Prostaglandin Analogs Market
PUBLISHED: 2024 ID: SMRC27821
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Prostaglandin Analogs Market

Prostaglandin Analogs Market Forecasts to 2030 - Global Analysis By Product Type (Latanoprost, Bimatoprost, Travoprost, Tafluprost and Other Product Types), Route of Administration (Topical, Oral and Injectable), Distribution Channel, Application and By Geography

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Published: 2024 ID: SMRC27821

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Prostaglandin Analogs Market is accounted for $3.9 billion in 2024 and is expected to reach $6.1 billion by 2030, growing at a CAGR of 7.5% during the forecast period. Synthetic substances called prostaglandin analogs replicate the actions of natural prostaglandins, which are lipid molecules involved in a number of physiological functions like inflammation and smooth muscle contraction. To reduce intraocular pressure in diseases like glaucoma, these analogs are frequently used in medical treatments, particularly in ophthalmology.  

According to clinical research published in Frontiers in Pharmacology, prostaglandin analogs (PGAs) are considered the first-line treatment for glaucoma, with the most effective long-term therapy being 0.03% bimatoprost, followed by 0.005% latanoprost and 0.004% travoprost.

Market Dynamics:

Driver: 

Rising prevalence of ophthalmic conditions

The increasing incidence of glaucoma, ocular hypertension, and other eye disorders is driving demand for prostaglandin analogs. As the global population ages, the prevalence of these conditions is growing, necessitating effective treatments. Prostaglandin analogs have become a first-line therapy for many ophthalmic issues due to their efficacy in lowering intraocular pressure. The rising disease burden is compelling more patients to seek treatment, fueling market growth.

Restraint:

High costs

The high costs associated with branded prostaglandin analog medications can limit patient access and market growth, especially in developing regions. Patent protection allows manufacturers to charge premium prices for these drugs. The expenses of research, development, clinical trials, and regulatory approvals are reflected in the final product costs. For many patients, the long-term use of these medications represents a significant financial burden. This cost barrier may lead some to opt for alternative, less expensive treatments.

Opportunity:

Expansion into new therapeutic areas

There is potential to expand the use of prostaglandin analogs beyond glaucoma and ocular hypertension into other therapeutic areas. Ongoing research is exploring their efficacy for conditions like dry eye disease, retinal disorders, and corneal healing. The anti-inflammatory and neuroprotective properties of these drugs make them promising candidates for various ophthalmic applications. Successful development of new indications would significantly expand the market and provide additional revenue streams for manufacturers.

Threat:

Regulatory challenges

Stringent regulatory requirements for ophthalmic medications pose a threat to market growth. Obtaining and maintaining regulatory approvals for prostaglandin analogs can be a lengthy and costly process. Changing regulations, safety concerns, or adverse events could lead to market withdrawals or restrictions. Post-marketing surveillance and pharmacovigilance requirements add to operational costs. Navigating the complex regulatory landscape across different regions presents ongoing challenges for manufacturers in this market.

Covid-19 Impact: 

The COVID-19 pandemic disrupted the prostaglandin analogs market in several ways. Lockdowns and safety measures led to reduced patient visits for routine eye care, potentially delaying diagnoses and treatment initiations. Supply chain disruptions affected manufacturing and distribution. However, the pandemic also accelerated the adoption of telemedicine for ophthalmic care, potentially improving long-term access to prescriptions and follow-ups. As healthcare systems recover, pent-up demand for eye care services may drive market growth.

The topical segment is expected to be the largest during the forecast period

The topical segment is predicted to secure the largest market share throughout the forecast period. Topical administration, primarily through eye drops, is the dominant route for prostaglandin analogs. This method offers several advantages, including direct delivery to the target site, minimal systemic absorption, and ease of use for patients. Topical formulations allow for precise dosing and reduced side effects compared to systemic treatments. The convenience of once-daily application for many prostaglandin analog eye drops improves patient compliance. Ongoing innovations in topical drug delivery systems, such as preservative-free formulations and sustained-release technologies, are further driving the growth of this segment.

The ocular hypertension segment is expected to have the highest CAGR during the forecast period

The ocular hypertension segment is projected to witness substantial growth during the projection period. Ocular hypertension, characterized by elevated intraocular pressure without optic nerve damage or visual field loss, represents a significant market opportunity. Early intervention with prostaglandin analogs can effectively manage intraocular pressure and potentially prevent progression to glaucoma. The growing awareness of ocular hypertension as a risk factor for glaucoma is leading to increased screening and treatment initiation. As diagnostic technologies improve, more cases are being identified at earlier stages. The preventive approach to managing ocular hypertension is expected to drive rapid growth in this segment.

Region with largest share:

The North America region is projected to account for the largest market share during the forecast period. The region has a high prevalence of glaucoma and ocular hypertension, coupled with an aging population. Advanced healthcare infrastructure and high healthcare spending enable greater access to these medications. Strong presence of key market players and ongoing research activities contribute to market leadership. Additionally, favorable reimbursement policies and insurance coverage for glaucoma treatments support market growth.

