WHO estimates that at least 2.2 billion individuals worldwide have some form of vision impairment or blindness; at least 1 billion of them have a condition that might have been avoided. The government of many nations throughout the world has taken action to stop this. This fuels the market for MIGS devices and increases the demand for cutting-edge therapies such as micro-invasive glaucoma surgery. Consequently, it is anticipated to operate as a market driver. Therefore, the global micro invasive glaucoma surgery (MIGS) devices market is estimated to increase rapidly in the near future.
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Data Bridge Market Research analyses that the micro invasive glaucoma surgery (MIGS) devices market is expected to grow at a CAGR of 33.3% in the forecast period of 2022 to 2029 and is expected to reach USD 5,995.46 million by 2029.
Increase in the geriatric population is expected to drive the market's growth rate
Vision loss is a serious health concern for elderly people. The American Academy of Family Physicians estimates that by age 65, one in three people have an eye condition that impairs their vision. The number of old people is rising quickly. As a result, elderly folks have a greater need for cutting-edge glaucoma treatment methods. Consequently, the market is being driven by an increase in the population of elderly people.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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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
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of 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
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Market Players Covered
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AbbVie Inc. (U.K.), BVI (India), Ellex (Australia), Glaukos Corporation (U.S.), Johnson and Johnson (U.S.), Alcon (Switzerland), Microsurgical technology (U.S.), New World Medical (U.S.), Santen Pharmaceutical (Japan), Nova Eye Medical Limited (Australia), Belkin Vision (Israel), and Sight Scientific (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The global micro invasive glaucoma surgery (MIGS) devices market is segmented into product, target, surgery type, end user, and distribution channel.
- On the basis of product, the global micro invasive glaucoma surgery (MIGS) devices market is segmented into MIGS shunts, MIGS stents, and others.
In 2022, the MIGS stents segment is expected to dominate the global micro invasive glaucoma surgery (MIGS) devices market
The MIGS stents segment is expected to dominate the global micro invasive glaucoma surgery (MIGS) devices market with a 60.06% market share due to rise in glaucoma.
- On the basis of target, the global micro invasive glaucoma surgery (MIGS) devices market is segmented into the trabecular meshwork, suprachoroidal space, subconjunctival filtration, and reducing aqueous production. In 2022, the trabecular meshwork segment is expected to dominate the global micro invasive glaucoma surgery (MIGS) devices market with a 60.09% market share due to ineffective drug delivery witnessed in the glaucoma surgery.
- On the basis of surgery, the global micro invasive glaucoma surgery (MIGS) devices market is segmented into glaucoma in conjunction with cataract and stand-alone glaucoma. In 2022, glaucoma, in conjunction with the cataract segment, is expected to dominate the global micro invasive glaucoma surgery (MIGS) devices market with a 57.08% market share due to increase in demand for surgical devices.
- On the basis of end user, the global micro invasive glaucoma surgery (MIGS) devices market is segmented into hospital outpatient departments (hopd), ophthalmology clinics, ambulatory surgery centers (ASCS), and others.
In 2022, the hospital segment is expected to dominate the global micro invasive glaucoma surgery (MIGS) devices market
- In 2022, the hospital segment is expected to dominate the global micro invasive glaucoma surgery (MIGS) devices market with a 62.04% market share due to rising awareness about treatment devices.
- On the basis of distribution channel, the global micro invasive glaucoma surgery (MIGS) devices market is segmented into direct tenders and retail sales. In 2022, the direct tenders segment is expected to dominate the global micro invasive glaucoma surgery (MIGS) devices market with a 91.6% market share due to
Major Players
Data Bridge Market Research recognizes the following companies as the major micro invasive glaucoma surgery (MIGS) devices market players in micro invasive glaucoma surgery (MIGS) devices market are AbbVie Inc. (U.K.), BVI (India), Ellex (Australia), Glaukos Corporation (U.S.), Johnson and Johnson (U.S.), Alcon (Switzerland), Microsurgical technology (U.S.), New World Medical (U.S.), Santen Pharmaceutical (Japan), Nova Eye Medical Limited (Australia), Belkin Vision (Israel), and Sight Scientific (U.S.)
Market Development
- In January 2022, Glaukos announced the enrolment of the first patient in the Phase II clinical trial for dry eye conditions using GLK=301. Following the regulatory body's favorable clearance, this medication will aid the corporation in expanding its market.
- In January 2022, A unique minimally invasive glaucoma surgery (MIGS) tool called the Hydrus Microstent was acquired by Ivantis, which Alcon bought. Patients with open-angle glaucoma can lower eye pressure with the use of this surgical gadget. The company's portfolio in the eye surgery sector will improve as a result of this acquisition.
- In June 2020, a global action plan 2014 – 2019 was consistently adopted by the Member States at the World Health Assembly in 2013 as part of WHA resolution 66.4. The Right to Sight also adds a further dimension to ""universal access to comprehensive eye care services. This plan has an overall vision that restates VISION 2020.
Regional Analysis
Geographically, the countries covered in the micro invasive glaucoma surgery (MIGS) devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of 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
As per Data Bridge Market Research analysis:
North America is the dominant region in micro invasive glaucoma surgery (MIGS) devices market during the forecast period 2022 - 2029
In 2021, North America dominated the micro invasive glaucoma surgery (MIGS) devices market due to an increase in the prevalence of glaucoma and other eye problems in the area. The U.S. dominate the the micro invasive glaucoma surgery (MIGS) devices market in North American due to partnerships and acquisitions of significant market participants.
Asia-Pacific is estimated to be the fastest growing region in micro invasive glaucoma surgery (MIGS) devices market the forecast period 2022 - 2029
Asia-Pacific is expected to grow during the forecast period due to the increasing incidence of glaucoma across and increasing government initiatives to upsurge the awareness about inhibition of blindness and rising awareness regarding treatment of glaucoma with micro invasive surgical procedures.
COVID-19 Impact Analysis
The COVID-19 pandemic is a global public health emergency that is projected to have a detrimental impact on the market for micro invasive glaucoma surgery (MIGS) devices. Glaucoma specialists prefer the trabeculectomy procedure for glaucoma surgery. Prior to the COVID-19 epidemic, the iStent inject, followed by XEN and Preserflo, was the most frequently done MIGS device procedure in minimally invasive glaucoma surgery (MIGS). Although trabeculectomy is still the most common established glaucoma operation, the reduced number of postoperative visits and medications is being performed with fewer frequency during the COVID-19 epidemic. This will drive the demand of the market in the Post-COVID era as well.
For more detailed information about the surgical visualization products market report, click here – https://www.databridgemarketresearch.com/jp/reports/global-micro-invasive-glaucoma-surgery-migs-devices-market
