According to the latest market report published by Credence Research, Inc. “Glaucoma Therapeutics Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025” the global Glaucoma Therapeutics market was valued at US$ 4.42 Bn in 2016, and is expected to reach US$ 5.67 Bn by 2025, expanding at a CAGR of 2.8% from 2017 to 2025.
Browse the full report Glaucoma Therapeutics Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025 report at http://www.credenceresearch.com/report/glaucoma-therapeutics-market
Glaucoma is chronic, degenerative disorder that damages the eye’s optic nerve that may result in vision loss and blindness. Glaucoma therapeutics is rapidly growing due to factors such as increase in prevalence of eye disorders around the world, significant unmet needs and rise in the incidence of age-related eye diseases contributing to the market growth of glaucoma therapeutics globally. For the purpose of study, global glaucoma therapeutics market is segmented on the basis of drug class such as prostaglandins analogs, beta blockers, alpha-adrenergic agonists, carbonic anhydrase inhibitors and fixed-dose combinations. It is observed that, in the base year 2016, prostaglandins analogs t was the highest contributing market segment. Prostaglandins analogs generally are given as first line therapy and higher adherence to the treatment are driving the market growth of prostaglandins analogs worldwide. Glaucoma therapeutics market is currently dominated by North America -. Factors such as higher cost of therapy and glaucoma being the second leading cause of blindness in the US are the factors driving the market growth in North America. Currently, Asia Pacific is not major revenue generating segment it is anticipated that Asia Pacific will show highest CAGR during forecast period. Factors such as increasing healthcare awareness, continuous economic development and developing healthcare infrastructure would drive the market growth during forecast period.
Market Competition Assessment:
The Glaucoma Therapeutics market is observed to be highly competitive and comprises large number of players. However, the market is currently dominated by few players such as Aerie Pharmaceuticals, Akorn, Inc., Allergan plc., Bausch & Lomb Incorporated, Inotek Pharmaceuticals, Merck & Co., Inc., Novartis AG, Pfizer Inc., Santen Pharmaceuticals Co. Ltd., Teva Pharmaceuticals and other.
Key Market Movements:
- Factors such as higher prevalence glaucoma disorder, increasing public awareness for treatment, improved diagnostic techniques, favorable reimbursement policies in some countries and high degree of R&D activity in development of glaucoma therapeutics are driving the market growth.
- Due to the high unmet needs, vendors in the market are focusing on innovation and technological advances in treatment, this would further influence the market growth of glaucoma therapeutics globally.
- However, patent expiry of major approved drugs leads to generic erosion, poor patient compliance to medication and adverse effects associated with the use of medication which would negatively impacting market growth of glaucoma therapeutics.