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Minimally Invasive Glaucoma Surgery (MIGS) Devices market size, share
PORTLAND, OR, UNITED STATES, October 7, 2024 /EINPresswire / -- The Minimally Invasive Glaucoma Surgery (MIGS) devices market has been witnessing substantial growth and transformation. Offering safer and more effective
treatment options compared to traditional glaucoma surgeries, MIGS devices are becoming the preferred choice for patients with mild-to-moderate glaucoma. Below is a detailed overview of this rapidly evolving market.
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Key Market Insights
.Market Size and Growth:
.Valued at $298.75 million in 2020, projected to reach $5,099.38 million by 2030.
.A robust CAGR of 35.0% from 2021 to 2030, driven by increasing preference for minimally invasive procedures.
.Technological Advancements:
.Development of stents, shunts, micro-implants, and other devices that reduce intraocular pressure (IOP) effectively.
.The focus on ab interno approaches that spare medication and reduce conjunctival invasion.
.Rising Demand:
.Growing popularity of MIGS over traditional devices due to higher safety and efficacy.
.Surge in combined glaucoma and cataract surgeries is propelling demand for MIGS devices.
.Glaucoma Prevalence:
.Increased cases of glaucoma globally, especially among the aging population, fuel the market.
.Changing demographics and a rise in ophthalmic diseases also contribute to market expansion.
Market Segmentation
.By Surgery Type:
.Standalone Glaucoma: Leading the market in 2020 and expected to maintain dominance, driven by the increasing number of patients with primary and secondary angle-closure glaucoma.
.Glaucoma in conjunction with cataract: Also a growing segment due to rising demand for combined surgeries.
.By Target:
.Trabecular Meshwork: Expected to see significant growth, as ineffective drug delivery has led to a shift from traditional medications to MIGS.
.Suprachoroidal Space and Other Targets: Emerging areas of interest for future developments.
.By Product:
.MIGS Stents: High growth potential, fueled by increasing demand in emerging markets and the aging population.
.MIGS Shunts and Other Devices: Expected to follow similar growth trends.
.By End User:
.Eye Hospitals: Anticipated to dominate the market, with rising awareness, advanced technologies, and cost-efficiency.
.Ophthalmology Clinics and Outpatient Surgical Centers: Also projected to see substantial growth.
.By Region:
.Asia-Pacific: Expected to exhibit significant growth, driven by increased demand for surgical devices in emerging economies.
.North America and Europe: Continue to be strong markets due to technological advancements and high adoption rates of MIGS devices.
Key Market Players
.Major Companies:
.AbbVie Inc.
.Glaukos Corporation
.iSTAR Medical SA
.Lumenis Ltd.
.Ziemer Ophthalmic Systems AG
.Santen Pharmaceutical Co. Ltd.
.Carl Zeiss Meditec AG, among others.
Market Challenges
.Reimbursement Barriers: Lack of favorable reimbursement policies for MIGS procedures in several regions may slow market growth.
.Shortage of Skilled Professionals: Limited availability of surgeons trained in MIGS techniques could hamper adoption.
Future Opportunities
.Transition from Medications to Surgery: As glaucoma medications become less effective for many patients, there is a growing shift towards minimally invasive surgeries.
.Growing Regional Players: Increased competition from emerging players in regional markets could further boost market innovation and accessibility.
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Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.