Approximately 8.9 million people in the United States have some form of glaucoma, yet only about 5.5 million of those people have been officially diagnosed. And of those, only around 3 million are compliant with their medication. With an anticipated 2.6% glaucoma growth rate over the next 5 years, largely due to an aging global population, Kristin H. Ingenito, MBA, Vice President, Director of Ophthalmics, Market Scope, said the interest in the glaucoma space is heavy.
“This is a really good, exciting space to be in,” Ingenito told the audience during Glaucoma 360 New Horizons Forum.
In the overall ophthalmic market, the combined annual growth rate over 5 years (2021-2026) is increasing by about 6%. However, global glaucoma revenue growth rates are already growing faster than the rest of the market, with glaucoma pharma growing at 6.5% and surgical devices at 16.9%
“We have seen the MIGS market sustain that growth so what this is showing me is that the ophthalmic market is accepting of new technologies that are effective and safe for patients and can be integrated into practice,” she said.
In the last year, 60 companies with no current products in ophthalmology, have publicly announced their intent to enter the ophthalmic market. Of the 10 companies that are focusing on glaucoma, 6 are for pharmaceuticals, 3 for devices, and 1 for a combination.
Amongst these new companies, Ingenito noted a strong interest in gene therapy for both retina and glaucoma, as well as diagnostics.
“The more companies that we have looking at our space, bringing innovation into our space, bringing funding and attention into our space, the better it is for everybody including our patients,” Ingenito said. “So, this is a really good indication of not just ophthalmology as a whole but also the excitement that’s building around glaucoma.”
Reference
Ingenito KH. The Pressure’s On: An Inside Look at the Glaucoma Treatment Market. Presented at: Glaucoma 360 New Horizons Forum 2022.
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