The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Minimally Invasive Glaucoma Surgery (MIGS) Devices Global Market Report 2024, the minimally invasive glaucoma surgery (MIGS) devices market is expected to show promising growth in the forecast period.

• Rapid Market Expansion: The market for Minimally Invasive Glaucoma Surgery (MIGS) devices has seen significant growth, expanding from $0.55 billion in 2023 to an estimated $0.70 billion in 2024. This growth, with a compound annual growth rate (CAGR) of 27.8%, is driven by several factors, including heightened awareness of blindness prevention and increased investment in healthcare infrastructure.
• Future Projections: The MIGS devices market is expected to continue this upward trajectory, with projections indicating a rise to $1.89 billion by 2028 at a CAGR of 28.2%. This surge is attributed to the growing prevalence of eye disorders, an aging population, and the need for safer, more efficient treatments.

Rising Demand Due to Glaucoma Prevalence

• Glaucoma’s Impact: The increasing prevalence of glaucoma and other eye disorders is a significant driver of the MIGS devices market. Lifestyle changes, environmental factors, and aging populations contribute to the rising incidence of these conditions. MIGS devices, which focus on reducing intraocular pressure (IOP) to manage glaucoma, are becoming essential in combating these growing health issues.
• Future Implications: With the National Eye Institute predicting that 2.2 million Americans will be blind or partially blind by 2030, the demand for effective glaucoma treatments like MIGS devices is expected to increase, further propelling market growth. 

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Technological Innovations Transforming the Market

• Innovative Product Development: Leading companies in the MIGS devices market are focusing on developing innovative products to meet unmet needs in glaucoma management. Products like stent injectable systems are revolutionizing patient care by offering minimally invasive solutions for glaucoma treatment.
• Case Study – Glaukos Corporation: An example of such innovation is the iStent Infinite Trabecular Micro-Bypass System, developed by Glaukos Corporation. This three-stent injectable system, cleared by the FDA in August 2022, provides 24/7 IOP control for patients with primary open-angle glaucoma (POAG), whose condition is not managed by existing treatments.

Strategic Acquisitions Strengthen Market Position

• Alcon’s Strategic Move: In November 2021, Alcon Inc. expanded its ophthalmic portfolio by acquiring Ivantis Inc., a company known for manufacturing MIGS devices. This acquisition strengthens Alcon’s position in the global surgical market and enables the company to bring innovative products like the Hydrus Microstent to a broader patient base.
• Global Reach and Growth: Alcon’s acquisition of Ivantis highlights the strategic importance of mergers and acquisitions in expanding market reach and leveraging technological advancements to drive growth in the MIGS devices market.

Regional Insights and Market Segmentation

• North America Leads: In 2023, North America was the largest region in the MIGS devices market, reflecting the region’s advanced healthcare infrastructure and high awareness levels.
• Asia-Pacific Growth Potential: Looking ahead, the Asia-Pacific region is expected to be the fastest-growing market, driven by an increasing prevalence of eye disorders, a growing elderly population, and expanding healthcare infrastructure.
• Market Segmentation: The MIGS devices market is segmented by product type, surgery type, target area, distribution channel, and end user, with diverse offerings ranging from valves and stents to various surgical applications. The market serves ophthalmology clinics, ambulatory surgery centers (ASCs), and other end users, ensuring broad accessibility to these life-enhancing technologies.

In conclusion, the minimally invasive glaucoma surgery (MIGS) devices market is poised for exponential growth, fueled by rising demand for advanced glaucoma treatments, innovative technological advancements, and strategic industry moves. This dynamic market is set to transform patient care and surgical practices in the years to come.

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