Open Angle Glaucoma Market - Positive long-term growth outlook 2017 - 2025

Glaucoma is an ocular disease that can lead to loss of vision and impairment of optic nerve. The three types of glaucoma are: closed angle, open angle, and normal tension. Open angle glaucoma is also called wide angle glaucoma and is the most common type of glaucoma globally. Glaucoma is characterized by increase in intraocular pressure, which leads to damage of optic nerve. Improper functioning of optic nerve can lead to permanent vision loss. Glaucoma is generally more prevalent in the geriatric population along with other disease conditions such as diabetes. Risk factors for glaucoma consist of family history, obesity, high blood pressure, diabetes, increased pressure in eye, migraines, etc. Symptoms of glaucoma include loss of peripheral vision, eye redness, pain in eye, and narrowed vision. There is no pain in open angle glaucoma and it ripens slowly with time. However, closed angle glaucoma can develop suddenly. The sudden occurrence can be characterized by eye pain, blurred vision, dilated pupil, and eye redness. Treatments for open angle glaucoma include topical eye drops belonging to drug classes such as beta blockers, prostaglandins, carbonic anhydrase inhibitor, cholinergic drugs, alpha agonist, and combined medication. Topical eye drops is an alternative for surgery or to delay the surgical procedure. Growing awareness about early detection of glaucoma and treatment options available at affordable cost are expected to boost the growth of the global open angle glaucoma market during the forecast period. Increase in geriatric population, rise in diabetic population, growing awareness and affordable prices, new innovative drug combinations, and surge in number of myopia cases are the major factors driving the market. Side effects of glaucoma drugs and growth of the generic drugs market are projected to restrain the market during the forecast period.

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The global open angle glaucoma market can be segmented based on class of drug, distribution channel, and region. In terms of class of drug, the market can be categorized into beta blockers, prostaglandins, carbonic anhydrase inhibitor, cholinergic drugs, alpha agonist, and combined medication. Prostaglandins analogs are molecules that bind to prostaglandin receptor increasing the outflow of fluid from the eyes and reducing intraocular pressure. Beta blockers are also commonly used topical drugs, which reduce production of fluid inside the eyes. Combined medications are eye drops used in patients who require more than one medication. Cholinergic agents aid in the treatment of glaucoma by contracting the ciliary muscles, tightening the trabecular meshwork, and increasing the outflow of the fluid. Carbonic anhydrase inhibitor and alpha agonist are used to increase the outflow of fluid from the eyes, and thereby reduce intraocular pressure. Prostaglandins, beta blockers, and combined medication are the most widely used topical agents. Combined medication is anticipated to account for significant market share during the forecast period, followed by beta blockers and prostaglandins. Increase in prevalence of glaucoma globally has led to strong growth of the combined medication segment. The segment is expected to expand at high CAGR during the forecast period.

Based on distribution channel, the global open angle glaucoma market can be classified into hospitals, ophthalmic clinics, and ambulatory surgical centers. The hospitals segment captured a major market share in 2016 and is likely to sustain its leadership position during the forecast period. A large population prefers visiting hospitals first rather than ophthalmic clinics for treatment, as the cost of therapy at hospitals is lower. Ambulatory surgical centers is the less preferred option for the treatment of glaucoma.

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Geographically, the global open angle glaucoma market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe are projected to be major markets for open angle glaucoma treatment during the forecast period. North America is expected to continue to dominate the market during the forecast period due to increase in the geriatric population, growing awareness among the population regarding glaucoma, availability of reimbursements, and well-established health care infrastructure. Europe is anticipated to be the next dominant market during the forecast period due to increase in volume sales of topical eye drops especially beta blockers and upcoming new launches of combined medication products. The market in Asia Pacific is likely to expand at a high CAGR during the forecast period. The market in Latin America and Middle East & Africa is expected to grow at a sluggish CAGR from 2017 to 2025. Increased focus by federal governments on enhancing health care facilities and rising awareness among the population are the factors contributing to the growth of the market in these regions. Major players operating in the global open angle glaucoma market are Merck & Co., Allergan, Inc., Pfizer, Inc., Novartis AG., Valeant Pharmaceuticals, Santen Pharmaceuticals, and Aerie Pharmaceuticals. Players in the generic market are Fera Pharmaceuticals, Teva Pharmaceuticals, and Aristo Pharmaceuticals, among others.

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