Global Glaucoma Therapeutics Market: Snapshot
Healthcare providers, across the globe are making notable efforts to offer improved eye care products and services in order to preserve the vision of patients. This has resulted in a significant growth of the glaucoma therapeutics market worldwide. The key players in the global market are focusing on strengthening their drug pipeline of combination drugs is predicted to encourage the growth of the global glaucoma therapeutics market throughout the forecast period. Moreover, the increasing spending capacity of patients and the availability of advanced healthcare infrastructure are projected to supplement the growth of the market in the near future.
According to the research study, in 2015, the global market for glaucoma therapeutics was worth US$5.7 bn. The market is anticipated to reach a value of US$7.6 bn by the end of 2024, registering a healthy 3.40% CAGR between 2016 and 2024.
Rising Demand for Combination Glaucoma Drugs to Encourage Growth
The increasing number of cases of glaucoma and the rising demand for combination glaucoma drugs are some of the vital factors that are likely to encourage the growth of the global market in the next few years. The easy availability of medical insurance coverage for treatment and diagnosis is estimated to create lucrative opportunities for the prominent players operating in the global glaucoma therapeutics market in the coming years. Furthermore, the increasing geriatric population and the rising healthcare expenditure are predicted to fuel the growth of the market. On the contrary, stringent government regulations concerning marketing and approvals and the side effects of glaucoma medications are predicted to restrict the growth of the market in the near future.
On the basis of end use, the hospital segment is estimated to lead the global glaucoma therapeutics market and account for a key share of the overall market in the near future. The rising preference of patients for visiting hospitals as the cost of therapies is comparatively lower is one of the major factors expected to bolster hospital segment in the coming years. The ambulatory surgical center segment is projected to hold a small share of the global glaucoma therapeutics market throughout the forecast period.
Advent of Favorable Reimbursement Policies to Bolster North America Market
From a geographical perspective, in 2015, Europe and North America collectively accounted for a share of 75% of the global glaucoma therapeutics market. According to the research report, the North America is expected to witness a strong growth in the next few years, owing to the rising geriatric population and the availability of several treatment options. In addition, the rising awareness among patients regarding glaucoma and the introduction of favorable reimbursement policies are some of the major factors anticipated to fuel the growth of the North America glaucoma therapeutics market in the next few years.
Furthermore, Europe is anticipated to exhibit a healthy growth rate throughout the forecast period. The substantial growth of this region can be attributed to the growing demand for topical eye drops and the expected launch of the combined medication products. With booming medical tourism, Asia Pacific is projected to grow significantly in the coming few years. On the other hand, the Middle East and Africa and Latin America are estimated to witness sluggish growth in the next few years.
Some of the prominent players operating in the glaucoma therapeutics market across the globe are Allergan Inc., Aristo Pharmaceuticals, Merck & Co., Fera Pharmaceuticals, Teva Pharmaceuticals, Pfizer Inc., Santen Pharmaceuticals, Valeant Pharmaceuticals, Aerie Pharmaceuticals, and Novartis AG. The presence of a strong drugs pipeline for glaucoma therapeutics is anticipated to encourage the growth of the global market in the next few years.
Glaucoma Therapeutics Market: Overview
Glaucoma is an ocular disease which affects the optic nerve of the iris and progression of the same results into vision loss and blindness. The treatment for glaucoma starts with topical eye drops belonging to the class of prostaglandins, beta blockers, alpha agonist, combined medication, carbonic anhydrase inhibitor and cholinergic. Administration of these eye drops reduces the production of the fluid inside eyes thereby reducing the intraocular pressure. Using topical eye drops is an alternative for surgery or delays the surgical procedure. This report analyzes the current and future prospects of the glaucoma therapeutics market based on type of drug class, end user and geography.
Glaucoma Therapeutics Market: Scope and Methodology
The research is a combination of primary and secondary research, conducted for understanding and arriving at trends, used to forecast the expected revenue of the major glaucoma therapeutics market in the near future. Primary research formed the bulk of our research efforts with information collected from in-depth interviews and discussions with a number of key industry experts and opinion leaders. Secondary research involved study of company websites, annual reports, press releases, investor presentations, analyst presentation and various international and national databases. The report provides estimated market size in terms of US$ Mn for each by drug class, end user, and geography for the period 2014 to 2024, considering the macro and micro environmental factors. The revenue generated from each product was calculated by considering number of products used in the procedures and their market demand as per their use, number of product launched, average cost of products of each sub segment, trends in industry, end user trend, and adoption rate across all the geographies. The revenue generated for drug class was calculated on the basis of prevalence of diseases, and number of people affected by the disease
The market report comprises an elaborated executive summary, which includes market snapshot that provides information about various segments of the market. It also provides information and data analysis of the market with respect to market segments based on drug class, end-user, and geography. The market overview section of the report analyzes market dynamics such as drivers, restraints and opportunities that influences the glaucoma therapeutics market in the current and future scenario.
Based on geography, the market has been analyzed for major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The study also covers detailed country analysis contributing majorly in the glaucoma therapeutics market.
Glaucoma Therapeutics Market: Competitive Landscape
Market share analysis among the market players is analyzed to signify the contribution of these players in the market in terms of percentage share. All these factors will help the market players to decide about the business strategies and plans to strengthen their positions in the global market. The report also profiles the major players in the market and provides various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Major companies profiled in the glaucoma therapeutics market are Allergan Inc., Merck & Co., Pfizer Inc., Novartis AG., Santen Pharmaceuticals, Valeant Pharmaceuticals and Aerie Pharmaceuticals.
The glaucoma therapeutics market has been segmented as follows:
Glaucoma Therapeutics Market, by Drug Class
- Alpha Agonist
- Beta Blockers
- Prostaglandin Analogs
- Carbonic Anhydrase Inhibitor
- Combined Medication
Glaucoma Therapeutics Market, by End Users
- Ophthalmic clinic
- Ambulatory Surgical Centers
Glaucoma Therapeutics Market, by Geography
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific
- New Zealand
- Rest of Asia Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- Rest of MEA