Asia-Pacific Micro Invasive Glaucoma Surgery (MIGS) Devices Market, By Product (MIGS Stents, MIGS Shunts and Others), Target (Trabecular Meshwork, Suprachoroidal Space, Subconjunctival Filtration and Reducing Aqueous Production), Surgery Type (Glaucoma in Conjunction with Cataract and Stand-Alone Glaucoma), End User (Hospital Outpatient Departments (HOPD), Ophthalmology Clinics, Ambulatory Surgery Centers (ASCS) and Others), Distribution Channel (Direct Tender and Retail Sales), Country (China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines and Rest of Asia-Pacific) – Industry Trends & Forecast to 2027
Micro invasive glaucoma surgery (MIGS) devices market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 29.1% in the forecast period of 2020 to 2027 and is expected to reach USD 285.32 million by 2027 from USD 36.42 million in 2019. Rising incidence of glaucoma across the world, increase in the geriatric population are the major drivers which propelled the demand of the market in the forecast period.
MIGS stands for micro invasive glaucoma surgery which is useful in the treatment of glaucoma. It is a breakthrough technology in the treatment of mild to moderate glaucoma. It is an alternate to the medications given earlier and it also prevents the complications of conventional surgery type. These procedures are used to lower the intra ocular pressure of the eye to prevent the damage of optic nerve. These procedures are safer and have a very rapid recovery time as compared to the conventional surgery type
MIGS devices demand has increased as compared to the precise year with rapid transition from glaucoma medication to minimally invasive glaucoma surgeries along with introduction of technological advanced product. In addition demand of MIGS Devices has increased because of government initiatives to increase awareness about prevention of blindness. Further inadequate reimbursement scenario is expected to restraint the usage of MIGS devices and is expected to slow down the growth of the MIGS devices market in the forecasted period.
The Micro Invasive Glaucoma Surgery (MIGS) Devices Market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Micro invasive glaucoma surgery (MIGS) devices market is segmented on the basis of product, target, surgery type, end user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the market is segmented into MIGS stents, MIGS shunts and others. In 2020, MIGS stents is segment is expected to dominate the market in the market due to the high adoption of MIGS stents in micro invasive glaucoma surgery (MIGS) for lowering IOP in difficult-to-treat patients. Further a variety of new glaucoma micro-stents are being manufactured with the usage of various materials.
- On the basis of target, the market is segmented into trabecular meshwork, suprachoroidal space, subconjunctival filtration and reducing aqueous production. In 2020, trabecular meshwork segment is expected to dominate the market as various products available in the market is targeting Trabecular meshwork for the glaucoma treatment as trabecular meshwork is one of the main structures of the drainage angle and plays a very crucial role in the drainage of aqueous. In the eye majority of fluid draining out of the eye is via the trabecular meshwork.
- On the basis of surgery type, the market is segmented into glaucoma in conjunction with cataract and stand-alone glaucoma. In 2020, glaucoma in conjunction with cataract segment is expected to dominate the market due to increasing adoption of micro invasive glaucoma surgery (MIGS) procedure conjunction with cataract in the developed and developing countries.
- On the basis of end user, the market is segmented into hospital outpatient departments (HOPD), ophthalmology clinics, ambulatory surgery centers (ASCS) and others. In 2020, hospital outpatient departments (HOPD) segment is expected to dominate the market as the micro invasive glaucoma surgery (MIGS) procedure is an outpatient surgery that normally takes less than 30 minutes and hospital outpatient departments (HOPD) are one of the first contact point and most trustable option for the patients in various countries.
- On the basis of distribution channel, the market is segmented into direct tender and retail sales. In 2020, direct tender segment is expected to dominate the market as most of the hospital outpatient departments (HOPD), ophthalmology clinics, ambulatory surgery centers (ASCS) are preferring direct tender for the seeking the benefits of bulk buying, discounts and easily availability of products.
Micro Invasive Glaucoma Surgery (MIGS) Devices Market Country Level Analysis
The micro invasive glaucoma surgery (MIGS) devices market is analysed and market size information is provided by product, target, surgery type, end user and distribution channel.
The countries covered in the micro invasive glaucoma surgery (MIGS) devices market report are the Japan, China, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines and Rest of Asia-Pacific.
The Asia-Pacific region is expected to grow with the most promising growth rate in the forecast period of 2020 to 2027 because of increasing awareness regarding treatment of glaucoma with micro invasive surgical procedures. China is dominating Asia-Pacific market due to rising incidence of glaucoma across and increasing government initiatives to increase awareness about prevention of blindness.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Funding in Research & Testing Labs is Creating New Opportunities for Players in the Micro Invasive Glaucoma Surgery (MIGS) Devices Market
Micro invasive glaucoma surgery (MIGS) devices market also provides you with detailed market analysis for every country growth in particular industry with micro invasive glaucoma surgery (MIGS) devices sales, impact of advancement in the micro invasive glaucoma surgery (MIGS) devices and changes in regulatory scenarios with their support for the micro invasive glaucoma surgery (MIGS) devices market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Micro Invasive Glaucoma Surgery (MIGS) Devices Market Share Analysis
Micro invasive glaucoma surgery (MIGS) devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Micro Invasive Glaucoma Surgery (MIGS) Devices market.
The major players covered in the report are Glaukos Corporation, Ivantis Inc., Allergan, Ellex, Alcon, Johnson and Johnson Surgical Vision Inc. and Johnson and Johnson Vision Care Inc. (A subsidiary of Johnson and Johnson Inc.), MicroSurgical Technology (A Subsidiary of Halma plc), Molteno Ophthalmic Ltd., Santen Pharmaceutical among other domestic and Asia-Pacific players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launch and agreement are also initiated by the companies’ worldwide which are also accelerating the micro invasive glaucoma surgery (MIGS) devices market.
- In November 2019, Glaukos Corporation stated that it has taken over Avedro, Inc., which also works in the development of products for corneal health. This acquisition has led to widening of product portfolio .This led to an enhancement in the revenue.
- In July 2019, MicroSurgical Technology (MST), in collaboration with glaucoma and cataract surgeon Ike Ahmed, MD, has launched a product known as MST 19-gauge Ahmed Micro Stent Cutter.
Collaboration, joint ventures and other strategies by the market player is enhancing the company market in the micro invasive glaucoma surgery (MIGS) devices market which also provides the benefit for organisation to improve their offering for micro invasive glaucoma surgery (MIGS) devices.
Customization Available: Asia-Pacific Micro Invasive Glaucoma Surgery (MIGS) Devices Market
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