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Global Glaucoma Treatment Market was Valued at US$ 2930.68 Mn in 2020 Due to Increasing Prevalence of Glaucoma

Published On 27 Sep 2021 08:19 AM


Absolute Markets Insights (AMI) reports a robust growth forecast for the global glaucoma treatment market during the forecast period (2021 – 2029). In its newly released report, AMI anticipates that the market will grow at 3.8% owing to increasing investments by market participants towards introduction of combination drugs and treatment modalities to cure glaucoma. AMI reports that the market stood at a valuation of US$ 2930.68 Mn in 2020.

Glaucoma is a group of related eye disorders where the patient does not feel any pain and does not show any symptoms until noticeable loss of vision occurs. Glaucoma damages the optic nerve, which carries information about object seen by person from the eye to the brain. Most of the glaucoma cases are associated with ocular hypertension. Ocular hypertension is defined as a condition where the pressure inside the eye becomes higher than normal pressure. However, often glaucoma can also occur when intraocular pressure is normal. If not treated on time, glaucoma initially causes peripheral vision loss and gradually leads to permanent blindness.

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Increasing cases of glaucoma around the world are boosting the global glaucoma treatment market growth. Due to increasing technological advancement in medical sector, now detection of glaucoma is easy and more cases are coming to light. Other factors driving the market growth include increasing aging population across the globe and increasing the prevalence of diabetes.

Glaucoma is a slow progressing disorder. Amidst the pandemic, in many countries, government healthcare facilities have stopped performing elective surgeries that include glaucoma surgeries. American Academy of Ophthalmology have instructed healthcare facilities under its command to safely postpone non-critical ophthalmic surgeries particularly in elderly patients with comorbidities. Hence, many people are consuming therapeutic products to delay the progression of glaucoma.

Growing innovation of new technology in healthcare industry has not left the optical care untouched. Glaucoma treatment is a big concern in the healthcare sector and market participants are introducing innovative treatment modalities to efficiently cure the on-going ailment. For instance, based in San Clemente, California, the Glaukos Corporation was the first to introduce iStent and iDose devices that were helpful in the microinvasive glaucoma surgery (MIGS) space. iStent trabecular micro-bypass stent helps to place implant into the eye in order to relieve pressure and preserve the long-term vision of the patient. It has been approved by the US Food and Drug Administration (FDA). Measuring only 0.23 mm by 0.36 mm, iStent is believed to be the smallest medical device that is known to be implanted in humans. The iDose implant allowed the surgeon to inject two stents into the Schlemm’s canal eye vessel, which increased the likelihood of implant ending up adjacent to a collector channel.

Open – Angle Glaucoma held the Largest Market Share in 2020

According to Absolute Markets Insights report, open – angle glaucoma will remain the fastest growing category during the forecast period 2021 – 2029 in the global glaucoma treatment market High prevalence of this disorder and availability of majority glaucoma therapeutic drugs indicating treatment for open-angle glaucoma is attributing towards the segment’s growth. Open-angle glaucoma is the most common type in the United States of America (USA), where 9 in 10 people with glaucoma suffer from open – angle glaucoma. Many people do not experience any symptoms until they start to lose their vision. When the pressure which is a symptom of glaucoma damages the optic nerve, the patient's vision gets affected. Two out of ten African Americans suffer from blindness caused by open-angle glaucoma. People with high blood pressure are also prone to open – angle glaucoma.

Demand for Combination Medication to Rapidly Grow over the Forecast Period (2021 – 2029)

According to Absolute Markets Insights report, combination medication segment is estimated to witness highest growth rate during the forecast period in the global glaucoma treatment market. Although in 2020, alpha adrenergic agonists segment held the largest market share. The combination medication can treat complicated and fast progressing glaucoma in rare cases. In August 2021, according to study published in the Journal of Drug Assessment, increasing dosage of timolol – dorzolamide fixed combination from twice a day to three times a day could significantly reduce intraocular pressure (IOP) in those patients who were recently diagnosed with primary open-angle glaucoma (POAG). 

