Minimally Invasive Glaucoma Surgery (MIGS) Devices Market (By Product: Valves, Glaucoma Drainage Implant; By Surgery Method; By End-use) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2024-2033

The global minimally invasive glaucoma surgery (MIGS) devices market was valued at USD 539.64 million in 2023 and it is predicted to surpass around USD 911.35 million by 2033 with a CAGR of 5.38% from 2024 to 2033.

Key Pointers

• North America led the overall market in 2023.
• Asia Pacific region is expected to grow at the fastest CAGR from 2024 to 2033.
• By Product, the glaucoma drainage implant segment held the largest market share of around 34% in 2023.
• By Product, the stent segment is anticipated to grow at the fastest CAGR during the forecast period.
• By Surgery Method, the trabecular meshwork bypass segment accounted for the largest revenue share in 2023.
• By Surgery Method, the schlemm’s canal implants segment is estimated to register the fastest CAGR between 2024 to 2033.
• By End-use, the hospitals segment dominated the market in 2023.
• By End-use, the ophthalmic clinic segment is expected to grow at the fastest CAGR over the forecast period. 

Minimally Invasive Glaucoma Surgery (MIGS) Devices Market Overview

The minimally invasive glaucoma surgery (MIGS) devices market is witnessing a transformative phase, driven by advancements in ophthalmic technology and a paradigm shift towards less invasive surgical interventions for glaucoma management. This market overview aims to provide a comprehensive snapshot of key aspects shaping the landscape of MIGS devices.

Market Minimally Invasive Glaucoma Surgery (MIGS) Devices Market Growth

The minimally invasive glaucoma surgery (MIGS) devices market is experiencing robust growth, driven by several key factors. Firstly, the escalating global incidence of glaucoma underscores the imperative for advanced and less invasive treatment modalities, positioning MIGS devices as a pivotal solution in meeting this demand. Technological advancements play a paramount role, as continuous innovation enhances the precision, safety, and efficacy of MIGS procedures. Patient preference for minimally invasive interventions, marked by reduced postoperative discomfort and expedited recovery, is another significant growth factor. Additionally, the aging global population, prone to an elevated risk of glaucoma, contributes to the expanding market. As stakeholders focus on refining MIGS device technologies and overcoming regulatory challenges, the market is poised for sustained growth, shaping the landscape of glaucoma management.

Report Scope of the Minimally Invasive Glaucoma Surgery (MIGS) Devices Market

Minimally Invasive Glaucoma Surgery (MIGS) Devices Market Dynamics

Drivers

• Increasing Global Prevalence of Glaucoma: The escalating incidence of glaucoma on a global scale is a primary driver for the minimally invasive glaucoma surgery (MIGS) devices market. As a chronic eye condition leading to irreversible vision loss, the demand for advanced and minimally invasive treatment options has surged.
• Technological Advancements in MIGS Devices: Continuous innovations in MIGS device technology contribute significantly to market growth. These advancements aim to enhance the precision, safety, and overall efficacy of glaucoma surgeries, positioning MIGS as a cutting-edge solution in the field.

Restraints

• Regulatory Complexities and Approval Processes: The MIGS market faces challenges related to regulatory complexities and approval processes. Navigating the stringent regulatory landscape can be time-consuming and resource-intensive for manufacturers, potentially delaying the market entry of new devices.
• Learning Curve for Healthcare Professionals: The adoption of MIGS procedures involves a learning curve for healthcare professionals. Surgeons and medical staff need to familiarize themselves with new techniques and technologies, which may slow down the integration of MIGS devices into routine clinical practices.

Opportunities

• Integration of Digital Technologies: The integration of digital technologies, including artificial intelligence (AI) and data analytics, into MIGS devices represents a promising opportunity. Smart, data-driven solutions have the potential to enhance surgical precision, postoperative monitoring, and overall patient outcomes.
• Global Market Penetration: There is ample room for global market penetration, with opportunities to introduce MIGS devices in regions where glaucoma prevalence is high but access to advanced treatments is limited. Collaborations and partnerships can facilitate the transfer of technology and expertise to underserved markets.

Product Insights

The glaucoma drainage implant segment held the largest market share of around 34% in 2023. Glaucoma drainage implants are very efficient as it is a viable surgical approach to address glaucoma. These devices are typically suggested when alternative treatments like medications and laser therapy prove insufficient in managing the condition. These implants help in improved surgical techniques, targeted medication delivery, and patient comfort. The Ahmed Glaucoma Valve (AGV), Baerveldt Glaucoma Implant, Molteno Implant, Krupin Valve, and other glaucoma drainage devices are a few examples of the numerous types of glaucoma drainage devices available.

The stent segment is anticipated to grow at the fastest CAGR during the forecast period. The purpose of these stents is to establish an alternative route for the drainage of aqueous humor, the fluid present within the eye, to lowering intraocular pressure (IOP). However, the stent is not suitable for all glaucoma patients. The decision regarding treatment options, including the use of the stent, is based on an individual's particular condition, and the type of glaucoma they have.

