Glaucoma Treatment Market

Market Overview

The global glaucoma treatment market was valued at USD 6.4 billion in 2022 and is projected to reach USD 10.25 billion by 2031, registering a CAGR of 5.4% during the forecast period (2023-2031).

Glaucoma is a chronic eye ailment characterized by optic nerve damage that, if unchecked, can lead to progressive vision loss. While there is no cure for glaucoma, numerous therapeutic options are available to control the illness and delay its development. These therapies are designed to reduce intraocular pressure (IOP), a key risk factor for optic nerve injury in glaucoma.

According to the Global market report, Glaucoma Treatment is expanding drastically. This increase can be ascribed to various variables, including rising glaucoma prevalence, technical breakthroughs in treatment choices, increased awareness and screening programs, rising healthcare spending, and regional variances. North America is the largest market share, followed by Europe and Asia-Pacific.

Highlights

• Open Angle glaucoma holds the major share in the market based on disease type
• Based on drug class, prostaglandin analog is the highest contributor.
• Hospital pharmacies topped the distribution channel segment.
• North America is the highest contributor to the market by region.

Market Dynamics

Global Market Drivers

Rising Prevalence of Glaucoma

Glaucoma's increasing incidence directly influences the need for glaucoma therapies. As more people are diagnosed with glaucoma and seek treatment alternatives, the chances for market growth are high. This comprises various pharmacological medications, surgical techniques, and medical gadgets to address glaucoma. Glaucoma affects around 78 million individuals worldwide, according to World Health Organization (WHO) estimates. The number is expected to rise dramatically due to factors such as an aging population and the prevalence of risk conditions such as diabetes and hypertension. The older population's increased use of devices such as laptops and smartphones contributes to the rising prevalence of glaucoma. According to the International Agency for the Prevention of Blindness, around 1.9% of the U.S. population over 40 had glaucoma in 2018. The Agency also predicts that by 2020, around 80 million individuals worldwide will suffer from glaucoma.

Global Market Restraints

Stringent Regulation and Drug Side Effects

The glaucoma drug approval process is rigorous, and it is occasionally necessary to withdraw or reject a product from the market owing to safety concerns and for various other reasons, such as bioavailability, drug performance, effectiveness, PH characteristics, and toxicity. For example, Apotex Corp. recalled 22,027 timolol maleate ophthalmic solution bottles in 2023 because medication samples failed to fulfill stability criteria. Glaucoma therapy is sometimes connected with drug side effects. Prostaglandin analogs, for example, can cause eye redness and itching; beta blockers can cause low blood pressure and reduced libido; and Rho kinase inhibitors can cause stinging and tiny bleeding on the eye's white area. Major drug recalls for the treatment might significantly influence market growth. For example, Allergan was forced to withdraw one lot of Lumigan and seven lots of Combigan after they failed to fulfill regulatory criteria and impurity levels before being delivered to patients. Regulatory recalls of such goods may raise mistrust and concern among healthcare professionals and patients about medications advertised for the treatment of glaucoma. In addition, gadgets that promise long-term benefits, effectiveness, and minimal side effects may influence treatment acceptance in this market. Therefore, it is anticipated that this can impede the market share.

Global Market Opportunities

Rapid Technological Advancement in the Ophthalmology Industry

A rise aids the industry's growth in new innovative goods and clinical trial items. The Department of Medicinal Chemistry at the University of Minnesota College of Pharmacy and the Institute for Therapeutics Discovery & Development (ITDD) cooperated to develop a breakthrough drug for the treatment of glaucoma in 2022. The fast technological improvements in the ophthalmology sector and the increasing usage of new surgical approaches drive the market. Advances in optical coherence tomography (OCT), selective laser trabeculoplasty (SLT), medical imaging, progression analysis software, and micro-invasive glaucoma surgery (MIGS) have increased the demand for optometrists. This is one of the primary drivers of market expansion. With the development of laser therapy and medications for illness, the size of the glaucoma market is expected to grow.

Regional Analysis

North America Dominates the Global Market

The global glaucoma treatment market is analyzed in North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

North America holds the largest market share and is expected to grow at a CAGR of 5.32% during the forecast period. The well-developed hospital diagnosis infrastructure and excellent treatment framework are two significant reasons for North America's supremacy in this market. As the illness worsens gradually, good diagnostic methods allow for early detection. The region's rise is being fueled by increased FDA approvals and medication launches for the therapy. The United States will likely be the largest market because of increased incidence and improved healthcare infrastructure. According to the BrightFocus Foundation, more than 3 million Americans have glaucoma, with open-angle glaucoma being the most frequent. Furthermore, glaucoma costs the U.S. economy around USD 2.86 billion per year in direct expenses and productivity losses. In addition, many organizations in the United States are raising awareness of glaucoma, which is projected to drive the market's overall growth.

