At 3.5% CAGR, Asia Pacific Glaucoma Therapeutics Market is Projected to be worth US$ 1,598.41 million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific glaucoma therapeutics market was valued at US$ 1,211.80 million in 2023 and is expected to reach US$ 1,598.41 million by 2031, registering a CAGR of 3.5% from 2023 to 2031. Increasing number of product launches, collaborations, and acquisitions and development of wearable technologies are among the critical factors attributed to drive the Asia Pacific hearing market growth.

Glaucoma therapeutics manufacturers are implementing strategies such as strategic alliances, geographic expansions, partnerships, mergers & acquisitions, and product/service launches to mark their presence in the market.

• In March 2024, MediPrint Ophthalmics, a company that specializes in innovative ocular drug delivery technologies, announced the successful completion of its Phase 2b Glaucoma SIGHT-2 study.
• In December 2023, the US Food and Drug Administration (FDA) approved Glaukos Corporation’s New Drug Application (NDA) for iDose TR (travoprost intracameral implant) 75 mcg, a prostaglandin analog indicated for the reduction of IOP in patients with ocular hypertension (OHT) or open-angle glaucoma (OAG). The drug was approved for a single administration per eye.
• In November 2022, Alcon acquired Aerie Pharmaceuticals, Inc. Through the transaction, Alcon acquired Rocklatan (netarsudil and latanoprost ophthalmic solution) 0.02%/0.005%; Rhopressa (netarsudil ophthalmic solution) 0.02%; AR-15512, a Phase 3 product candidate for dry eye disease; and a pipeline of several preclinical and clinical ophthalmic pharmaceutical product candidates. Rocklatan and Rhopressa are Rho-kinase inhibitors indicated for the reduction of elevated IOP in patients with open-angle glaucoma or ocular hypertension. With this acquisition, Alcon takes a step forward to broaden its portfolio with the inclusion of glaucoma, and retinal and ocular surface disease therapeutics.
• In March 2022, Johnson & Johnson Vision Care, Inc. received FDA approval for its new ACUVUE Theravision variant, a type of contact lens containing an antihistamine called ketotifen (19 µg per lens). ACUVUE Theravision with Ketotifen is the first of its kind and is designed to provide a new wearing experience for contact lens users, experiencing allergic eye itch.

Such product launches, collaborations, and acquisitions contribute significantly to the growth of the glaucoma therapeutics market.

On the contrary, the medication regimen compliance issues hamper the growth of Asia Pacific glaucoma therapeutics market.

Based on drug class, the Asia Pacific glaucoma therapeutics market is segmented into beta blockers, alpha adrenergic agonists, prostaglandins analogues, carbonic anhydrase inhibitors, combination drugs, and others. The prostaglandins analogues segment held 48.8% market share in 2023, amassing US$ 591.28 million. It is projected to garner US$ 731.09 million by 2031 to register 2.7% CAGR during 2023–2031.

In terms of indication, the Asia Pacific glaucoma therapeutics market is categorized into open angle glaucoma, angle closure glaucoma, and others. The open angle glaucoma segment held 80.5% share of Asia Pacific glaucoma therapeutics market in 2023, amassing US$ 975.12 million. It is anticipated to garner US$ 1,300.06 million by 2031 to expand at 3.7% CAGR during 2023–2031.

By distribution channel, the Asia Pacific glaucoma therapeutics market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy segment held 47.7% share of Asia Pacific glaucoma therapeutics market in 2023, amassing US$ 577.71 million. It is projected to garner US$ 756.76 million by 2031 to expand at 3.4% CAGR from 2023 to 2031.

Based on country, the Asia Pacific glaucoma therapeutics market is categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 30.9% share of Asia Pacific glaucoma therapeutics market in 2023. It was assessed at US$ 374.81 million in 2023 and is likely to hit US$ 522.84 million by 2031, registering a CAGR of 4.2% during 2023–2031.

Key players operating in the Asia Pacific glaucoma therapeutics market are Alcon AG, AbbVie Inc, Bausch & Lomb Inc, LLC, Viatris Inc, Novartis AG, Sun Pharmaceutical Industries Ltd, Teva Pharmaceuticals Industries Ltd, Thea Pharma Inc, and Santen Pharmaceutical Co., Ltd., among others.

• In February 2021, Santen Pharmaceutical Co., Ltd. and Ube Industries, Ltd. announced that Santen Pharmaceutical Korea Co., Ltd. launched the glaucoma and ocular hypertension treatment EYBELIS Ophthalmic Solution 0.002%. Santen and Ube Industries collaborated to develop EYBELIS, an ophthalmic solution for glaucoma and ocular hypertension. It was launched in Japan in November 2018 and South Korea is the first Asian country, other than Japan, to sell EYBELIS. Approval for marketing in other Asian countries has also been sought.
• In November 2022, Alcon acquired Aerie Pharmaceuticals. This transaction affirms Alcon’s commitment to the ophthalmic pharmaceutical space and is expected to add broader pharmaceutical R&D capabilities to the company’s existing commercial expertise, maximizing the value of its diversified portfolio.

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