Global 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) - Industry Trends and Forecast to 2029.
Micro Invasive Glaucoma Surgery (MIGS) Devices Market Analysis and Size
Micro invasive glaucoma surgery is used to treat open-angle glaucoma. Initially, to treat OAG, medication was given that reduced aqueous humor production or increased aqueous humor outflow. For mild to moderate OAG, traditionally, pharmacologic and laser treatment was performed. With the coming of micro invasive glaucoma surgery (MIGS) procedures, new options were created for those not fit for conventional surgery. An increase in the population of geriatrics and increasing government initiatives for the prevention of blindness are expected to boost the market. Rapid transition from glaucoma medication to minimally invasive glaucoma surgeries might be creating opportunities for the manufacturer of MIGS devices. However, poor reimbursement facilities might act as an obstacle for the market.
The rise in demand for micro invasive surgery is because of growing incidences of eye diseases, rising demand for micro invasive surgeries and reduced surgical trauma, propelling the need for the market in the forecast period. However, the high installation cost and shortage of skilled professionals may hamper the minimally invasive surgery market growth in the forecast period.
Data Bridge Market Research analyses that the 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. “MIGS Stents" accounts for the largest technology segment in the micro invasive glaucoma surgery (MIGS) devices market due to rapid developments in technological pathways to commercialize the use of micro invasive glaucoma surgery (MIGS) devices. The micro invasive glaucoma surgery (MIGS) devices market report also covers technological advancements in depth.
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Report Metric |
Details |
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Forecast Period |
2022 to 2029 |
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Base Year |
2021 |
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Historic Years |
2020 (Customizable to 2019 - 2014) |
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Quantitative Units |
Revenue in USD Million |
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Segments Covered |
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) |
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Countries Covered |
U.S., Canada, Mexico in North America. U.K., Germany, France, Spain, Italy, Netherlands, Switzerland, Russia, Belgium, Turkey, Rest of Europe in Europe. China, South Korea, Japan, India, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, Rest of Asia-Pacific in Asia-Pacific. South Africa, Saudi Arabia, U.A.E., Israel, Egypt, Rest of Middle East and Africa (MEA) in Middle East and Africa. Brazil, Argentina and Rest of South America in South America. |
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Market Players Covered |
AbbVie, BVI, Ellex, Glaukos Corporation, Johnson and Johnson, Alcon, Microsurgical technology, New World Medical, Santen Pharmaceutical, Nova Eye Medical Limited, Belkin Vision and Sight Scientific among others. |
Market Definition
MIGS stands for micro invasive glaucoma surgery, which helps treat glaucoma. It is a breakthrough technology in the treatment of mild to moderate glaucoma. It is an alternative to the medications given earlier and it also prevents the complications of conventional surgery. These procedures are used to lower the intra-ocular pressure of the eye to avoid damage to the optic nerve. These procedures are safer and have a very rapid recovery time compared to conventional surgery. The various MIGS devices implanted are shunts and stents to lower the IOP.
Micro Invasive Glaucoma Surgery (MIGS) Devices Market Dynamics
- Increase in the geriatric population
A significant health-related issue among the elderly is vision loss. According to the American Academy of Family Physicians, by age 65, one in three people suffer from vision-reducing eye disease. The elderly population is increasing rapidly. Therefore this creates a demand for advanced technologies to treat glaucoma amongst older adults. Hence, an increase in the geriatric population is a driver for the market.
- Rise in incidence of glaucoma across the world
The cause of irreversible global blindness is majorly glaucoma. A glaucoma is a group of eye disorders that have very little to no symptoms in the initial stage but afterward lead to damage of optic nerves, which can lead to vision loss or blindness. The prevalence of glaucoma has been increasing. Therefore this creates a demand for MIGS devices; hence an increasing incidence of glaucoma is expected to act as a driver for the market.
- Government initiatives to increase awareness about the prevention of blindness
According to WHO, at least 2.2 billion people have visual impairment and blindness, out of which at least 1 billion have a vision impairment that could have been prevented. To prevent these, the government of several countries across the globe have taken initiatives. This creates a demand for advanced treatments such as micro-invasive glaucoma surgery, which boosts the MIGS device market. Hence, it is expected to act as a driver for the market.
