Glaucoma Therapeutics Market

Glaucoma Therapeutics Market Snapshot (2022-2032)

[309 Pages Report] In 2022, the glaucoma therapeutics market is expected to be worth US$ 6.9 million. The overall demand for glaucoma therapeutics is expected to grow at a CAGR of 3.7% between 2022 and 2032, reaching around US$ 10.2 million by 2032.

• The growing geriatric population and improved diagnostic tools for detecting glaucoma are assisting in the growth of the glaucoma therapeutics market.
• A significant trend is the adoption of prostaglandin analogs.
• Glaucoma is becoming more common among the elderly. The increasing screen time of gadgets such as laptops and smartphones among the geriatric population contributes to the rising incidence of glaucoma.
• Increasing products in the pipeline and recent product launch to accelerate growth.
• Lifestyle change has caused a rise in glaucoma cases all over the world. As the overall prevalence of glaucoma rises, so may the market for glaucoma therapeutics.

The most common ways to treat glaucoma are eye drops, pills, traditional surgery, and laser surgery. The future holds the promise of glaucoma treatments based on nanotechnology, including sustained release implants and nano delivery systems, which will increase bioavailability, ensure sustained drug delivery, improve targeted administration, and decrease side effects when compared with topical drops.

Glaucoma treatment aims to prevent vision loss in patients. However, if the vision is already lost, the impact of glaucoma treatment will be irreversible. To effectively treat glaucoma, it is imperative to consume medications on a regular basis as prescribed by the physician. As a result, the global market has embraced the use of glaucoma drugs since there is a very few side effects associated with them.

It's estimated that one-tenth of the elderly suffer from glaucoma, and that number is expected to rise. In turn, glaucoma treatment options will increase the demand for therapeutics in the market. A significant share of the market for glaucoma therapeutics is expected to be occupied by prostaglandins. Due to its expanded use in first-line treatments for glaucoma, it has become more popular in the market. It's estimated that it's going to take over two-fifths of the glaucoma market.

Rapid Innovations in Therapeutic Interventions to Fuel Market Momentum

Continuous technological advancements in the field of ophthalmology are one of the major factors driving the glaucoma treatment market. Increased demand for advanced surgical procedures may propel industry growth potential.

Advances in optometric care such as medical imaging, selective laser trabeculoplasty (SLT), optical coherence tomography (OCT), visual fields, micro-invasive glaucoma surgery (MIGS), and progression analysis software may increase patient preference. The incorporation of laser treatments as first-line therapy alongside medication to treat glaucoma may expand the market size.

Glaucoma Predominance is Predicted to Accelerate Market Growth in the Coming Years

The general public's growing awareness of health issues, as well as their preference for laser glaucoma surgery, is driving the glaucoma therapeutics market growth. The development of novel drugs is making a significant contribution to the market's expansion.

It is expected that diagnostic techniques for glaucoma may advance in the coming years, along with an improved healthcare infrastructure, propelling the market to new heights. A surge in eye disorder awareness and education programs is expected to propel the market during the forecast period.

In addition to the rising geriatric population around the world, the market is expected to expand rapidly. But since doctors prefer laser surgery to treat glaucoma, the market is expected to expand in the future. The goal of developing sustained delivery technologies is to improve adherence to therapeutic regimens and therapeutic potential. Furthermore, advances in biological and gene therapies are indeed being evolved to reconfigure diseases, potentially leading to permanent treatments.

Sabyasachi Ghosh

Principal Consultant

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North America to Sustain its Dominant Position in the Glaucoma Therapeutics Market

Due to the market's strong healthcare infrastructure, glaucoma therapeutics is expected to thrive in North America. In 2022, the North American market is predicted to account for 30% of the total. North America is expected to dominate the market due to a strong interest in drug development across the healthcare industry.

The market in these regions is expected to expand substantially over the next few years as the prevalence of diabetes, ocular disorders, and the number of visually impaired people rises. The region's market share may be leveraged as a consequence of increased attention to therapeutic drug research and development.

Increased population awareness of glaucoma and access to reimbursements have all aided in the expansion of the market in these regions.

Glaucoma is the leading cause of childhood glaucoma in the United States. With over one million cases of glaucoma diagnosed each year, blacks and Hispanics are the most influenced in the United States. All of these factors contribute to the expansion of the glaucoma therapeutics market in these regions.

