At 2.6% CAGR, Middle East & Africa Glaucoma Therapeutics Market is Projected to be worth US$ 638.34 million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Middle East & Africa glaucoma therapeutics market was valued at US$ 518.94 million in 2023 and is expected to reach US$ 638.34 million by 2031, registering a CAGR of 2.6% from 2023 to 2031. Mounting incidence of glaucoma disease and increasing number of product launches, collaborations, and acquisitions are among the critical factors attributed to drive the Middle East & Africa hearing market growth.

Glaucoma is an eye disorder caused due to the damaged optic nerve, which can eventually lead to total blindness. Glaucoma patients may experience a gradual loss of nerve tissue, resulting in vision impairment or blindness if left untreated. Glaucoma cases are increasing significantly across the world. As per the Glaucoma Research Foundation, an estimated 22 million people worldwide would attain blindness due to glaucoma by 2040. Further, Glaucoma is a leading cause of blindness worldwide, affecting over 60 million people and leading to approximately 4.5 million cases of blindness, according to the World Health Organization. The demand for glaucoma treatments is increasing with the rising number of glaucoma cases in the global population. Medical and surgical procedures meant to manage this disease focus on lowering intraocular pressure (IOP). Prostaglandin analogs are among the drugs widely recommended for effectively reducing IOP by promoting better drainage from the eye. These products have been mainstream glaucoma treatment due to their efficacy and limited adverse effects.

On the contrary, the medication regimen compliance issues hamper the growth of Middle East & Africa glaucoma therapeutics market.

Based on drug class, the Middle East & Africa 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 49.0% market share in 2023, amassing US$ 254.24 million. It is projected to garner US$ 297.37 million by 2031 to register 2.0% CAGR during 2023–2031.

In terms of indication, the Middle East & Africa glaucoma therapeutics market is categorized into open angle glaucoma, angle closure glaucoma, and others. The open angle glaucoma segment held 80.5% share of Middle East & Africa glaucoma therapeutics market in 2023, amassing US$ 417.85 million. It is anticipated to garner US$ 518.84 million by 2031 to expand at 2.7% CAGR during 2023–2031.

By distribution channel, the Middle East & Africa glaucoma therapeutics market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy segment held 47.3% share of Middle East & Africa glaucoma therapeutics market in 2023, amassing US$ 245.68 million. It is projected to garner US$ 290.73 million by 2031 to expand at 2.1% CAGR from 2023 to 2031.

Based on country, the Middle East & Africa glaucoma therapeutics market is categorized into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 36.7% share of Middle East & Africa glaucoma therapeutics market in 2023. It was assessed at US$ 190.55 million in 2023 and is likely to hit US$ 232.34 million by 2031, registering a CAGR of 2.5% during 2023–2031.

Key players operating in the Middle East & Africa 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, AbbVie and iSTAR Medical SA have formed a strategic partnership to develop and commercialize iSTAR Medical's MINIject device for glaucoma patients. This partnership will support iSTAR Medical's efforts to develop and commercialize MINIject, while also providing an opportunity for AbbVie to expand its eye care business. AbbVie's glaucoma portfolio, which includes drops, sustained release implants, and stent offerings, will be complemented by this alliance.
• 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.

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