Micro invasive glaucoma surgery (MIGS) is revolutionizing the treatment of mild to moderate glaucoma by offering safer alternatives to conventional surgery and reducing intraocular pressure without damaging the optic nerve. This advancement addresses the limitations and risks associated with traditional treatments. The market for MIGS is expected to grow as it provides patients with shorter recovery times, improved safety, and enhanced efficacy compared to standard surgical procedures, driving its adoption in the market.
According to Data Bridge Market Research, the Micro Invasive Glaucoma Surgery (MIGS) Devices Market accounted for USD 537.32 million in 2022, and is expected to reach USD 5519.27 million by 2030, at a CAGR of 33.8% during the forecast period 2023 to 2030.
“Increase in the occurrence of ophthalmic disorders”
The increasing number of elderly individuals and the prevalence of age-related eye diseases, such as cataracts and glaucoma, contribute to the growing demand for micro invasive glaucoma surgery (MIGS) devices. These conditions often lead to blindness and require effective treatment options. Technological advancements in MIGS devices and rising patient awareness of minimally invasive surgeries have fueled the demand for combined glaucoma and cataract treatment, driving the growth of the MIGS devices market.
What restraints the growth of USA micro invasive glaucoma surgery (MIGS) devices market?
“Stringent regulations for MIGS devices”
In the United States, device manufacturers are subject to several regulations, such as Establishment Registration, Premarket Notification, Premarket Approval, Investigational Device Exemption, Quality System regulation, Labeling requirements, and Medical Device Reporting. The stringent premarket application process for high-risk devices like micro invasive glaucoma surgery (MIGS) devices can lead to long timelines and delayed market access. These regulatory requirements aim to ensure safety and efficacy but may limit the market potential for MIGS devices due to the extended approval process.
Segmentation: USA Micro Invasive Glaucoma Surgery (MIGS) Devices Market
The micro invasive glaucoma surgery (MIGS) devices market is segmented on the basis of target, product, surgery type, distribution channel and end user.
- On the basis of product, the micro invasive glaucoma surgery (MIGS) devices market is segmented into MIGS stents, MIGS shunts and others.
- On the basis of target, the micro invasive glaucoma surgery (MIGS) devices market is segmented into trabecular meshwork suprachoroidal space subconjunctival filtration and reducing aqueous production.
- On the basis of surgery type, 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.
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Recent Developments in USA Micro Invasive Glaucoma Surgery (MIGS) Devices Market
- In 2022, Glaukos commenced Phase II clinical trial for GLK-301, a potential treatment for dry eye disease. Successful regulatory approval could fuel business growth in Glaukos' ophthalmic segment, providing new therapeutic options for patients with dry eye disease.
- In 2022, Alcon acquired Ivantis, the developer of the Hydrus Microstent, a minimally invasive device for reducing eye pressure in open-angle glaucoma patients. This strategic acquisition enhances Alcon's eye surgery portfolio, solidifying their market position and expanding their offerings in glaucoma treatment.
The Prominent Key Players Operating in the USA Micro Invasive Glaucoma Surgery (MIGS) Devices Market Include:
- Glaukos Corporation (U.S.)
- Ivantis Inc. (U.S.)
- AbbVie Inc. (U.S.)
- Ellex (U.S.)
- Alcon (Switzerland)
- BVI (U.S.)
- Johnson and Johnson Surgical Vision Care Inc. (U.S.)
- Microsurgical technology (U.S.)
- Molteno Ophthalmic Ltd. (New Zealand)
- New world Medical Inc. (U.S.)
- Santen Pharmaceutical Co., Ltd. (Japan)
- Sight Scientific (U.S.)
- Bausch & Lomb Incorporated. (Canada)
- NeoMedix Healthcare India Pvt. Ltd. (U.S.)
- IOPtima (Israel)
Above are the key players covered in the report, to know about more and exhaustive list of USA micro invasive glaucoma surgery (MIGS) devices market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: USA 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.
