Global Glaucoma Therapeutics Market - 2023-2030

Global Glaucoma Therapeutics Market - 2023-2030

The Global Glaucoma Therapeutics Market reached US$ 6.1 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 9.3 billion by 2030. The global glaucoma therapeutics market is expected to exhibit a CAGR of 5.7% during the forecast period (2023-2030). The increasing technological advancements and the growing clinical trials for novel products are driving up demand for glaucoma therapeutics market trends.

The development of innovative drug delivery systems, the launch of new drug combinations, and an increase in patients with glaucoma are the main factors propelling the global market for glaucoma therapeutics.

The glaucoma therapeutics market scope comprises glaucoma type as open angle glaucoma, angle-closure glaucoma, congenital glaucoma and secondary glaucoma, which has increased the glaucoma therapeutics market share. The global market for glaucoma therapeutic is expanding as a result of factors including increasing research and development and their upcoming novel product approvals across countries are also creating a positive outlook for the glaucoma therapeutics market growth.

Market Dynamics

The Rising Clinical Trials by Key Companies Drive the Growth of the Glaucoma Therapeutics Market

Over the past 30 years, there has been a considerable increase in the number of clinical studies for glaucoma research. In order to improve glaucoma treatment, numerous studies are being carried out globally to study the illness. Clinical trials examining either surgical, medicinal, or behavioral intervention are particularly intriguing among these. Clinical trials progress over four phases that test a specific treatment, determine the right dosage of a certain drug, and assess the treatment's negative effects.

All three major treatment modalities were present among the most recently assessed substances, but there are still few clinical trials in vascular and neuroprotection modalities. In addition to conventional medications, the possible anti-glaucomatous effects of nutritional supplements and growth hormones are investigated.

For all disorders and ophthalmology in general, phase II and phase III success rates were lower than previously stated success rates. In glaucoma or ophthalmological research, stricter phenotyping for individuals can increase success rates and help researchers identify responders and non-responders.

Rising Research and Development and Novel Product Launches Creates Lucrative Opportunities for Manufacturers

Contributions to clinical research and fundamental science research from a number of researchers or fellows have accelerated the development of novel treatments and significantly improved our understanding of the origins and course of disorders. Several clinical trials are being conducted resulting in positive outcomes.

The rising novel product launches and regulatory approvals are the key driving factors for the growth of the glaucoma therapeutics market. For instance, on September 22, 2022, FDA approval of Omlonti 0.002% eye drops for lowering excessive IOP in people with primary open-angle glaucoma or ocular hypertension was announced by Santen and UBE.

Omlonti's active pharmaceutical ingredient, omidenepag isopropyl, is the only medication with this specific pharmacological action. It is a prostaglandin EP2 receptor agonist that increases aqueous humor drainage through the traditional and uveoscleral outflow pathways.

Side Effects Linked with Drugs Will Hamper the Growth of the Market

The potential adverse effects of glaucoma medicines are varied. Eye color changes, eyelid skin darkening, eyelash growth, sunken eyes, droopy eyelids, stinging, redness, and itching are all signs of prostaglandin analogues. Beta blockers occasionally cause slow blood pressure, a slower heartbeat, weariness, and shortness of breath; very rarely, they also cause depression and a decreased libido.

Burning or stinging, exhaustion, headaches, drowsiness, dry mouth, dry nose, and a substantially greater chance of allergic reaction are all possible effects of alpha agonists. When used as pills, carbonic anhydrase inhibitors can induce tingling in the hands and feet, weariness, stomach trouble, memory issues, and frequent urination. Eye drop form produces stinging, burning, and eye pain.

COVID-19 Impact Analysis

The financial health of companies across all industries has been impacted by the COVID 19 pandemic and lockdown in numerous nations throughout the world. Therefore, for the interval of the COVID-19 health emergency, the U.S. Food and Drug Administration (FDA) issued guidelines that include general considerations to aid sponsors and researchers, ensuring the safety of trial participants, adhering to good clinical practice (GCP), and minimizing risks to trial integrity.

Russia-Ukraine War Impact Analysis

The Russia-Ukraine conflict is estimated to have a low impact on the global glaucoma therapeutic market, owing to the low number of key market players in this region. However, the impact of the import and export of raw materials is expected to have little influence over the global glaucoma therapeutics market growth over the forecast period.

Segment Analysis

The global glaucoma therapeutics market is segmented based on glaucoma type, drug type, distribution channel and region.

Prostaglandins from Drug Type Segment Account for 36.7% of the Market Share Owing to Rising Utilization

Prescription eye drops are the most typical form of treatment for glaucoma. These work by lowering intraocular pressure and safeguarding the optic nerve. These eye drops won't restore vision loss or treat glaucoma, but they can prevent it from growing worse.

To treat glaucoma, a variety of medications are available. Xalatan (latanoprost), Travatan Z (travoprost), Lumigan (bimatoprost), Zioptan (tafluprost), and Vyzulta (latanoprostene bunod) are examples of prostaglandin analogs that operate by enhancing the outflow of fluid from the eye.

Due to their effectiveness, once-daily dose, and minimal side effect profile, prostaglandin analogs (PGAs) are considered the cornerstone of glaucoma treatment. All surgical and medicinal glaucoma treatments have as their primary goal lowering intraocular pressure (IOP), which is now the only adjustable component.

Geographical Analysis

North America Accounted for Approximately 39.9% of the Market Share Owing to the Strong Presence of Major Players and Rising Technological Advancements

Manufacturers have chances to expand their operations in this region because of the rising demand for glaucoma therapeutic advancements in North America. The area has many producers and suppliers, and its rapid economic development has raised industrial production of glaucoma therapeutic, which has increased the demand. There are many manufacturers and suppliers in North America, and as a result of the region's rapid economic growth, industrial production has expanded.

Rising technological developments, governmental approvals, and the introduction of new products all contribute to growth. People are becoming more aware of novel technologies and disorders related to the eye sight, leading to the expansion of the market in this region. These factors shows the dominance of North America.

Competitive Landscape

The major global players in the glaucoma therapeutics market include Merck & Co., Inc., AbbVie Inc., Pfizer Inc., Alcon, Novartis AG, Bausch & Lomb, Inotek Pharmaceuticals, Astellas Pharma Inc., Sun Pharmaceutical Industries Ltd. and Vivavision Biotech Ltd. among others.

Why Purchase the Report?
• To visualize the global glaucoma therapeutics market segmentation based on glaucoma type, drug type, distribution channel and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of glaucoma therapeutics market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global glaucoma therapeutics market report would provide approximately 53 tables, 54 figures and 195 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies