GLAUCOMA EYE DROPS MARKET ANALYSIS

Market Challenges And Opportunities

Global Glaucoma Eye Drops Market – Driver

Increasing product launches by key market players

The growing product launches by biopharmaceutical companies are a major factor leading to the high demand for glaucoma eye drops. For instance, on May 9, 2023, Upsher-Smith Laboratories, LLC- a U.S-based biopharmaceutical company, launched brimonidine tartrate and timolol maleate ophthalmic solution, 0.2%/0.5%. The eye drop lowers eye pressure in patients with open-angle glaucoma.

• Product Recalls
• Side effects of eye drops used to treat glaucoma

Increasing splurges by governments and international institutions to support R&D activities

Governments and international organizations around the globe are increasing their funding activities for glaucoma R&D, which is a lucrative growth opportunity for the glaucoma eye drops market. For instance, in the U.S., the National Eye Institute (NEI) is an organization that funds various major glaucoma research activities. In 2020, NEI supported about 200 grants and five contracts of US$ 78 Mn for the research activities related to glaucoma.

Global Glaucoma Eye Drops Market: Restraints

Product recalls

Increasing product recalls due to faults in manufacturing and production can restrain the growth of the global glaucoma eye drops market. For instance, Apotex Inc. - a Canada-based pharmaceutical corporation, announced the voluntary recall of 6 lots of Brimonidine Tartrate Ophthalmic Solution, 0.15% due to cracks found in the unit caps of the solution bottles. The prescription drops are used for patients with open-angle glaucoma or ocular hypertension.

Side effects of eye drops used to treat glaucoma

The potential side effects of medications used to treat glaucoma can restrain the growth of the global glaucoma eye drops market. For instance, according to an article published in January 2022, by PubMed- a free biological database for medical reports, a class of medications called cholinergic agents, (used to treat glaucoma) such as pilocarpine, can cause reported side effects including headache, urinary retention, small pupils, and blurred vision.