Market Scope forecasts that the glaucoma pharmaceuticals market will grow at a compound annual growth rate (CAGR) of 3.4 percent a year, totaling $5.3 billion by 2022.
Glaucoma is the second leading cause of blindness worldwide. The prevalence of glaucoma is on the rise as life spans increase and populations age worldwide. Market Scope estimates that, together, the global glaucoma and ocular hypertension (OHT) populations will total 154.1 million in 2022. The rate of diagnosis and treatment is increasing at a particularly brisk pace in emerging economies and much of the developing world where health care infrastructure and access to diagnostic and treatment technologies are improving. Glaucoma—particularly primary open-angle glaucoma (POAG), the most common form—is symptom free in its early stages, and the disease may progress to loss of visual field before a glaucoma sufferer seeks medical attention. OHT, the common predecessor of POAG, is also a symptom-free condition. Access to routine screening is a critical factor in the treatment rate for glaucoma and OHT.
Ophthalmologists use a variety of treatment modalities to address glaucoma in its various forms. Among them are pharmaceuticals, laser procedures, and incisional surgical interventions. Medications are the most common option and generally the first option. For decades, ophthalmologists have used prescription ocular hypotensive compounds to treat glaucoma and OHT. These medications aim to lower elevated intraocular pressure (IOP), one of the most common and significant risk factors for glaucoma’s progression and currently the only modifiable risk factor.
We expect the fastest growth in glaucoma pharmaceuticals to occur in the emerging markets of China, India, Latin America, and our Rest of World countries, which are starting from smaller bases. Incidence of glaucoma is increasing in these emerging markets and developing nations as populations age. Improved health care and economic development are helping to lengthen life spans, and glaucoma is highly correlated with age. Other factors driving growth are improved access to health care and rising affluence. These trends will be offset by increasing availability of inexpensive generic glaucoma medications that reduce average selling price.
There are dozens of competitors in the glaucoma pharmaceuticals market, but six companies (Novartis, Allergan, Santen, Pfizer, Bausch + Lomb, and Akorn) account for more than 85 percent of market revenues.
Market Scope published its 2017 Glaucoma Pharmaceuticals Report: A Global Market Analysis for 2016 to 2022 in August 2017. This report provides an overview of the types of glaucoma, disease etiology, glaucoma care providers, and diagnosis and treatment modalities. Market Scope models the prevalence of glaucoma by its major forms and includes forecasts for disease prevalence over the next five years by region. This report includes market data for 2016, and we forecast market performance through 2022. Our forecast also subdivides the glaucoma pharmaceuticals market into eight geographic/economic analytic categories: the US, Western Europe, Japan, Other Wealthy Nations, China, India, Latin America, and Rest of World.