MIGS are Expected to Drive Growth in the Glaucoma Surgical Device Market

January 7, 2016: By Market Scope

Glaucoma is the world’s second-leading cause of blindness, affecting more than 80 million people, according to Market Scope estimates. While diagnosis and treatment are widely available in wealthy nations, this is not the case in many underdeveloped countries, where the majority of individuals with glaucoma remain undiagnosed and untreated. We estimate that only 24.7 million, or 31 percent of people with glaucoma, are diagnosed. Market Scope estimates that another 45 million are ocular hypertensive (OHT) or have elevated intraocular pressure (IOP).

Glaucoma patients have been routinely prescribed medication as a first-line defense to combat the blinding disease, but medications are expensive, require daily administration, frequently cause troublesome side effects, and often fail to control the progression of the disease. Conventional surgical techniques used to treat glaucoma, such as filtration surgery and tube shunts, also have significant limitations, as do lasers. While product improvements are expected in the next five years in all glaucoma-related categories (diagnostic devices, pharmaceuticals, lasers, and surgical devices), the most promising developments are likely to occur with the new crop of innovative approaches to surgery known as advanced technology glaucoma surgery (ATGS) devices, a category that includes minimally invasive glaucoma surgery (MIGS) devices.

MIGS devices are expected to drive most of the growth in glaucoma surgery devices over the next five years, with revenues increasing at a compounded annual growth rate (CAGR) of 51 percent. Factors contributing to growth in the glaucoma surgical device market are: aging population, new advanced technology glaucoma surgery devices entering the market, robust demand for improved visual outcomes, and growing worldwide access to advanced medical technology. The fastest growth is anticipated in China, India, and Latin America where nearly half of the world’s glaucoma patient population resides. These populations tend to be the least compliant with glaucoma medication therapy because of the cost factor and the cumbersome need to travel long distances to reach ophthalmologists who are able to prescribe medications. A one-time surgery performed in the doctor’s office could have enormous appeal, though cost is still likely to be a barrier.

The global glaucoma surgical device market is dominated by five companies, each with sales revenue exceeding $24 million: Glaukos, Alcon, New World Medical, Ellex, and Abbott Medical Optics. Combined, these companies are expected to generate nearly two-thirds of 2015 glaucoma surgical device revenues.

Market Scope published its 2015 Comprehensive Report on the Global Glaucoma Surgical Device Market in August 2015. It is the only source for accurate and relevant information on all aspects of the glaucoma surgical device market. We cover prevalence and forecasts for glaucoma worldwide, and we discuss the ophthalmologists who treat glaucoma. We examine the role of surgical intervention, the market dynamics for currently commercialized products, and the pipeline of investigational devices that may offer improved outcomes. We forecast product demand in units and dollars, and we analyze market shares by product category. We also discuss key strategic issues. This report includes market data for 2014, and we forecast market performance through 2020. Our forecast also subdivides the cataract equipment market into eight geographic/economic analytic categories: the US, Western Europe, Japan, Other Wealthy Nations, China, India, Latin America, and Rest of World.

Coming soon

2018 Ophthalmic Laser Report: A Global Market Analysis for 2017 to 2023 (Photocoagulation, Photodisruption, and SLT