NEW YORK, April 18, 2019 (GLOBE NEWSWIRE) -- The global minimally invasive glaucoma surgery (MIGS) devices market is expected to witness a CAGR of 39.1%, and is projected to reach USD 2392.5 million by 2024. The growth in the MIGS devices market is attributed to the high prevalence of glaucoma diseases across the globe. Moreover, increasing demand for safer and less invasive means of reducing IOP, coupled with growing awareness regarding the advantages of MIGS over medications is also driving the growth in the MIGS devices market.The report segments MIGS devices market by Target (Trabecular, Suprachoroidal, Subconjunctival), Product Type (Stents, Shunts, Others), Surgery (Standalone Surgery, In Combination With Cataract) and Region (North America, Europe, Asia-Pacific, South America, Middle East & Africa(MEA)). The report studies the global MIGS devices market over the forecast period (2018-2024).
Minimally Invasive Glaucoma Surgery (MIGS) includes a broad range of procedures and devices which aim to lower IOP in a safer manner with less surgical risk than the more established procedures. These procedures are prescribed for people with mild to moderate glaucoma. These procedures divert aqueous humor into Schlemm canal (SC), the suprachoroidal space, or the subconjunctival space.
Key findings from the report:
- The global MIGS devices market is expected to reach USD 2392.5 million by 2024
- Based on the Target, the Trabecular Meshwork segment dominated the market in 2017, and is expected to retain its dominance over the forecast period
- On the basis of Product Type, the Stent segment held the largest share of the global MIGS devices market
- North America held the major share of the global MIGS device market in 2017
- Asia-Pacific is projected to show the fastest growth rate during the forecast period
- The key players dealing in MIGS device market are Glaukos Corporation, Ellex Medical Lasers Limited, InnFocus Inc., Ivantis, Inc., Allergan, Santen Pharmaceutical Co, Ltd., Alcon, SOLX, Inc., New World Medical, Inc among others
Minimally Invasive Glaucoma Surgery (MIGS)- Future Alternative For Glaucoma Treatment
Glaucoma is the second leading cause of blindness worldwide. The treatment for mild to moderate glaucoma has been centred around topical medicines, with traditional surgery reserved for more advanced disease. The medical therapy faces the challenge of non-adherence and the traditional surgical procedures carry higher risk of complications. Minimally invasive glaucoma surgery (MIGS) has emerged as a future alternative for the treatment of glaucoma. MIGS can fill the gap in treatment between medical therapy and traditional surgery for patients with mild to moderate forms of glaucoma.
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Minimally Invasive Glaucoma Surgery (MIGS) Device Market – Regional insight
North America held the major share of the global MIGS device market in 2017. The growth in the region is mainly driven by high prevalence of glaucoma due to growing old age population in the region. The Asia-Pacific MIGS device market is projected to show fastest growth rate during the forecast period owing to high population and entry of key players in the regional market.
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