Global Glaucoma Treatment Market Size, Share & Trends Analysis Report By Disease Indication (Closed Angle Glaucoma (CAG), Open Angle Glaucoma (OAG), Secondary Glaucoma, and Congenital Glaucoma), By Distribution Channel (Hospitals PHARMACY, RETAIL Pharmacy, and Online Pharmacy), By Drug Class (Prostaglandin Analogues, Alpha Agonist, Cholinergic, Beta Blockers, and Carbonic Anhydrase Inhibitors), Forecast Period 2022-2028
The global glaucoma treatment market is anticipated to grow at a considerable CAGR of 5.2% during the forecast period (2022-2028). Glaucoma is one of the major eye disorders which causes damage to the optic nerve and can cause to result in vision loss and blindness. It is referred to as a silent thief of sight, it shows no pain observed until noticeable vision occurs. Glaucoma is generally observed due to raised intraocular tension in people. It mostly occurs in people over the age of 40, however, congenital glaucoma is also observed across the globe. The growing geriatric population is one of the key factors responsible for the growing incidence of glaucoma. The incidence and prevalence rate of glaucoma disease is growing at a significant rate across the globe. According to the World Health Organization (WHO), in 2020, around 2.2 billion people from across the globe had been suffering from one or the other kind of visual impairment and 80.0% of these were considered avoidable.
The most common treatments for glaucoma are eye drops and, rarely, pills. However, advancement in surgical treatment has boosted the growth of ophthalmic laser application in the treatment of glaucoma. There are various types of laser surgeries that are used for treating glaucoma such as Selective Laser Trabeculoplasty (SLT), Argon Laser Trabeculoplasty (ALT), Laser Peripheral Iridotomy (LPI), and Laser Cyclophotocoagulation among others. Apart from it, the continuous innovations in the drugs and rising number of patients with diabetes have resulted in significant growth opportunities. Although some factors hinder the growth of the market include a lack of awareness about the disease and its treatment in various regions, and postoperative complications resulting after glaucoma surgery. Rising awareness initiatives about glaucoma and technological advancements are also creating opportunities for the glaucoma treatment market. Besides this, no pain and lack of symptoms other than noticeable vision are considered as the challenge for the market.
The Impact of COVID-19 on The Global Glaucoma Treatment Market
The global glaucoma treatment market is expected to hardly hit by the COVID-19 pandemic. Since December 2019, the COVID-19 pandemic has impacted the market as the number of elective surgeries has been reduced due to the imposing of the lockdown across the globe, especially in China, India, and other Asian economies. The burden on pharmaceutical facilities to develop early diagnosis and treatment for COVID-19 has impacted the business of other pharmaceuticals. Further, from the demand side, the economies facing lockdown have witnessed a very low rate of elective treatment.
The global glaucoma treatment market is segmented based on disease indication, drug class, and distribution channel. Based on the disease indication, the market is segmented into closed-angle glaucoma (CAG), open angle glaucoma (OAG), secondary glaucoma, and congenital glaucoma. Open angle glaucoma (OAG) and closed angle glaucoma (CAG) are the most common types of glaucoma. According to the International Council of Ophthalmology report, open angle and closed angle glaucoma individually account for about half of all glaucoma cases. In addition, they are responsible for the major cause of irreversible vision across the globe. Therefore, open angle glaucoma and angle-closure glaucoma segments are expected to have a significant share of the glaucoma treatment market. Besides, based on the distribution channel, the market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. Apart from it, based on the drug class, the market is segmented into prostaglandin analogues, alpha agonist, cholinergic, beta blockers, and carbonic anhydrase inhibitors.
Global Glaucoma Treatment Market Share by Disease Indication, 2020 (%)
Global Glaucoma Treatment Market Share by Disease Indication
Open Angle Glaucoma holds a significant share in the Market
The open angle glaucoma held the major share in 2020 and is also anticipated to grow during the forecast period. Open angle glaucoma is the common form of the disease in which the drainage angle formed by the cornea and iris is open, although the trabecular meshwork is partially closed. This disease happens slowly with no symptoms and damages the optic nerve. The factors such as the high prevalence of disorder as compared to other types of glaucoma are fostering the glaucoma treatment market globally. Besides, various glaucoma therapeutic drugs available to treat open angle glaucoma are assisting the segment to lead. For instance. In November 2017, Bausch & Lomb Inc., has announced the launch of the VYZULTA solution which assists in the reduction of IOP in patients with open-angle glaucoma and ocular hypertension. And the company has also introduced LUMIFY an over-the-counter eye drop for ocular redness in the eyes.
