue generating product in 2023.
- Glaucoma drainage device is the most lucrative product segment registering the fastest growth during the forecast period.
Glaucoma surgery devices market data book summary
| Market revenue in 2023 | USD 28.8 million |
| Market revenue in 2030 | USD 40.9 million |
| Growth rate | 5.2% (CAGR from 2023 to 2030) |
| Largest segment | Glaucoma drainage device |
| Fastest growing segment | Glaucoma drainage device |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Punches, USC maker, USC planner, USC shaver, Forceps, Algerbrush, Probes, Diamond knives, Glaucoma drainage device, Laser system |
| Key market players worldwide | Alcon Inc, Glaukos Corp, Johnson & Johnson, AbbVie Inc, Carl Zeiss Meditec AG, Lumenis, Ziemer Ophthalmic Systems, IRIDEX Corp, Corza Health, Katalyst Surgical, Altomed |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.7% of the global glaucoma surgery devices market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China glaucoma surgery devices market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 76.5 million by 2030.
Glaucoma drainage device was the largest segment with a revenue share of 27.78% in 2023. Horizon Databook has segmented the South Korea glaucoma surgery devices market based on punches, usc maker, usc planner, usc shaver, forceps, algerbrush, probes, diamond knives, glaucoma drainage device, laser system covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing geriatric population and growing incidence of diabetes in South Korea are major market drivers. For instance, according to the report by Statistics Korea, the number of people aged 65 years and older was 8.53 million in 2021. Furthermore, increasing healthcare expenditure and favorable government policies for product approval have encouraged several major players to enter this market.
Moreover, the growing elderly population is expected to drive the glaucoma surgery devices market further. For instance, as per Korea Herald, around 16.5% of the country’s population is likely to be aged over 65 years. As elder people are more susceptible to glaucoma, the South Korea market is expected to grow considerably over the forecast period.
To fulfill the regional and global demand for glaucoma and diabetes devices, South Korea is considering all the essential steps to support the country’s major market players. With an increase in foreign demand for Korean-made diabetes devices, domestic companies are aiming for global market with competitive services & prices.
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Glaucoma Surgery Devices Market Scope
Glaucoma Surgery Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea glaucoma surgery devices market size, by product, 2018-2030 (US$M)
South Korea Glaucoma Surgery Devices Market Outlook Share, 2023 & 2030 (US$M)
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