Micro Invasive Glaucoma Surgery (MIGS) Devices Market to Garner USD 5,995.46 Million by 2029, Size, Share, Growth, Demands, Challenges, Opportunities and Key Players

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.

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PHOENX, Aug. 31, 2022 (GLOBE NEWSWIRE) -- A Qualitative Research Study accomplished by Data Bridge Market research's database of 350 pages, titled “Global Micro Invasive Glaucoma Surgery (MIGS) Devices Market” with 100+ market data Tables, Pie Charts, Graphs & Figures spread through Pages and easy-to-understand detailed analysis. Micro Invasive Glaucoma Surgery (MIGS) Devices Market report puts light on the change in the market which is taking place due to the moves of key players and brands such as product launches, joint ventures, mergers and acquisitions that in turn modifies the view of the global face of HEALTHCARE industry. This market analysis document takes into account myriad of aspects of the market analysis which today’s businesses call for. To make the report outstanding, most up-to-date and advanced tools and techniques are used so that client achieves maximum benefits. The widespread Micro Invasive Glaucoma Surgery (MIGS) Devices Market business report also includes market drivers and market restraints that are derived from SWOT analysis.

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

  • Forecast Period - 2022 to 2029
  • Base Year – 2021
  • Historic Years - 2020 (Customizable to 2014 - 2019)

Market Analysis:-

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.

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.

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.

Key Market Competitors Covered in the Report

  • Glaukos Corporation
  • Ivantis Inc.
  • Allergan
  • Ellex
  • Alcon
  • BVI
  • Johnson and Johnson Surgical Vision
  • Microsurgical technology
  • Molteno Ophthalmic Ltd.
  • New world Medical
  • Santen Pharmaceutical
  • Sight Scientific

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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.

The investment made in the study would provide you access to information such as:

  • Micro Invasive Glaucoma Surgery (MIGS) Devices Market [Global – Broken-down into regions]
  • Regional level split [North America, Europe, Asia Pacific, South America, Middle East & Africa]
  • Country-wise Market Size Split [of important countries with major market share]
  • Market Share and Revenue/Sales by leading players
  • Market Trends – Emerging Technologies/products/start-ups, PESTEL Analysis, SWOT Analysis, Porter’s Five Forces, etc.
  • Market Size
  • Market Size by application/industry verticals
  • Market Projections/Forecast

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.

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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

Target

  • Trabecular meshwork
  • Suprachoroidal space
  • Subconjunctival filtration
  • Reducing aqueous production

Surgery Type

  • Glaucoma in conjunction with cataract
  • Stand-alone glaucoma

End User

  • Hospital outpatient departments (HOPD)
  • Ophthalmology clinics
  • Ambulatory surgery centers (ASCS)
  • Others

Distribution Channel

  • Direct tender
  • 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 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.

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Explore DBMR Comprehensive Coverage on Healthcare Domain:

  • USA Micro Invasive Glaucoma Surgery (MIGS) Devices Market, By Product (MIGS Stents, MIGS Shunts, Vasodialtion Devices, Filtration Devices and Surgical System), Target (Trabecular Meshwork, Suprachoroidal Space, Subconjunctival Filtration and Reducing Aqueous Production), Material Type (Titanium, STAINLESS Steel, Polyamide, Gelatin, Silicone), Surgery type (Glaucoma in Conjunction with Cataract and Stand-Alone Glaucoma), Glaucoma Type (Open Angle Glaucoma, Acute Angle Closure Glaucoma, Secondary Glaucoma, Normal Tension Glaucoma), End User (Hospital Outpatient Departments (HOPD), Ophthalmology Clinics, Ambulatory Surgery Centers (ASCS) and Others), Distribution Channel (Direct Tender and Retail Sales) https://www.databridgemarketresearch.com/reports/usa-micro-invasive-glaucoma-surgery-migs-devices-market
  • Glaucoma Surgery Market, By Target (Trabecular Meshwork, Suprachoroidal Space, Others), Surgery Type (Conventional Glaucoma Surgeries, Minimally Invasive Glaucoma Surgeries), Product (Glaucoma Drainage Devices, Glaucoma Laser Devices, Implants & Stents), End-User (Eye Hospitals, Ophthalmology Clinics, Outpatient Surgical Centers) Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast https://www.databridgemarketresearch.com/reports/global-glaucoma-surgery-market
  • Glaucoma Surgery Devices Market, By Target (Trabecular Meshwork, Suprachoroidal Space, Others), Surgery Type (Conventional Glaucoma Surgeries, Minimally Invasive Glaucoma Surgeries), End-User (Eye Hospitals, Ophthalmology Clinics, Outpatient Surgical Centres) Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) https://www.databridgemarketresearch.com/reports/global-glaucoma-surgery-devices-market

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Mot-clé

Micro Invasive Glaucoma

Hyperliens