The global micro invasive glaucoma surgery (MIGS) devices market is experiencing rapid growth, driven by the increasing prevalence of glaucoma and the rising demand for minimally invasive surgical procedures. MIGS devices are designed to reduce intraocular pressure (IOP) in glaucoma patients, thereby slowing the progression of the disease and preserving vision. These devices offer several advantages over traditional glaucoma surgeries, including faster recovery times, fewer complications, and reduced dependence on medications. Technological advancements in MIGS devices, such as the development of novel implantable stents and micro-scale surgical tools, are further driving market growth. Additionally, the growing elderly population worldwide, which is more susceptible to glaucoma, is fueling the demand for MIGS devices. The companies in the market focus on developing minimally invasive solutions for glaucoma management. These companies are investing in research and development to enhance their product offerings and expand their market presence, contributing to the overall growth of the MIGS Devices market.
Overall, the global MIGS Devices market is poised for significant growth, driven by technological advancements, an aging population, and a growing preference for minimally invasive surgical procedures. The market is highly competitive, with key players focusing on innovation to gain a competitive edge.
The Global Micro Invasive Glaucoma Surgery (MIGS) Devices Market size is projected to reach USD 5.99 billion by 2029, with a CAGR of 33.3% during the forecast period of 2024 to 2031.
Below are the Top Five Micro Invasive Glaucoma Surgery (MIGS) Devices Companies with a Significant Market Share:
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Company
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Overview
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Product Portfolio
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Sales Geographical Coverage
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Developments
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1.
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Glaukos Corporation
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Glaukos Corporation is a prominent player in the Micro Invasive Glaucoma Surgery (MIGS) Devices market, specializing in the development of innovative treatments for glaucoma. Founded in 1998, Glaukos is headquartered in San Clemente, California, USA. The company's mission is to transform the treatment of glaucoma by providing novel and effective solutions that improve patient outcomes. Glaukos is best known for its iStent Trabecular Micro-Bypass System, which is the first MIGS device approved by the FDA. The iStent is a tiny implant that is inserted into the eye during cataract surgery to improve the outflow of aqueous humor, thereby reducing intraocular pressure (IOP) in glaucoma patients. The iStent is designed to be safe, effective, and minimally invasive, offering patients a potentially better alternative to traditional glaucoma treatments. In addition to the iStent, Glaukos has developed other innovative products for the treatment of glaucoma, including the iStent inject Trabecular Micro-Bypass System and the iStent Supra Suprachoroidal Micro-Bypass System. These devices offer ophthalmologists additional options for managing IOP in glaucoma patients, further solidifying Glaukos' position as a leader in the MIGS Devices market.
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North America, Middle East and Africa, Europe, South America, Asia-Pacific
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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.
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2.
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alcon inc.
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Alcon, a division of Novartis, is a global leader in eye care, offering a wide range of products and services to help people see better. With a history dating back over 70 years, Alcon has established itself as a trusted name in the ophthalmic industry, known for its innovative solutions and commitment to improving vision health. In the Micro Invasive Glaucoma Surgery (MIGS) Devices market, Alcon offers the CyPass Micro-Stent, a minimally invasive device designed to reduce intraocular pressure (IOP) in glaucoma patients. The CyPass Micro-Stent is implanted during cataract surgery and helps to improve the outflow of aqueous humor, thereby lowering IOP and potentially reducing the need for glaucoma medications.
Alcon's focus on innovation and patient care has made it a key player in the market. The company is dedicated to developing new and improved treatments for glaucoma and other eye conditions, with a strong emphasis on improving patient outcomes and quality of life. With its extensive experience, global presence, and commitment to innovation, Alcon is well-positioned to continue leading the way in the MIGS Devices market, helping to improve the lives of millions of people suffering from glaucoma around the world.
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North America, Middle East and Africa, Europe, South America, Asia-Pacific
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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 the eye surgery segment.
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3.
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ABBVIE INC.
