If the eyebags are of a certain size and not too big, scarless eyebag removal is appropriate. The problem with larger eyebags is that after removal, you end up with a lot of loose skin. So the problem is how to address this loose skin. We also address this in this Q&A here, which discusses skin tightening.
If it's not too large an eyebag, we use noninvasive skin tightening with energy-based devices. But on the other hand if its big enough, like the large eyebags with very loose skin, skin excision is often required.
The transconjunctival approach to removing the eye bags is often described as a scarless procedure because the scar is hidden in the mucosa, not in the skin exposed areas of the lower lid. Another scarless approach to shrinking the eye bag now available is through the use of the AGNES device - employing radio-frequency (RF) needles to shrink the eye bag, rather than excising them.