GLAUCOMA EYE DROPS MARKET ANALYSIS

Glaucoma Eye Drops MarketSize and Trends

The Global Glaucoma Eye Drops Market is estimated to be valued at US$ 1,666.3 Mn in 2023 and is expected to exhibit a CAGR of 7.3% during the forecast period (2023-2030).

Market Trends

Increasing number of product launches are expected to boost the growth of the global glaucoma eye drops market over the forecast period. For instance, in December 2022, ENTOD INTERNATIONAL- a research-based ophthalmic, ENT & dermatology pharmaceutical company, announced the launch of a new division for the Glaucoma treatment segment to expand its business.

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.

Market Trends

Increasing mergers, acquisitions, and partnership scenarios in the market

The increasing mergers, acquisitions, and partnership scenarios can drive the growth of the global glaucoma eye drops market. For instance, in October 2022, Oculis- a global biopharmaceutical company specializing to safeguard sight and improve eye care, and European Biotech Acquisition Corp- a business equity firm, announced a business combination agreement to create a new biopharmaceutical company driving innovations in ophthalmology.

Global Glaucoma Eye Drops Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.

The COVID-19 pandemic had a negative impact on the global glaucoma eye drops market. This is because ophthalmologists were urged to discontinue non-urgent care. Since ophthalmic visits and surgeries are usually for non-life-threatening conditions, ophthalmology consultations decreased worldwide during the pandemic. According to an observational retrospective study that randomly selected 200 glaucoma patients with more than 3 months of unintended delay for their post-COVID visit, published in PubMed, on April 25, 2023, significantly higher Intra-ocular pressure values were observed in patients in the U.K during ophthalmology visits post the lifting of the lockdown.