Product Launches and Product Expansions Remain Regular Episodes in the Market

Several new medications and treatment options are reshaping the glaucoma therapeutics market landscape. To meet the needs of patients, several new start-up companies are researching and developing first-line treatments in the market. The advancement of high-tech healthcare infrastructure and treatments is opening up new avenues for study and research.

• Launch:

Teva Pharmaceuticals launched the first generic version of AZOPT (brinzolamide ophthalmic suspension) 1% in the United States in March 2021 to treat open-angle glaucoma and ocular hypertension. This has increased the company's product portfolio.

• Collaboration:

Aerie Pharmaceuticals, Inc. and Santen Pharmaceuticals will collaborate in December 2021 to develop and commercialize Rhopressa/Rhokiinsa and Rocklatan/Roclanda for glaucoma treatment in Europe, India, China, Oceania countries, and parts of Latin America. These will strengthen both companies' market positions in these regions.

Glaucoma Therapeutics Demand Analysis (2017 to 2021) Vs Market Outlook (2022 to 2032)

The global demand for glaucoma therapeutics is projected to increase at a CAGR of 3.7% during the forecast period between 2022 and 2032, reaching a total of US$ 10.2 Million in 2032, according to a report from Future Market Insights (FMI). From 2016 to 2021, sales increased significantly, registering at a CAGR of 6.6%.

Diabetics and non-diabetics are both at risk of glaucoma. Glaucoma is also more likely to develop in people who suffer from diabetic retinopathy. In the past few decades, there has been an increase in demand for research and development of drugs for various eye diseases. As the healthcare industry continues to grow, government support is expected to increase as more funds are allocated for clinical trials for the discovery of novel drugs, and advanced surgical procedures.

A proliferation of healthcare institutions and drug development organizations will further boost glaucoma therapeutics' market share. Technology for minimally invasive surgeries is expected to significantly increase the market in the future. Another area being explored for therapeutic options is neuroprotection, which includes preserving retinal ganglion cells (RGCs) and the optic nerve. The therapeutic potential of neuro-protectants is close to being realized with advances in imaging technologies and new surrogate clinical endpoints. As a result, the market is expected to grow in the future.

Why is Glaucoma Therapeutics on the Rise in the Market?

Glaucoma Prevalence is expected to Boost Market Growth in the Coming Years

The change in lifestyle has led to an increase in glaucoma cases around the world. As glaucoma's prevalence increases worldwide, the market for glaucoma therapeutics is expected to grow in the market. A higher percentage of people over 60 suffer from glaucoma all over the world. Further, the increasing awareness of health issues among the general population and the increasing preference for laser glaucoma surgery are also contributing to the growth of the market.

The development of innovative drugs is also contributing to the growth of the market. In the coming years, it is anticipated that diagnostic techniques for glaucoma will become more advanced, along with an enhanced healthcare infrastructure that will drive the market to new heights. A surge in awareness and education programs regarding eye disorders is likely to drive the global glaucoma therapeutics market during the forecast period.

In addition to the growing geriatric population across the globe, the glaucoma therapeutics market is also expected to grow at a robust rate over the forecast period. With doctors preferring laser surgery for treating glaucoma, the glaucoma therapeutics market is set to grow in the future. The development of sustained delivery technologies aims to increase compliance with treatment regimens and therapeutic benefits. In addition, innovations from biological therapies and gene therapies are being developed to modify diseases, which may result in permanent treatments.

Why has the Glaucoma Therapeutics Market Experienced a Slow Growth Rate in the Market?

Recalls of Major Pharma Drugs will hinder Growth of Glaucoma Therapeutics in the Market

The lack of awareness about glaucoma treatment may limit the growth of the glaucoma therapeutics market. Furthermore, underdeveloped economies and limited access to skilled professionals for laser surgery will hinder the growth of glaucoma therapeutics. There would be a significant impact on market growth if major players recalled their drugs for glaucoma treatment.

As a result of regulatory constraints and approvals associated with glaucoma medications, the glaucoma therapeutics market is expected to remain stagnant in the near future. In the near future, inappropriate glaucoma treatments, adverse drug reactions, and the growth of generic drugs are expected to restrain the global glaucoma market.

Region-wise Insights

Will North America Continue Dominance in the Global Glaucoma Therapeutics Market?

