According to the latest statistics provided by the International Agency for the Prevention of Blindness (IAPB) by 2020, approximately 3.2 million people will be reported blind due to glaucoma. Researchers are working on developing novel drug development for the treatment of glaucoma. Glaucoma Drugs Market is expected to grow at a CAGR of 4.0% from 2020 to 2027.
Prostaglandins are spearheading the drug class segment for the glaucoma drug market. They are currently used as first-line therapy due to positive patient compliance as only a single dose is required daily, it acts by relaxing muscles of the eyes interior structure in order to promote fluid drainage and reduce eye pressure. Beta-blockers are used in combination with prostaglandins for the treatment of glaucoma, it is helpful in the treatment of glaucoma by reducing the fluid production in the eye. Carbonic anhydrase inhibitors and alpha-adrenergic agonists are used in combination with other drugs that are employed when it is eminent to decrease the rate of aqueous humor production in glaucoma patients. The recent launch of novel drugs employed in glaucoma management such as Rhopressa and Vyzulta which have superior therapeutic efficacy and safety in comparison to traditional drugs will be the fastest-growing drug class.
Browse the full report Glaucoma Drugs Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2027 at https://www.atlanticmarketresearch.com/glaucoma-drugs-market
Hospital pharmacy is dominating the distribution channel segment for the glaucoma drugs market. Precise compounding of glaucoma drugs especially in combination therapy is important to prevent drug-related side effects, hospital pharmacist is vital in dispensing glaucoma drugs according to the prescription. Retail pharmacy will be the fastest-growing distribution channel segment during the forecast period on account of its ability to provide generic versions of glaucoma drugs at attractive prices.
North America is leading the geography segment for the glaucoma drugs market. A significant increase in the number of glaucoma cases primarily drives the glaucoma drug market in the region. According to the recent research findings presented by BrightFocus Foundation glaucoma is the leading cause of blindness among Hispanics and African Americans. Furthermore, the existence of well-developed healthcare infrastructure and the presence of major players such as Allergan, Plc., Alcon, Bausch & Lomb, Novartis AG, etc. buttress the market growth in the region. Europe is considered as the second-largest regional market due to the supportive regulatory environment provided by the European Medical Agency (EMA) for the sale and distribution of glaucoma drugs and affordable reimbursement scenario for glaucoma drugs in the region. Asia Pacific is set to be the fastest-growing regional market for glaucoma drugs chiefly due to the rising prevalence of glaucoma in the elderly population and the presence of flourishing generic drugs market.
Pharmaceutical companies actively engaged in the manufacturing of glaucoma drugs are Allergan, Plc, Alcon, Novartis AG., Merck KGaA, Pfizer, Inc., Aerie Pharmaceuticals, Inc., Bausch + Lomb, Inotek Pharmaceuticals, Teva Pharmaceutical Industries, Ltd., and Santen Pharmaceutical Co., Ltd.
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Market Key Takeaways:
- Significant increase in the number of people suffering from glaucoma worldwide
- Recent launch of novel drugs for management of glaucoma such as Rhopressa and Vyzulta will further accentuate the market growth
- Affordable reimbursement scenario for the glaucoma drugs used in the treatment propels the market growth