Region with highest CAGR:

The Asia Pacific region is projected to achieve the highest CAGR during the forecast period. Factors driving this include a large and aging population, increasing prevalence of eye disorders, and improving healthcare access. Rising disposable incomes and an expanding middle class in countries like China and India are enabling greater affordability of advanced treatments. Government initiatives to combat blindness and improve eye care are creating a favorable market environment. Growing awareness of eye health and expanding healthcare infrastructure are also contributing to market expansion in this region.

Key players in the market

Some of the key players in Prostaglandin Analogs Market include Pfizer Inc., Allergan plc, Novartis AG, Bayer AG, GlaxoSmithKline plc, Merck & Co., Inc., Santen Pharmaceutical Co., Ltd., Ocular Therapeutix, Inc., Aerie Pharmaceuticals, Inc., Sun Pharmaceutical Industries Ltd., Yonsung Fine Chemicals, Everlight Chemical, Piramal Enterprises, Bio-Techne Corporation, Mironova Labs, Chirogate, Cepia, LLC, and Johnson Matthey.

Key Developments:

In October 2024, GSK plc and Chimagen Biosciences (Chimagen), a privately held biotechnology company, announced an agreement for GSK to acquire CMG1A46, a clinical-stage dual CD19 and CD20-targeted T cell-engager (TCE), from Chimagen for $300 million upfront. GSK plans to develop and commercialise CMG1A46 with a focus on B cell-driven autoimmune diseases, such as systemic lupus erythematosus (SLE) and lupus nephritis (LN), with potential to expand into related autoimmune diseases.

In September 2024, Novartis announced that the US Food and Drug Administration (FDA) has approved Kisqali® (ribociclib) in combination with an aromatase inhibitor (AI) for the adjuvant treatment of people with hormone receptor-positive/human epidermal growth factor receptor 2-negative (HR+/HER2-) stage II and III early breast cancer (EBC) at high risk of recurrence, including those with node-negative (N0) disease.

In November 2023, Santen received European Commission approval for Catiolanze®, a cationic emulsion of latanoprost 50μg/mL. This preservative-free prostaglandin analog is indicated for lowering intraocular pressure in patients with open-angle glaucoma or ocular hypertension. The approval follows positive results from a Phase III clinical trial that demonstrated non-inferiority to traditional latanoprost solutions and improved outcomes for patients with Ocular Surface Disease (OSD).

Product Types Covered:
• Latanoprost
• Bimatoprost
• Travoprost
• Tafluprost
• Other Product Types

Route of Administrations Covered:
• Topical
• Oral
• Injectable

Distribution Channels Covered:
• Hospital Pharmacies
• Retail Pharmacies
• Specialty Pharmacies
• Online Distribution

Applications Covered:
• Glaucoma Treatment
• Lash Growth Enhancement
• Ocular Hypertension
• Dry Eye Disease
• Gastric Protection
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary      
       
2 Preface      

 2.1 Abstract     
 2.2 Stake Holders     
 2.3 Research Scope     
 2.4 Research Methodology     
  2.4.1 Data Mining    
  2.4.2 Data Analysis    
  2.4.3 Data Validation    
  2.4.4 Research Approach    
 2.5 Research Sources     
  2.5.1 Primary Research Sources    
  2.5.2 Secondary Research Sources    
  2.5.3 Assumptions    
       
3 Market Trend Analysis      
 3.1 Introduction     
 3.2 Drivers     
 3.3 Restraints     
 3.4 Opportunities     
 3.5 Threats     
 3.6 Product Analysis     
 3.7 Application Analysis     
 3.8 Emerging Markets     
 3.9 Impact of Covid-19     
       
4 Porters Five Force Analysis      
 4.1 Bargaining power of suppliers     
 4.2 Bargaining power of buyers     
 4.3 Threat of substitutes     
 4.4 Threat of new entrants     
 4.5 Competitive rivalry     
       
5 Global Prostaglandin Analogs Market, By Product Type      
 5.1 Introduction     
 5.2 Latanoprost     
 5.3 Bimatoprost     
 5.4 Travoprost     
 5.5 Tafluprost     
 5.6 Other Product Types     
       
6 Global Prostaglandin Analogs Market, By Route of Administration      
 6.1 Introduction     
 6.2 Topical     
 6.3 Oral     
 6.4 Injectable     
       
7 Global Prostaglandin Analogs Market, By Distribution Channel      
 7.1 Introduction     
 7.2 Hospital Pharmacies     
 7.3 Retail Pharmacies     
 7.4 Specialty Pharmacies     
 7.5 Online Distribution     
       