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AbbVie is a global biopharmaceutical company that plays a role in the eye care market through its acquisition of Allergan, which specializes in ophthalmic products, including MIGS devices. Allergan, now a part of AbbVie, is a key player in the MIGS Devices market. It is known for its Xen Gel Stent, a minimally invasive device used to reduce intraocular pressure (IOP) in glaucoma patients. The Xen Gel Stent is designed to improve the outflow of aqueous humor in the eye, helping to manage IOP and reduce the need for glaucoma medications.
AbbVie's acquisition of Allergan has strengthened its presence in the eye care market, allowing it to offer a broader range of products and services to patients with eye conditions such as glaucoma. With its commitment to innovation and improving patient outcomes, AbbVie, through its Allergan division, is well-positioned to continue making significant contributions to the MIGS Devices market.
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North America, Middle East and Africa, Europe, South America, Asia-Pacific
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In December 2021, AbbVie got FDA approval for VUITY™ (pilocarpine HCl ophthalmic solution) 1.25 eye drops to treat presbyopia. Presbyopia affects half of the adult U.S. population, and this eye drop will help treat the condition and boost the US market.
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Johnson & Johnson Surgical Vision, Inc.
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Johnson & Johnson Vision is a leading provider of ophthalmic products, including intraocular lenses, contact lenses, and surgical equipment used in procedures such as cataract surgery and glaucoma treatment. While specific MIGS devices may not be part of its current portfolio, Johnson & Johnson Vision's expertise and innovation in the eye care market make it a key player to watch in the field of glaucoma treatment. Johnson & Johnson, as a whole, is committed to advancing healthcare through innovation and collaboration. With its strong global presence and dedication to improving patient outcomes, Johnson & Johnson is well-positioned to continue making a significant impact in the MIGS Devices market and the broader field of eye care.
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North America, Middle East and Africa, Europe, South America, Asia-Pacific
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In November 2021, Johnson & Johnson Surgical Vision, Inc. announced that it would present a range of company-sponsored studies supporting innovations in its surgery portfolio at the 2021 American Academy of Ophthalmology (AAO) Annual Meeting in New Orleans, November 12-15, 2021. This helped increase awareness among healthcare professionals and paints about vision and surgery, which will help support growth.
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Santen Pharmaceutical Co., Ltd.
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Santen SA is a subsidiary of Santen Pharmaceutical, a Japanese company specializing in ophthalmic pharmaceuticals and devices. Santen SA operates in the European market and is known for its commitment to providing innovative solutions for eye care.
In the Micro Invasive Glaucoma Surgery (MIGS) Devices market, Santen SA offers the MicroShunt, a device designed to reduce intraocular pressure (IOP) in glaucoma patients. The MicroShunt is implanted in the eye to improve the outflow of aqueous humor, helping to manage IOP and reduce the need for glaucoma medications. Santen SA's focus on innovation and patient care has made it a key player in the MIGS Devices market. The company is dedicated to developing new and improved treatments for glaucoma and other eye conditions, with a strong emphasis on improving patient outcomes and quality of life.
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North America, Middle East and Africa, Europe, Asia-Pacific
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In March 2022, Santen, in partnership with the UCL Institute of Ophthalmology (IoO), announced the company's first external research laboratory in Europe. This research laboratory aims to investigate how to prevent and reverse damage caused to vision in patients with glaucoma. This increases R&D activities and will open up new opportunities for the company.
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Conclusion
The micro invasive glaucoma surgery (MIGS) devices market is witnessing significant growth and innovation, driven by key players such as Glaukos Corporation, Alcon (a division of Novartis), AbbVie (through its acquisition of Allergan), Johnson & Johnson Vision, and Santen SA. These companies offer a range of innovative devices designed to reduce intraocular pressure (IOP) in glaucoma patients through minimally invasive surgical procedures. Glaukos Corporation, with its iStent devices, has been a pioneer in the field, while Alcon's CyPass Micro-Stent and Allergan's Xen Gel Stent have also made notable contributions. Additionally, companies like Johnson & Johnson Vision and Santen SA have bolstered the market with their expertise in ophthalmic products. With a focus on innovation, patient care, and improving outcomes for glaucoma patients, these companies are driving the advancement of MIGS technology, shaping the future of glaucoma treatment.