The global glaucoma treatment market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. North America holds a dominant position in the global glaucoma treatment market, followed by Europe. The growth is mainly due to the high prevalence of glaucoma, and economic stability which results in high healthcare expenditure. Moreover, the high number of research grants by some research agencies for innovation and growth in the treatment area is also fueling the regional market growth. For instance, the Glaucoma Research Foundation is working on investing $40,000 each for the R&D and new product innovation in the US. The primary focus of this investment is to explore new therapies and cures, thereby opening new opportunities in the field of cyclodiode laser and cyclophotocoagulation industry. Besides, Europe has a good scope of the market due to its capability of strong reimbursement policies and high presence of a patient pool.
Global Glaucoma Treatment Market Growth, by Region 2022-2028
Global Glaucoma Treatment Market Growth, by Region
Asia-Pacific is Projected to Have Considerable Share in the Global Glaucoma Treatment market
Asia-Pacific is anticipated to hold a considerable market share in the global glaucoma treatment market. The factors that are assisting the region to grow at a faster rate include the increasing geriatric population in countries such as China and Japan. As per the World Bank, in 2019, around 28% of the Japanese population is more than 65 years. And around 11.47% of the China population is over 65years. The elderly are at a greater risk of developing glaucoma, but people of all ages group may be affected. The increasing awareness, rising healthcare expenditure, and screening also propelling the growth. For instance, as per the World Health Organization (WHO), in 2018, around 6.8% of GDP was the healthcare expenditure in the Asia-Pacific. Thus, the huge population base and rapid development in the healthcare sector are assisting the companies to develop their market in the Asia-Pacific region.
Market Players Outlook
The key players of the glaucoma treatment market Aeries Pharmaceuticals, Inc., Bausch & Lomb Inc., Inotek Pharmaceuticals, Novartis AG, Merck & Co., Pfizer Inc., Teva Pharmaceuticals Industries, Hoya Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, geographical expansion, collaborations, and new product launches, to stay competitive in the market. For instance, in November 2019, Aerie Pharmaceuticals, Inc., an ophthalmic pharmaceutical company involved in the treatment of the patient with open angle glaucoma, retinal disease, and other diseases of the eye, has announced that it has acquired Avizorex Pharma, S.L. (AVX), a company for the treatment of dry eye disease. This acquisition was done for $10 million and has expanded the drug portfolio for the company.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global glaucoma treatment market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where in the market.
Table of Contents
- Current Industry Analysis and Growth Opportunity Outlook
- COVID-19 Impact Analysis
- Recovery Scenarios
1.2. Market Breakdown
1.2.1. By Segments
2.2. Pipeline Analysis:Global Glaucoma Treatment Market
2.3. Analyst Insight & Current Market Trends
2.3.1. Key Findings
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
5.1.1. Prostaglandin Analogues
5.1.2. Alpha Agonist
5.1.5. Carbonic Anhydrase Inhibitors
5.2. Global Glaucoma Treatment Market by Disease Indication
5.2.1. Closed Angle Glaucoma (CAG)
5.2.2. Open Angle Glaucoma (OAG)
5.2.3. Secondary Glaucoma
5.2.4. Congenital Glaucoma
5.3. Global Glaucoma Treatment Market by Distribution Channel
5.3.1. Hospitals Pharmacy
5.3.2. Retail Pharmacy
5.3.3. Online Pharmacy
6.1.1. United States
6.2.6. Rest of Europe
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
7.2. Akorn, Inc.
7.3. Allergan Plc
7.4. Bausch & Lomb Pvt. Ltd.
7.5. Bayer AG
7.6. Carl Zeiss AG
7.7. F. Hoffmann-La Roche, Ltd.
7.8. HOYA Corp.
7.10. Ivantis, Inc.
7.11. Johnson & Johnson Vision Care, Inc.
7.12. Merck & Co., Inc.
7.13. Novartis AG
7.14. Pfizer, Inc.
7.15. Regeneron Pharmaceuticals, Inc.
7.16. Sanofi S.A.
7.17. Santen Pharmaceuticals Co., Ltd.
7.18. Teva Pharmaceuticals Industries, Ltd.
7.19. Topcon Corp.
7.20. Valeant Pharmaceuticals International, Inc.
A selection of companies mentioned in this report includes:
- Aerie Pharmaceuticals, Inc.
- Akorn, Inc.
- Allergan Plc
- Bausch & Lomb Pvt. Ltd.
- Bayer AG
- Carl Zeiss AG
- F. Hoffmann-La Roche, Ltd.
- HOYA Corp.
- Ivantis, Inc.
- Johnson & Johnson Vision Care, Inc.
- Merck & Co., Inc.
- Novartis AG
- Pfizer, Inc.
- Regeneron Pharmaceuticals, Inc.
- Sanofi S.A.
- Santen Pharmaceuticals Co., Ltd.
- Teva Pharmaceuticals Industries, Ltd.
- Topcon Corp.
- Valeant Pharmaceuticals International, Inc.