4.8.9.2Vertical

Glaucoma Treatment Devices

Micro-invasive glaucoma surgery (MIGS) implants, drainage tubes, laser treatment systems, and IOP monitoring devices for glaucoma management.

Market snapshot

These figures describe Ophthalmology & Vision Devices (4.8.9), the segment that Glaucoma Treatment Devices sits within. They are not figures for Glaucoma Treatment Devices on its own.

Market size
~$6.5B
Growth
~1.1%CAGR (2017–22, nominal)
Companies
~300 firms
Firms by employee count

73.7% of firms have fewer than 20 employees: 221 micro-businesses, below most mandates.

The investable universe79 firms with 20+ employees
20–99
4759%
100–499
1215%
500+
2025%

~300 makers of intraocular lenses, cataract and refractive equipment, and glaucoma devices, led by Alcon and J&J Vision. Aging-driven cataract volumes and premium IOLs support demand, though measured growth was flat (~1%/yr). The code captures broader ophthalmic goods, and with only 20 firms over 500 employees the strategic-buyer pool is thin. Exits skew sponsor-to-sponsor.

NAICS 339115. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.

Business model & economics

Revenue model

Implants, equipment, and consumables for eye care

Key economics

Revenue per firm
$21,707,953
Revenue per employee
$303,778
Employees per firm
73.7
Recurring revenue
Moderate

procedure-driven implants and consumables

EBITDA margin
18–28%
Capex intensity
High

Characteristics

  • Scale-driven: payroll is only 22% of revenue, so the cost base is assets, not headcount
  • Thin strategic-buyer pool: only 20 firms exceed 500 employees, so exits skew sponsor-to-sponsor
  • Aging-driven cataract and retinal procedure growth.
  • Premium IOLs a higher-value growth area.
  • Led by Alcon and J&J Vision.

NAICS 339115. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.

Geographic concentration

AlabamaAlaskaArizonaColoradoFloridaIndianaKansasMaineMassachusettsNew JerseyNorth CarolinaNorth DakotaOklahomaPennsylvaniaSouth DakotaTexasWyomingConnecticutMissouriWest VirginiaIllinoisNew MexicoCaliforniaDelawareDistrict of ColumbiaHawaiiIowaKentuckyMarylandMichiganMississippiMontanaNew HampshireNew YorkOhioOregonTennesseeUtahVirginiaWashingtonWisconsinSouth CarolinaIdahoNevadaVermontLouisianaRhode IslandGeorgiaMinnesotaArkansasNebraska

Ophthalmology and vision-device manufacturing over-indexes by employment in Minnesota, Arkansas, Nebraska, and Georgia, reflecting concentrated device-maker operations.

MinnesotaArkansasNebraskaGeorgia

U.S. Census Bureau, 2022 County Business Patterns (employment by state), NAICS 339115. Concentration shown by location quotient.

M&A deal context

Deal activityModerate

Who’s acquiring

  • Ophthalmic-device strategics
  • Diversified medtech platforms
  • VC-backed innovators

What’s driving deals

  • Premium-IOL and MIGS innovation.
  • Aging-demographic procedure demand.
  • Acquisition of ophthalmic innovation.

Find Glaucoma Treatment Devices acquisition targets

Search Acquisera’s index for companies classified under Glaucoma Treatment Devices (4.8.9.2) and build a targeted deal pipeline.

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