At 3.0% CAGR, Europe Glaucoma Therapeutics Market is Projected to be worth US$ 1,930.78 million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Europe glaucoma therapeutics market was valued at US$ 1,529.83 million in 2023 and is expected to reach US$ 1,930.78 million by 2031, registering a CAGR of 3.0% from 2023 to 2031. Development of wearable technologies and mounting incidence of glaucoma disease are among the critical factors attributed to drive the Europe hearing market growth.

Technological innovation has always been fundamental to any discipline of life sciences, including ophthalmology, as modern devices are key to accurate diagnosis and improved treatments. Advancements in treatments have enabled the improved treatment of glaucoma. Wearable glaucoma diagnostics and therapeutics products have emerged as potential solutions. Conventional diagnostic techniques provide reliable intraocular pressure data, while innovative contact lenses such as Sensimed Triggerfish offer continuous IOP tracking. Advanced drug-eluting contact lenses are also emerging as a potential solution for glaucoma therapy. n March 2023, SpyGlass Pharma released 6-month data from its first-in-human glaucoma treatment trial. The data shows that its new drug delivery platform, which is a single-piece, hydrophobic acrylic intraocular lens with drug-eluting pads, continues to significantly lower IOP in patients suffering from glaucoma or ocular hypertension. Thus, the development of such modern wearable products is likely to propel the demand for glaucoma therapeutics in the coming years.

On the contrary, the medication regimen compliance issues hampers the growth of Europe glaucoma therapeutics market.

Based on drug class, the Europe 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 49.1% market share in 2023, amassing US$ 750.76 million. It is projected to garner US$ 900.94 million by 2031 to register 2.3% CAGR during 2023–2031.

In terms of indication, the Europe glaucoma therapeutics market is categorized into open angle glaucoma, angle closure glaucoma, and others. The open angle glaucoma segment held 80.8% share of Europe glaucoma therapeutics market in 2023, amassing US$ 1,235.82 million. It is anticipated to garner US$ 1,574.53 million by 2031 to expand at 3.1% CAGR during 2023–2031.

By distribution channel, the Europe glaucoma therapeutics market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy segment held 48.1% share of Europe glaucoma therapeutics market in 2023, amassing US$ 735.09 million. It is projected to garner US$ 892.45 million by 2031 to expand at 2.5% CAGR from 2023 to 2031.

Based on country, the Europe glaucoma therapeutics market is categorized into Germany, France, the UK, Italy, Spain, and the Rest of Europe. Our regional analysis states that Germany captured 26.1% share of Europe glaucoma therapeutics market in 2023. It was assessed at US$ 399.34 million in 2023 and is likely to hit US$ 506.85 million by 2031, registering a CAGR of 3.0% during 2023–2031.

Key players operating in the Europe 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 July 2022, Bausch + Lomb Corporation and Sanoculis, an Israeli ophthalmic medical device start-up company, announced strategic agreements to address unmet needs in glaucoma. Bausch + Lomb has made an equity investment in Sanoculis as part of a Series C round of funding and entered into an exclusive European distribution agreement for Sanoculis' Minimally Invasive Micro Sclerostomy ("MIMS®"), an innovative surgical procedure for the treatment of glaucoma.
• 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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