Europe stands second globally and is expected to grow at a CAGR of 5.18% in the projected time. According to estimations, Europe's favorable reimbursement environment will encourage the usage of glaucoma therapies. Glaucoma treatments have now been included in the list of authorized, subsidized therapeutic commodities available to U.K. residents through the National Health Service (NHS). Germany has emerged with the highest share of the European market. Glaucoma is one of the world's major causes of blindness. In Germany, over 500,000 people have excessive intraocular pressure, with 10% at risk of blindness. However, the number of unreported instances is likely to be substantially greater. At a younger age, glaucoma affects both men and women. Acute glaucoma can arise at any age, although the risk increases dramatically as one gets older. Women are more at risk than males. According to hospital quality assessments, glaucoma treatment in Germany grew more efficient after 2006, as it transitioned from traditional to contemporary treatment processes and became a potential for rigorous payback criteria.

Asia Pacific is expected to expand fastest in the market at a CAGR of 5.24% because of the region's rising older population, especially in countries such as China and Japan. In Asia, government funding is lower, and most medical operations are paid for out of pocket. The eye care business must be expanded more successfully, particularly in the poorest countries of the Asia Pacific area. Japan and South Korea are the largest markets, but China will grow fastest due to rising healthcare expenses and increased economic development. Furthermore, the availability of potent generics, particularly in countries such as India, would boost the volume of anti-glaucoma medication. However, compared to other developing Asian Pacific areas, Japan will see the most growth in the surgical business.

Glaucoma treatment market share in the Middle East and Africa, and Latin America is low compared to other regions. Still, they are expected to grow moderately during the forecast period. These regions have seen considerable growth in their aging population, resulting in a higher frequency of glaucoma cases. According to the World Health Organization (WHO), the African region's population of adults aged 60 and more is expected to treble by 2050. As aging is a risk factor for glaucoma, this demographic shift has increased glaucoma treatment demand. Furthermore, some Latin American countries have attempted to improve eye care services and enhance healthcare access. Governments and healthcare providers have taken steps to improve access to glaucoma diagnosis and treatment, particularly in underprivileged regions.

Segmental Analysis

The global glaucoma treatment market is segmented based on disease type, drug class, distribution channel, and region.

Based on disease type, the market is bifurcated into Open Angle glaucoma, angle closure glaucoma, and others.

Open Angle glaucoma holds the major share and is expected to grow at a significant CAGR during the forecast period.

Open Angle Glaucoma

The most frequent kind of glaucoma, accounting for many cases, is open-angle. It is distinguished by a progressive and typically painless rise in intraocular pressure (IOP) caused by a blockage in the trabecular meshwork, the eye's drainage system. When the origin of OAG is not connected with other eye disorders, it is referred to as primary open-angle glaucoma (POAG).

Angle Closure Glaucoma

Angle-closure glaucoma is less prevalent than open-angle glaucoma, yet it can be more severe and symptomatic. It happens when the drainage angle between the iris and the cornea gets obstructed, resulting in an abrupt spike in IOP. ACG can be primary (no underlying eye ailment producing the closure) or secondary (related to other eye disorders).

Based on drug class, the market is sub-segmented into prostaglandin analogs, beta-blockers, adrenergic agonists, carbonic anhydrase inhibitors, and others.

Prostaglandin analog topped the market and is anticipated to grow at the highest CAGR during the forecast period.

Prostaglandin Analog

Prostaglandin analogs are a typical first-line glaucoma therapy. They lower intraocular pressure by improving the outflow of aqueous humor (fluid within the eye). Prostaglandin analogs are often delivered as eye drops and are well-known for their ease of use and once-daily dose.

Beta-Blockers

Beta-blockers are glaucoma drugs that reduce intraocular pressure. They act by lowering aqueous humor production in the eye. Beta-blockers are commonly available in eye drop form and can be taken alone or with other medications.

The market can be segmented based on distribution channels into online, hospital, and retail pharmacies.

Hospital pharmacy is the highest contributor to the market.

Hospital Pharmacy

The hospital pharmacy segment delivers glaucoma drugs via pharmacies situated within hospitals or medical institutions. Patients treated for glaucoma as inpatients or outpatients can get their drugs from the hospital pharmacy. Hospital pharmacies guarantee that glaucoma drugs are easily accessible to patients getting care in a hospital environment. These pharmacies are critical for glaucoma patients who want rapid drug access throughout their hospital stay.

Online Pharmacy

The online pharmacy segment refers to the distribution of glaucoma medications via internet-based platforms and e-commerce websites. Patients can order their glaucoma medications online and have them shipped directly to their homes. Online pharmacies offer patients who may have difficulty visiting physical pharmacies convenience and accessibility.

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