Micro Invasive Glaucoma Surgery (MIGS) Devices Market is Grow at a CAGR of 33.3% is Expected to Reach the Value of USD 5,995.46 million by 2029
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An exceptional Micro Invasive Glaucoma Surgery (MIGS) Devices Market report is the most suitable solution for the business requirements in many ways. The report aids in achieving an extreme sense of evolving industry movements before the competitors. This market document also covers market overview, premium insights, key insights and company profiles in detail of the key market players. The best tools have been adopted to generate this report which is SWOT analysis and Porter’s Five Forces analysis. This market report is truly a key to achieve the new horizon of success. In a worldwide Micro Invasive Glaucoma Surgery (MIGS) Devices Market report, company profiles of the key market competitors are analysed with respect to company snapshot, geographical presence, product portfolio, and recent developments.
Data Bridge Market Research analyses that the micro invasive glaucoma surgery (MIGS) devices market which was USD 365.07 million in 2021, would rocket up to USD 1815.29 million by 2029, and is expected to undergo a CAGR of 22.20% during the forecast period 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Some of the major players operating in the micro invasive glaucoma surgery (MIGS) devices market are:
Glaukos Corporation (U.S)
Ivantis Inc. (U.S)
Allergan (Ireland)
Ellex (U.S)
Alcon (Switzerland), BVI (U.S)
Johnson and Johnson Surgical Vision Care Inc. (U.S)
Microsurgical technology (U.S)
Molteno Ophthalmic Ltd. (New Zealand)
New world Medical Inc. (U.S)
Santen Pharmaceutical Co., Ltd. (Japan)
Sight Scientific (U.S)
Bausch & Lomb Incorporated. (Canada)
NeoMedix Healthcare India Pvt. Ltd. (U.S)
IOPtima (Israel)
Market Analysis and Size
In recent years, minimally invasive glaucoma surgery (MIGS) has emerged as a viable treatment option for glaucoma. The only established treatment for glaucoma progression is to reduce intraocular pressure (IOP). Nonsurgical (topical medicines or laser therapy) and surgical methods have typically been used to accomplish this (trabeculectomy or glaucoma drainage devices).
Market Definition
The acronym micro invasive glaucoma surgery (MIGS) refers to micro invasive glaucoma surgery, a procedure used to treat glaucoma. It’s a game-changing advancement in the treatment of mild to moderate glaucoma. It is an alternative to the pharmaceuticals previously prescribed, and it also avoids the risks associated with traditional surgery. These techniques are intended to reduce the eye’s intraocular pressure in order to prevent optic nerve damage. When compared to traditional surgery, these techniques are far safer and have a much shorter recovery time.
Micro Invasive Glaucoma Surgery (MIGS) Devices Market Dynamics
Drivers
Increase in the geriatric population
The quick transition from glaucoma medicine to minimally invasive glaucoma procedures and the development of technologically improved products have increased demand for micro invasive glaucoma surgery (MIGS) devices compared to the previous year. Furthermore, demand for micro invasive glaucoma surgery (MIGS) devices has surged as a result of government measures to raise awareness about blindness prevention.
Increase in the occurrence of ophthalmic disorders
The global micro invasive glaucoma surgery (MIGS) equipment market is being driven by factors such as the growing geriatric population and the resulting blindness. The two most common age-related eye diseases, cataract and glaucoma, are the leading causes of blindness among the elderly. Furthermore, rising demand for combined glaucoma and cataract treatment due to technological advancements in devices and expanding patient awareness of minimally invasive operations are driving the growth of the micro invasive glaucoma surgery (MIGS) devices market.
Rising incidence of glaucoma across the world
Furthermore, the key companies in the ophthalmic treatment market are concentrating their efforts on developing a micro invasive glaucoma surgery (MIGS) devices stent for more successful therapy. As a result, demand for microinvasive glaucoma surgery (MIGS) devices is projected to rise.
Opportunities
The market is expected to rise due to an increase in the global elderly population, as well as an increase in the prevalence of glaucoma, a surge in demand for combined glaucoma and cataract procedures, and a shift in leading firms’ attention to the development of micro invasive glaucoma surgery (MIGS) devices stents. In addition, AbbVie purchased Allergan plc in 2019 for eye care products such as xen, durysta, ozurdex, and refresh/optive. With these significant improvements, regional players are aiming a foothold in the minimal invasive glaucoma surgery device market. When a result, as more micro invasive glaucoma surgery (MIGS) devices are adopted, the market grows.
Restraints/Challenges
The high cost of surgical operations is due to strict rules for micro invasive glaucoma surgery (MIGS) instruments. However, inadequate reimbursement and a scarcity of qualified and skilled practitioners are two issues that could stymie the global micro invasive glaucoma surgery (MIGS) devices market’s growth.
This micro invasive glaucoma surgery (MIGS) devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the micro invasive glaucoma surgery (MIGS) devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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COVID-19 Impact on Micro Invasive Glaucoma Surgery (MIGS) Devices Market
The COVID-19 pandemic is a global public health crisis that is expected to negatively influence the market for minimally invasive glaucoma surgery (MIGS) equipment. For glaucoma surgery, glaucoma specialists favour the trabeculectomy operation. The iStent inject, followed by XEN and Preserflo, was the most regularly performed micro invasive glaucoma surgery (MIGS) device operation prior to the COVID-19 pandemic in minimally invasive glaucoma surgery (MIGS). Although trabeculectomy is still the most common established glaucoma surgery, it is being performed with less frequency during the COVID-19 pandemic because of the reduced number of postoperative visits and treatments.
Recent Development
In April, 2020 Allergan plc announced the NMPA approval of Allergan’s XEN Gel Stent for the patients suffering from refractory glaucoma. As this is the first product to get the approval in china, it will lead to increased revenue generation.
Global Micro Invasive Glaucoma Surgery (MIGS) Devices Market Scope
The micro invasive glaucoma surgery (MIGS) devices market is segmented on the basis of target, product and end-user. The growth amongst these segments will help you analyze meagre 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.
Target
Trabecular Meshwork
Suprachoroidal Space
Others
Product
MIGS Stents
MIGS Shunts
OTHER (TRABECTOME/MICRO-IMPLANTS/MICRO-CATHETERS)
End-User
Eye Hospitals
Ophthalmology Clinics
Outpatient Surgical Centers
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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, target, product and end-user 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, 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.
North America is dominating the market because of the high adoption of micro invasive glaucoma surgery (MIGS) devices for the treatment of glaucoma in the region and North America as a result of an increase in research and development as well as clinical studies in the region Because of the increasing high adoption of micro invasive glaucoma surgery micro invasive glaucoma surgery (MIGS) devices for lowering IOP in difficult-to-treat patients, the United States is dominating the market and driving the growth in North America.
China is dominating Asia-Pacific market due to increasing incidence of glaucoma across and increasing government initiatives to increase awareness about inhibition of blindness and also growing awareness regarding treatment of glaucoma with micro invasive surgical procedures.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The micro invasive glaucoma surgery (MIGS) devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for micro invasive glaucoma surgery (MIGS) devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the micro invasive glaucoma surgery (MIGS) devices market. The data is available for historic period 2010-2020.
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