Global Glaucoma Market Size, Share, Growth Analysis, By Type(primary open-angle glaucoma (POAG), angle-closure glaucoma (ACG)), By Application(Pharmaceuticals, Surgery) - Industry Forecast 2023-2030

Global Glaucoma Market size was valued at USD 5.7 billion in 2021 and is poised to grow from USD 7.8 billion in 2022 to USD 11.2 billion by 2030, growing at a CAGR of 5.6% in the forecast period (2023-2030).

The global glaucoma market is experiencing consistent growth driven by several factors. A primary catalyst is the escalating prevalence of glaucoma, a persistent eye condition that, if untreated, results in progressive vision loss. The increasing elderly population and a surge in chronic eye diseases contribute significantly to the expansion of the market. Advancements in diagnostic and treatment technologies, encompassing minimally invasive surgeries and laser therapies, further propel the market forward. Nevertheless, obstacles such as the elevated cost of treatment and restricted healthcare accessibility in specific regions act as impediments to market enlargement. Furthermore, the market is marked by intense competition among major players, fostering ongoing research and development endeavors to create innovative and efficient solutions for glaucoma management.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Glaucoma Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to get the final quantitative and qualitative data.

Global Glaucoma Market Segmental Analysis

The global glaucoma market is segmented by type, application, and region. Based on type, the market can be segmented into primary open-angle glaucoma (POAG), angle-closure glaucoma (ACG), normal-tension glaucoma (NTG), and secondary glaucoma. Based on application, the market is segmented into pharmaceuticals, surgery, and devices. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Market Dynamic

Drivers

Growing Prevalence Of Glaucoma

A significant driver of the global glaucoma market is the escalating prevalence of glaucoma on a global scale. The aging demographic and the increasing occurrence of chronic conditions like diabetes and hypertension contribute to the rising incidence of glaucoma cases. Given its status as a leading cause of irreversible blindness, there is a pressing need for early detection, diagnosis, and treatment of glaucoma, fueling the demand for innovative solutions in glaucoma management, including advanced diagnostic tools, medications, and surgical interventions.

Restraints

Limited Awareness

Glaucoma often lacks noticeable symptoms in its early stages, making diagnosis challenging without regular eye examinations. The deficiency in awareness among individuals and healthcare professionals can result in delayed diagnosis and treatment, leading to irreversible vision loss. Moreover, the substantial costs associated with glaucoma management, covering medications, surgeries, and ongoing follow-up care, can create barriers to access for patients, particularly in low-income and middle-income countries.

Market Trends

A prominent trend in the global glaucoma market is the increasing uptake of cutting-edge diagnostic technologies and treatment alternatives. Glaucoma, a progressive eye ailment with the potential for irreversible vision loss, necessitates early detection and intervention to mitigate further harm. Consequently, there is a growing emphasis on prompt diagnosis, regular screenings, and the application of advanced imaging techniques to facilitate accurate and timely identification of glaucoma. Essential to this trend are sophisticated diagnostic technologies such as optical coherence tomography (OCT), visual field testing, and tonometry, which play a pivotal role in enhancing the precision and monitoring of glaucoma.