Minimally Invasive Glaucoma Surgery (MIGS) Devices Market

The global Minimally Invasive Glaucoma Surgery (MIGS) Devices Market is valued at USD 546.3 Million in 2023 and is projected to reach a value of USD 887.2 Million by 2032 at a CAGR (Compound Annual Growth Rate) of 5.6% between 2024 and 2032. The global market is driven by an aging population base, increasing prevalence of glaucoma, advancements in surgical technology, and rising demand for safer, more effective treatments with quicker recovery times.

Key Highlights

• North America dominated the market in 2023, with 36.5% market share due to its advanced healthcare infrastructure, high adoption of innovative technologies, and substantial research & development investment
• The Glaucoma Drainage Implant segment dominated the market in 2023, with 34.2% of the market share, driven byits effectiveness in managing advanced glaucoma cases and improving patient outcomes
• Based on End-use, the Hospitals segment held a significant share of the market in 2023, due to their high patient volume and advanced medical infrastructure
• The integration of AI in MIGS devices is an emerging trend, offering enhanced precision and customization in surgical procedures. AI-driven technologies are helping surgeons in planning and executing procedures with greater accuracy, thereby improving patient outcomes

Product Overview

Based on Product, the global market is segmented into Valves, Glaucoma Drainage Implant, Glaucoma Tube Shunts, Stents, and Others. The Glaucoma Drainage Implant segment held the largest revenue share of 34.2% of the global market in 2023.

Glaucoma drainage implants are highly effective surgical solutions for treating the glaucoma, especially when other treatments such as medications and laser therapy fall short. Such implants enhance surgical techniques, enable targeted medication delivery, and improve patient comfort. Examples of the various glaucoma drainage devices available include the Baerveldt Glaucoma Implant, Molteno Implant, Krupin Valve, Ahmed Glaucoma Valve (AGV), and others.

The stent segment is expected to experience the highest compound annual growth rate (CAGR) during the forecast period. Stents provide an alternative path for draining aqueous humor, the fluid inside the eye, which helps reduce intraocular pressure (IOP). However, stents are not suitable for all the glaucoma patients. The choice of treatment, including the use of stents, depends on the specific condition and type of glaucoma affecting the individual.

Regional Overview

In 2023, North America dominated the global market with a revenue share of 36.5%. In 2023, North America led the market, largely due to the growing elderly population and rising glaucoma rates. Additionally, the adoption of reimbursement models for ophthalmic treatments & stringent regulatory measures aimed at enhancing patient safety are expected to drive demand for ophthalmic devices in the region. The presence of major market players developing advanced products is also projected to support the regional market growth.

Minimally invasive glaucoma surgery (MIGS) has seen rapid adoption in the US, according to a retrospective study by ophthalmologists at Mass Eye and Ear/Massachusetts General Hospital using a nationally representative database. From 2013 to 2018, MIGS procedures surged from 7,568 to 39,677, while traditional procedures declined from 16,215 to 13,701. The study highlighted demographic variations, with white patients more likely to receive iStent or Xen gel stent placements, and younger and Black patients more inclined towards traditional surgeries or goniotomy. Despite MIGS devices being FDA-approved only with cataract surgery, 11% of iStent and CyPass procedures were coded as standalone surgeries. The shift from traditional to MIGS is driven by declining reimbursements for standard procedures and the availability of insurer-reimbursed MIGS options, though future Medicare reimbursement restrictions could impact MIGS adoption.

The Asia Pacific region is set to achieve the highest compound annual growth rate during the forecast period due to several factors. Key drivers include improvements in healthcare infrastructure, an increase in eye disorders like glaucoma, and greater patient awareness. Also, major industry players are outsourcing ophthalmology devices to the region. The growing awareness of advanced vision correction treatments is propelling the economic expansion in countries like China and India. In 2023, China led the market for Minimally Invasive Glaucoma Surgery (MIGS) Devices, because of its less stringent regulatory processes and ample resources that support cost-effective technological advancements and more manufacturing facilities.

Key Trends

1. Technological Advancements and Innovation: Continuous advancements in MIGS devices are driving the market, with innovations such as micro-stents, micro-shunts, and novel delivery systems improving surgical outcomes. The focus is on developing devices that offer increased safety, efficacy, and ease of use, leading to faster adoption in clinical settings.
2. Growing Prevalence of Glaucoma: The rising incidence of glaucoma, particularly among the aging population, is a significant driver for the MIGS devices market. With an increasing number of people at risk of developing glaucoma, there is a growing demand for effective and minimally invasive treatment options.
3. Favorable Reimbursement Policies: Improved reimbursement policies in key markets, particularly in North America and Europe, are encouraging the adoption of MIGS devices. These policies are making it more affordable for patients to undergo minimally invasive procedures, boosting market growth.
4. Surge in Ophthalmic Surgeries: The rising number of ophthalmic surgeries globally, driven by an aging population and increasing awareness about eye health, is contributing to the growth of the MIGS devices market. Surgeons are increasingly opting for MIGS devices due to their less invasive nature and shorter recovery times.
5. Increased Focus on Patient-Centric Care: There is a growing emphasis on patient-centric care, with a focus on developing devices that enhance the patient experience by reducing complications, pain, & recovery times. This trend is driving innovation in the market as manufacturers strive to meet patient needs effectively.
6. Regulatory Approvals and Clinical Trials: The market is witnessing an increase in regulatory approvals for new MIGS devices, supported by positive outcomes from clinical trials. Regulatory bodies like the FDA & European Medicines Agency (EMA) are playing a crucial role in shaping the market by approving safe and effective devices.

