Selbyville, Delaware, March 07, 2022 (GLOBE NEWSWIRE) --
Glaucoma treatment market value is expected to reach over USD 7 billion by 2028, according to a new research report by Global Market Insights Inc. Rising prevalence rate of glaucoma disease will augment the industry growth during the projected timeline.
Strong presence of key business players in the market that are involved in discovery, development of new products as well as product launches. The clinical trial comprises preservative-free and water-free glaucoma drug based on Novaliq GmbH’s EyeSol technology. Such trials will enhance drug capabilities and benefit the company in developing advanced drug. Therefore, such clinical trials will proliferate the business expansion in near future.
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Increasing prevalence of glaucoma disease and number of glaucoma patients will positively influence the business landscape. Over the past few years, there has been substantial rise in glaucoma patient pool.
Based on disease type, the glaucoma treatment market is divided into open angle glaucoma, angle closure glaucoma, and others. Other’s segment valued USD 583 million in 2021. The others segment includes normal tension glaucoma, pigmentary glaucoma, congenital glaucoma, secondary glaucoma, etc. rising incidence of congenital glaucoma worldwide will drive industry outlook. Furthermore, the developments and innovation in glaucoma medications and growing demand for advanced therapy in affordable cost will bolster the market demand.
Some major findings of the glaucoma treatment market report include:
- Continuous ongoing clinical trials and several product launches will further stimulate the industry scenario.
- Rising patient pool of glaucoma disorders worldwide will proliferate market statistics
- High usage of combination therapy in glaucoma treatment is expected to foster overall industry landscape.
- Growing geriatric population especially in Asia Pacific region will contribute to the market expansion.
- The impact of COVID-19 on market was slightly negative due to postponed follow-ups for treatment.
Browse key industry insights spread across 160 pages with 92 market data tables & 13 figures & charts from the report, “Glaucoma Treatment Market Analysis By Disease Type (Open Angle Glaucoma, Angle Closure Glaucoma), Drug Class (Prostaglandin Analogs, Beta Blockers, Adrenergic Agonists, Carbonic Anhydrase Inhibitors), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/glaucoma-treatment-market
Glaucoma Treatment Market from adrenergic segment accounted for over 15% revenue share in 2021. The growth of the segment is ascribable to high usage of adrenergic agonists in moderate glaucoma treatment. Also, with the increasing therapeutic potentials, enhanced recovery rate and ability to control intraocular pressure, adrenergic agonist is creating lucrative growth opportunities to the segment and thereby enhancing overall business outlook.
Online pharmacy segment is predicted to exhibit 4.3% CAGR over the estimated timeframe. The segmental growth is primarily attributable to increasing adoption of online services in developing and developed countries. In addition, patient inclination towards online pharmacies due to easy accessibility, convenience and cost affordability will stimulate the overall market expansion.
Asia Pacific glaucoma treatment market held more than 31% business share in 2021. Increasing prevalence rates of glaucoma disorder in the region owing to upsurge in geriatric population base in several Asia Pacific countries especially in India and China. Developing healthcare infrastructure as well as integration of advanced technologies in healthcare facilities and rising healthcare spendings will further contribute to the regional market progression. Strong presence of well-established market players in the region with strong product portfolio will impel glaucoma treatment industry expansion.
Some of the prominent business players operating in the glaucoma treatment industry include, Merck & Co., Inc., Novartis AG, AERIE Pharmaceuticals, Inc., Akorn operating company LLC, Cipla Inc., AbbVie, Bausch & Lomb Incorporated, Inotek Pharmaceuticals, Pfizer Inc., Teva Pharmaceutical Industries Ltd. and Santen Pharmaceutical Co., Ltd. among others. These industry players are adopting numerous growth strategies to sustain competition in the industry.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
