According to the latest report by IMARC Group, titled "Glaucoma Therapeutics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global glaucoma therapeutics market reached a value of US$ 7 Billion in 2021. Glaucoma is an ocular disorder that damages the optic nerve of the patient. The structural changes in the optic nerves are usually caused by the abnormally high intraocular pressure (IOP) due to the extra build-up of fluid in the front part of the eyes. This condition can often lead to vision loss and permanent blindness in progressive cases. Numerous medications and therapies are prescribed to patients with glaucoma in order to avoid complete vision loss. Eye drops that belong to the class of beta-blockers, alpha agonists, prostaglandins and cholinergic are usually prescribed to reduce the production of fluid in the eyes. These drops can then be followed by conventional or laser surgeries for effective results. In several cases, a combination of both approaches is utilized for the treatment of glaucoma.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Glaucoma Therapeutics Market Trends:
The market is primarily driven by the increasing occurrence of glaucoma on the global level. This can be attributed to the rising number of patients who have diabetes due to their shifting lifestyle patterns and a lack of physical activities. This, along with the increasing geriatric population that is more susceptible to chronic ocular disorders, is providing a thrust to the market growth. Along with this, there has been a growing preference for the adoption of laser glaucoma surgeries among the patients as well as the healthcare professionals on account of the successful outcomes of this procedure. Multiple professionals are also prescribing combination therapies for the treatment of glaucoma that involves the use of polymer-based contact lenses, drug-eluting punctal plugs, implantable extended-release devices, microneedle-injection devices and micro-dosing technologies. Coupled with the increasing number of awareness programs conducted by multiple organizations to spread awareness regarding the availability of effective glaucoma therapeutics, this is creating a positive outlook for the market. Some of the other factors contributing to the market growth include the continual research and development (R&D) activities to introduce innovative therapeutics and the improving healthcare infrastructure across the globe, especially in developing economies. On account of the aforementioned factors, the market is expected to grow at a CAGR of
6.52% during 2022-2027.
- On the basis of the drug class, the market has been divided into prostaglandin analogs, beta blockers, alpha adrenergic agonists, carbonic anhydrase inhibitors, combination drugs and others.
- Based on the indication, the market has been classified into open angle glaucoma, angle closure glaucoma and others.
- On the basis of the end user, the market has been categorized into hospitals, ophthalmic clinics, ambulatory surgery centers and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Aerie Pharmaceuticals Inc., Allergan Plc, Bausch & Lomb Incorporated (Bausch Health Companies Inc.), Inotek Pharmaceuticals Corp., Merck & Co. Inc., Novartis AG, Pfizer Inc., Santen Pharmaceutical Co. Ltd., SIFI S.p.A, and Teva Pharmaceutical Industries Ltd.
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