(MENAFN- Straits Research) Glaucoma is a chronic eye disease characterized by optic nerve damage, which can lead to progressive vision loss if left untreated. While glaucoma has no cure, several treatment alternatives are available to manage the disease and prevent its progression. These treatments are intended to lower intraocular pressure (IOP), a major risk factor for optic nerve damage in glaucoma.
According to the Global Glaucoma Treatment market research, Glaucoma Treatment is rapidly increasing. This rise can be attributed to varifactors, including growing glaucoma prevalence, technological advances in treatment options, improved awareness and screening programs, rising healthcare costs, and geographical differences. North America has the biggest market share for glaucoma therapy, followed by Europe and Asia-Pacific.
Market Dynamics
Rising Prevalence of Glaucoma Propels the Global Market
Glaucoma's rising prevalence necessitates treatments. Glaucoma treatment market development is likely as more people are diagnosed and seek treatment. This includes glaucoma drugs, surgeries, and devices. The WHO estimates that 78 million people have glaucoma. Due to an aging population and risk illnesses like diabetes and hypertension, the number is predicted to climb rapidly. Glaucoma is growing due to older adults' usage of laptops and cell phones. In 2018, 1.9% ofadults over 40 had glaucoma, according to the IAPB. The Agency estimates that 80 million people will have glaucoma by 2020.
However, the glaucoma drug approval procedure is stringent, and a product may be withdrawn or rejected for safety, bioavailability, pharmacological performance, efficacy, PH properties, and toxicity. In 2023, Apotex Corp. recalled 22,027 timolol maleate ophthalmic solution vials because samples failed stability tests. Glaucoma drugs might have negative effects. Prostaglandin analogs, beta-blockers, and Rho kinase inhibitors can produce eye redness, itching, and stinging. Major therapeutic medication recalls affect market growth. Allergan had to recall one Lumigan and seven Combigan batches because they violated regulatory and impurity standards before being administered to patients. Healthcare professionals and patients may distrust glaucoma drugs touted by regulatory recalls. Gadgets that promise long-term benefits, efficacy, and low adverse effects may further affect therapy acceptability in this market. Thus, the glaucoma therapy market share may suffer.
Rapid Advancements in Technology Within the Ophthalmology Sector Create TremendOpportunities
The increasing prevalence of glaucoma directly affects the demand for glaucoma treatments. As more individuals are diagnosed with glaucoma and pursue alternative treatments, the market for glaucoma treatments will likely expand. This includes numerpharmacological medications, surgical procedures, and medical devices to treat glaucoma. The World Health Organization (WHO) estimates that approximately 78 million people worldwide suffer from glaucoma. Due to factors such as an aging population and the prevalence of risk conditions such as diabetes and hypertension, the number is projected to increase considerably. The increased use of devices such as laptops and smartphones by the elderly population contributes to the rising prevalence of glaucoma. In 2018, according to the International Agency for the Prevention of Blindness, approximately 1.9% of the over-40 population in the United States had glaucoma. In addition, the Agency forecasts that by 2020, approximately 80 million people worldwide will have glaucoma.
Regional Insights
North America prevails in this industry due to its advanced hospital diagnosis and treatment systems. Good diagnostics allow early discovery because the ailment progresses gradually. FDA approvals and therapeutic drug releases are driving the region's growth. Due to rising glaucoma rates and better healthcare infrastructure, themay be the largest glaucoma treatment market. The BrightFoFoundation reports that more than 3 million Americans suffer from glaucoma, most open-angle. Glaucoma damages theeconomy by USD 2.86 billion in direct spending and productivity losses. Manygroups are boosting glaucoma awareness, which should boost the market.
Europe's favorable reimbursement environment could boost glaucoma therapy use. Glaucoma therapies are now authorized and sponsored by the NHS for UK citizens. Germany dominates European glaucoma therapy. Glaucoma causes blindness worldwide. Over 500,000 Germans have high intraocular pressure and a 10% risk of blindness. Unreported cases may be far higher. Glaucoma affects men and women younger. Age raises the risk of acute glaucoma. Females are more vulnerable. After 2006, German glaucoma treatment became more efficient as it moved from old to modern methods and met strict payback standards, according to hospital quality inspections.
Key Highlights 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).
The market is segmented by disease type into Open Angle Glaucoma, Angle Closure Glaucoma, and Others. Open Angle Glaucoma holds the largest market share and is anticipated to grow at a substantial CAGR over the forecast period. Based on drug class,
the market is subdivided into prostaglandin analogs, beta-blockers, adrenergic agonists, carbonic anhydrase inhibitors, and others. The prostaglandin analog dominated the market and is projected to grow at the highest CAGR over the forecast period. The market can be segmented based on distribution channels into online, hospital, and retail pharmacies. Hospital pharmacies contribute the most to the market. Depending on the region, the market is analyzed in North America, Asia-Pacific, Europe, and LAMEA. North America dominates the market.
Competitive Landscape of the Global Glaucoma Treatment Market
The key players in the global glaucoma treatment market are Merck & Co., Inc., Novartis AG, AERIE Pharmaceuticals, Inc., Akorn Operating Company LLC, Cipla Inc., AbbVie, Bausch & Lomb Incorporated, Inotek Pharmaceuticals, Pfizer Inc., Teva Pharmaceutical Industries Ltd., and Santen Pharmaceutical Co., Ltd.
Market News In June 2023,
Merck successfully acquired PromethBiosciences, Inc. In July 2023,
by acquiring DTx Pharma, Novartis expanded the capabilities of its neuroscience pipeline and RNA platform. In June 2023,
AbbVie and Genmab will announce positive Phase 1/2 EPCORETM NHL-1 Trial Topline Results Evaluating Epcoritamab (DuoBody®-CD3xCD20) in Patients with Relapsed/Refractory Follicular Lymphoma (FL).
Global Glaucoma Treatment Market: Segmentation
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
By Region North America Europe Asia-Pacific Middle East and Africa Latin America