(PharmaNewsWire.Com, March 23, 2020 ) Market Overview The Global Glaucoma Therapeutic market was valued at USD XX million in 2018 and is estimated to grow at a CAGR of XX% in the forecast period (2019-2026) to reach a value of USD XX million by 2026. Glaucoma is an eye related disease caused due to the damage of optic nerve with no cure yet. It is estimated that around 60 million people are suffering from glaucoma with more than 10% of the population who receive treatment for glaucoma experiencing loss of vision.
Market Forecast Improving Diagnostic techniques and development of new drug delivery systems, the introduction of new drug combinations and rise in glaucoma patients are the major factors driving the growth of glaucoma therapeutic market across the globe Increased government support and initiatives by healthcare companies in creating awareness about glaucoma treatment also support the growth of the market. There are no symptoms to glaucoma and hence lack of awareness is a major restraint for the market. According to the Glaucoma Research Foundation, there are around 3 million patients in the United States suffering from glaucoma with only 50% of the population aware of it. Lack of reimbursement policy is also restraining the growth of the market.
Industry Segmentation Glaucoma Therapeutics market is segmented by clinical trial analysis, drug class, indication and by geography. Glaucoma patients account for more than 10 million visits to physicians every year and this number is growing due to increased awareness.
By Indication type, open-angle glaucoma has the largest market with more than 86% of the patients reported being suffering from open angle glaucoma while around 9-10 population with angle-closure glaucoma.
Geographical Analysis By geography, North America accounts for the largest market with the United States leading the market. Asia-Pacific market is estimated to grow at the fastest CAGR in the forecast period.
Glaucoma Therapeutic Competition Size Novartis Allergen Pfizer Merck The global glaucoma therapeutics market is a highly consolidated market with top 4 companies accounting for the largest market share. Alcon, a subsidiary of Novartis has recently launched CyPass, a micro invasive glaucoma surgical device in the European Union. Alcon has partnered with Transcend Medical and both companies are focused on developing surgical devices for glaucoma.
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