Dublin, Nov. 01, 2023 (GLOBE NEWSWIRE) -- The "Global Acetazolamide Market 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Acetazolamide Market is estimated to be USD 201.12 million in 2023 and is expected to reach USD 271.69 million by 2028, growing at a CAGR of 6.20%.
A key driver of this market expansion is the escalating incidence of glaucoma, a chronic eye condition that threatens vision by damaging the optic nerve. With an aging population and shifting lifestyles, the number of individuals at risk of developing glaucoma is on the rise. Acetazolamide is in high demand for its effectiveness in reducing intraocular pressure, making it a crucial treatment option for glaucoma.
The prevalence of glaucoma, especially among the elderly, is increasing due to global demographic shifts and the presence of other eye-related issues. Acetazolamide stands out as a pivotal pharmacological choice for the geriatric population due to its role in glaucoma treatment and intraocular pressure reduction. As the elderly population continues to grow, the demand for Acetazolamide is expected to rise, further expanding the market for this essential medication.
Innovations in medication formulation and delivery techniques present an opportunity for the Acetazolamide market to flourish. Advancements such as combination therapy and extended-release drugs broaden the potential market, catering to diverse patient needs and preferences.
However, concerns related to production-related issues can pose constraints on the Acetazolamide market. Challenges in quality control during the production process, supply chain disruptions, or regulatory issues may lead to delays in product availability, hindering market growth. Overcoming these obstacles requires a commitment to ensuring reliable and consistent output.
Moreover, the technical and application complexities in evaluating Chronic Cerebral Ischemia (CCI) pose another challenge for Acetazolamide. While the drug can be employed in CCI diagnostic testing, its optimal use requires advanced imaging methods and specialized medical expertise. Addressing these challenges is crucial to fully leverage Acetazolamide's potential in managing CCI and expanding its market utility.
Market Segmentations
The Global Acetazolamide Market is segmented based on Formulation, Distribution Channel, Application, and Geography.
- By Formulation: Capsules, Injections, and Tablets. Tablets dominate the market share due to their ease of administration, convenience, and high patient compliance.
- By Distribution Channel: Hospitals, Online Drug Store, and Retail Drug Store. Hospitals have a significant market share due to being primary healthcare facilities and their bulk procurement of prescription drugs.
- By Application: Glaucoma, Epilepsy, Drug Indicated Edema, Altitude Sickness, Fluid Retention, Heart Failures, and Seizures. Glaucoma holds the largest market share due to its widespread occurrence, necessitating long-term treatment with drugs like Acetazolamide.
- By Geography: The Americas, Europe, Middle-East & Africa, and Asia-Pacific. The Americas lead the market due to a higher prevalence of glaucoma, superior healthcare infrastructure, and easier medication access compared to other regions.
Recent Developments:
- Sun Pharma offers to acquire a 100% stake in Taro in an all-cash deal - May 2023
- Zydus gets USFDA final approval for Acetazolamide tablets - April 2023
Company Profiles:
The report provides a comprehensive analysis of market competitors, including financial performance, recent developments, and competitive scenarios. Some of the prominent companies covered in this report are Accord Healthcare, Ltd., Heritage Pharmaceuticals, Inc, Nostrum Laboratories, Inc., Taro Pharmaceutical Industries, Ltd, and others.
Countries Studied:
- America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
- Europe (Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxemburg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
- Middle-East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
- Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)
Competitive Quadrant
The report employs a Competitive Quadrant to analyze and assess the position of companies based on their Industry Position score and Market Performance score, considering factors like financial performance, growth strategies, innovation, market share, and more.
Ansoff Analysis
The report features an Ansoff Matrix analysis, a strategic tool that provides insights into the best growth strategies for companies, including Market Development, Market Penetration, Product Development, and Diversification.
The Global Acetazolamide Market is poised for substantial growth, driven by the increasing prevalence of glaucoma and the aging global population. While challenges in production and complex applications exist, innovations and advancements offer opportunities for expansion and improved patient care.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 171 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $201.12 Million |
| Forecasted Market Value (USD) by 2028 | $271.69 Million |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
Key Topics Covered
1 Report Description
2 Research Methodology
3 Executive Summary
4 Market Dynamics
5 Market Analysis
6 Global Acetazolamide Market, By Formulation
7 Global Acetazolamide Market, By Distribution Channel
8 Global Acetazolamide Market, By Application
9 America's Acetazolamide Market
10 Europe's Acetazolamide Market
11 Middle East and Africa's Acetazolamide Market
12 APAC's Acetazolamide Market
13 Competitive Landscape
14 Company Profiles
15 Appendix
Companies Mentioned
- Accord Healthcare, Ltd.
- Avanscure Lifesciences Pvt. Ltd.
- Avet Pharmaceuticals, Inc.
- CTX Lifesciences Pvt. Ltd.
- Emcure Pharmaceuticals, Ltd.
- Heritage Pharmaceuticals, Inc.
- Lannett, Co. Inc.
- Manus Aktteva Biopharma LLP
- Mylan N.V.
- Nakoda Chemicals, Ltd.
- Nostrum Laboratories, Inc.
- Novast Laboratories Ltd.
- Ortin Laboratories Ltd.
- Strides Pharma Science, Ltd.
- Sun Pharmaceutical Industries, Ltd.
- Taro Pharmaceutical Industries, Ltd.
- Teva Pharmaceutical Industries Ltd.
- West-Ward Pharmaceuticals, Corp.
- X-Gen Pharmaceuticals, Inc.
- Zydus Pharmaceuticals (USA), Inc.
For more information about this report visit https://www.researchandmarkets.com/r/aan7c4
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