According to the latest report by IMARC Group, titled “Glaucoma Therapeutics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global glaucoma therapeutics market reached a value of US$ 6.8 Billion in 2020 and expects the market to grow at a CAGR of 6.3% during 2021-2026
Glaucoma is an ocular disorder that damages the optic nerve of the patient. The structural changes in the optic nerves are usually caused by the abnormally high intraocular pressure (IOP) due to the extra build-up of fluid in the front part of the eyes. This condition can often lead to vision loss and permanent blindness in progressive cases. Numerous medications and therapies are prescribed to patients with glaucoma in order to avoid complete vision loss. Eye drops that belong to the class of beta-blockers, alpha agonists, prostaglandins and cholinergic are usually prescribed to reduce the production of fluid in the eyes. These drops can then be followed by conventional or laser surgeries for effective results. In several cases, a combination of both approaches is utilized for the treatment of glaucoma.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Glaucoma Therapeutics Market Trends:
The market is primarily driven by the increasing occurrence of glaucoma on the global level. This can be attributed to the rising number of patients who have diabetes due to their shifting lifestyle patterns and a lack of physical activities. This, along with the increasing geriatric population that is more susceptible to chronic ocular disorders, is providing a thrust to the market growth. Along with this, there has been a growing preference for the adoption of laser glaucoma surgeries among the patients as well as the healthcare professionals on account of the successful outcomes of this procedure. Multiple professionals are also prescribing combination therapies for the treatment of glaucoma that involves the use of polymer-based contact lenses, drug-eluting punctal plugs, implantable extended-release devices, microneedle-injection devices and micro-dosing technologies. Coupled with the increasing number of awareness programs conducted by multiple organizations to spread awareness regarding the availability of effective glaucoma therapeutics, this is creating a positive outlook for the market. Some of the other factors contributing to the market growth include the continual research and development (R&D) activities to introduce innovative therapeutics and the improving healthcare infrastructure across the globe, especially in developing economies.
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Global Glaucoma Therapeutics Market 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Aerie Pharmaceuticals Inc., Allergan Plc, Bausch & Lomb Incorporated (Bausch Health Companies Inc.), Inotek Pharmaceuticals Corp., Merck & Co. Inc., Novartis AG, Pfizer Inc., Santen Pharmaceutical Co. Ltd., SIFI S.p.A and Teva Pharmaceutical Industries Ltd.
The report has segmented the market on region, drug class, indication and end user.
Breakup by Drug Class:
- Prostaglandin Analogs
- Beta Blockers
- Alpha Adrenergic Agonists
- Carbonic Anhydrase Inhibitors
- Combination Drugs
Breakup by Indication:
- Open Angle Glaucoma
- Angle Closure Glaucoma
Breakup by End User:
- Ophthalmic Clinics
- Ambulatory Surgery Centers
Breakup by Region:
- North America:( United States, Canada)
- Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico,Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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