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Region : Global | Latest Update: Sep, 2019 | Published Date: May, 2019 | Report ID: FBI100312| Status : Published
The global glaucoma therapeutics market size was valued at USD 6,273.5 Million in 2018, is projected to reach USD 10,091.0 Million by the end of 2026, exhibiting a CAGR of 6.1%.
The burden of glaucoma is rising at a remarkable rate affecting around 64 million people across the globe. It is one of the most common ophthalmic disorders encountered in primary & secondary care.Glaucoma is a set of optic neuropathies associated with the structural changes in the optic nerve and may lead to visual loss and blindness. It is characterized as the increase in intraocular pressure (IOP) above 21 mm Hg which affects the peripheral visual field. Improved diagnostic tools in the ophthalmic industry and increasing pool of geriatric population across the globe are contributing to the glaucoma therapeutics market growth at a considerable rate. Moreover, the late-stage pipeline therapeutics offer promise to the glaucoma treatment, while the introduction of innovative therapeutic solutions by key players in the global market is estimated to boost the growth of glaucoma therapeutics industry during the forecast period.
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Prostaglandin Analogues to Account for Highest Market Share by 2026
Various drug classes in the glaucoma therapy are beta blockers, prostaglandin analogs, alpha-adrenergic agonists, carbonic anhydrase inhibitors, combination drugs, and others. Prostaglandins have changed the face of glaucoma treatment scenario and are preferred as first-line therapy for glaucoma. The prostaglandin analogs segment accounted for a market share of 40.2% in 2018 and is expected to remain dominant throughout the forecast duration, attributable to their effectiveness in reducing the IOP and fewer side effects as compared to other therapies. The prostaglandin analogs segment is further classified into latanoprost, bimatoprost, travoprost, and others, wherein latanoprost captured highest market share in terms of revenue owing to their significant penetration in highly prevalent & emerging economies of Asia Pacific.
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In terms of disease type, the global glaucoma therapeutics market is categorized into open-angle glaucoma, angle closure glaucoma, and others (congenital glaucoma, secondary glaucoma, etc.). Open-angle glaucoma is the highly prevalent disease indication among all the glaucoma types and hence is expected to lead the industry in coming years. Various distribution channels in the market are hospital pharmacy, retail pharmacy, and online pharmacy.
Consistent Rise in the Prevalence of Glaucoma Augmenting the Market Growth in the Asia Pacific with the Highest CAGR
In terms of value, North America generated maximum revenue of USD 2,405.9 Mn in 2018 and is expected to remain leading by the end of 2026. The dominance of the region is attributable to the efficient treatment framework for critical ophthalmological conditions in the U.S., and the availability of well-equipped hospital infrastructure for the diagnosis of glaucoma. However, Asia Pacific is anticipated to witness relatively significant CAGR during 2019-2026, owing to the rising number of cases diagnosed with glaucoma in countries such as China & India, and efforts being taken by the public authorities in those countries to prevent & control glaucoma. Increasing pool of geriatric population in Japan is also contributing to the glaucoma therapeutics market in Asia Pacific.
North America Glaucoma Therapeutics Market, 2018
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Novartis AG (Alcon) and Allergan leading the global Glaucoma Therapeutics market
The current vendor landscape of the glaucoma therapeutics industry is a bit fragmented with numerous players operating at the global level. Novartis AG and Allergan accounted for maximum market share in terms of value in 2018. The two companies are engaged in manufacturing and marketing of their prostaglandin analogs Travatan and Lumigan respectively, which are preferred as the first-line treatment option for glaucoma. This has improved the strategic position of the two companies in the glaucoma therapeutics industry revenue. Aerie Pharmaceuticals Inc. introduced its innovative eye-drop Rhopressa in December 2017 for glaucoma treatment, which is anticipated to disrupt the market dominance of Allergan plc and Novartis AG in coming years. Some of the other players operating in the glaucoma therapeutics market include Pfizer, Inc., Merck & Co., Inc., Bausch & Lomb Incorporated, Teva Pharmaceutical Industry, Aerie Pharmaceuticals, Pfizer, Inc., and Inotek Pharmaceuticals.
The glaucoma therapeutics market share is flooded with a number of branded medications, along with a rising number of generic drugs, most of which are intended towards reducing the elevated intraocular pressure and to prevent the damage to the optic nerve. In some cases, glaucoma progresses to severe condition even after the prescribed dose of medications is over. In such cases, further action is required. Prostaglandins are generally preferred as a front-line treatment that makes them an ideal choice for the single-drug treatment regimen for glaucoma.
The report provides qualitative and quantitative insights on the glaucoma therapeutics therapy industry and detailed analysis of market size and growth rate for all possible segments in the market. The market is segmented on the basis of drug class, disease indication, and distribution channel. On the basis of drug class, the global glaucoma therapeutics therapy market is categorized into beta blockers, prostaglandin analogs (Latanoprost, bimatoprost, travoprost, and others), alpha-adrenergic agonists, carbonic anhydrase inhibitors, combination drugs, and others. In terms of disease indication, the glaucoma therapeutics market is classified into open-angle glaucoma, angle closure glaucoma, and others, while various distribution channels covered in the report are hospital pharmacy, retail pharmacy, and online pharmacy. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further categorized into countries.
Along with this, the report provides elaborative analysis of the market dynamics and competitive landscape. Various key insights provided in the report are the prevalence of glaucoma by major countries, recent industry developments such as partnerships, mergers & acquisitions, pipeline analysis, reimbursement scenario by key countries, and a regulatory scenario for key countries.
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By Drug Class
· Beta Blockers
· Alpha Adrenergic Agonists
· Carbonic Anhydrase Inhibitors
· Combination Drugs
By Disease Indication
· Open Angle Glaucoma
· Angle Closure Glaucoma
By Distribution Channel
· Hospital Pharmacy
· Retail Pharmacy
· Online Pharmacy
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
· Latin America (Brazil, Mexico, Rest of Latin America)
· Middle East & Africa (GCC, South Africa, Rest of Middle East & Africa)