Data Bridge Market research has a newly released expansive study titled “Europe Micro Invasive Glaucoma Surgery (MIGS) Devices Market” which guarantees you will remain better informed than your competition. This study provides a broader perspective of the marketplace with its comprehensive market insights and analysis which eases survival and success in the market.
Data Bridge Market Research analyses that the micro invasive glaucoma surgery (MIGS) devices market is expected to reach the value of USD 5,995.5 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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Market Overview:
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. An increase in the population of geriatrics and increasing government initiatives for the prevention of blindness are expected to boost the market. Rapid transition from glaucoma medication to minimally invasive glaucoma surgeries might be creating opportunities for the manufacturer of MIGS devices. However, poor reimbursement facilities might act as an obstacle for the market.
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.
Recent Developments
- 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
The micro invasive glaucoma surgery (MIGS) devices market is segmented on the basis of product, target, surgery, end user, and distribution channel. The growth amongst these segments will help you analyze major 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.
Product
MIGS stents
MIGS shunts
Others
On the basis of product, the micro invasive glaucoma surgery (MIGS) devices market is segmented into MIGS shunts, MIGS stents, and others.
Target
Trabecular meshwork
Suprachoroidal space
Subconjunctival filtration
Reducing aqueous production
On the basis of target, the micro invasive glaucoma surgery (MIGS) devices market is segmented into the trabecular meshwork, suprachoroidal space, subconjunctival filtration, and reducing aqueous production.
Surgery
Glaucoma in conjunction with cataract
Stand-alone glaucoma
On the basis of surgery, the micro invasive glaucoma surgery (MIGS) devices market is segmented into glaucoma in conjunction with cataract and stand-alone glaucoma.
End User
Hospital outpatient departments (HOPD)
Ophthalmology clinics
Ambulatory surgery centers (ASCS)
Others
On the basis of end-user, the micro invasive glaucoma surgery (MIGS) devices market is segmented into hospital outpatient departments (HOPD), ophthalmology clinics, ambulatory surgery centers (ASCS), and others.
Distribution Channel
Direct tender
Retail sales
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.
Introduction of technological advanced product
Glaucoma is a severe eye disease that can lead to vision loss if not controlled. It generally does not lead to blindness as it can be controlled by modern treatment and many options for preventing further damage. With the increased scientific developments, there has been a revolutionary change in the treatment of glaucoma. With the advent of micro-invasive glaucoma surgery, there is a paradigm shift in medicine as it can help in the treatment of glaucoma at an early stage and avoid the dependency on filtration surgeries like trabeculectomy. This also overcomes the risks associated with these incisional surgeries. There are various advancements in the treatment of glaucoma with MIGS.
The complete Report is available (Including the full TOC, Tables, and Figures, Graphs as well as Chart) @ https://www.databridgemarketresearch.com/toc/?dbmr=europe-micro-invasive-glaucoma-surgery-migs-devices-market
Key Market Competitors Covered in the Report
Glaukos Corporation
Ivantis Inc.
Allergan
Ellex
Alcon
BVI
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
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios of the top players in the Medical Display market
Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
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