Micro Invasive Glaucoma Surgery (MIGS) Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

Micro Invasive Glaucoma Surgery Device Market By Product (Micro Invasive Glaucoma Surgery Stent, Tube Shunt, And Others), Type (Trabecular Meshwork Bypass, Schlemm’s Canal Micro Invasive Glaucoma Surgery Devices, Suprachoroidal Micro Invasive Glaucoma Surgery Devices, And Subconjunctival Micro Invasive Glaucoma Surgery Devices), End-User (Hospitals, Ophthalmic Clinics, And Ambulatory Surgical Centers), And Geography (North America, Europe, Asia-Pacific, And Rest Of The World) are expected to grow at a steady CAGR forecast till 2030 owing to the rising prevalence of glaucoma, increasing lifestyle disorders such as diabetes & hypertension, and technical innovation in product development across the globe.

The Micro Invasive Glaucoma Surgery (MIGS) Device market was valued at USD 406.55 million in 2023, growing at a CAGR of 13.34% during the forecast period from 2024 to 2030 to reach USD 972.26 million by 2030. The demand for micro invasive glaucoma surgery devices is primarily being boosted by the growing prevalence of glaucoma. Furthermore, the increasing lifestyle disorders such as diabetes and hypertension doubles the chances of causing glaucoma leading to vision loss and blindness, thereby boosting the market of micro invasive glaucoma surgery devices. Additionally, increasing technical innovation in product development such as less invasiveness and more effectiveness are some of the other key drivers that are responsible for contributing to the positive growth of the micro invasive glaucoma surgery device market during the forecast period from 2024 to 2030.

Micro Invasive Glaucoma Surgery Device Market Dynamics:

According to the recent updates provided by the Glaucoma Research Foundation (2022), states that there are about 80 million people living with glaucoma.

Additionally, to the latest facts provided by the World Glaucoma Association reports in 2020 globally there were approximately 79.6 million people diagnosed with glaucoma, with projections indicating that these stats will surge to 111.8 million by 2040. Alarmingly, in developed countries, up to 90% of cases go undiagnosed, and half of those affected are unaware of their condition. Glaucoma, often symptomless, is a major cause of irreversible blindness globally. By 2040, more than 11 million individuals are expected to experience bilateral blindness due to this condition. Hence, the increasing prevalence of glaucoma is expected to fuel the overall future market of micro invasive glaucoma surgery devices across the globe as micro invasive glaucoma surgery devices offer a minimally invasive alternative to traditional glaucoma surgeries, making them an attractive option for many patients and healthcare professionals thereby boosting the market.

Further, the continuous product approvals with advancements in micro invasive glaucoma surgery devices are driving the overall market of micro invasive glaucoma surgery devices. For instance, in November 2021, iSTAR Medical, received European market approval for glaucoma implant MINIject designed to significantly reduce IOP by enhancing aqueous humor outflow from the anterior chamber to the suprachoroidal space.
However, the risk of postoperative complications such as bleeding and the availability of alternative treatment methods such as laser treatment and others may hinder the market demand of micro invasive glaucoma surgery devices.

Micro Invasive Glaucoma Surgery Device Market Segment Analysis:

Micro Invasive Glaucoma Surgery (MIGS) Device Market by Product (Micro Invasive Glaucoma Surgery Stent, Tube Shunt, and Others), Type (Trabecular Meshwork Bypass, Schlemm’s Canal Micro Invasive Glaucoma Surgery Devices, Suprachoroidal Micro Invasive Glaucoma Surgery Devices, and Subconjunctival Micro Invasive Glaucoma Surgery Devices), End-User (Hospitals, Ophthalmic Clinics, and Ambulatory Surgical Centers), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product segment of the micro invasive glaucoma surgery device market, the micro invasive glaucoma surgery stent is estimated to have a significant revenue share in the micro invasive glaucoma surgery device market in 2023. This can be attributed to the various advantages and applications provided by the micro invasive glaucoma surgery stent. Micro invasive glaucoma surgery stents require only small incisions to implant, minimizing trauma to the eye. This results in faster healing times, less postoperative discomfort, and reduced risk of complications compared to traditional glaucoma surgeries such as trabeculectomy or tube shunt implantation. Micro invasive glaucoma surgery stents like the iStent inject or the Hydrus Microstent are designed to enhance the natural outflow pathways of aqueous humor, either through the trabecular meshwork, Schlemm’s canal, or the suprachoroidal space. This targeted approach can effectively reduce IOP (Intraocular pressure) to desired levels. Micro invasive glaucoma surgery stents can significantly lower or even eliminate the need for daily glaucoma medications, improving patient adherence and quality of life. This is particularly beneficial for elderly patients or those with difficulty managing complex medication regimens.
Moreover, the rising product approvals with increased technological innovations will also contribute to the growth of the micro invasive glaucoma surgery stents market thereby boosting the overall market of micro invasive glaucoma surgery devices. For instance, in August 2022, Glaukos obtained FDA clearance for its iStent Infinite Trabecular Micro-Bypass System. This device is intended to be used as a standalone procedure to reduce elevated intraocular pressure (IOP) in patients with primary open-angle glaucoma that persists despite prior medical and surgical interventions.

