(MENAFN - Comserve) Shibuya-ku, Tokyo, Japan, Japan, May 05, 2021, 04:41 /Comserve / -- The report analyze market size, share, growth, trends, segmentation, top key players, strategies, demand, statistics, competitive landscape and forecast.
The major factors for the growth of the glaucoma treatment market include the increasing prevalence of glaucoma, rising initiatives to increase awareness about glaucoma, and technological advancements in the field of ophthalmology.
Glaucoma is the second leading cause of blindness, globally. This generally happens due to raised intraocular tension. The main therapeutic goal is to lower the intraocular tension. This is done either by reducing the secretion of aqueous humor or increasing its drainage. Glaucoma has also been divided into an open angle (wide angle), chronic glaucoma and angle-closure (narrow-angle), and acute congestive glaucoma. Although the drugs of glaucoma reduce the symptoms, there is no complete cure for this condition. The drugs used for the treatment of glaucoma are segmented into beta-blockers, alpha-adrenergic agonists, carbonic anhydrase inhibitors, prostaglandin analogs, and combination medications.
According to WHO estimates, more than 60 million patients are suffering from glaucoma worldwide, as per 2019 statistics. According to the Glaucoma Research Foundation, in the United States, more than 120,000 patients are blind from glaucoma. Thus, owing to the rising cases of glaucoma the market is expected to witness high growth over the forecast period.
Key Market Trends
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Prostaglandin Analogs is the Segment by Drug Class that is Expected to Witness Fastest Growth Over the Forecast Period
Prostaglandin analogs work by increasing the outflow of intraocular fluid from the eye. They have few systemic side effects but are associated with changes to the eye itself, including change in iris color and growth of eyelashes. Depending on the individual, one brand of this type of medication may be more effective and produce fewer side effects.
Prostaglandin analogs are taken as eye drops. They are effective at reducing intraocular pressure in people who have open-angle glaucoma. Latanoprost and some formulations of bimatoprost and travoprost are now available in generic form. Tafluprost is a preservative-free prostaglandin analog.
The demand for these drugs is expected to rise as the incidence of glaucoma has increased over the past few years due to the aging population. Moreover, the incidence of the disease is expected to increase in the future as the population aged 60 years and over are expected to increase from 12.7% in 2017 to 21.3% by 2050, as per a 2017 report by the United Nations. Increasing geriatric population is expected to increase the prevalence of glaucoma, as the disaese is more prevalent in the elderly. Hence the demand for Prostaglandin Analogs is also expected to increase, which will boost the market growth.
North America is Expected to Hold Largest Market Share over the Forecast Period
The United States is expected to be the largest glaucoma treatment market owing to the rising cases of glaucoma and the presence of better healthcare infrastructure. As per the data published by the BrightFocus Foundation more than 3 million Americans are living with glaucoma and open-angle glaucoma is the most common form of glaucoma.
Furthermore, glaucoma costs to the United States economy around USD 2.86 billion every year in direct costs and productivity losses. Also, there are various organizations in the United States creating awareness regarding glaucoma which is expected to propel the overall growth of the market.
The market studied is a consolidated market owing to the presence of few major market players. Some of the market players are AERIE PHARMACEUTICALS, INC., Akorn, Incorporated, Allergan Plc, Bausch & Lomb Incorporated, Inotek Pharmaceuticals, Merck & Co., Inc., Novartis AG, Pfizer Inc, and Santen Pharmaceutical Co., Ltd.
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1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Glaucoma
4.2.2 Rising Initiatives to Increase Awareness about the Glaucoma
4.2.3 Technological Advancements in the Field of Ophthalmology
4.3 Market Restraints
4.3.1 Side Effects associated with the Products
4.3.2 Stringent Approval Process
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Indication
5.1.1 Open Angle Glaucoma
5.1.2 Closed Angle Glaucoma
5.1.3 Secondary Glaucoma
5.1.4 Congenital Glaucoma
5.2 By Drug Class
5.2.1 Prostaglandin Analogs
5.2.2 Beta Blockers
5.2.3 Alpha Agonist
5.2.4 Carbonic Anhydrase Inhibitors
5.3.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
5.3.3 Asia Pacific
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.3.4 Middle East and Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle East and Africa
5.3.5 South America
22.214.171.124 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Aerie Pharmaceuticals Inc.
6.1.2 Akorn, Incorporated
6.1.3 Abbvie Inc. (Allergan Plc)
6.1.4 Bausch Health (Bausch & Lomb Incorporated)
6.1.5 Inotek Pharmaceuticals
6.1.6 Merck & Co., Inc.
6.1.7 Novartis AG
6.1.8 Pfizer Inc
6.1.9 Santen Pharmaceutical Co., Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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