Glaucoma Treatment Market Set to Surge at 4.3% CAGR, to Reach USD 9.1 billion by 2031 | Transparency Market Research, Inc.
Increasing research and innovation in various treatment options will drive demand for glaucoma treatment.
Wilmington, Delaware, United States, Dec. 19, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The glaucoma treatment market was valued at US$ 6.3 billion in 2022. A CAGR of 4.3% is projected from 2023 to 2031, reaching US$ 9.1 billion. Research is being done on several glaucoma treatments, and innovations are being made. Researchers are investigating many promising new treatments for glaucoma, but none are currently available for treating patients.
Researchers at the National Eye Institute (NEI) are working on developing new treatments for glaucoma. As a result, effective glaucoma treatments are being developed. Medical interventions and devices for treating glaucoma are being developed at a rapid pace. Microinvasive glaucoma surgery (MIGS) devices, offering minimally invasive treatment options, are becoming more popular. A comparison of these devices with traditional glaucoma surgery may show that the devices reduce complications and improve results.
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As genetics and molecular biology of glaucoma have become more understood, personalized treatment approaches have become increasingly important. In terms of managing glaucoma, doctors are increasingly focusing on tailoring treatments based on an individual’s characteristics and disease progression. Israeli startup Belkin Laser developed DSLT as an alternative laser treatment. Using an automated system, it is performed rapidly, non-contact, and without the use of gonioscopy. Several preliminary clinical trials have demonstrated that DSLT is safe and effective for reducing intraocular pressure (IOP) in people with open-angle glaucoma.
Key Findings of the Market Report
- Prostaglandin Analogs (PGAs) will likely create a market for glaucoma treatments in the coming years.
- In terms of indication, open-angle glaucoma (OAG) segment is anticipated to drive the market for glaucoma treatments.
- In 2023, North America’s well-established treatment infrastructure is expected to dominate the global glaucoma treatment market.
- Based on sales channels, hospital pharmacies are expected to increase demand for glaucoma treatments.
Global Glaucoma Treatment Market: Growth Drivers
- Aging is associated with glaucoma, and with an aging global population, the disease will become more prevalent. Increasing demographics contribute to glaucoma treatment markets. As technologies for diagnosing and treating glaucoma continue to develop, such as reduced-invasive surgical procedures and improved imaging techniques, the glaucoma market continues to grow.
- Eye health awareness and regular eye exams can help detect glaucoma at an early stage. As glaucoma is diagnosed early, it can be managed and treated better, which drives the market for glaucoma treatments. Policies and initiatives to improve eye health and treat conditions such as glaucoma can stimulate the market.
- Ophthalmology research and development can also be improved through increased funding. With the increase in healthcare expenditures, new glaucoma treatments are being developed, and existing therapies are being adopted. A consistent schedule of follow-up appointments and treatment adherence can positively impact the market for glaucoma treatment. Compliance with medication and procedures can improve outcomes and increase patient demand.
- Innovating glaucoma treatments is a continuous effort of the pharmaceutical and biotechnology industries. A new drug or therapeutic approach can positively impact the market. Several chronic conditions, including diabetes and hypertension, are often associated with glaucoma. Incidences of these diseases are on the rise globally, contributing to secondary glaucoma prevalence.
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Global Glaucoma Treatment Market: Regional Landscape
- North America is expected to lead the market for glaucoma treatments in the coming years. North America will experience growth as the adoption of advanced technology and the number of treatment options increase. The excellent infrastructure of the hospital, along with the treatment framework, will contribute to North America’s significant growth. Around 3 million Americans live with glaucoma in the United States alone, which is the second-leading cause of blindness worldwide.
- Various segments of the glaucoma treatment market in North America are present, including medical treatments, surgical interventions, and devices for micro-invasive glaucoma surgery (MIGS). PGAs are the fastest-growing drug class over the forecast period and are commonly used for glaucoma treatment. Numerous types of glaucoma are becoming more prevalent in North America, causing the market for glaucoma treatment to grow.
Global Glaucoma Treatment Market: Key Players
Several prominent players with global presence dominate the glaucoma treatment industry. Many glaucoma treatment drug producers are making generics, which is preventing the development of new therapies.
- Novartis AG
- Pfizer Inc.
- Merck & Co., Inc.
- Bausch & Lomb Inc.
- Allergan Plc
- Perrigo Plc
- Teva Pharmaceutical Industries Ltd.
- Akorn Inc.
- Mobius Therapeutics LLC
- In November 2023, Skye Bioscience Inc. announced the first patient had been treated in a phase 2 clinical trial (NCT06144918) testing SBI-100 ophthalmic emulsion’s (OE) safety and effectiveness in treating people with primary open-angle glaucoma (POAG) and ocular hypertension (OHT). An eye-opening news release released by SBI describes SBI-100 OE as a synthetic prodrug of tetrahydrocannabinol (THC) capable of binding and activating CB1 receptors.
- In December 2023, Jeil Pharmaceutical agreed to sell and supply Novartis Korea’s nine eye drop medicines (eye drops) for the treatment of glaucoma and conjunctivitis through an exclusive distribution agreement.
Global Glaucoma Treatment Market: Segmentation
By Product Type
- Prostaglandin Analogs (PGAs)
- Alpha Agonist
- Beta Blockers
- Carbonic Anhydrase Inhibitors
- Combined Medications
- Angle Closure Glaucoma (ACG)
- Open Angle Glaucoma (OAG)
- Secondary Glaucoma
- Congenital Glaucoma
- Other Indications
By Sales Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Sales
- North America
- Asia Pacific
- Rest of the World
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