Market Dynamics

Overview of MIGS: Minimally Invasive Techniques for Lowering Intraocular Pressure

MIGS, or minimally invasive glaucoma surgery, encompasses a variety of implants, devices, and techniques designed to lower intraocular pressure (IOP) in the eye. Glaucoma occurs when fluid buildup, known as aqueous humor, increases IOP, damaging the optic nerve and resulting in vision loss. MIGS enhances fluid drainage from the eye to alleviate this pressure. The term “minimally invasive” refers to the use of small incisions and/or microscopic instruments, which reduce the risk compared to more traditional procedures like trabeculectomy or aqueous shunt.

Advances in Glaucoma Treatment

Since glaucoma can be treated with modern medicine and various methods exist to prevent further damage, it usually does not lead to blindness. The treatment of glaucoma has been revolutionized by significant scientific advancements. The introduction of micro-invasive glaucoma surgery (MIGS) marks a major shift in medical practice, enabling early-stage treatment of glaucoma and reducing the need for filtration surgeries like trabeculectomy. Moreover, MIGS helps avoid the risks associated with traditional incisional surgeries. This approach has brought numerous improvements to glaucoma management.

Rising Demand for MIGS: Benefits Over Traditional Glaucoma Surgeries

The growing appeal of minimally invasive glaucoma surgery (MIGS) among both healthcare providers & patients is driven by several key factors. MIGS techniques offer notable advantages over traditional glaucoma surgeries, including fewer complications, quicker recovery times, & reduced risk of side effects. The rising incidence of glaucoma is also driving the market growth. Current estimates suggest that approximately 80 million people globally have glaucoma, with projections indicating this number could reach 111 million by 2040. The aging population significantly contributes to the increased prevalence of glaucoma, as older individuals are more susceptible to the condition, which can lead to vision loss if untreated.

Rapid Growth Expected in Schlemm’s Canal Implants Segment

The Schlemm’s canal implants segment is expected to experience the fastest growth during the forecast period. These implants, part of the micro-invasive glaucoma surgery (MIGS) category, are designed specifically to manage intraocular pressure (IOP) in glaucoma patients. They work by creating a new pathway for the drainage of aqueous humor, the clear fluid in the eye, through Schlemm’s canal, which is a crucial component of the eye's natural drainage system.

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Competitive Landscape

The global market for Minimally Invasive Glaucoma Surgery (MIGS) Devices is marked by significant innovation, including frequent new product developments and technological advancements. Key players in the market, such as Alcon, Inc., Carl Zeiss Meditec AG, and Glaukos Corporation are employing mergers & acquisitions to strengthen their market positions. This approach helps them enhance capabilities, broaden their product offerings, and improve their expertise.

Market players are also investing heavily in clinical trials & regulatory procedures to gain approval for their new pipeline products. Such investments may increase the costs associated with developing innovative Minimally Invasive Glaucoma Surgery (MIGS) Devices.

Companies are focusing on the innovations that more effectively lower intraocular pressure, improve patient comfort, & simplify surgical processes. Product development includes advancing implantable devices, enhancing existing technologies for better performance, and creating devices tailored to specific types of glaucoma.

Recent Market Developments

FDA Clearance for Glaukos' iStent Infinite: A Milestone in Glaucoma Treatment

• In August 2022, Glaukos Corporation, a company specializing in ophthalmic medical technology and pharmaceuticals, announced that it has received 510(k) clearance from the US Food and Drug Administration (FDA) for its iStent infinite Trabecular Micro-Bypass System. This device is indicated for use in standalone procedures to lower elevated intraocular pressure (IOP) in patients with primary open-angle glaucoma who have not responded to previous medical and surgical treatments.

Alcon Expands Surgical Portfolio with Ivantis Acquisition and Hydrus Microstent Integration

• In January 2022, Alcon has finalized its acquisition of Ivantis Inc., incorporating the Hydrus Microstent into its global surgical portfolio. This acquisition facilitates the seamless integration of Ivantis' team, ensuring ongoing business operations and maintaining relationships with current customers.

The global Minimally Invasive Glaucoma Surgery (MIGS) Devices market can be categorized as Product, Surgery Method, End-use, and Region.