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Glaucoma Diagnostics Market

Global Glaucoma Therapeutics Market to Surge 1.5x, backed by Rising Consumption of Beta Blockers: Fact.MR

Published : 27 Oct 2021 Industry: Healthcare

Fact.MR’s recent glaucoma therapeutics industry report concludes that the market will reach US$ 6.6 Bn by the end of 2021. Long-term forecast suggests a largely steady outlook, with an anticipated CAGR of 4.7% and a valuation of US$ 10 Bn by the end of the assessment period lasting from 2021-2031.   

Historical market performance reveals that the industry registered modest growth, with a documented growth rate of 2.8% from 2016-2020. While significant disruptions were experienced with regard to glaucoma surgeries across the world during COVID-19, several developing regions, including India, experienced a noteworthy upsurge in emergency surgical procedures, expanding over 4x. More emphasis was provided to non-incisional surgical procedures to reduce the risk of viral load transmission.

It is expected that by 2040, nearly 80 million people will suffer from primary open angle glaucoma, according to several studies. Furthermore, the Centers for Disease Control & Prevention expects the number of active glaucoma cases to rise to over 6 million by 2050. Hence, numerous collaborative efforts in the form of clinical trials, research funding and drug development are being initiated, which will likely bode well for market growth in forthcoming years.

Key Takeaways from the Market Study

  •  By drug class, beta blockers to register highest growth, at a CAGR of 4.7% by 2031
  • Prostaglandins to acquire a significant revenue share, to the tune of 44% during the forecast period
  • Ophthalmic clinics to emerge as one of the primary end users, surging at a CAGR of 4.5%
  • North America & Europe to account for 60% of the global glaucoma therapeutics market revenue
  • Asia to be an opportunistic market, capturing 1/4th of global demand for glaucoma therapeutics

“Nanotechnology-based treatments for glaucoma using nano delivery systems and sustained release implants appear to have the potential to boost the market for bioavailability, provide sustained release, enable targeted delivery, and reduce side effects compared to topical drops in the future,” says a Fact.MR analyst.

Competitive Landscape

Strategic collaborations enable manufacturers to increase production and meet consumer demand which will increase revenue and market share. New products and technologies will enable end-users to benefit from products that are eco-friendly by nature.

  • In August 2021, Nova Eye Medical acquired glaucoma patents to expand its product line. With this acquisition Nova will expand and strengthen its portfolio of glaucoma surgical devices intellectual property, enabling the firm to introduce new products and to expand its indications in the future
  • In May 2020, the U.S Food & Drug Administration approved Allergan Plc.’s DURYSTATM (bimatoprost implant) New Drug Application. The drug is amongst the first intracameral, sustained-release implant indicated to reduce intraocular pressure (IOP) in patients with open-angle glaucoma, or ocular hypertension

More Insights Available

Fact.MR's, in its new offering, presents an unbiased analysis of the glaucoma therapeutics market, presenting historical demand data (2016-2020) and forecast statistics from 2021 to 2031.

The study divulges essential insights on the market based on drug class (prostaglandins, beta blockers, alpha agonists, carbonic anhydrase inhibitors, combination medications and cholinergic), and end users (hospitals, ophthalmic clinics and ambulatory surgical centers), across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).

Fact.MR’s Domain Knowledge in Healthcare

Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

For more information, refer to our market research report or contact the PR author.

Shambhu Nath Jha

Fact.MR

Sr. Consultant - Healthcare

E-mail: shambhu@factmr.com

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