Glaucoma Therapeutics Market - Snapshot
Glaucoma is a disease that damages the optic nerve and its progression could result in vision loss and blindness. Treatment of glaucoma starts with topical eye drops belonging to the class of prostaglandins, beta blockers, alpha agonist, combination medication, carbonic anhydrase inhibitor, and cholinergic. Administration of these eye drops reduces the production of the fluid inside eyes, thereby decreasing intraocular pressure. Topical eye drops is an alternative for surgery or to delay surgical procedure.
The global glaucoma therapeutics market was valued at US$ 5,932.6 Mn in 2017 is anticipated to reach US$ 7,659.8 Mn by 2026, expanding at a CAGR of 2.9% from 2018 to 2026. Increase in prevalence and incidence of diabetic disorders, rise in geriatric population, improved health care as well as health care infrastructure, introduction of combination therapies, and surge in the number of awareness programs are likely to drive the global glaucoma therapeutics market during the forecast period. Lack of awareness about eye disorders, non-compliance with treatment, side effects of glaucoma drugs, and growth of the generic drugs market are anticipated to restrain the global market in the near future. However, emerging economies such as India, China, Brazil, Russia, Mexico, and South Africa offer immense opportunities in the glaucoma therapeutics market. This is attributed to large number of underserved patients, rise in proportion of urban population, and insurance policies. Moreover, governments of the nations mentioned above have taken initiatives to educate the people about glaucoma and its management.
The global glaucoma therapeutics market has been segmented based on drug class, end-user, and region. In terms of drug class, the global market has been classified into prostaglandins, beta blockers, alpha agonist, combination medication, and carbonic anhydrase inhibitors and cholinergic. Prostaglandins analogs are the molecules that bind to the prostaglandin receptor increasing the outflow of the fluid from the eyes and reducing intraocular pressure. Beta blockers are also commonly used topical drugs, which act by reducing the production of fluid inside the eyes. Combination medications are eye drops used in patients who require more than one medication. Cholinergic agents aid in the treatment of glaucoma by contracting the ciliary muscles, tightening the trabecular meshwork, and increasing the outflow of fluid. Carbonic anhydrase inhibitor and alpha agonist are used to increase the outflow of fluid from the eyes, thereby reducing intraocular pressure. Prostaglandins, beta blockers, and combination medication are the most widely used topical agents. The combination medication segment is projected to account for the largest share of the market during the forecast period, followed by beta blockers and prostaglandins. However, rise in prevalence of glaucoma globally has fueled the growth of the combination medication segment. The segment is expected to expand at a high CAGR during the forecast period. Rise in awareness about early detection of glaucoma and provision of affordable treatment options are expected to boost the growth of the combination medication segment during the forecast period.
In terms of end-user, the hospitals segment captured major share of the global glaucoma therapeutics market in 2017. The segment is likely to sustain its leadership position during the forecast period. A large population prefers visiting hospitals first rather than specialty clinics for treatment, as the cost of therapy at hospitals is lower. Ambulatory surgical center is the less preferred option for the treatment of glaucoma.
Geographically, the global glaucoma therapeutics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe accounted for a combined market share of 50.2% in 2017. North America is projected to continue to dominate the market during the forecast period due to increase in the geriatric population, rise in awareness among the population about glaucoma, availability of reimbursements, and well-established health care infrastructure. The market in Asia Pacific is expected to expand at a high CAGR during the forecast period. However, the market in Latin America and Middle East & Africa is anticipated to witness sluggish growth during the forecast period. Increase in focus by federal governments on enhancing health care facilities and rise in awareness among the population are the factors contributing to the growth of the market in these regions.
Major players operating in the global glaucoma therapeutics market are Allergan, Inc., Merck & Co., Pfizer, Inc., Novartis AG., Santen Pharmaceuticals, Valeant Pharmaceuticals, and Aerie Pharmaceuticals. Players in the generics market are Fera Pharmaceuticals, Teva Pharmaceuticals, and Aristo Pharmaceuticals, among others. The market is characterized by large number of acquisitions, which has led to market consolidation and increasing dominance of the top players.
Glaucoma Therapeutics Market: Scope and Methodology
This report analyzes the current and future prospects of the global glaucoma therapeutics market. The report comprises a comprehensive executive summary, including a market snapshot that provides overall information of various segments. The research is a combination of primary and secondary research. Primary research formed the bulk of the research efforts along with information collected from telephonic interviews and interactions via e-mails. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various international and national databases. The report provides market size in terms of US$ Mn for each segment for the period from 2016 to 2026, considering the macro and micro environmental factors. Growth rates for each segment within the global glaucoma therapeutics market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, and regulatory requirements.
A detailed qualitative analysis of factors responsible for driving and restraining the market and future opportunities has been provided in the overview section. The report also provides insights into the key trends of the glaucoma therapeutics market such as growth in geriatric and diabetic populations, increase in health care spending, and innovative drug combinations. Key market indicators influencing the global glaucoma therapeutics market, including cost constraints and regulatory landscape, have been taken into consideration. The report also includes market attractiveness analysis of the major segments that provides a thorough analysis of the overall competitive scenario in the global glaucoma therapeutics market.
Market revenue in terms of US$ Mn for the period between 2016 and 2026 along with the compound annual growth rate (CAGR %) from 2018 to 2026 are provided for all the segments, considering 2017 as the base year. The year-on-year growth of the global glaucoma therapeutics market for each segment is also reflected. Additionally, market-related factors such as favorable reimbursement scenario, gene replacement therapy, side effects associated with glaucoma drugs, and historical year-on-year growth have been taken into consideration while estimating the market size.
Glaucoma Therapeutics Market: Segmentation
Based on drug class, the global glaucoma therapeutics market has been segmented into prostaglandins, beta blockers, alpha agonists, carbonic anhydrase inhibitors, combination medications, and cholinergics. In terms of end-user, the market has been classified into hospitals, ophthalmic clinics, and ambulatory surgical centers. The hospitals segment is expected to dominate the market during the forecast period.
In terms of region, the global glaucoma therapeutics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Additionally, the regions have been divided into major countries/sub-regions. These include the U.S., Canada, the U.K., Germany, France, Italy, Spain, China, Australia, Japan, India, Brazil, GCC Countries, South Africa, and Mexico.
Glaucoma Therapeutics Market: Competitive Landscape
The report also profiles major players in the global glaucoma therapeutics market based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Key companies profiled in the report include Allergan plc, Merck & Co., Inc., Novartis AG, Pfizer, Inc., Santen Pharmaceuticals Co. Ltd., Valeant Pharmaceuticals International, Inc., and Aerie Pharmaceuticals, Inc.
The global glaucoma therapeutics Market has been segmented as follows:
Global Glaucoma Therapeutics Market, by Drug Class
- Beta Blockers
- Alpha Agonists
- Carbonic Anhydrase Inhibitors
- Combination Medications
Global Glaucoma therapeutics Market, by End-user
- Ophthalmic Clinics
- Ambulatory Surgical Centers
Global Glaucoma therapeutics Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa