The global glaucoma market size was estimated at USD 8.06 billion in 2022 and it is projected to hit around USD 12.69 billion by 2032, growing at a CAGR of 4.64% from 2023 to 2032. The glaucoma market in the United States was accounted for USD 3 million in 2022.
The global glaucoma market size was estimated at USD 8.06 billion in 2022 and it is projected to hit around USD 12.69 billion by 2032, growing at a CAGR of 4.64% from 2023 to 2032. The glaucoma market in the United States was accounted for USD 3 million in 2022.
Key Pointers
- North America accounted for the largest revenue share of 39% in 2022.
- The open-angle glaucoma segment held the largest market share of 77% in 2022 and is projected to maintain its dominance over the forecast period.
- The prostaglandins analogs segment held the largest market share of 42 % in 2022.
- The hospital pharmacy segment held the largest market share of 49% of the glaucoma market in 2022.
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Growth Drivers
The main driver of the market expansion during the projection period will be the numerous pipeline medicines for the condition that are currently being developed. A novel drug for the treatment of glaucoma was created in collaboration by the Department of Medicinal Chemistry and the Institute for Therapeutics Discovery & Development (ITDD) at the University of Minnesota, College of Pharmacy.
To lower the patients’ episcleral vascular resistance, the team developed the medicine QLS-101, a novel prodrug of the KATP connection opener levcromakalim. 2019 saw the issuance of a Qlaris Bio licence for QLS-101, which has since begun phase I/II clinical studies.
Skye Bioscience also appointed CMAX Clinical Research to carry out a Phase I trial for SBI-100 Ophthalmic Emulsion in April 2022. Skye will receive assistance from CMAX, one of the most renowned trial operators in the world who specializes in early-phase trials, with subject recruiting and Skye will give the trial medication to healthy participants. Thus, over the course of the projected period, product launches and clinical trial products drive the growth of the glaucoma market.
Disease Type Insights
The open-angle glaucoma segment held the largest market share of 77% in 2022 and is projected to maintain its dominance over the forecast period. This is due to the increasing incidence of age-associated eye disorders such as blur vision, vascular disorders, and sleep apnea. The increasing adoption of hyposensitive medications to reduce intraocular pressure is anticipated to propel segment growth.
Globally, the open-angle glaucoma segment’s growth is responsible for a large increase in open-angle glaucoma incidence. As per the article published by the British Journal of Ophthalmology in July 2021, the POAG (Primary Open Angle Glaucoma), which affected 2% of adults over 40 and 10% of people over 75, was the most common type of glaucoma in the UK. The overall segment is growing as a result of the growing usage of hypotensive drops to reduce intraocular pressure.
Pharmaceutical companies made significant investments in developing novel medications for the treatment of open-angle glaucoma due to the disease’s high prevalence. In addition, multiple businesses recently received approval for their open-angle glaucoma treatments and products. Aerie Pharmaceuticals, for instance, reported in March 2019 that the US FDA has approved Rocklatan 0.02%/0.005% dose to lower increased IOP for people with open-angle corneal glaucoma or visual hypertension. In May 2019, the business introduced the Rocklatan in the US. Therefore, late-stage clinical medications and recently approved pharmaceuticals are anticipated to drive the market’s growth over the forecast period.
Drug Class Insights
The prostaglandins analogs segment held the largest market share of 42 % in 2022, which can be attributed to the growing use of prostaglandin medications in combination therapy. It is aimed at lowering intraocular pressure (IOP) and has fewer adverse effects than other treatments, which is expected to propel the market demand. Due to the increasing popularity, effectiveness, and ease of use (typically administered once daily), prostaglandin analogs are predicted to grow at the fastest pace during the forecast period; ophthalmologists choose attributable to high efficacy and favorable safety profile, prostaglandin analogs as a first-line therapy choice.
The four prostaglandin analogs that are on the market for the treatment of glaucoma are latanoprost, travoprost, and tafluprost. For instance, in June 2021, as per the reports published by the National Library Of Medicine In clinical trials, it was found that the ingestion of tafluprost, travoprost, and latanoprost had a 14.03%, 14.70%, and 12.28% IOP(elevated intraocular pressure)-lowering effect. Since the optic nerve and lamina cribrosa can withstand a limited amount of IOP stress before developing glaucoma, extremely low IOP may be considered a component that stops the disease from progressing.
Over time, the prostaglandin analogs segment has experienced a tremendous revenue generation surge, propelled by rising glaucoma prevalence, an aging population, and rising awareness and diagnosis of the disease. To provide patients with practical treatment alternatives, fixed-dose combination drugs have been introduced in the market. For instance, as per the article published on October 2019 by the European Journal Of Ophthalmology, patients with open-angle glaucoma or ocular hypertension were given the twice-daily 1% of brinzolamide /0.2% of brimonidine (twice daily) with the fixed-dose combination (BBFC) as an addition to a prostaglandin analog to assess the additive intraocular pressure-lowering impact.
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Distribution Channel Insights
The hospital pharmacy segment held the largest market share of 49% of the glaucoma market in 2022. The inclination of patients, particularly the elderly population, to receive treatment in outpatient settings is a major factor in the segment’s rise. Hospital pharmacies are located at specialized glaucoma clinics. These clinics have qualified optometrists and ophthalmologists who can perform comprehensive eye exams and prescribe accurate treatments. As a result, patients can conveniently receive specialized care in the comfortable environment of a hospital pharmacy.
Hospital pharmacies dispense prescription medicines used to treat glaucoma, including eye drops that lower intraocular pressure and, in some situations, oral drugs. To ensure proper drug selection, dosage, and patient counseling, pharmacists are essential. Hospital pharmacies are a source for patients seeking additional assistance or information on their disease. This may be providing resources for financial assistance programs, connecting people with support groups, or referring them to ophthalmologists or other eye care specialists.
The online pharmacy segment is expected to show the fastest CAGR over the forecast period. For patients that avoid going to a physical store, online pharmacies offer a simple and convenient alternative for buying prescription drugs. Convenience, affordable prices, and simple access to a broad selection of pharmaceuticals are reasons the online pharmacy market has increased recognition. When it comes to prescription renewals and maintenance treatments, patients with chronic diseases find it helpful to obtain their drugs online. Home delivery services are provided by online pharmacies, which further gives the segment a competitive edge.
Regional Insights
North America accounted for the largest revenue share of 39% in 2022 due to the significant rise in the number of dry eye patients, who are more susceptible to getting the illness. Increased prevalence and growing public knowledge of eye diseases are factors in the region’s growth. Additionally, it is projected that major firms’ increased advancements in research and development will support regional economic growth.
Glaucoma was considered to be the major cause of blindness among individuals over 60 in North America in 2020, according to the CDC. North America has a complex healthcare system and high levels of healthcare spending that improve patient access to diagnosis and novel treatment alternatives. A robust infrastructure for research and development is present in the area, enabling the development of novel therapies and technologies.
Asia Pacific is estimated to grow fastest during the forecast period. There have been improvements in disease treatment choices recently, including the introduction of new drugs. These developments are intended to give patients, especially those with severe or refractory glaucoma, safer and more effective choices. Government rules, insurance plans, the state of the healthcare system, and the disease’s prevalence all impact the market in this region.
Additionally, partnerships among international organizations, regional healthcare providers, and pharmaceutical firms contribute to expanding access to disease treatment and enhancing public and professional understanding of the condition. For instance, in March 2021, IRIDEX Corporation entered into a strategic agreement with TOPCON CORPORATION to develop drug products to treat glaucoma and other retinal diseases.
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.
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Key Players
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.
Glaucoma Market Segmentations:
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
By Regional
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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