Minimally Invasive Glaucoma Surgery Devices Market is Segmented By Product(Minimally Invasive Glaucoma Surgery Stents, Minimally Invasive Glaucoma Surgery Shunts, Others), By Types(Trabecular, Suprachoroidal, Subconjunctival), By Surgery Type(Glaucoma in conjunction with cataract, Stand-Alone Glaucoma), By End-User(Eye Hospitals, Ambulatory Surgical Centers, Ophthalmology Clinics, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview
Minimally invasive glaucoma surgery devices market is growing at a CAGR 7.1% during the forecast period (2024-2031).
For the treatment of glaucoma patients, minimally invasive glaucoma surgery devices provide an ab interno technique that avoids medication and conjunctival invasion. Minimally Invasive Glaucoma Surgery devices, such as stents, shunts, and micro-implants, treat individuals with mild-to-moderate glaucoma.
Market Dynamics
Over the years, there has been an increase in the preference for minimally invasive glaucoma surgery devices over traditional glaucoma surgical equipment. The former devices are safer and more effective than traditional devices. Furthermore, market participants' increased attention to developing stents specifically for minimally invasive glaucoma procedures that can reduce intraocular pressure (IOP) significantly fuels market growth.
Increasing adoption of minimally invasive surgeries over open surgeries will drive the market growth
The minimally invasive glaucoma surgery market is likely to expand due to an increase in the number of cataract and glaucoma procedures. Because of their high procedural volume, these devices are widely employed in surgeries. Furthermore, product approvals for glaucoma surgery instruments are projected to drive segment growth. Glaukos Corporation got FDA approval for the iStent, a minimally invasive glaucoma surgical drainage device used in cataract procedures. Furthermore, another business, Ivantis, gained permission for the Hydrus Microstent (MIGS device) I 2018. These gadgets are effective in glaucoma procedures, accelerating the segment's growth.
The rise in the geriatric population, combined with an increase in the prevalence of glaucoma worldwide, a surge in demand for combined glaucoma and cataract procedures, and an increase in the focus of key manufacturers on the development of MIGS stents, are driving market expansion. Furthermore, AbbVie bought Allergan plc in 2019 for eye care products such as Xen, durysta, ozurdex, and refresh/optive. With these significant improvements, regional players aim for a foothold in the minimally invasive glaucoma surgery device market. As a result, increased usage of minimally invasive glaucoma surgery devices drives market growth.These factors are likely to boost the minimally invasive glaucoma surgery devices market.
Lack of solutions for difficult anatomies is likely to hamper the market growth
However, reimbursement constraints for MIGS devices and a scarcity of experienced specialists impede market expansion.
COVID-19 Impact Analysis
The COVID-19 pandemic is an unusual worldwide public health concern expected to harm the market for minimally invasive glaucoma surgery (MIGS) equipment. For glaucoma surgery, glaucoma specialists favor the trabeculectomy operation. In minimally invasive glaucoma surgery (MIGS) before the COVID-19 epidemic, the iStent inject was the most often done MIGS procedure, followed by XEN and Preserflo. Although trabeculectomy is still the most regularly done established glaucoma surgery, it is being performed less during the COVID-19 pandemic due to a reduction in the number of postoperative visits and procedures required.
Market Segment Analysis
The trabecular meshwork segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)
The trabecular meshwork segment is expected to grow significantly during the forecast period due to ineffective drug delivery in glaucoma medication, which has prompted the transition of glaucoma treatment from medication to minimally invasive glaucoma surgery (MIGS) devices, thereby augmenting the market growth. Furthermore, market growth is fueled by introducing new products into the market. For example, On April 2017, Alcon announced the European introduction of the CyPass® Micro-Stent, a micro-invasive glaucoma surgical device designed to reduce intraocular pressure (IOP) in patients with primary open-angle glaucoma. As a result, various market players' number of regulatory authority approvals for products is boosting the market growth.
Market Summary
| Metrics | Details |
| Market CAGR | 7.1% |
| Segments Covered | By Product, By Surgery Type, By End-User, and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
Market Geographical Share
North America region holds the largest market share of the global minimally invasive glaucoma surgery devices market
North America is likely to hold a substantial market position in the global glaucoma surgery devices market because of the increasing prevalence of glaucoma, expanding elderly population, increased awareness, favorable reimbursement policies, and several key competitors. According to a Glaucoma Research Foundation report published in 2018, an estimated 3 million people have glaucoma, which is expected to rise in the following years. Furthermore, the expanding senior population in the United States increases the risk of glaucoma. Furthermore, rising healthcare expenditures and well-established healthcare infrastructure are propelling the total regional market to new heights.
In addition, organic and inorganic strategies such as mergers and acquisitions and partnerships within key market players will strengthen their product portfolio in the studied market which will drive the market. Also, several product launches in the market will lead to lucrative growth of the market. For instance, in June 2019, Micro Surgical Technology (MST) has released the MST 19-gauge Ahmed Micro-Stent Cutter in partnership with glaucoma and cataract specialist Ike Ahmed, MD. Furthermore, advancements in various surgical devices from established key players, in the United States, are likely to drive the market growth in North America.
Market Competitive Landscape
The minimally invasive glaucoma surgery devices market is a highly competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Glaukos Corporation, Ivantis Inc, Lumenis Ltd, Novartis, Ellex Medical Lasers, BVI, ASICO, Alco, Katalystsurgical, IOPtima, among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the minimally invasive glaucoma surgery devices market globally. For instance, In November 2019, Glaukos Corporation announced the acquisition of Avedro, Inc., a company that likewise develops products for corneal health. This acquisition has resulted in a broadening of the product line. This increased the company's revenue.
Ivantis
Overview:
Ivantis is working on a new glaucoma treatment that incorporates eye drops, laser therapy, and surgery.
Product Portfolio:
Hydrus Microstent: A doctor uses small incisions and modern equipment to place the very flexible Hydrus Microstent, roughly an eyelash size. This less invasive approach to glaucoma surgery results in fewer problems and faster healing times than traditional glaucoma surgery.
