Pune, Sept. 09, 2020 (GLOBE NEWSWIRE) -- The global glaucoma therapeutics market is set to gain impetus from the increasing research activities on prostaglandin analogs. It is further creating a surging shift of patients towards this drug class. Fortune Business Insights™ presented this information in a new report, titled, “Glaucoma Therapeutics Market Size, Share & COVID-19 Impact Analysis, By Drug Class (Beta Blockers, Prostaglandins Analogs, Alpha Adrenergic Agonists, Carbonic Anhydrase Inhibitors, Combination Drugs, and Others), By Disease Indication (Open Angle Glaucoma, Angle Closure Glaucoma, and Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and Regional Forecast, 2020-2027.” The report further states that the market size was USD 6.59 billion in 2019 and is projected to reach USD 11.05 billion by 2027, exhibiting a CAGR of 6.1% during the forecast period.
This Report Answers the Following Questions:
- What are the market drivers, hindrances, and opportunities?
- Which segment is set to lead the market in the forthcoming years?
- Which region is expected to remain in the dominant position in the near future?
- How will the key organizations generate more sales amid the COVID-19 pandemic?
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Drivers & Restraints-
Increasing Screen Time of Gadgets among People to Boost Growth
The rising prevalence of glaucoma amongst the geriatric population across the globe is set to be one of the major factors for the glaucoma therapeutics market growth. It is mainly occurring because of the surging screen time of gadgets, such as smartphones and laptops. The International Agency of the Prevention of Blindness declared that approximately 80 million people worldwide are expected to suffer from glaucoma by the end of 2020. However, numerous cases of regulatory recall of these therapeutics products may hinder growth.
COVID-19 to Affect Growth Positively Fueled by Postponement of Elective Surgeries
Several government healthcare facilities have categorized glaucoma as elective. Hence, all the surgeries associated with this condition were postponed globally owing to the outbreak of the COVID-19 pandemic. This has further resulted in the huge demand for glaucoma therapeutics amongst patients to slow down the progression of glaucoma. Our reports are specially curated to provide in-depth analysis of the effects of coronavirus on every possible market. They will be able to help you regain business confidence during such a grave period of time.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/glaucoma-therapeutics-market-100312
Segment-
Prostaglandins Analogs Segment to Grow Rapidly Backed by Fewer Side Effects
Based on product type, the market is fragmented into combination drugs, carbonic anhydrase inhibitors, beta blockers, alpha adrenergic agonists, prostaglandins analogs, and others. Out of these, the prostaglandins analogs segment earned 40.3% in terms of glaucoma therapeutics market share in 2019. This growth is attributable to their possession of fewer side effects, unlike the other glaucoma therapeutics. They are also efficient in lowering intraocular pressure (IOP).
Regional Analysis-
North America to Dominate Owing to Availability of Efficient Treatment Framework
In 2019, North America held USD 2518.31 million in terms of revenue. The region is set to dominate the market stoked by the presence of an efficient treatment framework and a well-equipped hospital infrastructure. Europe is expected to grow considerably because of the presence of favorable reimbursement policies. Asia Pacific, on the other hand, would showcase the highest growth fueled by the increasing aging population, especially in Japan and China, who are in need of this therapeutics.
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Competitive Landscape-
Key Companies Focus on Research & Acquisition Strategies to Compete in Market
Several companies present in the global market for glaucoma therapeutics are striving to compete with their rivals by either engaging in mergers & acquisitions, or by conducting novel clinical research studies. Below are two of the important industry developments:
- May 2020: AbbVie Inc. acquired Allergan plc to strengthen its leading position in the glaucoma market.
- October 2019: EyeTechCare started recruiting volunteers to participate in its new research activity. The organization is set to gather safety data on Ultrasound Cycle Plasty treatment (UCP) in primary glaucoma patients based in China.
Fortune Business Insights™ lists out the names of all the prominent glaucoma therapeutics providers operating in the global market. They are as follows:
- Merck & Co., Inc. (U.S.)
- Novartis AG (Switzerland)
- Allergan plc (part of AbbVie Inc.) (Ireland)
- Bausch and Lomb Incorporated (U.S.)
- Teva Pharmaceuticals Industry (Israel)
- Pfizer, Inc. (U.S.)
- Aerie Pharmaceuticals (U.S.)
- Inotek Pharmaceuticals (U.S.)
- Other Prominent Players
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Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Glaucoma by Major Countries
- Recent Industry Developments - Partnerships, Mergers & Acquisitions
- Pipeline Analysis
- Reimbursement Scenario by Key Countries
- Regulatory Scenario for Key Countries
- Impact of COVID-19 Pandemic on Glaucoma Therapeutics Market
- Global Glaucoma Therapeutics Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Disease Indication
- Open Angle Glaucoma
- Angle Closure Glaucoma
- Others
- Market Analysis, Insights and Forecast – By Drug Class
- Bets Blockers
- Prostaglandin Amalogues
- Latanoprost
- Bimatoprost
- Travoprost
- Others
- Alpha Adrenergic Agonists
- Carbonic Anhydrase Inhibitors
- Combination Drugs
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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