Glaucoma Therapeutics Market is expected to reach US$ 8.02 billion by 2031

Open Angle Glaucoma Segment to Witness Significant Growth During 2023–2031  

According to our new research study on "Glaucoma Therapeutics Market Forecast (2021–2031), Global Share, Trend, and Growth Opportunity Analysis – by Drug Class, Indication, Distribution Channel, and Geography," the market was valued at US$ 6.24 billion in 2023 and is projected to reach US$ 8.02 billion  by 2031; it is estimated to record a CAGR of 3.2% during 2023–2031. The growing prevalence of glaucoma, rising awareness and early diagnosis of the disease, and increasing product launches are expected to drive the market growth. However, compliance issues with medication regimens and the high cost of treatments hinder the glaucoma therapeutics market growth.

Glaucoma Therapeutics Market Trends:

The gradual damage of the optic nerve—typically associated with high pressure inside the eye (intraocular pressure)—predominantly due to aging can lead to a group of eye diseases called Glaucoma, which can eventually result in irreversible blindness. One of the most common treatments for glaucoma is to reduce intraocular pressure by using eye drops. However, patient adherence to these eye drops can be challenging, and inadequate patient education can impede treatment success. Additionally, ocular hypotensive drugs can cause local and systemic side effects that may further complicate the treatment. Rising focus on the development of improved formulations with enhanced stability, longer circulation times, and targeted binding properties is likely to add novel products to the market. Recent advancements in glaucoma therapeutics have revolutionized the available treatments in the market. The use of nanoparticles with suitable structures and superior binding capabilities facilitates the bioavailability and efficacy of the drug. Sustained-release (SR) implants and other innovative drug delivery systems offer improved patient compliance and reduced side effects compared to conventional eye drops. Several companies are developing SR drug delivery systems as an alternative to topical delivery to potentially overcome barriers in treating POAG. As per the article published in PubMed Central in 2022, the only approved SR therapy for POAG by the Food and Drug Administration (FDA) is Bimatoprost SR (DurystaTM) from Allergan plc. Other SR therapies including bimatoprost ocular ring (Allergan), iDose (Glaukos Corporation), ENV515 (Envisia Therapeutics), OTX-TP (Ocular Therapeutix), OTX-TIC (Ocular Therapeutix), and latanoprost free acid SR (PolyActiva) are under investigation. SR drug delivery technology in POAG management may shift treatment paradigms and dramatically improve outcomes. Therefore, 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, by Geography, 2023 (%)

Source: The Insight Partners Analysis

Segmental Analysis:

The “glaucoma therapeutics market analysis” has been performed by considering the following segments: drug class, indication, and distribution channel.

By drug class, the market 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. Prostaglandin analogs are the first-line treatment for high intraocular pressure in glaucoma patients. They offer a once-a-day dosing, a significant reduction in intraocular pressure, and low systemic side effects. Thus, the benefits of prostaglandin analogs are responsible for the expansion of the glaucoma therapeutics market size.

The market, by indication, is segmented into open angle glaucoma, angle closure glaucoma, and others. The open-angle glaucoma segment held the largest glaucoma therapeutics market share in 2023 and is projected to register the highest CAGR from 2023 to 2031. Open-angle glaucoma is the most common form of glaucoma, which affects approximately 95% of individuals. Initially, it does not show any symptoms. However, at some point, an individual may start losing their side (peripheral) vision without treatment, resulting in total blindness.

By distribution channel, the market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy segment dominated the market in 2023.

The scope of the glaucoma therapeutics market report entails North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). Asia Pacific is expected to register the fastest CAGR in the market from 2023 to 2031. Factors such as ongoing clinical studies for developing novel glaucoma therapies, as well as increasing healthcare expenditures in the region, contribute to the glaucoma therapeutics market growth in Asia Pacific. In terms of revenue, North America accounted for the largest glaucoma therapeutics market share in 2023.

A few initiatives taken by key players operating in the glaucoma therapeutics market are listed below: 

• In September 2023, Thea Pharma Inc. launched IYUZEH 0.005% in the US market. IYUZEH is free of preservatives and is used to treat primary open-angle glaucoma (POAG) and ocular hypertension (OHT). In randomized and controlled clinical trials, IYUZEH has reduced IOP in patients with primary open-angle glaucoma (POAG) or OHT with a baseline IOP of 19–24 mmHg by 3–8 mmHg.
• In February 2021, Santen Pharmaceutical Co., Ltd and Ube Industries, Ltd. announced that Santen Pharmaceutical Korea Co., Ltd. launched the EYBELIS Ophthalmic Solution 0.002% following Korea’s national health insurance listing. Santen and Ube Industries co-developed EYBELIS to treat glaucoma and OHT. Omidenepag Isopropyl, the active pharmaceutical ingredient in EYBELIS, licensed out from Ube Industries to Santen, is a selective EP2 receptor agonist and is an ocular hypotensive agent with a new mechanism of action.

Competitive Landscape

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.; Alcon and Cipla Inc are among the leading companies profiled in the glaucoma therapeutics market report. The companies implement both organic (such as product launches, expansion, and product approvals) and inorganic (such as collaborations and partnerships) strategies to stay competitive in the market. 

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