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.
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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Micro Invasive Glaucoma Surgery (MIGS) Devices Market Analysis and Size
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.
Key Market Competitors Covered in the Report
- Glaukos Corporation
- Ivantis Inc.
- Johnson and Johnson Surgical Vision Inc. and Johnson and Johnson Vision Care Inc.(A subsidiary of Johnson and Johnson Inc.)
- Microsurgical technology
- Molteno Ophthalmic Ltd.
- New world Medical
- Santen Pharmaceutical
- Sight Scientific
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.
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.
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Micro Invasive Glaucoma Surgery (MIGS) Devices Market Scope
- MIGS stents
- MIGS shunts
- Trabecular meshwork
- Suprachoroidal space
- Subconjunctival filtration
- Reducing aqueous production
- Glaucoma in conjunction with cataract
- Stand-alone glaucoma
- Hospital outpatient departments (HOPD)
- Ophthalmology clinics
- Ambulatory surgery centers (ASCS)
- 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.
Explore DBMR Comprehensive Coverage on Healthcare Domain:
Asia-Pacific Micro Invasive Glaucoma Surgery (MIGS) Devices Market https://www.databridgemarketresearch.com/reports/asia-pacific-micro-invasive-glaucoma-surgery-migs-devices-market
North America Micro Invasive Glaucoma Surgery (MIGS) Devices Market https://www.databridgemarketresearch.com/reports/north-america-micro-invasive-glaucoma-surgery-migs-devices-market
Middle East and Africa Micro Invasive Glaucoma Surgery (MIGS) Devices Market https://www.databridgemarketresearch.com/reports/middle-east-and-africa-micro-invasive-glaucoma-surgery-migs-devices-market
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