Open-Angle Glaucoma Therapeutics Market by Channel, Product and Geography - Forecast and Analysis 2023-2027

Open-Angle Glaucoma Therapeutics Market 2023-2027:

The global open-angle glaucoma therapeutics market size is estimated to grow by USD 2,363.93 million at a CAGR of 6.4% between 2022 and 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.

Technavio has segmented the market into Channel, Product, and Geography

• The channel is classified into hospital pharmacy, retail pharmacy, and online pharmacy
• The product is classified into PGAS and non-PGAS 
• The geography segment includes key regions such as North America, Europe, Asia, and the Rest of the World (ROW)

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 Open-Angle Glaucoma Therapeutics Market During the Forecast Period?

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Open-Angle Glaucoma Therapeutics Market Segmentation by Channel, Product, and Geography

Channel Analysis:

Hospital pharmacy

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 3.035.97 million 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 global open-angle glaucoma therapeutics market through hospital pharmacy during the forecast period.

Product Analysis:

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 open-angle glaucoma therapeutics 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

Regional Analysis

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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.

In 2020, the COVID-19 outbreak negatively impacted the open-angle glaucoma market in North America. However, in late 2020, countries lifted lockdown restrictions, allowing people to move out of their homes.  There was no impact on demand for and availability of open-angle glaucoma drugs in North America, given the fact that pharmaceutical products were deemed to be a necessary service. The increasing prevalence of open-angle glaucoma in the region, the growing aging population, advancements in diagnostics and treatment options, improved healthcare infrastructure, and the presence of key players are expected to drive the growth of the open-angle glaucoma therapeutics market in North America during the forecast period.

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Key Open-Angle Glaucoma Therapeutics 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.

Open-Angle Glaucoma Therapeutics Market: Key Drivers, Trends, Challenges, and Customer Landscape

There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. 

Key Open-Angle Glaucoma Therapeutics Market Drivers

The promising pipeline and recent approvals are driving growth in an open-angle glaucoma therapeutics 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 global open-angle glaucoma therapeutics market during the forecast period.

Significant Open-Angle Glaucoma Therapeutics Market Trends

The growing awareness about glaucoma is a key trend in an open-angle glaucoma therapeutics 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 level that is detailed, thus enabling ophthalmology to prescribe appropriate treatment for patients, which will positively impact the growth of the global open-angle glaucoma therapeutics market during the forecast period.

Major Open-Angle Glaucoma Therapeutics Market Challenges

The advances in glaucoma surgeries are a major challenge in an open-angle glaucoma therapeutics 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 global open-angle glaucoma therapeutics market during the forecast period.

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Key Open-Angle Glaucoma Therapeutics 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 Open-Angle Glaucoma Therapeutics Market Customer Landscape

Segment Overview

The open-angle glaucoma therapeutics market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Channel Outlook (USD Million, 2017 - 2027)
  • Hospital pharmacy
  • Retail pharmacy
  • Online Pharmacy

• Product Outlook (USD Million, 2017 - 2027)
  • PGAs
  • Non-PGAs

• Region Outlook (USD Million, 2017 - 2027)
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • ROW
    • Australia
    • Argentina
    • Rest of the World

Open-Angle Glaucoma Therapeutics Market Scope
Report Coverage	Details
Page number	161
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 6.4%
Market growth 2023-2027	USD 2,363.93 million
Market structure	Concentrated
YoY growth 2022-2023(%)	5.5
Regional analysis	North America, Europe, Asia, and the Rest of the World (ROW)
Performing market contribution	North America at 51%
Key countries	US, Canada, UK, Germany, and China
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	AbbVie Inc., 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., and Teva Pharmaceutical Industries Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Open-Angle Glaucoma Therapeutics Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the Open-Angle Glaucoma Therapeutics Market between 2023 and 2027
• Precise estimation of the size of the open-angle glaucoma therapeutics market size and its contribution to the market in focus on the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies' position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market industry across North America, Europe, Asia, and the Rest of the World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of open-angle glaucoma therapeutics market companies

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