Global Glaucoma Market Size & Share Value Expected to Reach USD 9.77 Billion By 2030, at 6.2% CAGR Increase: Polaris Market Research

NEW YORK, Nov. 22, 2022 /PRNewswire/ -- Polaris Market Research recently published [115+ Pages] research report on "Glaucoma Market Share, Size, Trends, Industry Analysis Report, By Drug Class (Prostaglandin Analogs, Beta-blockers, Adrenergic Agonists, Carbonic Anhydrase Inhibitors); By Distribution Channel; By Disease Type; By Region; Segment Forecast, 2022 - 2030" in its research database.

According to the research report, the global glaucoma market size & share was valued at USD 5.71 billion in 2021 and is expected to reach USD 77 Billion by 2030, growing at a CAGR of 6.2% during the forecast period.

What is Glaucoma? How Big is Glaucoma Market?

• Overview

Glaucoma is a condition that causes damage to your eye's optic nerve. The condition usually occurs due to high eye pressure that damages the nerve connecting the eye to the brain. Glaucoma can even cause permanent vision loss and blindness. In fact, it is the second leading cause of blindness. Though there is no cure for glaucoma, in several conditions, blindness can often be prevented with early treatment such as eye drops, laser treatments, and surgeries.

People over 60 years old are at higher risk of developing this disease. Open-angle glaucoma, angle-closure glaucoma, and congenital glaucoma are the types of glaucoma. Rising number of glaucoma cases and increasing demand for cutting-edge therapeutic strategies are the two key factors driving the growth of the glaucoma market. As per the World Glaucoma Association, 79.6 million people worldwide will develop the condition in 2020. The numbers will probably reach 111.8 million in 2040.

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Our Free Sample Report Includes

• Report introduction, overview, and in-depth industry analysis
• Breakdown data by regions, type, players, and applications
• Competitive landscape and leading competitor market shares
• 110+ pages research report
• Offers chapter-wise instruction on request
• Includes market presence across different geographies with share, size, and trends
• Updated list of tables and figures
• The report covers leading players with their business strategies
• Factors and fact research methodology

Some of the Top Market Players Are:

• Allergan PLC
• Aristo Pharmaceuticals Pvt. Ltd.
• Aerie Pharmaceuticals Company
• Akorn operating company LLC
• Bausch & Lomb Incorporated
• Cipla Incorporation
• Fera Pharmaceuticals LLC
• Inotek Pharmaceuticals
• Merck KGaA
• Novartis AG
• Pfizer Incorporation
• Santen Pharmaceutical Co. Ltd.
• Teva Pharmaceutical Industries Ltd.
• Valeant Pharmaceuticals International Inc

For Additional List of Players and Detail Information, Download a Report PDF Brochure

Growth Driving Factors

• Increasing incidences of glaucoma push the market

The market is majorly driven by the rapid technological developments in the ophthalmology sector and the increasing adoption of cutting-edge surgical techniques. The growing development in optical coherence tomography (OCT), medical imaging, selective laser trabeculoplasty (SLT), microinvasive glaucoma surgery (MIGS), and progression analysis software has led to an increase in the demand for optometrists. This is one of the important factors fueling the market's growth. The availability of laser therapies and medications to treat glaucoma is expected to boost the glaucoma market size.

Rising elderly population in several countries and the increasing number of initiatives by the government and healthcare firms in order to cure glaucoma are the additional factors anticipated to propel the glaucoma market demand. Further, a surge in launches of innovative products and clinical trial products augments the industry's growth. The Department of Medicinal Chemistry and the Institute for Therapeutics Discovery & Development (ITDD) at the University of Minnesota College of Pharmacy worked together to develop a novel medicine for the treatment of glaucoma.

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Recent Developments

In June 2022, the FDA approved the revised New Drug Application (NDA) for STN1011700/DE-117 (omidenepag isopropyl), which is used to treat glaucoma, according to a statement from Santen Pharmaceutical Co., Ltd., and UBE Corporation.

Glaucoma Market: Key Report Scope & Analysis

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Segmental analysis

• Prostaglandin analogs segment is likely to show fastest growth

Based on drug class glaucoma market segmentation, prostaglandin analogs segment is expected to record the fastest growth owing to the growing use of prostaglandin analogs to treat the disease. This drug's single daily dose is very effective. Also, increased use of prostaglandin medicines in combination therapy is expected to flourish the segment growth during the forecast period. These drugs are also effective in reducing intraocular pressure (IOP) and contains fewer side effects compared to other treatments, which also fuels the segment growth in the glaucoma industry.

• Open-angle segment held the largest glaucoma market share in 2021

On the basis of disease type, the open-angle disease type segment held the largest revenue share and is projected to maintain its dominance over the forecast period. This growth can be attributed to the high prevalence of this disorder compared to other types of glaucoma

• Hospital is anticipated to account for the significant revenue share

Based on the distribution channel, the hospital segment is expected to lead the market by holding the biggest revenue share owing to the availability of items for various treatment modalities. In addition, the preference for hospital pharmacies by patients will improve market projections.

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Geographic Overview

• North America is expected to generate significant growth

By geography, the glaucoma market in North America is anticipated to witness a significant revenue share due to the availability of well-developed hospital infrastructure for diagnosis and effective treatment options. The growing approvals by FDA coupled with rising drug launches to treat the condition in North America are further supporting the market growth.

Moreover, Asia Pacific is estimated to grow at the greatest rate in the glaucoma industry owing to the increasing senior population in countries like China and Japan. In addition, the growing healthcare costs and accelerated economic expansion are expected to bolster China's future growth. 

Browse the Detail Report "Glaucoma Market Share, Size, Trends, Industry Analysis Report, By Drug Class (Prostaglandin Analogs, Beta-blockers, Adrenergic Agonists, Carbonic Anhydrase Inhibitors); By Distribution Channel; By Disease Type; By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/glaucoma-market

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Polaris Market Research has segmented the glaucoma market report based on drug class, distribution channel, disease type, and region:

By Drug Class Outlook

• Prostaglandin Analogs
• Beta-blockers
• Adrenergic Agonists
• Carbonic Anhydrase Inhibitors
• Others

By Distribution Channel Outlook

• Hospital pharmacy
• Retail pharmacy
• Online Pharmacy

By Disease Type Outlook

• Open-angle
• Angle-closure
• Others

By Region Outlook         

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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