Hence, all the factors mentioned above are promoting the growth of micro invasive glaucoma surgery stents and thereby boosting the overall market growth of micro invasive glaucoma surgery device during the forecast period.

North America Is Expected To Dominate The Overall Micro Invasive Glaucoma Surgery Device Market:

North America is expected to account for the highest proportion of the micro invasive glaucoma surgery device market in 2023, out of all regions. This domination is due to the increasing cases of glaucoma. Additionally, growing lifestyle disorders such as diabetes and hypertension, increasing regulatory approvals and product launch activities are expected to aid in the growth of the North America micro invasive glaucoma surgery devices market during the forecast period of 2024 to 2030.

According to the recent facts published by Glaucoma Research Foundation (2023), states that “People with diabetes are twice as likely to develop glaucoma, especially open-angle glaucoma. The risk increases with the duration of diabetes, making diabetics 48% more likely to develop glaucoma over two decades.” Additionally, as per the data provided by the Centers for Disease Control and Prevention (CDC) (2023), in 2021, in the United States, among people with diabetes, the prevalence rate of diabetes retinopathy was 13% among people younger than age 25 and 28.4% among the people between the age group of 65-79. Thus, patients diagnosed with diabetic retinopathy are often monitored more closely for other eye conditions, including glaucoma. This increased vigilance can lead to higher detection rates of glaucoma, thereby driving demand for micro invasive glaucoma surgery devices.
According to the recent updates provided by Glaucoma Research Foundation (2022), approximately more than 3 million had glaucoma in the United States and about half of the population do not even know about it. Additionally, according to the latest data provided by the Centers for Disease Control and Prevention (CDC) (2020), glaucoma affects approximately 3 million Americans and ranks as the second leading cause of blindness. As per the same source the number of glaucoma patients is expected to rise to 6.3 million by 2050 in the United States. As a result, these statistics and data are expected to fuel the future market of micro invasive glaucoma surgery devices in North America as more patients seek treatment and more ophthalmologists adopt these advanced techniques, the market for micro invasive glaucoma surgery devices is expected to expand rapidly.

Another factor responsible for the growth of the micro invasive glaucoma surgery devices market is the rising regulatory product approvals of innovative devices. For instance, in May 2021, Santen Canada Inc., a subsidiary of Santen Pharmaceutical Co., a global company focused on developing ophthalmology products, received Health Canada approval for PRESERFLOTM MicroShunt. This surgical device helps drain eye fluid and reduce intraocular pressure (IOP) in patients with POAG (Primary open angle glaucoma).
Thus, increasing product approval and product launches in the North American market may drive the product demand in the market, thus leading to the growth of the micro invasive glaucoma surgery devices market in North America.

Micro Invasive Glaucoma Surgery Device Market Key Players:

Some of the key market players operating in the micro invasive glaucoma surgery device include Glaukos Corporation, Santen Pharmaceutical Co.,Ltd., AbbVie Inc., Alcon Inc., NovaEye Medical Limited, iSTAR Medical SA, Rheon Medical SA, Advanced Ophthalmic Innovations Pte Ltd., New World Medical Inc., Aurolab, and others.

Recent Developmental Activities In The Micro Invasive Glaucoma Surgery Device Market:

• In October 2022, Alcon, the world leader in eye care committed to enabling people to see brilliantly, announced the completion of its previously announced acquisition of Ivantis®, maker of the ground-breaking Hydrus® Microstent, a minimally invasive glaucoma surgery (micro invasive glaucoma surgery) tool intended to reduce eye pressure for open-angle glaucoma patients in conjunction with cataract surgery.
• In May 2021, Glaukos Corporation entered into a new development and commercialization license agreement with Santen Pharmaceutical Co., Ltd. (Santen) for the PRESERFLO™ MicroShunt (development code: DE-128). The former company has also obtained exclusive commercialization rights for the MicroShunt in the United States, Australia, New Zealand, Canada, Brazil, Mexico, and the remainder of Latin America.
• In April 2020, Allergan Plc., now a subsidiary of AbbVie Inc., received product approval from China's National Medical Products Administration (NMPA) for XEN® Gel Stent for the surgical management of patients with refractory glaucoma through the Real World Evidence pathway.

Key Takeaways From The Micro Invasive Glaucoma Surgery Device Market Report Study

• Market size analysis for current micro invasive glaucoma surgery device market size (2023), and market forecast for 6 years (2024 to 2030).
• Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years.
• Key companies dominating the global micro invasive glaucoma surgery device market.
• Various opportunities available for the other competitors in the micro invasive glaucoma surgery device market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current micro invasive glaucoma surgery device market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for micro invasive glaucoma surgery device market growth in the coming future?

Target Audience Who Can Be Benefited From This Micro Invasive Glaucoma Surgery Device Market Report Study

• Micro invasive glaucoma surgery device product providers.
• Research organizations and consulting companies.
• Micro invasive glaucoma surgery device-related organizations, associations, forums, and other alliances.
• Government and corporate offices.
• Start-up companies, venture capitalists, and private equity firms.
• Distributors and Traders dealing in micro invasive glaucoma surgery device.
• Various end-users who want to know more about the micro invasive glaucoma surgery device market and the latest technological developments in the micro invasive glaucoma surgery device market.

Frequently Asked Questions For The Micro Invasive Glaucoma Surgery Device Market:

1. What are micro invasive glaucoma surgery devices?

Micro invasive glaucoma surgery (MIGS) devices are a category of minimally invasive surgical instruments and implants designed to lower intraocular pressure (IOP) in patients with glaucoma. These devices aim to improve the outflow of aqueous humor from the eye, thereby reducing the pressure inside the eye and preventing optic nerve damage.

2. What is the market for micro invasive glaucoma surgery devices?

The Micro Invasive Glaucoma Surgery (MIGS) Device market was valued at USD 406.55 million in 2023, growing at a CAGR of 13.34% during the forecast period from 2024 to 2030 to reach USD 972.26 million by 2030.

3. What are the drivers for the global micro invasive glaucoma surgery device market?

The demand for micro invasive glaucoma surgery devices is primarily being boosted by the growing prevalence of glaucoma. Furthermore, the increasing lifestyle disorders such as diabetes and hypertension can cause glaucoma leading to diabetic retinopathy and endothelial dysfunction thereby boosting the market of micro invasive glaucoma surgery devices. Additionally, technical innovation in product development such as less invasiveness, more effectiveness, and easier performance are some of the other key drivers that are responsible for contributing to the positive growth of the micro invasive glaucoma surgery device market during the forecast period from 2024 to 2030.

4. Who are the key players operating in the global micro invasive glaucoma surgery device market?

Some of the key market players operating in the micro invasive glaucoma surgery device include Glaukos Corporation, Santen Pharmaceutical Co.,Ltd., AbbVie Inc., Alcon Inc., NovaEye Medical Limited, iSTAR Medical SA, Rheon Medical SA, Advanced Ophthalmic Innovations Pte Ltd., New World Medical Inc., Aurolab, and others.

5. Which region has the highest share in the global micro invasive glaucoma surgery device market?

North America is expected to account for the highest proportion of the micro invasive glaucoma surgery device market in 2023, out of all regions. This domination is due to the increasing cases of glaucoma, cataract surgery, and increased lifestyle disorders such as diabetes leading to diabetic retinopathy. Additionally, the increasing regulatory approvals and product launch activities are expected to aid in the growth of the North America micro invasive glaucoma surgery devices market during the forecast period of 2024 to 2030.


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