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Global Minimally Invasive Glaucoma Surgery (MIGS) Devices Market Projected to Grow at 26.5% CAGR, Reaching $2.29 Billion by 2029
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.What Will the Minimally Invasive Glaucoma Surgery (MIGS) Devices Industry Market Size Be by 2025?
The market size for minimally invasive glaucoma surgery (migs) devices has seen a significant increase in recent years. The market is projected to expand from $0.7 billion in 2024 to $0.89 billion in 2025, with a compound annual growth rate (CAGR) of 27.6%. The remarkable growth during the historic period can be traced back to heightened awareness for blindness prevention, escalated health infrastructure investments, a heightened understanding among patients about advanced corrective vision treatments, as well as increased governmental initiatives.
What's the Long-Term Growth Forecast for the Minimally Invasive Glaucoma Surgery (MIGS) Devices Market Size Through 2029?
The market for Minimally Invasive Glaucoma Surgery (MIGS) devices is anticipated to witness a significant surge in the foroming years, reaching a valuation of $2.29 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 26.5%. The predicted growth in the said period is due to the rising incidences of ocular conditions, such as glaucoma, an expanding elderly population, improved healare facilities, and the escalating demand for more secure and effective treatment methods. Key trends that will be observed during the forecast period encompass the increased use of MIGS devices, technological advancements, the invention of inventive minimally invasive glaucoma surgery devices, the launch of sophisticated implantable devices, and progress in eye care technology.
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What Are the Key Growth Drivers Fueling the Minimally Invasive Glaucoma Surgery (MIGS) Devices Market Expansion?
The growing occurrence of eye-related disorders is anticipated to drive the expansion of the minimally invasive glaucoma surgery (MIGS) devices in future. Various factors such as lifestyle alterations, environmental impacts, and aging demographics are contributing to the increased incidence of eye-related conditions that impair vision. Minimally invasive glaucoma surgery (MIGS) devices serve as innovative instruments in treating different eye diseases. Their primary function is to help in the reduction of intraocular pressure (IOP), which aids in the prevention or management of glaucoma progression. For example, the National Eye Institute, a U.S.-based government body, forecasts that by 2030, approximately 2.2 million Americans will be either entirely or partially sightless. Consequently, the upsurge in eye disorders is encouraging the growth of the minimally invasive glaucoma surgery (MIGS) devices market.
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What Are the Key Trends Driving Minimally Invasive Glaucoma Surgery (MIGS) Devices Market Growth?
A focus on developing innovative products, such as stent injectable systems, is a characteristic of key businesses operating in the minimally invasive glaucoma surgery (MIGS) gadgets market. These emerging systems, which are MIGS devices, deliver and embed a tiny stent in the body via a method akin to injection. They often employ a specialized delivery mechanism mostly used in minimally invasive surgeries for treating conditions like blocked or narrowed blood vessels. For instance, in August 2022, Glaukos Corporation, a company based in the USA that specializes in ophthalmic medical technology, was granted 510(k) clearance by the U.S. Food and Drug Administration (FDA) for introducing the iStent Infinite Trabecular Micro-Bypass System. This new three-stent injectable system, known as iStent Infinite, is aimed at providing constant intraocular pressure (IOP) control for primary open-angle glaucoma (POAG) patients who haven't found relief from earlier medication or surgical therapy.
How Is the Minimally Invasive Glaucoma Surgery (MIGS) Devices Market Segmented?
The minimally invasive glaucoma surgery (migs) devices market covered in this report is segmented -
1) By Product: Valves, Glaucoma Drainage Implant, Glaucoma Tube Shunts, Stents, Other Products
2) By Surgery: Glaucoma In Conjunction With Cataract, Stand Alone Glaucoma
3) By Target: Trabecular Meshwork, Suprachoroidal Space, Other Targets
4) By Distribution Channel: Direct Tender, Retail Sales
5) By End User: Ophthalmology Clinics, Ambulatory Surgery Centers (ASCS), Other End Users
Subsegments:
1) By Valves: Micro Shunt Valves, Non-penetrating Valves
2) By Glaucoma Drainage Implant: Scleral Drainage Implants, Subconjunctival Drainage Implants
3) By Glaucoma Tube Shunts: Ahmed Tube Shunt, Baerveldt Tube Shunt
4) By Stents: Ab-Interno Stents, Ab-Externo Stents
5) By Other Products: Cyclodestructive Devices, Trabecular Bypass Devices
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Which Companies Are Leading the Charge in Minimally Invasive Glaucoma Surgery (MIGS) Devices Market Innovation?
Major companies operating in the minimally invasive glaucoma surgery (MIGS) devices market are 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.
Which Regions Are Leading the Global Minimally Invasive Glaucoma Surgery (MIGS) Devices Market in Revenue?
North America was the largest region in the minimally invasive glaucoma surgery (MIGS) devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the minimally invasive glaucoma surgery (MIGS) devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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