Surgery Method Insights

The trabecular meshwork bypass segment accounted for the largest revenue share in 2023. In cases of glaucoma, the trabecular meshwork may become obstructed or less effective, resulting in elevated intraocular pressure (IOP). This increased pressure can harm the optic nerve and lead to vision loss. Bypassing the trabecular meshwork offers numerous advantages and applications in the treatment and management of glaucoma, such as lowering intraocular pressure, and preserving optic nerve health. This segment is further sub-segmented as stent placement and by tissue excision, in which the stent placement segment dominated the segment in 2023.

Schlemm’s canal implants segment is estimated to register the fastest CAGR during the forecast period. Schlemm's canal implants, also recognized as micro-invasive glaucoma surgery (MIGS) devices that focus on Schlemm's canal, constitute a group of surgical procedures tailored to address intraocular pressure (IOP) in individuals with glaucoma. These implants are utilized to establish a fresh route for the drainage of aqueous humor, the transparent fluid within the eye, by utilizing Schlemm's canal, an integral part of the eye's natural drainage system.

End-use Insights

Based on end-use, the hospitals segment dominated the market in 2023. Ophthalmic surgeries are commonly performed by well-trained surgical teams within hospital environments, consisting of both inpatient and outpatient settings. Hospitals provide a controlled, sterile environment that is highly conducive to such surgeries. To ensure the successful and safe execution of these operations, surgeons, anesthesiologists, nurses, and other medical specialists collaborate within the hospital setting. Hospitals are also known for adhering to strict regulatory and safety standards, thereby guaranteeing a high level of patient safety during ophthalmic surgeries. This assurance is beneficial for both patients and surgeons. Moreover, hospitals are equipped to handle any potential complications and offer comprehensive care to patients undergoing glaucoma surgery. Thus, all these factors contribute to the segment growth.

The ophthalmic clinic segment is expected to grow at the fastest CAGR over the forecast period. Ophthalmic clinics provide several benefits, including convenience, and shorter waiting periods, and are patient-centric, leading to increased patient satisfaction. Moreover, these clinics are often more cost-effective due to their reduced overhead expenses, potentially making eye surgeries more accessible and affordable for patients. The specialized concentration on eye care within these clinics allows for a higher level of expertise and precision in the field. In addition, outpatient settings may lower the risk of hospital-acquired infections, making them a preferred choice for surgeries that can be safely performed outside of a hospital.

Regional Insights

North America dominated the overall market in 2023. The significant factors driving the regional market growth include the rapidly expanding geriatric population and the increasing incidence of glaucoma. Furthermore, the adoption of reimbursement models for ophthalmic care and the implementation of stringent regulatory measures focused on ensuring patient safety are anticipated to stimulate the demand for ophthalmic devices in this region. Also, the presence of key market players in the region involved in developing advanced products is expected to boost the regional market growth.

U.S. dominated the market in North America region. The presence of key market players in the country, a favorable reimbursement scenario that provides access to healthcare services to a large portion of the population, and the presence of skilled healthcare professionals in the country are among the major factors contributing to the market growth.

Asia Pacific region is expected to grow at the fastest CAGR during the forecast period. This growth is primarily attributed to several factors, including the advancements in healthcare infrastructure, the increasing prevalence of eye disorders like glaucoma, and growing patient awareness in the region. In addition, the growth can be linked to the growing outsourcing activities for ophthalmology devices by major industry players like Alcon, Inc. Furthermore, the growing awareness surrounding advanced corrective vision treatments plays a pivotal role in the expansion of emerging economies, particularly in countries such as China and India.

In 2023, China held the greatest share of the Asia Pacific region's market for minimally invasive glaucoma surgery devices. In China, the regulatory process for product approvals is less stringent, allowing innovative products to enter the market more easily. Furthermore, the availability of resources enables innovations in technology at lower costs, resulting in an expansion in the number of manufacturing facilities in the country.

Minimally Invasive Glaucoma Surgery (MIGS) Devices Market Key Companies 

• Alcon, Inc.
• Glaukos Corporation.
• Johnson & Johnson Vision
• AbbVie Inc. (Allergan Plc.)
• Corza Ophthalmology
• Carl Zeiss Meditec AG
• Katalyst Surgical
• Lumenis Ltd
• Ziemer Ophthalmic Systems AG
• Iridex Corporation

Recent Developments

• In November 2023, J&J Surgical Vision, Inc. and Alcon, Inc. entered into a settlement agreement to resolve their pending legal proceedings associated with femtosecond laser-supported cataract surgery devices.
• In August 2023, Glaukos Corporation received FDA 510 (k) clearance for its product iStent Infinite'. The product is used in a standalone procedure to reduce elevated Intraocular Pressure (IOP) in patients with primary open-angle glaucoma.
• In November 2022, Alcon, Inc. acquired Ivantis, Inc. to develop, manufacture, and sell high-quality Minimally Invasive Glaucoma Surgery (MIGS) devices.

Minimally Invasive Glaucoma Surgery (MIGS) Devices Market Report Segmentations:

By Product

• Valves
• Glaucoma Drainage Implant
• Glaucoma Tube Shunts
• Stents
• Others

By Surgery Method

• Trabecular Meshwork Bypass
  • By Stent Placement
  • By Tissue Excision
• Suprachoroidal Space Implants
• Subconjunctival Space Implants
• Schlemm’s Canal Implants
• Gonioscopy-assisted Transluminal Trabeculectomy
• Endocyclophotocoagulation

By End-use

• Hospitals
• Ophthalmic Clinics
• Others Surgical Centers

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)