Glaucoma Market Size, Share, Opportunities, And Trends By Disease Type (Open Angle Glaucoma, Angle Closure Glaucoma, Others), By Drug Class (Prostaglandins Analogs, Beta-blockers, Adrenergic Agonists, Carbonic Anhydrase Inhibitors, Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), And By Geography - Forecasts From 2023 To 2028
- Published : Nov 2023
- Report Code : KSI061615756
- Pages : 140
The glaucoma market was valued at US$2.047 billion in 2021.
The glaucoma market is anticipated to grow significantly during the forecast period. Glaucoma is at the second position globally, the main cause being intraocular tension. Lowering intraocular tension is the major treatment objective. This is accomplished by either decreasing aqueous humour secretion or enhancing drainage. Acute congestive glaucoma, chronic glaucoma, angle-closure glaucoma, and open-angle glaucoma are other categories of glaucoma. There is no definitive cure for glaucoma, even though several medications might lessen its symptoms.
Major growth drivers for the glaucoma market
The increased prevalence of glaucoma, rising healthcare costs, improvements in diagnostic techniques, and favourable reimbursement practices are all contributing to the growth of the glaucoma therapeutics market. In addition, the availability of novel medication formulations and technical developments in glaucoma therapies, such as minimally invasive glaucoma surgery (MIGS) devices and sustained-release drug delivery systems, are propelling the glaucoma market's expansion.
Rising incidence of people suffering from glaucoma
As the number of people suffering from glaucoma increases so does the glaucoma therapeutics market. Diabetes increases the risk of developing glaucoma significantly, as do other eye disorders such as age-related macular degeneration (AMD), cataract, and dry eye. In line with this, the ageing population, which is more vulnerable to certain diseases, is promoting glaucoma market growth. Major companies are manufacturing anti-glaucoma medications to lower the increased levels of IOP.
Growing aged population to fuel the market.
As glaucoma incidence has grown over the past several years owing to the ageing population, it is anticipated that demand for these medications would increase. Furthermore, according to a 2017 United Nations report, the prevalence of the disease is predicted to rise in the coming years as the population aged 60 and above rises from 12.7% in 2017 to 21.3% by 2050. As glaucoma is more common among the elderly, a rise in the geriatric population is predicted to increase its prevalence, therefore, fueling the glaucoma market.
Prostaglandin Analogs is anticipated to grow significantly
Prostaglandin analogues increase the eye's ability to expel intraocular fluid. One brand of this kind of drug may be more efficient and have fewer adverse effects for a particular person. Eye drops are used to provide prostaglandin analogues. When someone has open-angle glaucoma, they are successful in lowering intraocular pressure. There are various generic versions of latanoprost, as well as certain versions of bimatoprost and travoprost. Tafluprost is a prostaglandin analogue without preservatives.
Technological advancements are fueling the market
One of the key elements affecting the glaucoma market prediction is the ongoing technological development in the ophthalmology sector. The demand for innovative surgical methods is anticipated to fuel glaucoma market growth. The advancements in medical imaging, optical coherence tomography (OCT), micro-invasive glaucoma surgery (MIGS), selective laser trabeculoplasty (SLT), and progression analysis software may further enhance the demand for optometrists. By including laser therapies as first-line treatments and glaucoma drugs, the glaucoma market size will also grow.
Growing demand for efficient prescription eye drops for glaucoma
To control glaucoma at an early stage, manufacturers and other market participants in the glaucoma treatment market are working to develop innovative medication combinations and prescription eye drops. To ease the burden on healthcare facilities, several biomedical and pharmaceutical companies engage in product development certain of these medications used to treat glaucoma include beta-blockers, carbonic anhydrase inhibitors, alpha-agonists, cholinergic, prostaglandin analogues (PGAs), and certain combination treatments. These drugs assist in reducing intraocular pressure by encouraging fluid evacuation from the patient's eye.
