Glaucoma Market Size, Share, Trends, Development Strategies and Segmentation Analysis
Glaucoma is more common in people over 60, family members of those already diagnosed with the disease, steroid users, diabetics, and those with high myopia, hypertension, a central cornea thickness of less than 5 mm, and eye injury. Glaucoma is anticipated to affect around 85 million individuals by 2022, with that figure expected to rise to 111.8 million by 2040.
Global primary angle-closure glaucoma market is expected to reach USD 340.82 million by 2028 from USD 217.01 million in 2020, growing with a CAGR of 6.1% in the forecast period of 2021 to 2028. Increasing demand for advanced medical technologies for diagnostic and treatment purposes and the increasing population of women and greater female to male ratio in angle closure glaucoma due to various anatomical and hormonal factors are some of the drivers boosting the market’s growth. Rising geriatric population base, increasing awareness about the availability of treatment options in the developing economies and increasing personal disposable income are some other important market growth determinants.
Rise in the geriatric population base globally is expected to drive the market’s growth rate
Geriatric population is the most susceptible to developing chronic diseases and disorders. Therefore, rising geriatric populace all around the world is extremely vulnerable to developing eye related diseases and disorders and other chronic diseases. This in turn will act as an important market growth determinant. Increased expenditure by public and private players on the development of healthcare infrastructure will also promote the market growth rate. Continuous research and development pertaining to the deployment of advanced healthcare technologies will yet again widen the scope of growth.
Market Development –
- In October 2019, MicroSurgical Technology announced that they have acquired the Trabectome and Goniotome surgical system from Neomedix Corporation. Trabectome is used in major surgical technology for glaucoma. This acquisition increased the company’s product portfolio and enhanced the profit for the company. Trabectome achieves long-term IOP reduction by removing the trabecular meshwork via electrosurgical ablation. Goniotome I/A helps maintain a stable, clean anterior chamber while enhancing angle visibility, while Goniotome excises the trabecular meshwork with serrated blades.
- Johnson & Johnson Vision Care, Inc. announced in June 2020 that it will donate to Optometry Cares — The American Optometric Association Foundation (AOA) Foundation and the American Academy of Optometry Foundation. As an AOA Recovery Partner, Johnson & Johnson Vision will make a donation to Optometry Cares, the charitable Foundation of the AOA, optometry’s premier philanthropic and charitable organisation dedicated to expanding eye health and vision care access to everyone in the United States in order to enhance human performance a total of USD 0.30 million was donated by the company for the practitioner in their support to provide eye care to the community affected by COVID-19. The money will go to practitioners who have been uniquely affected by COVID-19.
- Aerie Pharmaceuticals and Santen Pharmaceuticals partnered in December 2021 to develop and market Rhopressa/Rhokiinsa and Rocklatan/Roclanda for glaucoma therapy in Europe, India, China, Oceania, and parts of Latin America. Both companies’ market positions in these regions will be strengthened as a result of this. Aerie will get a $50 million upfront payment as well as up to $99 million in development and sales milestones under the terms of the agreement. Aerie is also eligible for additional compensation in excess of 25% of the items’ net sales, which includes the cost of supplies supplied by Aerie to Santen as well as a royalty for Aerie’s intellectual property. Santen will be in charge of the products’ sales, marketing, and pricing decisions.
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