Minimally Invasive Glaucoma Surgery (MIGS) Devices Global Market Size, Trends, Growth, Opportunities 2024-2033 | AbbVie Inc., Novartis AG, Alcon Inc., Carl Zeiss Meditec AG, Lumenis Ltd.

The Business Research Company recently released a comprehensive report on the Global Minimally Invasive Glaucoma Surgery (MIGS) Devices Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The minimally invasive glaucoma surgery (MIGS) devices market size has grown exponentially in recent years. It will grow from $0.55 billion in 2023 to $0.70 billion in 2024 at a compound annual growth rate (CAGR) of 27.8%. The growth in the historic period can be attributed to increased awareness for the prevention of blindness, increased investments in healthcare infrastructure, increased patient awareness surrounding advanced corrective vision treatments, rise in awareness surrounding advanced corrective vision treatments, increased government initiatives.

The minimally invasive glaucoma surgery (MIGS) devices market size is expected to see exponential growth in the next few years. It will grow to $1.89 billion in 2028 at a compound annual growth rate (CAGR) of 28.2%. The growth in the forecast period can be attributed to increasing prevalence of eye disorders like glaucoma, rise in geriatric population, growing healthcare infrastructure, growing need for safer and more efficient treatment. Major trends in the forecast period include adoption of MIGS devices, advancements in technology, development of innovative minimally invasive glaucoma surgery devices, development of advanced implantable devices, advances in ophthalmic technology.

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Market Drivers and Trends:

The growing adoption of hybrid and multi-cloud infrastructure is expected to propel the growth of the integrated platform as a service (iPaaS) market going forward. Hybrid and multi-cloud infrastructure refers to an IT architecture that combines the use of on-premises data centers, private clouds, and multiple public cloud services, enabling organizations to leverage the benefits of different environments. Hybrid and multi-cloud infrastructure is highly adopted for its ability to enhance operational flexibility, optimize costs, and increase resilience by leveraging the strengths of multiple environments. Integrated platform as a service (iPaaS) facilitates seamless data integration and application connectivity across hybrid and multi-cloud infrastructure, ensuring efficient operations and leveraging the strengths of various cloud environments. For instance, in April 2023, according to a report by Flexera, a US-based computer software company, 87% of organizations adopted a multi-cloud, of which 72% adopted a hybrid cloud, 13% adopted multiple public clouds, and 2% a multiple private cloud in 2022. Additionally, the cloud spending by small and medium-sized businesses (SMBs) reflects a massive uptake with 52% of spending more than $1.2 million in 2022, up from 38% reported in 2021. Therefore, the growing adoption of hybrid and multi-cloud infrastructure is driving the growth of the Integrated Platform as a Service (iPaaS) market.

Major companies operating in the minimally invasive glaucoma surgery (MIGS) devices market are focused on developing innovative products, such as stent injectable systems, to address unmet needs in glaucoma management and improve patient outcomes. A stent injectable system is a minimally invasive glaucoma surgery (MIGS) device that delivers and implants a small stent into the body through an injection-like procedure, often using a specialized delivery mechanism that is commonly used in minimally invasive surgeries to treat conditions such as blocked or narrowed blood vessels. For instance, in August 2022, Glaukos Corporation, a US-based ophthalmic medical technology company, received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the iStent Infinite Trabecular Micro-Bypass System. The iStent Infinite is a novel three-stent injectable system designed to provide foundational, 24/7 intraocular pressure (IOP) control for patients with primary open-angle glaucoma (POAG) whose IOP is uncontrolled by prior medication and surgical therapy.

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Major Key Players of the Market:

AbbVie Inc., Novartis AG, Alcon Inc., Bausch Health Companies Inc., Bausch & Lomb Incorporated Inc., Carl Zeiss Meditec AG, Santen Pharmaceutical Co. Ltd., Johnson & Johnson Vision Care Inc., Lumenis Ltd., Staar Surgical Company, Glaukos Corporation, Sight Sciences Inc., Ocular Therapeutix Inc., Iridex Corporation, Ellex Medical Lasers Ltd., New World Medical Inc, MicroSurgical Technology Inc., Nova Eye Medical Limited, Asico LLC, Ziemer Ophthalmic Systems AG, Transcend Medical, iSTAR Medical SA, Ivantis Group Inc., Allergan, InnFocus Inc.

Minimally Invasive Glaucoma Surgery (MIGS) Devices Market 2024 Key Insights:

• The minimally invasive glaucoma surgery (MIGS) devices market size is expected to see exponential growth in the next few years. It will grow to $1.89 billion in 2028 at a compound annual growth rate (CAGR) of 28.2%.
• Rising Prevalence of Glaucoma Spurs Demand for Minimally Invasive Glaucoma Surgery (MIGS) Devices
• Innovative Advances In Minimally Invasive Glaucoma Surgery (MIGS) Devices Transforming Patient Care And Surgical Practice
• North America was the largest region in the minimally invasive glaucoma surgery (MIGS) devices market in 2023

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