Glaucoma therapeutics are expected to flourish in North America due to its high healthcare infrastructure in the market. The North American glaucoma therapeutics market is expected to accumulate a market share of 30% in 2022. Due to a profound interest in drug development across healthcare industries, North America is anticipated to be the largest glaucoma therapeutics market.

As the prevalence of diabetes, ocular disorders, and the number of visually impaired people increases, the glaucoma therapeutics market in these regions is expected to grow significantly over the next few years. As a result of increased attention to therapeutic drug research and development, the region's market share will be leveraged. Increasing awareness of glaucoma among the population, and access to reimbursements, have all contributed to the growth of the glaucoma therapeutics market in these regions.

The majority of childhood glaucoma cases in the United States are caused by glaucoma. Approximately one infant out of every 10,000 suffers from this condition. Thus, there is a high demand for glaucoma therapeutics in the US. According to estimates, 2.7% of American adults over 40 have open-angle glaucoma, causing a high demand for therapies.

The number of Americans suffering from blindness or low vision is estimated to be 3.3 million or more people over the age of 40. Around 80 million people, or over 111 million by 2040, are estimated to suffer from glaucoma worldwide. Approximately $2.86 billion is lost to the U.S. economy every year due to direct costs and productivity losses associated with glaucoma. Blacks and Hispanics are the most affected in the United States with over one million cases of glaucoma a year. These factors all contribute to the growth of the market for glaucoma therapeutics in these region.

What will be the Trajectory of the Market Growth for Glaucoma Therapeutics in Europe?

Europe is expected to hold a market share of 28% in 2022 in the glaucoma therapeutics market. Due to the rise in technology development in drug tools in Europe, there are also potential growth opportunities in glaucoma therapeutics in the market.

The leading cause of irreversible blindness in Western Europe appears to be glaucoma, followed by age-related macular degeneration. Globally, 2.93% of people between the ages of 40 and 80 have glaucoma. People in their 40s to 80s are also more likely to suffer from open-angle glaucoma, which has a prevalence rate of 2.51%.

Furthermore, the presence of significant key players would drive the growth of the region's glaucoma therapeutics market throughout the projection period. A growing pharmaceutical industry in Europe will also generate opportunities for the market during the forecast period.

Category-wise Insights

By Treatment Type, which Glaucoma Therapeutics Category will remain prominent?

Glaucoma Therapeutics Medication to beat the competition in unending markets

The use of medication for treating glaucoma is expected to drive the market in 2022. There is a high potential for growth in the market in the near future, attracting investments from companies manufacturing therapeutics for glaucoma in the market.

To combat glaucoma, researchers have developed a method involving twice-yearly injections to maintain the pressure in the eye that will replace daily eye drops and surgery as a method of combating this condition. A non-profit organization, the Glaucoma Research Foundation, received a donation of $1.5 million for a project aimed at restoring vision. To support interdisciplinary research projects, additional funds will be provided to organizations like the National Eye Institute.

The development of medicines and delivery methods to aid in the market development of glaucoma medications. As part of glaucoma treatments, multiple professionals prescribe combination therapies such as polymer-based contact lenses, implantable devices with longer release times, drug-eluting punctal plugs, and micro-injections. Injectable medications will grow at a rapid pace in the market for glaucoma therapeutics as a result of these factors.

By Glaucoma Type, which Therapeutics Segment is expected to dominate the Market?

Based on glaucoma type the market is segmented into open-angle glaucoma and closed-angle glaucoma type. According to Future Market Insights, the market for open-angle glaucoma therapeutics is expected to grow at a projected period in the market. In comparison to other types of glaucoma, this disorder has a high prevalence. Additionally, most medications for treating open-angle glaucoma are currently available for angle glaucoma, which represents the category as a dominant segment in the market.

A variety of sociodemographic factors influence the prevalence of primary open-angle glaucoma (POAG). Researchers are investigating variations in POAG prevalence by age, gender, and location among the general adult population worldwide over the last 20 years. A substantial amount of funding has been directed to drug development, clinical trials, and awareness campaigns by key healthcare and pharmaceutical stakeholders. Laser surgery, incisional surgery, as well as oral medication is currently being sold as alternative treatment approaches in the market.

How Start-up Companies are Increasing Glaucoma Therapeutics in the Market?

