The micro-invasive glaucoma surgery (MIGS) devices market encompasses a variety of solutions, including MIGS stents, MIGS shunts, and other related devices. MIGS stents are tiny tubes inserted to improve fluid drainage, reducing intraocular pressure. MIGS shunts create alternative pathways for aqueous humor to escape the eye, reducing pressure. The "Others" category includes various innovative MIGS devices designed to address glaucoma with less invasive procedures. This diverse range of options caters to the specific needs of patients and offers alternatives to traditional surgical interventions.
According to Data Bridge Market Research, the Global Micro Invasive Glaucoma Surgery (MIGS) Devices Market is expected to reach the value of USD 5,995.46 million by 2029, at a CAGR of 33.3% during the forecast period of 2022-2029.
“Increase in the geriatric population boost the market’s growth”
The increase in the geriatric population serves as a critical driver in the micro-invasive glaucoma surgery (MIGS) devices market. As the elderly demographic is more susceptible to glaucoma, the demand for effective and less invasive treatment options has surged. With their minimally traumatic procedures and reduced recovery times, MIGS devices are increasingly preferred by older patients. This demographic shift propels the growth of MIGS devices as a prominent solution in addressing age-related eye health issues.
What restraints the growth of the global micro invasive glaucoma surgery (MIGS) devices market?
“Stringent government regulations the market’s growth”
Stringent regulations are a notable restraint in the market of micro-invasive glaucoma surgery (MIGS) devices. While regulations are crucial for ensuring patient safety and product efficacy, they can also slow down the approval process, making it challenging for MIGS device manufacturers to bring their innovations to market. This can hinder the timely introduction of new devices and limit the market's growth potential, impacting the accessibility of advanced MIGS solutions for patients and healthcare providers.
Segmentation: Global Micro Invasive Glaucoma Surgery (MIGS) Devices Market
The global micro invasive glaucoma surgery (MIGS) devices market is segmented on the basis of product, target, surgery, end user, and distribution channel.
- On the basis of product, the micro invasive glaucoma surgery (MIGS) devices market is segmented into MIGS shunts, MIGS stents, and others.
- On the basis of target, the micro invasive glaucoma surgery (MIGS) devices market is segmented into the trabecular meshwork, suprachoroidal space, subconjunctival filtration, and reducing aqueous production.
- On the basis of surgery, the micro invasive glaucoma surgery (MIGS) devices market is segmented into glaucoma in conjunction with cataract and stand-alone glaucoma.
- On the basis of end-user, the micro invasive glaucoma surgery (MIGS) devices market is segmented into hospital outpatient departments (HOPD), ophthalmology clinics, Ambulatory Surgery Centers (ASCS), and others.
- On the basis of distribution channel, the micro invasive glaucoma surgery (MIGS) devices market is segmented into direct tender and retail sales.
Regional Insights: North America dominates the Global Micro Invasive Glaucoma Surgery (MIGS) Devices Market
North America dominates the micro-invasive glaucoma surgery (MIGS) devices market, primarily driven by an increasing prevalence of glaucoma and other eye-related conditions. The United States leads the way within North America due to strategic partnerships and acquisitions by major industry players, contributing to market expansion. Market growth in the region is expected to be bolstered by companies aiming to broaden their product range and establish a more substantial presence in emerging markets through strategies like expansions, partnerships, and collaborations.
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Recent Developments
- In January 2022, Glaukos marked a significant milestone by enrolling the first patient in a Phase II clinical trial for GLK-301, a potential treatment for dry eye disease. Successful regulatory approval for this drug could fuel the company's business expansion.
- In January 2022, Alcon bolstered its eye surgery portfolio with the acquisition of Ivantis, the creator of the innovative Hydrus Microstent—a minimally invasive glaucoma surgery (MIGS) device designed to reduce eye pressure in open-angle glaucoma patients. This strategic acquisition is set to strengthen Alcon's presence in eye surgery.
The Prominent Key Players Operating in the Global Micro Invasive Glaucoma Surgery (MIGS) Devices Market Include:
- AbbVie (U.S.)
- BVI (U.S.)
- Ellex (Australia)
- Glaukos Corporation (U.S.)
- Johnson and Johnson (U.S.)
- Alcon (Switzerland)
- Microsurgical Technology (U.S.)
- New World Medical (U.S.)
- Santen Pharmaceutical (Japan)
- Nova Eye Medical Limited (Australia)
- Belkin Vision (U.S.)
- Sight Scientific (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global micro invasive glaucoma surgery (MIGS) devices market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Micro Invasive Glaucoma Surgery (MIGS) Devices Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
