The Global Glaucoma Treatment Industry, currently valued at an impressive US$ 5.8 Billion, is set to witness substantial growth, projected to reach US$ 8 Billion by the year 2033. This surge reflects a Compound Annual Growth Rate (CAGR) of 3.2% between 2023 and 2033, underlining the industry’s robust trajectory.
The landscape of glaucoma treatment is experiencing a rapid evolution, with researchers dedicating relentless efforts to enhance patient care and outcomes. Notably, a pivotal shift is underway as extensive research explores the benefits of prostaglandin analogs in treating glaucoma. This drug class demonstrates remarkable potential, offering enhanced efficiency with fewer side effects compared to traditional therapeutics.
One key demographic facing an increased risk of glaucoma is the elderly population. The rise in glaucoma cases among seniors correlates with the significant surge in screen time associated with smartphones and laptops. According to the International Agency for the Prevention of Blindness, in 2018, 1.9% of the US population aged 40 and above suffered from glaucoma. This figure escalated to a staggering 80 million in 2020, especially after widespread lockdowns.
The industry’s growth not only signifies a promising future for glaucoma patients but also reflects the dedication of researchers and healthcare professionals in advancing treatment options. As the demand for innovative solutions rises, the Global Glaucoma Treatment Industry is poised to play a pivotal role in shaping the future of eye care.
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The glaucoma treatment market is also subject to certain restraints. For instance – drug recalls about 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.
“With benevolence regarding a slow progressing eye disorder called ‘glaucoma’, the Global Glaucoma Treatment Industry is expected to grow at a noticeable rate shortly”, 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 the 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 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 shortly with India witnessing the 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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