8 Global Prostaglandin Analogs Market, By Application      
 8.1 Introduction     
 8.2 Glaucoma Treatment     
 8.3 Lash Growth Enhancement     
 8.4 Ocular Hypertension     
 8.5 Dry Eye Disease     
 8.6 Gastric Protection     
 8.7 Other Applications     
       
9 Global Prostaglandin Analogs Market, By Geography      
 9.1 Introduction     
 9.2 North America     
  9.2.1 US    
  9.2.2 Canada    
  9.2.3 Mexico    
 9.3 Europe     
  9.3.1 Germany    
  9.3.2 UK    
  9.3.3 Italy    
  9.3.4 France    
  9.3.5 Spain    
  9.3.6 Rest of Europe    
 9.4 Asia Pacific     
  9.4.1 Japan    
  9.4.2 China    
  9.4.3 India    
  9.4.4 Australia    
  9.4.5 New Zealand    
  9.4.6 South Korea    
  9.4.7 Rest of Asia Pacific    
 9.5 South America     
  9.5.1 Argentina    
  9.5.2 Brazil    
  9.5.3 Chile    
  9.5.4 Rest of South America    
 9.6 Middle East & Africa     
  9.6.1 Saudi Arabia    
  9.6.2 UAE    
  9.6.3 Qatar    
  9.6.4 South Africa    
  9.6.5 Rest of Middle East & Africa    
       
10 Key Developments      
 10.1 Agreements, Partnerships, Collaborations and Joint Ventures     
 10.2 Acquisitions & Mergers     
 10.3 New Product Launch     
 10.4 Expansions     
 10.5 Other Key Strategies     
       
11 Company Profiling      
 11.1 Pfizer Inc.     
 11.2 Allergan plc     
 11.3 Novartis AG     
 11.4 Bayer AG     
 11.5 GlaxoSmithKline plc     
 11.6 Merck & Co., Inc.     
 11.7 Santen Pharmaceutical Co., Ltd.     
 11.8 Ocular Therapeutix, Inc.     
 11.9 Aerie Pharmaceuticals, Inc.     
 11.10 Sun Pharmaceutical Industries Ltd.     
 11.11 Yonsung Fine Chemicals     
 11.12 Everlight Chemical     
 11.13 Piramal Enterprises     
 11.14 Bio-Techne Corporation     
 11.15 Mironova Labs     
 11.16 Chirogate     
 11.17 Cepia, LLC     
 11.18 Johnson Matthey     
       
List of Tables       
1 Global Prostaglandin Analogs Market Outlook, By Region (2022-2030) ($MN)      
2 Global Prostaglandin Analogs Market Outlook, By Product Type (2022-2030) ($MN)      
3 Global Prostaglandin Analogs Market Outlook, By Latanoprost (2022-2030) ($MN)      
4 Global Prostaglandin Analogs Market Outlook, By Bimatoprost (2022-2030) ($MN)      
5 Global Prostaglandin Analogs Market Outlook, By Travoprost (2022-2030) ($MN)      
6 Global Prostaglandin Analogs Market Outlook, By Tafluprost (2022-2030) ($MN)      
7 Global Prostaglandin Analogs Market Outlook, By Other Product Types (2022-2030) ($MN)      
8 Global Prostaglandin Analogs Market Outlook, By Route of Administration (2022-2030) ($MN)      
9 Global Prostaglandin Analogs Market Outlook, By Topical (2022-2030) ($MN)      
10 Global Prostaglandin Analogs Market Outlook, By Oral (2022-2030) ($MN)      
11 Global Prostaglandin Analogs Market Outlook, By Injectable (2022-2030) ($MN)      
12 Global Prostaglandin Analogs Market Outlook, By Distribution Channel (2022-2030) ($MN)      
13 Global Prostaglandin Analogs Market Outlook, By Hospital Pharmacies (2022-2030) ($MN)      
14 Global Prostaglandin Analogs Market Outlook, By Retail Pharmacies (2022-2030) ($MN)      
15 Global Prostaglandin Analogs Market Outlook, By Specialty Pharmacies (2022-2030) ($MN)      
16 Global Prostaglandin Analogs Market Outlook, By Online Distribution (2022-2030) ($MN)      
17 Global Prostaglandin Analogs Market Outlook, By Application (2022-2030) ($MN)      
18 Global Prostaglandin Analogs Market Outlook, By Glaucoma Treatment (2022-2030) ($MN)      
19 Global Prostaglandin Analogs Market Outlook, By Lash Growth Enhancement (2022-2030) ($MN)      
20 Global Prostaglandin Analogs Market Outlook, By Ocular Hypertension (2022-2030) ($MN)      
21 Global Prostaglandin Analogs Market Outlook, By Dry Eye Disease (2022-2030) ($MN)      
22 Global Prostaglandin Analogs Market Outlook, By Gastric Protection (2022-2030) ($MN)      
23 Global Prostaglandin Analogs Market Outlook, By Other Applications (2022-2030) ($MN)      
       
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.       

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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