Several new medications as well as treatment alternatives are transforming the landscape of glaucoma therapeutics in the market. In order to address the needs of the patients, several new start-up companies are researching and developing first-line treatments in the market. The development of high-end healthcare infrastructure and treatments is creating new opportunities for studies and research in this sector.

• Nanodropper, Inc., established in 2018 in USA, developed a patient-centered eyedrop bottle adapter that reduces current oversized eyedrop bottles by more than 60%. By reducing costs, reducing waste, and minimizing potential side effects, this firm was able to help reduce vision-saving treatments' costs and waste.
• Novai, a solution from DARC Technology, combines its patented biologic with an AI algorithm. The DARC technique can identify cellular involvement in disease for the first time in humans with the use of standard imaging equipment. A retinal biomarker developed by DARC Technology is being investigated in clinical studies for AMD and glaucoma. The company was founded in 2020, and its headquarters are located in the UK.
• NeuBase Therapeutics was founded in 2018 in the USA. This firm is utilizing synthetic medicines to accelerate the genetic revolution. With NeuBase's PATrOLTM therapies, NeuBase addresses genetic diseases at their source using its proprietary drug scaffold that combines the highly targeted approach of traditional genetic therapies with small molecules' broad organ distribution capabilities. The NeuBase aims to transform medicine for millions of people with both common and rare diseases by inhibiting disease-causing mutations in neurological, neuromuscular, and oncological disorders.

Market Competition      

A strategic collaboration lets manufacturers increase production and meet consumer demand, which means more revenue and market share. Using new products and technologies, end users will be able to benefit from eco-friendly products that are designed by nature in order to preserve the environment.

Some of the key participants present in the global gaming hardware market include Competition Deep Dive, Allergan, Merck & Co., Inc, Akorn, Inc, Bausch & Lomb Incorporated, Oculis S.A., Teva Pharmaceuticals, Alcon, Pfizer, Santen, Nanodropper, Inc., Novai, NeuBase Therapeutics, Ocular Therapeutix, Aerie Pharmaceuticals Inc, and Inotek Pharmaceuticals Corp.

Key developments in the market are as follows:

• In February 2022, Ocular Therapeutix reported interim Phase I data for its product candidate OTX-TIC, which demonstrated that a single implant can effectively reduce intraocular pressure (IOP) over long periods of time without sacrificing corneal health. OTX-TIC is currently being evaluated for the treatment of primary open-angle glaucoma and ocular hypertension in Phase II prospective, randomized, controlled trial in the US.
• In March 2022, Oculis S.A., a global ophthalmology research and development organization focusing on lifesaving and improved eye care through breakthroughs, and Accure Therapeutics, a translational neuroscience research and development company, announced a licensing agreement for the development and commercialization of ACT-01, a potential disease-modifying therapy for protecting the optic nerve and retina. ACT-01, which has been renamed OCS-05, is a novel small molecule with neuroprotective properties that have shown positive results in animal models of neuroinflammation and neurodegeneration. As part of its current expansion plans, Oculis is working with regulatory agencies in the US, EU, and China.
• In August 2022, Alcon acquired glaucoma drug maker Aerie Pharmaceuticals for $770 Million, betting its expansive commercial reach would propel sales of Aerie's two drugs. By acquiring Aerie Pharma, Alcon is gaining two commercialized glaucoma products and a pipeline of other eye disease programs. With the aim of bolstering its eye product portfolio and pipeline, Alcon has been active in M&A. The company will pay $15.25 per share for Aerie, a 37% premium to its closing price.

Report Scope

Key Segments Covered in the Glaucoma Therapeutics Industry Analysis

Glaucoma Therapeutics Market by Treatment Type:

• Eye Drops Glaucoma Therapeutics
• Medication Glaucoma Therapeutics
• Laser Surgery Glaucoma Therapeutics
• Traditional Surgery Glaucoma Therapeutics 

Glaucoma Therapeutics Market by Glaucoma Type:

• Open-Angle Glaucoma Therapeutics
•  Closed Angle Glaucoma Therapeutics

Glaucoma Therapeutics Market by Region:

• North America Glaucoma Therapeutics Market
• Latin America Glaucoma Therapeutics Market
• Europe Glaucoma Therapeutics Market
• Asia Pacific Glaucoma Therapeutics Market
• Middle East & Africa Glaucoma Therapeutics Market