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Topical Administration was the most preferred Route of Administration in 2020

According to Absolute Markets Insights report, topical administration segment occupied the largest share in the global glaucoma treatment market and during the forecast period, this segment is expected to keep its momentum. Topical eye drops is a painless alternative for surgery and sometimes, topical eye drops can also reduce the damage done by glaucoma so that the patient can afford to delay the surgical procedure. It is easy to administer drops into eyes. The presence of strong pipeline of products by pharmaceutical companies and increasing sales volume of ophthalmic drugs for retinal disorders is expected to drive the market over the forecast period.

Online Pharmacies expected to be the Fastest Growing Segment during the Forecast Period (2021 – 2029)

The hospitals segment was the largest segment in the global glaucoma treatment market in 2020. However, during the forecast period, online pharmacies segment is expected to be the fastest growing segment. The online channel gained increased popularity amidst the Covid-19 pandemic, wherein physical movement had been restricted and limited by the regulatory authorities. Significant initiatives by government along with increased investments by established and start-ups towards online distribution of pharmaceuticals products is anticipated to contribute towards the segment’s growth over the forecast period.

Better Healthcare Infrastructure Kept the Market Strong in the North America Region in 2020

Glaucoma costs to the United States economy alone around US$ 2.86 billion every year. This includes both direct costs and productivity losses. There are various organizations in the USA creating awareness regarding glaucoma. Their efforts are expected to propel the overall growth of the glaucoma treatment market in the region. According to the data published by the BrightFocus Foundation, more than 3 million Americans are suffering glaucoma. In USA, open-angle glaucoma is the most common form of glaucoma.

AMI reports that the glaucoma treatment market in North America region was the largest regional market in 2020 due to presence of key market players, increasing awareness about glaucoma, and availability of advanced medical infrastructure. Presence of huge population, increasing healthcare expenditure, increasing investment in R&D in the medical sector, and ease of obtaining early diagnosis are also boosting the market in this region.

Some key players in the global glaucoma treatment market are Aerie Pharmaceuticals, Inc., ALLERGAN, Bausch & Lomb Incorporated, EyeD Pharma s.a., Merck & Co., Inc., Pfizer, Santen Pharmaceutical Co. Ltd., Senju Pharmaceutical Co. Ltd., and Sunways India Pvt Ltd., amongst other market participants.

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Global Glaucoma Treatment Market:

  • By Glaucoma Type
  • Open-Angle Glaucoma
  • Angle-Closure Glaucoma
  • Normal-Tension Glaucoma
  • Others
  • By Medication
    • Alpha Adrenergic Agonists Highest Share
    • Beta Blockers
    • Carbonic Anhydrase Inhibitors
    • Miotics
    • Prostaglandin Analogs
    • Combination Medication Fastest Growing
    • Others
  • By Route of Administration
  • Oral
  • Topical
  • By Distribution Channels
    • Hospital Pharmacies
    • Retail Pharmacies
    • Online Pharmacies
  • By Region
    • North America
      • U.S.
      • Canada
      • Mexico
      • Rest of North America
    • Europe
      • France
      • The UK
      • Spain
      • Germany
      • Italy
      • Nordic Countries
        • Denmark
        • Finland
        • Iceland
        • Sweden
        • Norway
      • Benelux Union
        • Belgium
        • The Netherlands
        • Luxembourg
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • New Zealand
      • Australia
      • South Korea
      • Southeast Asia
        • Indonesia
        • Thailand
        • Malaysia
        • Singapore
        • Rest of Southeast Asia
      • Rest of Asia Pacific
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • Egypt
      • Kuwait
      • South Africa
      • Rest of Middle East & Africa
    • Latin America
      • Brazil
      • Argentina
      • Rest of Latin America

For More Information Click: https://www.absolutemarketsinsights.com/reports/Glaucoma-Treatment-Market-2021---2029-916

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Press Release Provided By: Absolute Markets Insights