The Global Glaucoma Treatment Industry is currently valued at an impressive US$ 5.8 Billion. It is projected to reach US$ 8 Billion by 2033, boasting a Compound Annual Growth Rate (CAGR) of 3.2% between 2023 and 2033.
The landscape of glaucoma treatment is evolving rapidly, and researchers are leaving no stone unturned to enhance patient care and outcomes. Notably, extensive research is being conducted to explore the benefits of prostaglandin analogs in treating glaucoma, leading to a growing shift towards adopting this drug class. These analogs have shown remarkable potential in delivering enhanced efficiency while exhibiting fewer side effects compared to traditional therapeutics.
The elderly population is more into getting infected by glaucoma these days. Additionally, it has been observed that the screen time of geriatric population with respect to smartphones and laptops has increased on a tremendous count in the last few years. This is evident from the fact that the International Agency of the Prevention of Blindness states that 2018 witnessed 1.9% of the population of the US aged 40 and above suffered from glaucoma. This figure surpassed 80 Million in 2020; especially after lockdowns being enforced all across.
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The glaucoma treatment market is also subject to certain restraints. For instance – drug recalls pertaining to these therapeutics have become a common thing now. For example – Allergan had to recall 7 lots of Combigan and a lot of Lumigan as it failed to meet the regulatory standards. Such activities are likely to render the end-users sceptic regarding the usage of drugs for treating glaucoma. The likelihood of them opting for glaucoma surgeries would be higher then. However, the American Academy of Ophthalmology states that glaucoma, along with non-critical ophthalmic surgeries, should be avoided, especially the ones with comorbidities.
Future Market Insights has entailed these facts with future perspectives in its latest market study entitled ‘Intraocular pressure management Market’. It has a dedicated team of analysts and consultants to execute with a 360-degree view along its line of macros and micros.
“With benevolence regarding a slow progressing eye disorder called ‘glaucoma’, the Global Glaucoma Treatment Industry is expected to grow at a noticeable rate in the near future”, says an analyst from Future Market Insights.
Key Takeaways from the Global Glaucoma Treatment Industry
- North America holds a sizable market share with the US being subject to growing awareness about importance of eye care/associated treatments and diagnoses. As per the BrightFocus Foundation, over 3 Million Americans have contracted glaucoma, that too, with open-angle glaucoma being amongst the frequent types.
- Europe stands second with Germany leading from the front. This could be reasoned with close to 500K people in Germany suffering from intraocular pressure. Plus, 10% of them hold the risk of going blind. It needs to be noted that acute glaucoma could strike any age group, but, with the passage of time, women turn out to be all the more vulnerable as compared to men.
- The Asia-Pacific is expected to grow at a rapid pace in the glaucoma treatment market in the near future with India witnessing development of micro-invasive glaucoma drainage implants; which do offer a less intrusive and safer means to reduce IOP (intraocular pressure) in comparison with standard glaucoma surgery devices.
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Competitive Analysis
- Senju Pharmaceutical Co., Ltd., in December 2019, did announce launching AIBETA, a combination drug for managing hypertension and glaucoma in Japan.
- AbbVie Inc., in May 2020, did complete Allergan plc’s strategic acquisition. It has facilitated the former to portray itself as a leader in glaucoma treatment market.
- Aerie Pharmaceuticals, in December 2021, inked a partnership with Santen Pharmaceuticals for developing and marketing Rocklatan/Roclanda and Rhopressa/Rhokiinsa all over Oceania, India, Europe, China, and LATAM.
- Teva Pharmaceuticals, in March 2021, did announce the very first generic version of AZOPT (brinzolamide ophthalmic suspension) 1% for treating open-angle glaucoma along with ocular hypertension.
Global Glaucoma Treatment Industry Key Companies Profiled:
- AERIE Pharmaceuticals, Inc.
- Cipla Inc.
- Akorn Operating Company LLC
- AbbVie
- Bausch & Lomb Incorporated
- Inoteck Pharmaceuticals
- Merck & Co., Inc.
- Novartis AG
- Pfizer Inc.
- Santen Pharmaceutical Co., Ltd.
- Teva Pharmaceutical Industries Ltd.
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Key Market Segments Covered in Global Glaucoma Treatment Industry Research
By Disease Type:
- Open Angle Glaucoma
- Angle Closure Glaucoma
- Other
By Drug Class:
- Prostaglandin Analog
- Beta Blockers
- Adrenergic Agonist
- Carbonic Anhydrase Inhibitors
- Others
By Distribution Channel:
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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