The minimally invasive glaucoma surgery (MIGS) devices are employed in the treatment of glaucoma to provide a safer and less invasive means of reducing intraocular pressure (IOP) as compared to conventional glaucoma surgery devices. MIGS devices are anticipated to become a preferred surgical modality in near future for the treatment of glaucoma as it reduces dependency on topical medications as well as gets rid of complications associated to traditional procedures. Moreover, MIGS devices are most commonly employed in combined cataract surgeries through phacoemulsification. In addition, two prime approaches of IOP reduction by MIGS involve increase in trabecular outflow through bypassing the juxtacanalicular trabecular meshwork (TM) and rise in uveoscleral outflow via suprachoroidal pathways. These two approaches are most commonly used in the treatment of glaucoma as these approaches can reduce the IOP in eyes effectively while reducing post-operative complications.
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Increase in focus on developing combination surgeries for the treatment of glaucoma, high prevalence of open-angle glaucoma, and rapid rise in geriatric population are anticipated to drive the growth of the minimally invasive glaucoma surgery (MIGS) devices market. In addition, increase in the changing demographics leading to obesity, diabetes, and varied eye disorders supplement the market growth. However, dearth of skilled professionals to perform minimally invasive glaucoma surgeries efficiently and high cost of the MIGS device hamper the market. Conversely, surge in investment by manufacturers in the emerging economies and rise in initiatives to reduce the burden of glaucoma globally are anticipated to offer lucrative opportunities for market expansion.
The minimally invasive glaucoma surgery (MIGS) devices market is segmented into surgery type, target, product, end user, and region.
On the basis of surgery type, the market is categorized into glaucoma in conjunction with cataract and standalone glaucoma. The standalone glaucoma segment dominated the global minimally invasive glaucoma surgery (MIGS) devices market in 2020 and is anticipated to continue this trend during the forecast period. Key factors, such as increase in geriatric population is prone to glaucoma such as mild to moderate glaucoma conditions, primary angle-closure glaucoma, and secondary angle-closure glaucoma, which is set to drive the growth of the minimally invasive glaucoma surgery (MIGS) devices market.
By target, the market is divided into trabecular meshwork, suprachoroidal space, and others. The trabecular meshwork segment is anticipated to depict significant growth during the forecast period due to ineffective drug delivery witnessed in the glaucoma medication has propelled the transition of glaucoma treatment from medication to minimally invasive glaucoma surgery (MIGS) devices, thereby augmenting the market growth.
By product, the market is divided into MIGS stents, MIGS shunts, and other. The MIGS stents segment is anticipated to depict significant growth during the forecast period. Increase in demand for surgical devices in emerging countries is expected to boost the growth of these segments during the forecast period.
By end user, the market is divided into eye hospitals, ophthalmology clinics, and outpatient surgical centers. The eye hospitals segment is anticipated to depict significant growth during the forecast period and is expected to exhibit a lucrative CAGR during the forecast period. Introduction of advanced surgical devices, shorter waiting time, cost efficiency, and rise in awareness about MIGS surgery and treatment devices are expected to boost the segment growth during the forecast period.
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