At 2.5% CAGR, South & Central America Glaucoma Therapeutics Market is Projected to be worth US$ 428.75 million by 2031, says Business Market Insights

According to Business Market Insights' research, the South & Central America glaucoma therapeutics market was valued at US$ 352.85 million in 2023 and is expected to reach US$ 428.75 million by 2031, registering a CAGR of 2.5% from 2023 to 2031. Development of novel drug delivery methods and mounting incidence of glaucoma disease are among the critical factors attributed to drive the South & Central America hearing market growth.

One of the most common treatment approaches for glaucoma management is to reduce intraocular pressure by using eye drops. Nonetheless, the rising focus on the development of improved formulations with enhanced stability, longer circulation times, and targeted binding properties is likely to add novel products to the market in the future. The use of nanoparticles with suitable structures and superior binding capabilities facilitates the better bioavailability and efficacy of drugs. Sustained release (SR) implants and other innovative drug delivery systems aid in improved patient compliance and reduced side effects compared to conventional eye drops. Several companies are developing SR drug delivery systems as an alternative to topical delivery to potentially overcome barriers associated with the treatment of primary open-angle glaucoma (POAG). As per an article published in PubMed Central in 2022, the only approved SR therapy for POAG by the FDA is Bimatoprost SR (DurystaTM) from Allergan plc. Bimatoprost ocular ring (Allergan), iDose (Glaukos Corporation), ENV515 (Envisia Therapeutics), OTX-TP (Ocular Therapeutix), OTX-TIC (Ocular Therapeutix), and latanoprost free acid SR (PolyActiva) are among other SR therapies that are under investigation. SR drug delivery technology in POAG management may shift treatment paradigms and dramatically improve outcomes. Therefore, the development of novel drug delivery methods is likely to remain a key trend in the glaucoma therapeutics market.

On the contrary, the medication regimen compliance issues hamper the growth of South & Central America glaucoma therapeutics market.

Based on drug class, the South & Central America 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$ 172.99 million. It is projected to garner US$ 199.87 million by 2031 to register 1.8% CAGR during 2023-2031.

In terms of indication, the South & Central America glaucoma therapeutics market is categorized into open angle glaucoma, angle closure glaucoma, and others. The open angle glaucoma segment held 80.7% share of South & Central America glaucoma therapeutics market in 2023, amassing US$ 284.76 million. It is anticipated to garner US$ 349.58 million by 2031 to expand at 2.6% CAGR during 2023-2031.

By distribution channel, the South & Central America glaucoma therapeutics market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy segment held 47.8% share of South & Central America glaucoma therapeutics market in 2023, amassing US$ 168.67 million. It is projected to garner US$ 197.15 million by 2031 to expand at 2.0% CAGR from 2023 to 2031.

Based on country, the South & Central America glaucoma therapeutics market is categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 42.6% share of South & Central America glaucoma therapeutics market in 2023. It was assessed at US$ 150.36 million in 2023 and is likely to hit US$ 187.89 million by 2031, registering a CAGR of 2.8% during 2023-2031.

Key players operating in the South & Central America 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 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.
• 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.

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