A recent report published by Infinium Global Research on minimally invasive glaucoma surgery (MIGS) devices market provides an in-depth analysis of segments and sub-segments in the global as well as regional minimally invasive glaucoma surgery devices industry
Pune, India -- (SBWIRE) -- 12/04/2019 -- Infinium Global Research has added a new report on "Minimally Invasive Glaucoma Surgery Devices Market (Surgery - Glaucoma in Conjunction with Cataract, and Stand-Alone Glaucoma; Target - Trabecular Meshwork, Suprachoroidal Space, and Other Targets; Product - MIGS Stents, MIGS Shunts, and Other Products; End-users - Hospitals, Ophthalmology Clinics, and Ambulatory Surgical Centers): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025." The global minimally invasive glaucoma surgery devices market is projected to grow at a CAGR of 24.6% over the forecast period of 2019-2025.
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Cataract and Glaucoma are the two major causes of blindness globally. By 2020 the population suffering from glaucoma is expected to reach up to 76 million. Glaucoma treatment involves either laser surgery, open surgery, or a combination of both. However, there are certain risks associated with these surgeries. The emergence of new minimally invasive glaucoma surgery (MIGS) is filling the gap of the conventional glaucoma surgeries. MIGS devices are the microscopic tools and equipment that use tiny incisions to carry out the operation. High safety profile and fast recovery from surgery have made MIGS more desirable than conventional surgery.
Minimally Invasive Surgeries Are Anticipated to Provide Lucrative Opportunities to the Manufacturers
Factors such as the increase in the geriatric population and the rise in the prevalence of ophthalmic disorders are the major drivers for the global MIGS devices market. Cataract and glaucoma are the most prevalent eye-diseases that occur with growing age, which are the significant causes of blindness in the aged population. Moreover, increasing demand for combined glaucoma and cataract treatment due to advancement in technology and increasing awareness regarding minimally invasive procedures have contributed to the growth of the MIGS devices market. Additionally, the key players in the ophthalmic treatment market are focusing more on developing MIGS stent for better effectiveness of the treatment.
This is expected to boost the demand for MIGS devices. However, inadequate reimbursement accommodation and lack of experienced and skilled professionals are some of the factors that act as restraints for the global MIGS devices market. Nevertheless, the trend in glaucoma therapy has been observed to shift from conventional medication to minimally invasive surgeries, which is anticipated to provide lucrative opportunities to the companies in the MIGS devices market.
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Glaucoma in Conjunction with Cataract Segment is Dominating the Global Minimally Invasive Glaucoma Surgery Devices Market
The global minimally invasive glaucoma surgery (MIGS) devices market is segmented on the basis of surgery, target, product, and end-user. The surgery segment is further categorized into glaucoma in conjunction with cataract and standalone glaucoma surgery. Among the surgeries, glaucoma, in conjunction with cataract, is dominating the global MIGS device market, accounting for a significant share in the market. The domination of glaucoma in conjunction with cataract segment attributes to the growing demand for combined glaucoma and cataract treatment, as most of the elderly population suffering from glaucoma have chances of getting cataract as well. Based on target, the global MIGS devices are segmented into Trabecular Meshwork, Suprachoroidal Space, and Others.
The trabecular meshwork target segment of the MIGS devices market is leading as the trabecular meshwork is the most commonly known drainage pathway for aqueous humor fluid, and the trabecular meshwork surgery involves lesser risks. The products included in the MIGS devices are, namely, MIGS stents, MIGS shunts, and other products. The MIGS stent is the dominating segment based on product and holds the largest share in the global MIGS device market. The domination of the MIGS stent segment attributes to the high adoption of stents for minimally invasive glaucoma treatment. The global MIGS device market is segmented based on end-users as hospitals, ophthalmology clinic, and ambulatory surgical centers. The hospital segment among the end-users dominated the global MIGS device segment owing to greater preference to hospitals by the patients.
The North America Region Dominated the Global Minimally Invasive Glaucoma Surgery Devices Market During the Forecast Period
The global MIGS devices market is geographically divided into four major areas, including, North availability of resources in the hospitals. America, Europe, Asia Pacific, and the Rest of the World. The North American region dominated the global MIGS devices market, accounting for the highest market share. The domination of the North American region owes to the increase in the geriatric population, availability of better healthcare infrastructure, and the presence of key players in the market. However, the market in the Asia Pacific region registered a robust growth rate owing to the large population base suffering from ophthalmic diseases, growing demand for minimally invasive surgeries, and a rise in the government expenditure on healthcare.
The global MIGS devices market is fragmented, wherein the small size companies compete with large size companies in the market. The key players in the global MIGS devices market include Glaukos Corp, Alcon Vision LLC., Bausch & Lomb Inc., and Carl Zeiss Meditec, Inc.; Allergan PLC, Ellex Medical Lasers Ltd., Ivantis, Inc., Lumenis Ltd., Santen Pharmaceutical Co., Ltd. and SOLX, Inc. are among others. Most of the players in the market are coming up with innovative devices to keep the market competitive. iStent from Glaukos and CyPass Micro-stent from Alcon are some of the MIGS stents in the market.
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the Minimally Invasive Glaucoma Surgery Devices.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.