Pipeline treatment is a major market opportunity
The various pipeline therapies for the currently developing disease will be the primary driver of the glaucoma market growth over the forecast period. One of the most recent developments is a brand-new medicine for the treatment of glaucoma that was developed by the Institute for Therapeutics Discovery & Development (ITDD) and the Department of Medicinal Chemistry at the University of Minnesota College of Pharmacy. The leading glaucoma drugs in development are latanoprost, ripasudil hydrochloride hydrate, PH-011, PH-012, netarsudil mesylate, latanoprost, (bimatoprost + timolol), and (latanoprost + netarsudil). Prostaglandin analogues are typically the first course of therapy.
North America is anticipated to be the largest glaucoma market shareholder
One of the main factors contributing to North America's glaucoma market growth is its sophisticated hospital diagnosis infrastructure and efficient treatment framework. Since the problem worsens gradually, efficient diagnostic instruments allow for its early identification. The increase is being supported by the increasing number of FDA approvals and medicine launches for the treatment in the area.
However, due to the region's ageing population, which is especially high in countries like China and Japan, Asia Pacific is predicted to expand at the fastest rate in the glaucoma market. In Asia Pacific, public funding is lower and most medical operations are fee-for-service.
Market Key Developments
- In April 2023, new novel gene therapy for glaucoma was developed by Trinity College geneticists.
- In July 2022, To commercialise the MINIject® device, a less invasive glaucoma surgical tool for glaucoma patients, AbbVie and iSTAR Medical have formed a strategic agreement.
- In April 2022, to carry out Phase 1 study for SBI-100 Ophthalmic Emulsion, Skye Bioscience choose CMAX clinical research. Skye will get assistance from CMAX, one of the most renowned trial operators in the world who specialises in early-phase studies, with subject recruiting and Skye will give the trial medicine to healthy participants.
Glaucoma Market Scope:
|Market Size Value in 2021||US$2.047 billion|
|Growth Rate||CAGR during the forecast period|
|Forecast Period||2023 – 2028|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Disease Type, Drug Class, Distribution Channel, and Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||Pfizer Inc., Santen Pharmaceutical Co., Ltd., Novartis AG, Alcon Inc., Akron Operating Company LLC, Thea Pharma, AbbVie, Inc., Bausch + Lomb Corporation, Teva Pharmaceuticals Industries Ltd., AC Immune|
|Customization Scope||Free report customization with purchase|
- By Disease Type
- Open Angle Glaucoma
- Angle Closure Glaucoma
- By Drug Class
- Prostaglandins Analogs
- Adrenergic Agonists
- Carbonic Anhydrase Inhibitors
- By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- By Geography
- North America
- United States
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. GLAUCOMA MARKET, BY DISEASE TYPE
5.2. Open Angle Glaucoma
5.3. Angle Closure Glaucoma
6. GLAUCOMA MARKET, BY DRUG CLASS
6.2. Prostaglandins Analogs
6.4. Adrenergic Agonists
6.5. Carbonic Anhydrase Inhibitors
7. GLAUCOMA MARKET, BY DISTRIBUTION CHANNEL
7.2. Hospital Pharmacy
7.3. Retail Pharmacy
7.4. Online Pharmacy
8. GLAUCOMA MARKET, BY GEOGRAPHY
8.2. North America
8.2.1. United States
8.3. South America
8.4.1. United Kingdom
8.5. The Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. Pfizer Inc.
10.2. Santen Pharmaceutical Co., Ltd.
10.3. Novartis AG
10.4. Alcon Inc.
10.5. Akron Operating Company LLC
10.6. Thea Pharma
10.7. AbbVie, Inc.
10.8. Bausch + Lomb Corporation
10.9. Teva Pharmaceuticals Industries Ltd.
10.10. AC Immune
Santen Pharmaceutical Co., Ltd.
Akron Operating Company LLC
Bausch + Lomb Corporation
Teva Pharmaceuticals Industries Ltd.
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