Market Overview: The size of the glaucoma treatment market was considerably large in 2020 and is anticipated to sustain a rapidly increasing revenue Compound Annual Growth Rate (CAGR) from 2021 to 2028. Key drivers for the growth in market revenue include heightened awareness of glaucoma by pharmaceutical companies and governments, advancements in new drug development, increased research and development (R&D) activities, and a growing global prevalence of glaucoma.
Glaucoma, often referred to as the silent thief of sight, manifests no symptoms or pain until noticeable vision loss occurs. It is an eye disorder resulting from damage to the optic nerve, responsible for transmitting information from the eyes to the brain. Most cases are associated with ocular hypertension, where intraocular pressure is significantly higher than normal. If left untreated, glaucoma can lead to peripheral vision loss and eventual permanent blindness, ranking as the second leading cause of blindness worldwide. Treatment options include laser procedures, medication, and surgery based on the severity of the condition.
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Major Factors Driving Growth of The Global Glaucoma Treatment Market: Key factors propelling the growth of the glaucoma treatment market include the increasing prevalence of glaucoma, heightened awareness of the disease in developed and developing countries, a rising geriatric population, a demand for cost-effective and minimally invasive surgeries, rapid technological advancements, and an overall surge in global cases of glaucoma.
Factors Restraining Growth of The Global Glaucoma Treatment Market: Challenges in treating glaucoma arise from its lack of initial symptoms, making early detection difficult. Glaucoma surgery also carries the risk of multiple postoperative complications. Additionally, the scarcity of skilled healthcare professionals and a lack of awareness about glaucoma treatment in emerging countries may impede market growth in the coming years.
Opportunities For Players Operating in The Global Glaucoma Treatment Market: Increasing awareness of glaucoma and advancements in technology present new growth opportunities for key market players. Government initiatives to reduce the cost burden of glaucoma treatment, along with increased investments by various entities in untapped regions, are expected to create avenues for growth in the glaucoma treatment market.
Global Glaucoma Treatment Market Led by Drug Class Segment: The glaucoma treatment market is segmented by drug class into prostaglandin analogs, alpha agonists, beta blockers, carbonic anhydrase inhibitors, and combination drugs. The prostaglandin analogs segment is poised to dominate the market, attributed to the growing number of geriatric patients with the disease. Prostaglandin analogs exhibit minimal side effects, primarily related to changes in eye characteristics such as iris color and eyelash growth. Patients with glaucoma typically receive eye drops as part of their treatment.
Global Glaucoma Treatment Market Leading Disease Indication Segment: In terms of disease indication, the market is categorized into open-angle glaucoma, closed-angle glaucoma, secondary glaucoma, congenital glaucoma, and others. The open-angle glaucoma segment holds a significant market share and is expected to maintain its leading position. This type of glaucoma damages the optic nerve gradually without displaying symptoms, contributing to its increasing prevalence worldwide.
North America Accounts for Largest Revenue Share in Global Glaucoma Treatment Market: North America is projected to generate the largest share of revenue in the coming years, driven by a growing elderly population and an increasing number of glaucoma cases in developed countries. Factors contributing to this growth include substantial investments in the healthcare industry, economic vitality, and a well-established medical infrastructure in the United States. Additionally, significant investments in the pharmaceutical industry and the presence of pharmaceutical giants further contribute to the demand for glaucoma treatment.
Asia Pacific Continues to Lead in Terms of Revenue CAGR: The Asia Pacific glaucoma treatment market is expected to register the fastest Compound Annual Growth Rate (CAGR) over the forecast period. This growth is attributed to the rising geriatric population in Japan and China, leading to an increased risk of glaucoma. The healthcare industry’s rapid development, growing population, increased healthcare spending and awareness of glaucoma are expected to fuel market growth in the Asia Pacific region.
Major Companies Profiled in The Report: The report profiles major companies in the glaucoma treatment market, including Inotek Pharmaceuticals, Santen Pharmaceutical Co. Ltd., Merck & Co., Inc., Bausch & Lomb Incorporated, Allergan Plc, Akorn, Inc., Novartis AG, Aerie Pharmaceuticals, Inc., and Pfizer, Inc. The report highlights strategies and objectives, including notable developments such as Aerie Pharmaceuticals’ acquisition of Avizorex Pharma, SL (AVX) and AbbVie Inc.’s strategic acquisition of Allergan Plc.
What Our Report Provides and Why Our Offering Is Better: The report offers historical data and forecasts for revenue growth at the global, regional, and country levels, providing analysis of industry trends and consumption patterns for each region, major country, and segment from 2018 to 2028. It includes insights into industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share by each regional and country market. The report also provides industry analysis, a competitive landscape, company financials, and impact analysis. Detailed views of the global market, changing dynamics and trends, scenarios, market and regional segmentation, landscape analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues are included.
Detailed Segmentation in Our Report: For this report, the global glaucoma treatment market is segmented based on disease indication, drug class, distribution channel, administration, and region:
Disease Indication Outlook (Revenue, USD Billion; 2018-2028)
- Open Angle Glaucoma
- Closed Angle Glaucoma
- Secondary Glaucoma
- Congenital Glaucoma
Drug Class Outlook (Revenue, USD Billion; 2018-2028)
- Prostaglandin Analogs
- Alpha Agonist
- Beta Blockers
- Carbonic Anhydrase Inhibitors
- Combination Drugs
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
- Hospital Pharmacy
- Specialty Centers
- Retail Pharmacy
- Online Pharmacy
Administration Outlook (Revenue, USD Billion; 2018-2028)
Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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