The global glaucoma treatment market is competitive in nature with a large number of players operating in it across the globe, states a new market research study by Transparency Market Research. The high number of branded drugs and the increasing number of generics are the key factors that are projected to enhance the level of competition in the next few years.
In addition to this, the introduction of novel therapies and several other new products that are closing in on the losing exclusively is predicted to accelerate the growth of the overall market in the next few years. Furthermore, the late-stage pipeline drugs for glaucoma holds significant promise for its treatment as they are expected to impart novel mechanism of action, which is predicted to further offer opportunities for the growth of the global glaucoma treatment market in the next few years.
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Some of the leading players operating in the glaucoma treatment market across the globe are Novartis AG, Allergan, Merck & Co., Inc., Akorn, Inc., Bausch & Lomb Incorporated, Teva Pharmaceuticals, Pfizer, Inotek Pharmaceuticals, Santen, and Aerie Pharmaceuticals.
According to the market intelligence report, the global market for glaucoma treatment is projected to reach a value of US$3,400 Mn by the end of 2026. This market is likely to register a promising growth rate throughout the forecast period.
Development of Healthcare Segment to Drive North America Market
From a regional perspective, North America is projected to witness a strong growth throughout the forecast period. The high growth of this region can be attributed to the rising geriatric population and the growing demand for glaucoma drugs. In addition to this, the presence of a large number of players and the increasing investments in the pharmaceutical sector are some of the other key factors, which are likely to encourage the growth of the North America market in the next few years. Furthermore, the development of the healthcare sector is further projected to accelerate the growth of the North America in the near future. On the other hand, Asia Pacific and Europe are projected to witness healthy growth in the next few years.
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The global market for glaucoma treatment has been categorized on the basis of product into prostaglandin analogs (PGAs), beta blockers, alpha agonist, cholinergic, combined medications, and carbonic anhydrase inhibitors. Among these, the prostaglandin analogs (PGAs) is anticipated to account for a large share of the global market and is likely to remain in the same position throughout the forecast period. As per the research study, this segment is likely to account for more than 30% of the overall market in the next few years. Furthermore, the alpha agonist segment is expected to account for a significant share of the global glaucoma treatment market in the next few years.
Rising Geriatric Population to Encourage Growth of Global Glaucoma Treatment Market
The introduction of fixed-dose combination products, which combine the drugs from different classes is one of the major factors that is expected to encourage the growth of the global glaucoma treatment market in the next few years. The rising focus on innovative drugs and the introduction of the first-in-class drugs is further projected to enhance the growth of the overall market throughout the forecast period.
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In addition to this, the rising prevalence of glaucoma and the rapidly rising geriatric populations are estimated to offer promising growth opportunities for the market players in the next few years. On the other hand, the efficacy and efficiency of currently available drugs, especially prostaglandin analogs and carbonic anhydrase inhibitors are expected to restrict the growth of the overall market in the coming years. Nonetheless, the growing focus of key players on the development of new product is likely to offer growth opportunities for the market players in the next few years.
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