Global Glaucoma Treatment Market Insights Forecasts to 2032
- The Global Glaucoma Treatment Market Size was valued at USD 6.4 Billion in 2022.
- The Market Size is Growing at a CAGR of 5.0% from 2022 to 2032.
- The Worldwide Glaucoma Treatment Market size is expected to reach USD 10.5 Billion by 2032.
- Europe is expected To Grow the fastest during the forecast period.
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The Global Glaucoma Treatment Market Size is expected to reach USD 10.5 Billion by 2032, at a CAGR of 5.0% during the forecast period 2022 to 2032.
Glaucoma is a group of progressive optic neuropathies characterized by alterations in the optical nerve head as a result of degeneration of the retinal nerve fiber layers and retinal ganglion cells. The main risk factor is high intraocular pressure (IOP), which can harm the optic nerve. If this structure is continuously harmed, it may result in irreversible visual field abnormalities, visual impairment, and blindness. The primary factor in permanent blindness worldwide is glaucoma. Gender, race, myopia, family history, genetics, age, frailty, vasospasm, smoking, systemic hypotension, systemic hypertension, obstructive sleep apnea syndrome, migraine, steroid use, and elevated IOP are all risk factors. These elements will increase consumer interest in the glaucoma treatment market.
This research report categorizes the global glaucoma treatment market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global glaucoma treatment market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global glaucoma treatment market. Technological innovation and advancement will further optimize the performance of the product, enabling it to acquire a wider range of applications in the downstream market.
Global Glaucoma Treatment Market Report Coverage
|Market Size in 2022:||USD 6.4 Billion|
|Forecast Period 2022-2032 CAGR:||5.0%|
|2032 Value Projection:||USD 10.5 Billion|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||110|
|Segments covered:||By Disease Type, By Drug Class, By Distribution Channel, By Region, and COVID-19 Impact Analysis.|
|Companies Covered:||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., Santen Pharmaceutical Co., Ltd., and Other Key Venders|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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The need for glaucoma medicines is directly influenced by glaucoma's rising incidence. The likelihood of market growth is strong as more glaucoma patients seek out non-traditional treatments. This includes numerous pharmaceutical treatments for glaucoma, surgical procedures, and medical equipment. The World Health Organization (WHO) estimates that 78 million people worldwide suffer from glaucoma. Due to the aging population and the prevalence of risk illnesses like diabetes and hypertension, it is anticipated that the number will increase considerably. Glaucoma is becoming more common among older people, in part because of their growing use of technology like laptops and cell phones.
The glaucoma drug approval process is stringent, and it is occasionally required to remove or reject a product from the market due to safety worries and for several other reasons, including bioavailability, drug performance, efficacy, PH properties, and toxicity.
- In 2022, the open angle glaucoma segment is dominating the largest market share during the forecast period.
Based on disease type, the global glaucoma treatment market is segmented into different segments such as open angle glaucoma and angle closure glaucoma. Among these segments, the open angle glaucoma segment is expected to have significant development potential during the forecast period. The growth of the segment is attributed to the high prevalence of open angle glaucoma worldwide. For instance, as per the British Journal of Ophthalmology, POAG is the most common type of glaucoma in the UK that affects 2% of people older than 40 years and 10% of people older than 75 years. Moreover, the growing usage of hypotensive drops to reduce intra-ocular pressure is contributing to the overall segmental expansion.
- In 2022, the prostaglandin analogs segment is influencing the market with the largest market share during the forecast period.
On the basis of drug class, the global glaucoma treatment market is bifurcated into different segments such as prostaglandin analogs, beta blockers, adrenergic agonists, and carbonic anhydrase inhibitors. Among these segments, the prostaglandin analogs segment is dominating the market with the largest revenue share during the forecast period owing to the increasing accessibility and availability of ophthalmic medications worldwide. Segmental demand will increase due to the widespread use of prostaglandin analogs to treat glaucoma and lower intraocular pressure, which has a number of advantages including once-daily dosage efficacy. There are also expected to be significant potential prospects in the market due to rising demand for prostaglandin medications used in combination therapy. Also, growing awareness about early glaucoma treatment along with the rising patient population undergoing early glaucoma disease diagnosis will further boost the overall market statistics.
- In 2022, the hospital pharmacy segment is dominating the largest market share during the forecast period.
On the basis of distribution channel, the global glaucoma treatment market is bifurcated into different types such as hospital pharmacy, retail pharmacy, online Pharmacy. Among these segments, the hospital pharmacy segment is dominating the market with the largest revenue share during the forecast period owing to the hospital pharmacy segment providing glaucoma medications through pharmacies housed within hospitals or other healthcare facilities. The hospital pharmacy can provide medication to patients who are receiving treatment for glaucoma as inpatients or outpatients. For patients receiving care in a hospital setting, hospital pharmacies ensure that glaucoma medications are readily available. Patients with glaucoma who need quick access to medications throughout their hospital stay depend on these pharmacies.
Regional Segment Analysis of the Glaucoma Treatment Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America led the market with the largest market share during the forecast period
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North America is dominating significant market growth over the forecast period due to its outstanding hospital diagnosis infrastructure and treatment framework. Good diagnostic procedures enable early discovery as the condition gradually gets worse. The rise of the region is being propelled by an increase in the number of FDA approvals and drug launches for the therapy. Due to rising incidence and improved healthcare infrastructure, the United States will probably represent the largest market.
Europe is expected to experience high revenue market growth during the forecast period due to Glaucoma treatments becoming more popular due to Europe's favorable reimbursement environment. The National Health Service (NHS) now offers glaucoma treatments to people living in the UK as part of its list of approved, subsidized therapeutic commodities. The largest market share in Europe has been recorded by Germany.
The report offers the appropriate analysis of the key organizations/companies involved within the global glaucoma treatment market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Merck & Co. Inc.
- Novartis AG
- AERIE Pharmaceuticals, Inc.
- Akorn Operating Company LLC
- Cipla Inc.
- Bausch & Lomb Incorporated
- Inotek Pharmaceuticals
- Pfizer Inc.
- Teva Pharmaceutical Industries Ltd.
- Santen Pharmaceutical Co., Ltd.
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In July 2023, Novartis increased the capabilities of its xRNA platform and its pipeline for neurology by purchasing DTx Pharma.
- In June 2023, Epcoritamab (DuoBody®-CD3xCD20) is being tested in patients with relapsed/refractory follicular lymphoma (FL) in the Phase 1/2 EPCORETM NHL-1 Trial, which was conducted by AbbVie and Genmab.
- In December 2021, to develop and market Rhopressa/Rhokiinsa and Rocklatan/Roclanda for the treatment of glaucoma in Europe, India, China, countries in Oceania, and parts of Latin America, Aerie Pharmaceuticals, Inc. partnered with Santen Pharmaceuticals. These will strengthen both businesses' positions in the market in these regions.
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Glaucoma Treatment Market based on the below-mentioned segments:
Global Glaucoma Treatment Market, By Disease Type
- Open Angle Glaucoma
- Angle Closure Glaucoma
Global Glaucoma Treatment Market, By Drug Class
- Prostaglandin Analogs
- Beta Blockers
- Adrenergic Agonists
- Carbonic Anhydrase Inhibitors
Global Glaucoma Treatment Market, By Distribution Channel
- Hospital pharmacy
- Retail pharmacy
- Online Pharmacy
Glaucoma Treatment Market, By Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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