The North America glaucoma therapeutics market was valued at US$ 2,634.52 million in 2023 and is expected to reach US$ 3,421.64 million by 2031; it is estimated to register a CAGR of 3.3% from 2023 to 2031.
Mounting Incidence of Glaucoma Disease Fuels North America Glaucoma Therapeutics Market
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. According to estimates provided in an article published in the Association for Research in Vision and Ophthalmology (ARVO) Journal in January 2021, the number of people suffering from glaucoma in Mexico would reach 2.5 million, 3 million, and 3.4 million by the end of 2030, 2040, and 2050, respectively. 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.
North America Glaucoma Therapeutics Market Overview
As per the Population Reference Bureau 2019, the number of individuals aged 65 and above in the US is estimated to double from 52 million (16% of the total population) in 2018 to nearly 95 million (23% of the total population) by 2060. A study conducted by the American Academy of Ophthalmology in 2019 states that nearly 7.32 million people aged 70-75 is estimated to be affected by primary open-angle glaucoma (POAG) in the US by 2050. Thus, the glaucoma therapeutics market growth in the US is primarily driven by the increasing prevalence of eye diseases, especially in the geriatric population. The US accounts for the largest share of the glaucoma therapeutics market in North America.
Various organic and inorganic growth strategies adopted by market players also contribute notably to the glaucoma therapeutics market progress in the US. A few of such growth strategies are mentioned below.
North America Glaucoma Therapeutics Market Revenue and Forecast to 2031 (US$ Million)
North America Glaucoma Therapeutics Market Segmentation
The North America glaucoma therapeutics market is categorized into drug class, indication, distribution channel, and country.
Based on drug class, the North 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 the largest market share in 2023.
In terms of indication, the North America glaucoma therapeutics market is categorized into open angle glaucoma, angle closure glaucoma, and others. The open angle glaucoma segment held the largest market share in 2023.
By distribution channel, the North America glaucoma therapeutics market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy segment held the largest market share in 2023.
By country, the North America glaucoma therapeutics market is segmented into the US, Canada, and Mexico. The US dominated the North America glaucoma therapeutics market share in 2023.
Alcon AG, AbbVie Inc, Bausch & Lomb Inc, Fera Pharmaceuticals, LLC, Viatris Inc, Novartis AG, Sun Pharmaceutical Industries Ltd, Teva Pharmaceuticals Industries Ltd, Thea Pharma Inc, and Santen Pharmaceutical Co., Ltd. are among the leading companies operating in the North America glaucoma therapeutics market.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 2,634.52 Million |
| Market Size by 2031 | US$ 3,421.64 Million |
| CAGR (2023 - 2031) | 3.3% |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Drug Class
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Glaucoma Therapeutics Market is valued at US$ 2,634.52 Million in 2023, it is projected to reach US$ 3,421.64 Million by 2031.
As per our report North America Glaucoma Therapeutics Market, the market size is valued at US$ 2,634.52 Million in 2023, projecting it to reach US$ 3,421.64 Million by 2031. This translates to a CAGR of approximately 3.3% during the forecast period.
The North America Glaucoma Therapeutics Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Glaucoma Therapeutics Market report:
The North America Glaucoma Therapeutics Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Glaucoma Therapeutics Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Glaucoma Therapeutics Market value chain can benefit from the information contained in a comprehensive market report.
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