Global Minimally Invasive Glaucoma Surgery (MIGS) Devices Market Size Likely to Expand at a CAGR of 6.2% By 2033

As per the current market research conducted by the CMI Team, the global Minimally Invasive Glaucoma Surgery (MIGS) Devices Market size is expected to record a CAGR of 6.2% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 511.5 Million. By 2033, the valuation is anticipated to reach USD 871.5 Million.

Minimally Invasive Glaucoma Surgery (MIGS) Devices Market: Growth Factors and Dynamics

• Increasing Prevalence of Glaucoma: The rising number of glaucoma cases globally is a significant driver for the MIGS devices market. With glaucoma being one of the leading causes of irreversible blindness, there is a growing demand for effective and less invasive treatment options.

• Technological Advancements: Continuous innovations in MIGS devices, such as the development of novel stents, shunts, and microcatheters, enhance surgical outcomes and patient safety. These advancements make MIGS procedures more effective and appealing to both patients and healthcare providers.

• Growing Geriatric Population: The aging population is more susceptible to glaucoma, thereby increasing the demand for MIGS procedures. As the proportion of elderly individuals rises, the market for glaucoma treatment, including MIGS, is expected to expand correspondingly.

• Patient Preference for Minimally Invasive Procedures: Patients are increasingly opting for minimally invasive procedures due to benefits such as reduced recovery times, fewer complications, and less post-operative discomfort. This shift in patient preference is propelling the demand for MIGS devices.

• Supportive Government Initiatives and Healthcare Policies: Many governments and healthcare organizations are implementing policies and initiatives to improve the diagnosis and treatment of glaucoma. Funding for research and development, along with favorable reimbursement policies, is fostering the growth of the MIGS devices market.

• Rising Awareness and Early Diagnosis: Enhanced awareness about glaucoma and the importance of early diagnosis are contributing to the market growth. Public health campaigns and educational programs are encouraging regular eye check-ups, leading to early detection and increased adoption of MIGS procedures for early-stage glaucoma management.

• Increasing Adoption by Ophthalmologists: Ophthalmologists are increasingly adopting MIGS procedures due to their efficacy and safety profile. Training programs and professional endorsements from leading ophthalmic organizations are boosting confidence among surgeons, leading to higher adoption rates of MIGS devices.

• Growing Investment in R&D: Significant investments in research and development by key market players are driving innovation in the MIGS devices market. These investments are resulting in the introduction of advanced products and techniques, which enhance the effectiveness and reliability of MIGS procedures, thereby attracting more patients and healthcare providers.

Minimally Invasive Glaucoma Surgery (MIGS) Devices Market: Partnership and Acquisitions

• In 2022, Alcon, Inc. acquired Ivantis, Inc. to advance the development, manufacturing, and commercialization of high-quality Minimally Invasive Glaucoma Surgery (MIGS) devices. This acquisition strengthens Alcon’s position in the growing MIGS market segment.

• In 2023, Glaukos Corporation received FDA 510(k) clearance for iStent Infinite, allowing its standalone use to lower elevated intraocular pressure (IOP) in patients suffering from primary open-angle glaucoma, marking a significant advancement in glaucoma treatment options.

Report Scope

Minimally Invasive Glaucoma Surgery (MIGS) Devices Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the Minimally Invasive Glaucoma Surgery (MIGS) Devices Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Disruption of Elective Procedures: The COVID-19 pandemic led to the postponement and cancellation of elective surgeries, including minimally invasive glaucoma surgeries. This resulted in a significant decline in the demand for MIGS devices as healthcare facilities prioritized urgent and COVID-related treatments.

• Supply Chain Interruptions: The pandemic caused disruptions in global supply chains, affecting the production and distribution of MIGS devices. Manufacturing delays, logistical challenges, and shortages of raw materials and components hindered the market’s growth during the peak of the pandemic.

• Resumption of Elective Surgeries: With the decline in COVID-19 cases and the easing of lockdown restrictions, healthcare facilities have resumed elective procedures, including MIGS. This resumption is driving the recovery of the MIGS devices market as patient backlogs are addressed.

• Telemedicine and Remote Consultations: The adoption of telemedicine during the pandemic has improved patient monitoring and follow-up care. This has facilitated early diagnosis and management of glaucoma, leading to a gradual increase in the demand for MIGS procedures as patients return to in-person visits.

• Increased Healthcare Spending: Governments and healthcare organizations are increasing investments in healthcare infrastructure and services post-pandemic. Enhanced funding and resources are being allocated to ophthalmology departments, which supports the growth and recovery of the MIGS devices market.

• Adaptation to New Norms: The healthcare industry has adapted to new safety protocols and infection control measures, ensuring that elective surgeries can be performed safely. These adaptations have restored patient confidence in undergoing MIGS procedures, contributing to market recovery.

• Continued Technological Advancements: The ongoing research and development efforts in MIGS technology have continued despite the pandemic. New product launches and innovations are expected to drive market growth, attracting both healthcare providers and patients with improved and safer surgical options.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Minimally Invasive Glaucoma Surgery (MIGS) Devices Market, with some challenges and opportunities arising from the pandemic.

List of the prominent players in the Minimally Invasive Glaucoma Surgery (MIGS) Devices Market:

• Alcon Inc.
• Allergan (a part of AbbVie Inc.)
• Glaukos Corporation
• Ivantis Inc.
• New World Medical Inc.
• Ellex Medical Lasers Ltd. (part of Lumibird Group)
• Santen Pharmaceutical Co. Ltd.
• Johnson & Johnson Vision (a subsidiary of Johnson & Johnson)
• Sight Sciences Inc.
• MicroSurgical Technology (MST)
• iStar Medical SA
• Nova Eye Medical Limited
• MediWorks Precision Instruments
• Carl Zeiss Meditec AG
• NeoMedix Corporation
• Others

The Minimally Invasive Glaucoma Surgery (MIGS) Devices Market is segmented as follows:

By Surgery

• Glaucoma in Conjunction with Cataract
• Stand Alone Glaucoma

By Target

• Trabecular Meshwork
• Suprachoroidal Space
• Others

By Product

• MIGS Stents
• MIGS Shunts
• Others

By End Users

• Eye Hospitals
• Ophthalmology Clinics
• Outpatient Surgical Centers
• Others

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America