With cases of diabetes spiraling up, the glaucoma treatment market is projected to expand at a lucrative pace through 2028. Glaucoma is claimed to be the second most common cause of blindness globally. The World Health Organization (WHO) states that an estimated 4.5 million people experience blindness caused by glaucoma.

Incidences of glaucoma are significantly higher across underdeveloped and developing nations that lack adequate healthcare facilities to diagnose and treat glaucoma at an early stage. According to reports, glaucoma is the leading cause of irreversible blindness in India, with at least 12 million people affected and nearly 1.2 million people blind from the disease.

Meanwhile, having diabetes is said to double the odds of encountering glaucoma, with the Centers for Disease Control and Prevention (CDC) stating that around 37.3 million US adults have diabetes. With escalating disease prevalence, cases of glaucoma might ramp up in the years to come, driving glaucoma treatment market growth.

The market for glaucoma treatment is bifurcated based on disease type, drug class, distribution channel and regional landscape.

With respect to disease type, the open-angle glaucoma segment is anticipated to register a 3.4% CAGR from 2022 to 2028. According to WHO, open-angle glaucoma (POAG) is one of the most common types of glaucoma.

High prevalence rate and spreading awareness about glaucoma disorders have compelled companies in the pharmaceutical domain to develop new treatments for POAG. In 2022, specialty pharmaceutical company, PharmaDrug Inc. announced the successful completion of a comparator study of its two undisclosed DMT-analogue candidates for primary open-angle glaucoma (POAG) treatment.

The carbonic anhydrase inhibitors drug segment was valued at over USD 1.3 billion in revenue in 2021. The treatment option is said to offer enhanced therapeutic results against glaucoma. Oral or topical carbonic anhydrase inhibitors exhibit a lower risk of serious adverse reactions, claims a study published in medical journal JAMA Ophthalmology. High adoption rate for moderate glaucoma treatment and new product launches and approvals are expected to accelerate market growth potential.

In terms of distribution channels, the retail pharmacy segment displayed a 32% market share in 2021. Expanding network of retail pharmacies across rural areas, developing digital healthcare infrastructure, and high accessibility and availability of products will bolster segmental growth. Major retail pharmacy players are now edging towards e-pharmacy services. In 2022, Walgreens revealed plans to expand its on-demand delivery services through its collaboration with online marketplace, Shipt.

The Latin America glaucoma treatment market is projected to foresee 2.5% CAGR during 2022-2028. Evolving healthcare infrastructure across countries like Brazil and Argentina will support this growth. According to reports, Brazil is the largest healthcare market in Latin America and spends 9.1% of its GDP on healthcare.

Increasing aging population, high prevalence of glaucoma and introduction of new market participants that are implementing several business growth strategies to broaden business reach will propel overall glaucoma treatment industry growth potential across the region.