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The glaucoma therapeutics market size is projected to reach US$ 8.02 billion by 2031 from US$ 6.24 billion in 2023. The market is expected to register a CAGR of 3.2% in 2023–2031. The development of novel drug delivery methods and combination therapies is likely to remain a key trend in the glaucoma therapeutics market.
Glaucoma Therapeutics Market Analysis
Glaucoma is a group of eye disorders characterized by the gradual loss of nerve tissue that would eventually lead to vision loss if left untreated. Prostaglandin analogs, are among the drugs that are highly effective in reducing eye pressure by promoting better drainage from the eye. The surging prevalence of glaucoma and increasing product launches are expected to favor the glaucoma therapeutics market growth.
Glaucoma Therapeutics Market Overview
The aging population worldwide has led to an increasing incidence of glaucoma, creating a significant opportunity for the glaucoma treatment market growth. The demand for innovative therapies and management strategies is rising due to the higher susceptibility of the aging demographic to the disease. Additionally, the importance of regular eye check-ups for early detection and management of glaucoma has increased patient engagement and demand for advanced treatments. As healthcare systems cater to the needs of an aging population, investments in glaucoma research, development, and access to care are expected to fuel market growth in the coming years.
Glaucoma Therapeutics Market Drivers and Opportunities
Mounting Glaucoma Disease to Favor Market
As per the Glaucoma Research Foundation, in 2022, ~ 80 million were affected with glaucoma globally. In 2010, nearly 8.4 million people worldwide had lost their vision due to primary open-angle glaucoma. According to the Glaucoma Research Foundation, the number is projected to increase to 22 million by 2040. This is expected to increase demand for treatments for glaucoma in the coming period. Propelling incidences of glaucoma among the global population is a major driver of the global glaucoma therapeutics market.
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Glaucoma Therapeutics Market: Strategic Insights
Market Size Value in US$ 6.24 billion in 2023 Market Size Value by US$ 8.02 billion by 2031 Growth rate CAGR of 3.2% from 2023 to 2031 Forecast Period 2023-2031 Base Year 2023
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Glaucoma Therapeutics Market: Strategic Insights
| Market Size Value in | US$ 6.24 billion in 2023 |
| Market Size Value by | US$ 8.02 billion by 2031 |
| Growth rate | CAGR of 3.2% from 2023 to 2031 |
| Forecast Period | 2023-2031 |
| Base Year | 2023 |
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Development of Wearable Technologies – An Opportunity in Customization of Glaucoma Therapeutics
Glaucoma is a major cause of blindness, and early detection and treatment are vital. Wearable glaucoma diagnostics and therapeutics have emerged as potential solutions. Conventional diagnostic techniques provide reliable intraocular pressure data, but emerging contact lenses such as Sensimed Triggerfish offer continuous IOP tracking. For therapy, drug-eluting contact lenses are emerging as a potential solution. Theranostic platforms combine diagnostic and therapeutic capabilities into a single device to offer real-time monitoring and personalized medication dosing.
Glaucoma Therapeutics Market Report Segmentation Analysis
Key segments that contributed to the derivation of the glaucoma therapeutics market analysis are drug class, indication, and distribution channel.
- Based on drug class, the glaucoma therapeutics market is divided into beta blockers, alpha-adrenergic agonists, prostaglandins analogs, carbonic anhydrase inhibitors, combination drugs, and others. The prostaglandins analogs segment held the largest market share in 2023.
- The market is segmented by indication into open angle glaucoma, angle closure glaucoma, and others. The open-angle glaucoma segment held the largest share of the market in 2023.
- In terms of distribution channel, the market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy segment dominated the market in 2023.
Glaucoma Therapeutics Market Share Analysis by Geography
The geographic scope of the glaucoma therapeutics Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
In 2022, nearly 2.7 million Americans were affected by open-angle glaucoma; glaucoma was the leading cause of irreversible blindness in the US. Due to rising incidences of glaucoma in the region, North America held the largest share in 2022. The growing proclivity toward novel combination therapies and minimally invasive glaucoma treatments and the presence of key market players in North America are factors contributing to the growth of the glaucoma therapeutics market in the region.
Glaucoma Therapeutics Market News and Recent Developments
The glaucoma therapeutics market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for glaucoma therapeutics:
- The US Food and Drug Administration (FDA) approved Glaukos Corporation’s New Drug Application (NDA) for a single administration per eye of iDose TR (travoprost intracameral implant) 75 mcg, a prostaglandin analog indicated for the reduction of intraocular pressure (IOP) in patients with ocular hypertension (OHT) or open-angle glaucoma (OAG). (Source: Glaukos Corporation, Company News, 2023)
- Alcon announced the acquisition of Aerie Pharmaceuticals, Inc. Through the transaction, the company acquired Rocklatan (netarsudil and latanoprost ophthalmic solution) 0.02%/0.005% and Rhopressa (netarsudil ophthalmic solution) 0.02%, along with AR-15512, a Phase 3 product candidate for dry eye disease, and a pipeline of several clinical and preclinical ophthalmic pharmaceutical product candidates. Rocklatan and Rhopressa are Rho-kinase inhibitors indicated for the reduction of elevated IOP in patients with open-angle glaucoma or ocular hypertension. The acquisition is expected to broaden Alcon’s portfolio across glaucoma, retina, and ocular surface disease. (Source: Alcon, Press Release, 2022)
GLAUCOMA THERAPEUTICS Market Report Coverage and Deliverables
The “Glaucoma Therapeutics Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Drug Class, Indication, Distribution Channel, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The glaucoma therapeutics market by drug class, is divided into beta blockers, alpha-adrenergic agonists, prostaglandin analogs, carbonic anhydrase inhibitors, combination drugs, and others. The prostaglandin analogs segment held a larger market share in 2023.
The glaucoma therapeutics informatics was valued at US$ 6.24 billion in 2023.
Key factors driving the glaucoma therapeutics informatics growth are the surging prevalence of glaucoma and increasing product launches.
The glaucoma therapeutics market majorly consists of the players, including Inoteck Pharmaceuticals; Merck & Co., Inc.; Novartis AG; Pfizer Inc.; Santen Pharmaceutical Co., Ltd.; Teva Pharmaceutical Industries Ltd; Takeda Pharmaceutical Company; AstraZeneca PLC; AERIE Pharmaceuticals, Inc.; and Cipla Inc.
Glaucoma is a group of eye disorders characterized by the gradual loss of nerve tissue that would eventually lead to vision loss if left untreated. Prostaglandin analogs are among the drugs that are highly effective in reducing eye pressure by promoting better drainage from the eye.
The glaucoma therapeutics market is expected to be valued at US$ 8.02 billion in 2031.
The List of Companies - Glaucoma Therapeutics Market
- Fera Pharmaceuticals
- GlaxoSmithKline plc
- Bristol Myers Squibb
- Eli Lilly and Company
- Amgen
- MannKind Corporation
- Sangamo Therapeutics
- SciClone Pharmaceuticals, Inc.
- Critical Therapeutics, Inc.
- Takeda Pharmaceutical Company
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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