- Introduction of technological advanced product
Glaucoma is a severe eye disease that can lead to vision loss if not controlled. It generally does not lead to blindness as it can be controlled by modern treatment and many options for preventing further damage. With the increased scientific developments, there has been a revolutionary change in the treatment of glaucoma. With the advent of micro-invasive glaucoma surgery, there is a paradigm shift in medicine as it can help in the treatment of glaucoma at an early stage and avoid the dependency on filtration surgeries like trabeculectomy. This also overcomes the risks associated with these incisional surgeries. There are various advancements in the treatment of glaucoma with MIGS.
Restraints/Challenges faced by the Market
- Stringent regulations for MIGS devices
There are at least 7 regulations that any device manufacturer must completely fulfill in the U.S., namely Establishment Registration & Medical Device Listing, Premarket Notification 510(k), Premarket Approval (PMA)(only for class three devices), Investigational Device Exemption (IDE) for clinical studies, Quality System (QS) regulation, Labeling requirements and Medical Device Reporting (MDR). These highest-risk devices need a more stringent premarket application regulatory process to demonstrate valid evidence of safety and efficacy. Lengthy timelines result in delayed access, which might restrict the market for MIGS devices.
- High cost of surgical procedures
Though glaucoma treatments have modest results and are safer than traditional filtration surgeries, they have very high costs. Also, people may require subsequent surgeries if the intra-ocular pressure is not effectively lowered at once. All these considerations make these procedures highly costly and inaccessible to most people and hence, high surgical procedure costs might be a restraint on the market.
Recent Developments
- In January 2022, Glaukos announced GLK=301's first patient enrolment in the Phase II clinical trial for dry eye disease. After the successful approval from the regulatory body, this drug will help the company grow its business segment.
- In January 2022, Alcon acquired Ivantis, developer of the novel Hydrus Microstent, a minimally invasive glaucoma surgery (MIGS) device. This surgical device is designed to lower eye pressure for open-angle glaucoma patients. This acquisition will enhance the company’s portfolio in eye surgery segment.
Micro Invasive Glaucoma Surgery (MIGS) Devices Market Scope
The micro invasive glaucoma surgery (MIGS) devices market is segmented on the basis of product, target, surgery, end user and distribution channel. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- MIGS stents
- MIGS shunts
- Others
On the basis of product, the micro invasive glaucoma surgery (MIGS) devices market is segmented into MIGS shunts, MIGS stents and others.
Target
- Trabecular meshwork
- Suprachoroidal space
- Subconjunctival filtration
- Reducing aqueous production
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.
Surgery Type
- Glaucoma in conjunction with cataract
- Stand-alone glaucoma
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.
End User
- Hospital outpatient departments (HOPD)
- Ophthalmology clinics
- Ambulatory surgery centers (ASCS)
- Others
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.
Distribution Channel
- Direct tender
- Retail sales
On the basis of distribution channel, the micro invasive glaucoma surgery (MIGS) devices market is segmented into direct tender and retail sales.
Micro Invasive Glaucoma Surgery (MIGS) Devices Market Regional Analysis/Insights
The micro invasive glaucoma surgery (MIGS) devices market is analysed and market size insights and trends are provided by country, product, target, surgery, end user and distribution channel as referenced above.
The countries covered in the micro invasive glaucoma surgery (MIGS) devices market report are U.S., Canada and Mexico in North America, U.K., Germany, France, Spain, Italy, Netherlands, Switzerland, Russia, Belgium, Turkey and the rest of Europe in Europe, China, South Korea, Japan, India, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines and the rest of Asia-Pacific in the Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E., Israel, Egypt and the rest of the Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and rest of South America as part of South America.
North America is dominating the micro invasive glaucoma surgery (MIGS) devices market. The growth in the region can be attributed to rising incidences of glaucoma diseases along with other eye diseases in the region. The U.S. dominates the North America region due to collaborations and acquisitions of major market players is helping the market grow. The demand in this region is projected to be driven by market players who are focusing on expanding their regional product offerings and enhancing their presence in emerging markets through various growth strategies, such as, expansions, partnerships and collaborations among others.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Micro Invasive Glaucoma Surgery (MIGS) Devices Market Share Analysis
The 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, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus on the micro invasive glaucoma surgery (MIGS) devices market.
Some of the major players operating in the micro invasive glaucoma surgery (MIGS) devices market are AbbVie, BVI, Ellex, Glaukos Corporation, Johnson and Johnson, Alcon, Microsurgical technology, New World Medical, Santen Pharmaceutical, Nova Eye Medical Limited, Belkin Vision and Sight Scientific among others.
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