Open-Angle Glaucoma Therapeutics Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, UK, Germany, China - Size and Forecast 2023-2027

Open-Angle Glaucoma Therapeutics Market Size 2023-2027

The global open-angle glaucoma therapeutics market size is estimated to grow by USD 2.36 billion at a CAGR of 6.4% between 2022 and 2027. The market is experiencing significant growth, driven by a promising pipeline and recent regulatory approvals. Combination drugs, which offer the benefits of multiple treatments in a single formulation, are increasingly in demand due to their convenience and potential for improved patient outcomes. Furthermore, the global population is aging rapidly, leading to a surge in the number of individuals diagnosed with open-angle glaucoma. According to estimates, the geriatric population is expected to double by 2050, making open-angle glaucoma a major health concern for this demographic. These factors are fueling the growth of the market, which is projected to reach substantial value by 2027.

Monotherapy remains the preferred choice for the treatment of open-angle glaucoma, and the combination products are generally used only when monotherapy has not provided low enough IOP. There are a number of limits associated with topically administered monotherapy. In some cases, monotherapy cannot control IOP effectively, and it also has the potential to lose its effectiveness over time, which can be resolved by using combination drugs. In order to treat the disease in a way that has minimal adverse effects, combination drug products aim at various targets or routes of action. In combination therapy, for the purpose of facilitating patient adherence and persistence for treatment, FDCs are preferred in comparison with single use of both components. FDCs are important adjuncts to the array of available open-angle glaucoma therapies, and they offer critical options for patients who require more than one medication to control IOP in the treatment of open-angle glaucoma.

It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.

What will be the Size of the Market During the Forecast Period?

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Market Segmentation

By Channel 

The market share growth by the hospital pharmacy segment will be significant during the forecast period. Hospital pharmacies play a crucial role in the distribution of medications and are often the primary source of pharmaceutical products for treating glaucoma within hospital settings. In order to ensure the safe and efficient distribution of medicines, hospital pharmacies play a role as intermediaries between drug manufacturers and healthcare providers.

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The hospital pharmacy segment was valued at USD 3.03 billion in 2017. Instances of the hospital pharmacy distribution channel's significance in the open-angle glaucoma therapeutics market can be seen through collaborations between pharmaceutical companies and hospitals. The increasing prevalence of open-angle glaucoma, the growing aging population, the rise in healthcare infrastructure, and the rising demand for glaucoma medicines in hospitals will be driven by the increasing initiatives aimed at improving access to healthcare, which in turn will boost the growth of the market through hospital pharmacy during the forecast period.

By Product 

PGAs

PGAs are the first-line option for the treatment of open-angle glaucoma. Bimatoprost (0.03%), latanoprost (0.005%), and travoprost (0.004%) are the currently available PGAs in the market. However, the efficacy of the combination of the above drugs is high when compared with monotherapy. The precise mechanism by which prostaglandins cause uveoscleral outflow improvement may involve the relaxation of ciliary muscle and changes in extracellular matrix elements. Possible side effects of PGAs include stinging and burning, eye color change, and lengthening and curling of eyelashes. Thus, with the increasing use of a combination of PGAs, the global market is expected to witness high growth through the PGAs segment during the forecast period.

Non-PGAs

Apart from PGAs, some other drugs are also available in the market for the treatment of open-angle glaucoma, which is referred to as non-PGAs. The production of aqueous humor is suppressed by these medicines. The non-PGA segment consists of several classes of drugs. Beta-blockers act by lowering IOP by suppressing aqueous humor production. In the ciliary epithelium, inhibition of the synthesis of cyclic adenosine monophosphate leads to decreased secretion of hydrochloric acid. Adrenergic agonists reduce IOP through alpha 2 agonist-mediated aqueous suppression and a secondary mechanism that increases aqueous outflow. Nonselective adrenergic agonists, such as epinephrine, reduce IOP by several mechanisms. The growth of this segment is primarily driven by the availability of many drugs and low-cost generics. However, the side effects of non-PGAs are expected to slow down the growth of the non-PGAs

By Region

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North America is estimated to contribute 51% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The market growth in North America is primarily attributed to the high prevalence of glaucoma. According to the Centers for Disease Control and Prevention (CDC), approximately three million Americans have glaucoma. Globally, it is the second most common cause of blindness. The most common form of glaucoma is open-angle glaucoma, which produces an increase in eye pressure.

Often, it will not have early symptoms, due to which 50% of people with glaucoma do not know that they have the disease.  The awareness of these diseases through different education programs has also been increased by public organizations and vendors due to the high prevalence of eye disorders in this region. The rising awareness of eye diseases in the region is expected to increase the adoption of open-angle glaucoma therapeutics, which will boost the growth of the regional market during the forecast period.

