Glaucoma Therapeutics Market projecting a CAGR of 2.96% during the forecast period, 2020-2026
Published | 17 March 2020
According to BlueWeave
Consulting, the global Glaucoma Therapeutics market has reached USD 6.27
Billion in 2019 and estimated to reach USD 7.65 Billion in 2026 and anticipated
to grow by CAGR of 2.96% during the forecast period 2020-2026. Glaucoma
prevalence is oriented towards the geriatric population, and the rising
geriatric population globally is likely to have a positive impact on the global
market.
Glaucoma has affected about
64 million people worldwide. Glaucoma is a condition that can affect the optic
nerve, and any level of glaucoma can result in partial or complete blindness.
The severity of glaucoma has led to increased awareness among end-users of ways
to manage glaucoma, and people realized the importance of early detection and
treatment of this disease. Besides, improved diagnostic tools for glaucoma
diagnosis are likely to favor the development of the global Glaucoma
Therapeutics Market in the years ahead. These are high glaucoma prevalence,
enhanced technical support during diagnosis, and increased awareness of glaucoma-related
care. Such factors will push the global market for glaucoma therapy to the
forefront. With the introduction of pipeline products during the forecast
period for the launch of late-stage products into the glaucoma market. The
drugs include the DE-117 drug from Santen and another with unspecified MOA,
Roclatan fixed-dose combination therapy from Aerie, and two Sustained-release
(SR) implants.
Transforming
lifestyle is one of the key factors for driving global Glaucoma Therapeutics
market in upcoming years
Changing a lifestyle where
people spend a lot of time in front of a smart gadget which emits blue ray.
This introduction now begins at a very early age. It is also common in older
generations who are more vulnerable to such diseases than younger-age
individuals. The rise in the geriatric population can also be seen to determine
the future direction for the glaucoma therapy market. There are also various
treatments available to counter the problem. One such is the relatively
inexpensive and precise laser treatment. In addition, increasing patient
awareness of glaucoma and the introduction of favorable reimbursement policies
are some of the main factors predicted to boost the growth of the glaucoma
therapy market in North America in the coming years.
Prostaglandin
Analogues to be the Most Widely Used In Drug Class
Prostaglandin Analogues hold
the highest market share in the year 2026. Prostaglandins have changed the face
of the care scenario for glaucoma and are used as first-line glaucoma therapy.
The segment of prostaglandin analogs represented a significant market share in
2019 and is expected to remain dominant throughout the 2020-2026 forecast
period. Besides, the increasing adoption of prostaglandin analogs is likely to
favor the growth of the global therapeutic market for glaucoma. Key factors
such as government initiatives and population health awareness programs will
drive market growth, and postoperative complications that occur after glaucoma
surgery will catalyze the global glaucoma therapy market.
North
America expected to witness significant growth in the market in the upcoming
years
Due to the large health-care
system, North America is expected to dominate the glaucoma therapy market.
Followed by North America, Europe & Asia-Pacific will lead in the coming
years to significant growth in the global glaucoma market. Consistent Increase
in Glaucoma Prevalence Rising market growth with the highest rate in the Asia
Pacific. The North American region's superiority is due to the US's effective care
system for severe ophthalmological disorders, and the provision of
well-equipped medical facilities for glaucoma diagnosis. Asia Pacific is
expected to see relatively significant CAGR in 2019-2026 due to the increasing
number of cases diagnosed with glaucoma in countries such as China and India
and efforts being made by public authorities in those countries to prevent and
monitor glaucoma. The increasing geriatric population in Japan also contributes
to the Asia-Pacific glaucoma therapy market.
Browse Detailed Table of
Contents, “Glaucoma Therapeutics Market,
By Drug Class (Beta Blockers, Prostaglandins, Alpha Adrenergic Agonists,
Carbonic Anhydrase Inhibitors and Combination Drugs), By Disease Indication
(Open Angle Glaucoma, Angle Closure Glaucoma), By Distribution Channel
(Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), By Region (North
America, Europe, Asia Pacific, Latin America, and Middle East & Africa);
Trend Analysis, Competitive Market Share & Forecast, 2016-26”
AT
Glaucoma
Therapeutics: Competitive Landscape
The major market players in
Glaucoma Therapeutics are Merck & Co., Inc., Novartis AG, Allergan plc,
Bausch & Lomb Incorporated, Teva Pharmaceutical Industries, Aerie
Pharmaceutical, Pfizer Inc., Inotek Pharmaceuticals, Akorn Inc., Santen, and
Other Prominent Players.
Novartis AG (Alton) and
Allergan dominate the global market for glaucoma therapy. The overall vendor
landscape of the glaucoma therapy industry is highly fragmented with various
global players. Novartis AG and Allergan accounted for the highest volume
market share in 2019. The two companies are engaged in the manufacture and
marketing, respectively, of their prostaglandin analogs Travatan and Lumigan,
which are favored as the first-line glaucoma treatment option. This has strengthened
both companies ' strategic position in the revenues from the glaucoma
therapeutics industry.
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