Richmond, Feb. 09, 2024 (GLOBE NEWSWIRE) -- According to a research report "Minimally Invasive Glaucoma Surgery (MIGS) Devices Market”, by Product Type (Valves, Stents, Glaucoma Drainage Implant, Glaucoma Tube Shunts, Others), Surgery Methods (Endocyclophotocoagulation, Gonioscopy-assisted Transluminal Trabeculectomy, Schlemm’s Canal Implants, Others), End Use ( Hospitals, Ophthalmic Clinics, Surgical Centers, Others) and Region - Global Forecast to 2030.
Global Minimally Invasive Glaucoma Surgery (MIGS) Devices Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 539.62 Million |
| Market size value in 2030 | USD 777.9 Million |
| CAGR (2023-2030) | 5.37% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Product Type, Surgery Methods, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Minimally Invasive Glaucoma Surgery (MIGS) Devices Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The development of minimally invasive glaucoma surgery devices has changed patient care with mild-to-moderate glaucoma conditions. Minimally Invasive Glaucoma Surgery is a surgical procedure performed on patients suffering from glaucoma. MIGS is a safer and more effective surgery as compared to conventional open surgery or laser surgery. Unlike conventional surgeries, MIGS is associated with fewer risks. The microscopic tools and equipment that are administered through lesser invasive means in the glaucoma treatment are known as MIGS devices. MIGS devices come in various forms including stents, shunts, and other forms. Factors such as the increase in the geriatric population, rise in the prevalence of ophthalmic disorders and subsequent blindness are the major drivers for the global MIGS devices market. Cataracts and glaucoma are the two most prevailing eye diseases that arise with growing age, which are one of the major causes of blindness in the aged population. Moreover, increasing demand for combined glaucoma and cataract treatment due to technological advancement in devices and growing awareness about minimally invasive surgeries among patients are factors pushing the growth of the MIGS devices market further. Additionally, the major players in the ophthalmic treatment market are more focused on developing MIGS stents for more effective treatment. This in return is expected to boost the demand for MIGS devices. However, the poor reimbursement scenario and the dearth of experienced and skilled professionals are some of the factors that may hinder the growth of the global MIGS devices market. Nevertheless, the trend in glaucoma therapy is been observed to shift from conventional medication to minimally invasive surgeries, which is anticipated to provide lucrative opportunities to the companies in the MIGS devices market.
Major vendors in the global Minimally Invasive Glaucoma Surgery (MIGS) Devices market are
- Alcon Inc.
- ALLERGAN PLC.
- Corza Ophthalmology
- ELLEX MEDICAL LASERS LTD.
- Glaukos Corporation.
- IRIDEX Corporation
- ISTAR MEDICAL SA
- IVANTIS INC.
- Lumenis Be Ltd.
- NOVARTIS INTERNATIONAL AG
- Ziemer Ophthalmic Systems AG
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The growing incidence of glaucoma
The global Minimally Invasive Glaucoma Surgery (MIGS) Devices market is significantly influenced by the varying prevalence of glaucoma across different demographics. According to findings from the Maccabi Glaucoma Study, the prevalence of glaucoma is notably low at 0.28% in individuals aged 40–50, but substantially higher at 9.2% in those aged 80 or above, highlighting a strong correlation between glaucoma and age. China's data also indicates higher glaucoma prevalence among the elderly, females, and individuals with lower education levels. The significance of maintaining healthy lifestyle behaviors is emphasized, with a notable focus on the connection between personal behavior and glaucoma. However, studies in the United States, specifically in individuals aged 43–84, revealed that alcohol consumption did not impact glaucoma incidence. Interestingly, a contradictory 12-year follow-up study of African-American women suggested a strong correlation between alcohol consumption and glaucoma. These conflicting findings underscore the need for further research to explore the risk factors associated with glaucoma. Given China's large and aging population, there is a potential increase in the risk of developing glaucoma, emphasizing the importance of understanding and addressing these demographic variations.
Market Dynamics
Drivers:
- The growing incidence of glaucoma
- MIGS devices offer several advantages over traditional glaucoma surgeries
- the development of innovative micro-invasive implants and stents
Opportunities:
- Increasing investments in healthcare infrastructure
- Untapped Emerging Markets
- Product Innovation and Development
Untapped Emerging Markets
Emerging markets are currently experiencing a rise in demand for advanced medical technologies due to factors such as rapid urbanization, an aging population, and increasing healthcare expenditure. However, the availability of these innovations is still limited in many regions due to challenges related to infrastructure, regulations, and affordability. Despite these obstacles, MIGS device manufacturers can capitalize on these challenges to expand their influence. By strategically targeting untapped emerging markets, companies have the opportunity not only to address unmet medical needs but also to establish themselves as key players in the global healthcare landscape.
North America dominates the market for Minimally Invasive Glaucoma Surgery Devices.
North American region emerged as the dominant force in the overall market. The robust growth in this region was increased by key factors, including the rapid expansion of the aging population and a surge in glaucoma cases. The adoption of reimbursement models for ophthalmic care and the enforcement of stringent regulatory measures aimed at ensuring patient safety is expected to drive the demand for ophthalmic devices in this area. Additionally, the presence of major market players actively engaged in developing cutting-edge products is dignified to further propel regional market growth. Meanwhile, the Asia Pacific region is projected to witness the highest Compound Annual Growth Rate throughout the forecast period. This growth is primarily attributed to various factors, such as advancements in healthcare infrastructure, a rising prevalence of eye disorders like glaucoma, and increased patient awareness in the region. The expansion is also linked to the escalating outsourcing activities for ophthalmology devices by major industry players like Alcon, Inc. Furthermore, the growing awareness surrounding advanced corrective vision treatments is playing a pivotal role in the development of emerging economies, particularly in countries such as China and India.
The Valves Segments is anticipated to hold the Largest Market Share during the Forecast Period
In the global market for Minimally Invasive Glaucoma Surgery Devices, categories such as Valves, Stents, Glaucoma Drainage Implant, Glaucoma Tube Shunts, and Others play a crucial role. The optimal MIGS device for severe glaucoma cases should demonstrate an Intraocular Pressure -lowering effect akin to trabeculectomy and traditional drainage devices but with an enhanced safety profile. Among MIGS devices, the latest subconjunctival, bleb-forming devices appear to be more promising in achieving this objective compared to others. Despite demonstrating lower rates of hypotony and bleb-related complications than traditional surgeries, these devices still present a noteworthy occurrence of such issues. To address the challenge of hypotony, valves have been integrated into long-tube glaucoma implants like the Ahmed valve, aiming to elevate flow resistance and enhance IOP control. While the Ahmed valve is associated with reduced rates of early postoperative hypotony, evidence indicates that hypotony can still occur. In response, innovative concepts involving both passive and active valves have been proposed to mitigate these challenges.
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