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Key Market Players 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

AbbVie Inc.- The company offers open-angle glaucoma therapeutics such as Lumigan and Combigan.

• Alcon Inc.
• Bausch Health Companies Inc.
• D.Western Therapeutics Institute Inc
• Hikma Pharmaceuticals Plc
• Inotek Pharmaceuticals
• Merck and Co. Inc.
• Nicox S.A.
• Novartis AG
• Ocuphire Pharma Inc
• Otsuka Pharmaceutical Co. Ltd.
• Pfizer Inc.
• Santen Pharmaceutical Co. Ltd.
• Sun Pharmaceutical Industries Ltd.
• Teva Pharmaceutical Industries Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Dynamics Customer Landscape

The market addresses the growing concern among the elderly population regarding ocular disorders like open-angle glaucoma. Through comprehensive pipeline analysis, various drug classes and routes of administration are explored to manage intraocular pressure (IOP) effectively. Treatment options range from topical eye drops such as beta blockers, alpha agonists, and prostaglandin analogs to combination medications incorporating carbonic anhydrase inhibitors and cholinergics. In cases where topical treatments are insufficient, laser therapy or oral medications may be recommended. With a focus on preserving vision and preventing optic nerve damage, advancements in therapeutic strategies aim to improve patient outcomes while addressing the complexities of managing this progressive eye condition. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. 

Key Market Drivers

The promising pipeline and recent approvals are driving growth in an market.  The high incidence of open-angle glaucoma, pharmaceutical companies have been investing heavily in the development of new medicines for the treatment of open-angle glaucoma. Furthermore, recently, several companies received approvals for their drugs to treat open-angle glaucoma. 

Moreover, the ophthalmic solution contains 0.002% omidenepag isopropyl. Individuals with ocular hypertension or open-angle glaucoma may benefit from this medication, as it has been shown to reduce IOP. Therefore, recently approved products and late-stage clinical drugs are expected to propel the growth of the market during the forecast period.

Significant Market Trends

The growing awareness about glaucoma is a key trend in the market. Glaucoma is one of the major causes of vision loss and blindness globally. In its early stages, glaucoma is often asymptomatic and can go unnoticed. If diagnosed early, before significant vision loss occurs, glaucoma can be controlled, and severe vision loss can many times be prevented potentially.

Along with awareness about glaucoma, the diagnosis of eye disorders, including glaucoma, also needs a coordinated integrative effort involving medical ophthalmologists, surgeons, and pathologists. Awareness programs and advanced diagnostic techniques in the field of ophthalmology will help diagnose glaucoma at a detailed level, thus enabling ophthalmology to prescribe appropriate treatment for patients, which will positively impact the growth of the market during the forecast period.

Major Market Challenges

The advances in glaucoma surgeries are a major challenge in the market. For the treatment of open-angle glaucoma, prescription eye drops are a usual initial therapy option. The high cost and lack of patient adherence, other treatment options, such as devices and surgery, evolved over the years to treat open-angle glaucoma. These devices made glaucoma treatment easier and more effective. 

Moreover, MIGS are the new methods in glaucoma treatment. MIGS is offering new options to patients who do not meet the criteria for trabeculectomy. Compared to other invasive techniques, they have a higher safety profile with a lower complication rate and a faster recovery time. Several MIGS have been recently approved for the treatment of open-angle glaucoma. Therefore, the introduction of safe and effective MIGS is expected to hamper the growth of the market during the forecast period.

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Key Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments.

• Channel Outlook 
  • Hospital pharmacy
  • Retail pharmacy
  • Online Pharmacy

• Product Outlook 
  • PGAs
  • Non-PGAs

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • ROW
    • Australia
    • Argentina
    • Rest of the World

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Market Analyst Overview

The market responds to the pressing healthcare needs of patients with primary open-angle glaucoma (POAG) and primary angle-closure glaucoma (PACG), leveraging various drug classes and routes of administration. Alpha-adrenergic agonists and hyperosmotics are among the medications aimed at reducing intraocular pressure. Advances in combination medication, particularly prostaglandin analogs, target the prostaglandin receptor to enhance the outflow of fluid through the trabecular meshwork. Innovative treatments such as selective laser trabeculoplasty (SLT) and minimally invasive glaucoma surgery (MIGS) offer promising alternatives to traditional interventions. However, challenges such as high treatment costs and limited access to healthcare persist, prompting research into sustained-release drug delivery systems and targeted therapies to improve patient outcomes in collaboration with organizations like The Glaucoma Research Foundation and Nova Eye Medical.

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What are the Key Data Covered in the Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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