16-Mar-2023

Geriatric Population to sweep the Glaucoma Treatment Market, reaching US$ 8 Billion at a CAGR of 3.2% by 2033 | FMI

The global Glaucoma Treatment Market holds a valuation of US$ 5.7 Billion by the end of the year 2022. During the forecast period of 2023 to 2033, the market is expected to grow at a CAGR of 3.2%, with a market value of around US$ 8.0 billion in 2033.

The elderly population is more into getting infected by glaucoma these days. Additionally, it has been observed that the screen time of geriatric population with respect to smartphones and laptops has increased on a tremendous count in the last few years. This is evident from the fact that the International Agency of the Prevention of Blindness states that the year 2018 witnessed 1.9% of the population of the US aged 40 and above suffering from glaucoma. This figure surpassed 80 Million in 2020; especially after lockdowns being enforced all across.

The glaucoma treatment market is also subject to certain restraints. For instance – drug recalls pertaining to these therapeutics have become a common thing now. For example – Allergan had to recall 7 lots of Combigan and a lot of Lumigan as it failed to meet the regulatory standards. Such activities are likely to render the end-users skeptic regarding the usage of drugs for treating glaucoma. The likelihood of them opting for glaucoma surgeries would be higher then. However, the American Academy of Ophthalmology states that glaucoma, along with non-critical ophthalmic surgeries, should be avoided, especially the ones with comorbidities.

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Future Market Insights has entailed these facts with future perspectives in its latest market study entitled ‘Glaucoma Treatment Market’. It has its dedicated team of analysts and consultants to execute with a 360-degree view along its line of macros and micros.

“With benevolence regarding a slow progressing eye disorder called ‘glaucoma’, the global glaucoma treatment market is expected to grow at a noticeable rate in the near future”, says an analyst from Future Market Insights.

Key Takeaways from Glaucoma Treatment Market

North America holds a sizable market share with the US being subject to growing awareness about importance of eye care/associated treatments and diagnoses. As per the BrightFocus Foundation, over 3 Million Americans have contracted glaucoma, that too, with open-angle glaucoma being amongst the frequent types.
Europe stands second with Germany leading from the front. This could be reasoned with close to 500K people in Germany suffering from intraocular pressure. Plus, 10% of them hold the risk of going blind. It needs to be noted that acute glaucoma could strike any age group, but, with the passage of time, women turn out to be all the more vulnerable as compared to men.
The Asia-Pacific is expected to grow at a rapid pace in the glaucoma treatment market in the near future with India witnessing development of micro-invasive glaucoma drainage implants; which do offer a less intrusive and safer means to reduce IOP (intraocular pressure) in comparison with standard glaucoma surgery devices.

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Competitive Analysis

Senju Pharmaceutical Co., Ltd., in December 2019, did announce launching AIBETA, a combination drug for managing hypertension and glaucoma in Japan.
AbbVie Inc., in May 2020, did complete Allergan plc’s strategic acquisition. It has facilitated the former to portray itself as a leader in glaucoma treatment market.
Aerie Pharmaceuticals, in December 2021, inked a partnership with Santen Pharmaceuticals for developing and marketing Rocklatan/Roclanda and Rhopressa/Rhokiinsa all over Oceania, India, Europe, China, and LATAM.
Teva Pharmaceuticals, in March 2021, did announce the very first generic version of AZOPT (brinzolamide ophthalmic suspension) 1% for treating open-angle glaucoma along with ocular hypertension.

Key Companies Profiled:

AERIE Pharmaceuticals, Inc.
Cipla Inc.
Akorn Operating Company LLC
AbbVie
Bausch & Lomb Incorporated
Inoteck Pharmaceuticals
Merck & Co., Inc.
Novartis AG
Pfizer Inc.
Santen Pharmaceutical Co., Ltd.
Teva Pharmaceutical Industries Ltd.

What does the Report treat?

The research study is based on disease type (open angle glaucoma, angle closure glaucoma, and others), by drug class (prostaglandin analog, beta blockers, adrenergic agonist, carbonic anhydrase inhibitors, and likewise), and by distribution channel (hospital pharmacy, retail pharmacy, and online pharmacy).
With glaucoma resulting into one amongst the most commonly occurring ophthalmic disorders, the global glaucoma treatment market is bound to grow on a remarkable note in the near future.

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Key Market Segments Covered in Glaucoma Treatment Market Research

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

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Last Updated: 16-Mar-2023