The global glaucoma therapeutics market was worth USD 6.6 billion in 2021 and is poised to amplify with a CAGR of 4.2% over 2022-2030, thereby amassing USD 10 billion by end of the assessment timeline.
A type of eye disease called glaucoma results from harm to the optic nerve and impairs vision. Closed-angle glaucoma and normal-tension glaucoma are less prevalent forms of the disease. Open-angle glaucoma, in which the drainage angle for fluid within the eye remains open, is the most common variety.
While open-angle glaucoma develops, there is no pain; it happens gradually over time. High eye pressure, becoming older, having glaucoma in the family, and taking steroid medicine are some of the risk factors for glaucoma. Medication, laser therapy, or surgery can be used to halt or stop the disease’s progression if it is caught early enough. These therapies also help to lower eye pressure.
Due to the implementation of preventive lockdown in various economies, the COVID-19 pandemic had a marginally negative effect on the sales of glaucoma treatments. In addition, due to a lack of healthcare infrastructure, COVID 19 patients were given priority, and all available resources were mobilised.
Additionally, a lot of ophthalmology clinics were turned into COVID-19 wards, which limited the ability to follow up with glaucoma patients. Additionally, the demand for the market has decreased as a result of fewer patients visiting clinical settings since older persons are afraid of contracting an illness. However, the use of telemedicine platforms during the epidemic enabled patients to access care promptly, which fueled industry expansion generally.
Global Glaucoma Therapeutics Market- Key trends
Surging incidences of glaucoma worldwide is aiding industry expansion
There has been an increasing pervasiveness of glaucoma across the globe. This is credited to factors such as unhealthy lifestyle habits, occurrence of ailments like diabetics, genetics, growing age, rising pollution levels, surging stress levels, and excessive steroid consumption, among others. Glaucoma, if goes undiagnosed for a long period may lead to irreversible blindness. This in turn is escalating the demand for effective treatment methods to quick healing of this ophthalmic disorder.
Global Glaucoma Therapeutics Market- Segmental assessment
By Disease Type
• Open angle glaucoma
• Angle closure glaucoma
The open angle glaucoma segment is poised to amass notable gains over the stipulated timeline owing to the growing prevalence of this disease type among the elderly population base.
By Drug Class
• Prostaglandin analogs
• Beta blockers
• Adrenergic agonists
• Carbonic anhydrase inhibitors
The prostaglandin analogs segment is slated to generate significant returns by 2030 due to its widespread availability across the globe.
By Distribution Channel
• Hospital pharmacy
• Retail pharmacy
• Online Pharmacy
The online pharmacy segment is reckoned to grow considerably over the estimated timeframe due to the rising internet penetration worldwide.
Global Glaucoma Therapeutics Market- Competitive intelligence
The prominent players characterizing the competitive terrain of this marketplace are Bausch & Lomb Incorporated, Merck & Co., Inc., AERIE Pharmaceuticals, Inc., Akorn operating company LLC, Cipla Inc., AbbVie, Teva Pharmaceutical Industries Ltd., Inotek Pharmaceuticals, Pfizer Inc., Novartis AG, and Santen Pharmaceutical Co., Ltd. among others
Notably, in December 2021, Aerie Pharmaceuticals inked a partnership deal with Santen Pharmaceuticals to jointly diversify their offerings in the field of glaucoma therapy.
Objective Of This Study
The study’s objectives are to: • Provide a thorough overview of the global market for glaucoma therapeutics by drug class, disease indication, distribution channel, and region.
- To provide thorough information on market growth influences (drivers, restraints, opportunities, and industry-specific restraints)
- Assessing and predicting micromarkets as well as the broader market
- To estimate market sizes in important regions, including the Middle East, Africa, Latin America, Asia Pacific, and North America.
- To map out the competitive environment and track product launches, technological developments, mergers, and expansions
Frequently Asked Questions
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