Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Global Minimally Invasive Glaucoma Surgery (MIGS) Devices Market Size, Share & Trends Analysis Report by Product (Valves, Glaucoma Drainage Implant), Surgery Method, End-use, Region, and Segment Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The global minimally invasive glaucoma surgery (MIGS) devices market size is anticipated to reach USD 781.2 million by 2030, registering a CAGR of 5.36% from 2024 to 2030. The substantial factors propelling market growth include increasing awareness about minimally invasive surgery, technological advancements, the expanding geriatric population, and the continuous development of healthcare infrastructure. 
An increasing number of medical device manufacturers are placing their focus on research and product development to introduce innovative products with greater precision and the potential to improve surgical outcomes. For instance, in August 2022, Glaukos received FDA clearance for the iStent infinite Trabecular Micro-Bypass System. The iStent Infinite is designed for use as a standalone procedure to lower elevated intraocular pressure (IOP) in patients with primary open-angle glaucoma that remains uncontrolled despite previous medical and surgical treatments.
The development of new procedures, such as minimally invasive glaucoma surgery (MIGS), creates new opportunities in the market. Healthcare professionals increasingly prefer minimally invasive surgeries since they offer advantages such as smaller incisions, rapid wound healing, reduced pain, and smaller or no surgical scars. Smaller incisions & lower scope of complications can significantly reduce the overall surgery cost. According to the National Library of Medicine (NCBI), approximately 40,000 MIGS surgical procedures were performed in patients diagnosed with glaucoma in 2018. This minimally invasive surgery can reduce hospital stays, lowering the chance of patients contracting hospital-acquired infections. Shorter hospital stays also enable patients to return to their normal lives quicker.
The growing geriatric population, which is more susceptible to developing glaucoma, is expected to significantly contribute to the growth of the minimally invasive glaucoma surgery devices market. For instance, according to a Statistics Canada report, in 2022, about 7.32 million people, accounting for 18.8% of the general population, were aged 65 and above in Canada. As the elderly population continues to expand, there is a higher prevalence of age-related eye conditions, with glaucoma being one of the most common. Furthermore, the rising incidence of diabetes globally is expanding the population of individuals with glaucoma. Diabetes is a widely recognized risk factor for the onset and advancement of glaucoma. For instance, according to the international diabetes federation, in 2021 there were about 366 million adults with diabetes the number is further estimated to reach 783 million by 2045. Thus, the aforementioned factors contribute to the market growth.
Minimally Invasive Glaucoma Surgery (MIGS) Devices Market Report Highlights
- Based on product, the glaucoma drainage implant segment dominated the market with a revenue share of over 33.18% in 2023. Moreover, the stent segment is anticipated to grow at the fastest CAGR during the forecast period
- Based on surgery method, the trabecular meshwork bypass segment held the largest market share in 2023. The Schlemm's canal implants segment is expected to grow at the fastest CAGR during the forecast period
- Based on end-use, the hospitals segment captured most of the market share in 2023. Patient safety and surgical success are given top priority at hospitals, thus boosting segment growth
- North America dominated the market with a revenue share of above 35% in 2023
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $539.6 Million |
| Forecasted Market Value (USD) by 2030 | $781.2 Million |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Minimally Invasive Glaucoma Surgery (MIGS) Devices Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Ancillary Market Outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.1.1. Rising geriatric population and prevalence of diabetes
3.2.1.2. Growing awareness regarding minimally invasive surgery method
3.2.1.3. Technological advancements
3.2.2. Market Restraint Analysis
3.2.2.1. Availability of alternative treatment methods
3.2.3. Market Opportunity Analysis
3.2.4. Market Challenge Analysis
3.3. Needle Holders Market Analysis Tools
3.3.1. Industry Analysis - Porter's
3.3.2. PESTEL Analysis
Chapter 4. Minimally Invasive Glaucoma Surgery (MIGS) Devices Market: Product Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Minimally Invasive Glaucoma Surgery (MIGS) Devices Market: Product Movement Analysis & Market Share, 2023 & 2030
4.3. Valves
4.4. Glaucoma drainage implant
4.5. Glaucoma tube shunts
4.6. Stents
4.7. Others
Chapter 5. Minimally Invasive Glaucoma Surgery (MIGS) Devices Market: Surgery Method Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. Minimally Invasive Glaucoma Surgery (MIGS) Devices Market: Surgery Method Movement Analysis & Market Share, 2023 & 2030
5.3. Trabecular meshwork bypass
5.4. Suprachoroidal space implants
5.5. Subconjunctival space implants
5.6. Schlemm's canal implants
5.7. Gonioscopy-assisted transluminal trabeculectomy
5.8. Endocyclophotocoagulation
Chapter 6. Minimally Invasive Glaucoma Surgery (MIGS) Devices Market: End-use Estimates & Trend Analysis
6.1. Segment Dashboard
6.2. Minimally Invasive Glaucoma Surgery (MIGS) Devices Market: End-use Movement Analysis & Market Share, 2023 & 2030
6.3. Hospitals
6.4. Ophthalmic clinics
6.5. Others
Chapter 7. Minimally Invasive Glaucoma Surgery (MIGS) Devices Market: Regional Estimates & Trend Analysis
7.1. Regional Outlook
7.2. Minimally Invasive Glaucoma Surgery (MIGS) Devices Market: Regional Movement Analysis & Market Share, 2023 & 2030
Chapter 8. Competitive Landscape
8.1. Key Company Profiles
- Glaukos
- Johnson & Johnson Vision
- AbbVie
- Corza Ophthalmology
- Carl Zeiss Meditec
- Katalyst Surgical
- Lumenis
- Ziemer Ophthalmic Systems
- Iridex.
For more information about this report visit https://www.researchandmarkets.com/r/2qtk31
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