Glaucoma Therapeutics Market to Grow with a CAGR of 6.48% through 2029
Rising focus on Minimally
Invasive Glaucoma Surgery (MIGS) is expected to drive the Global Glaucoma
Therapeutics Market growth in the forecast period.
According
to TechSci Research report, “Glaucoma Therapeutics Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2029”,
the Global Glaucoma Therapeutics Market stood at USD 7.24 Billion in 2023 and
is anticipated to grow with a CAGR of 6.48% through 2029. One
of the primary drivers of the glaucoma therapeutics market is the aging global
population. Glaucoma is more common among older individuals, and the risk of
developing the disease increases with age. As the world's population continues
to age, the prevalence of glaucoma is expected to rise. This demographic shift
is a significant driver for the market, as it increases the pool of potential
patients who may require glaucoma treatment and management.
Growing
awareness about eye health and the importance of regular eye check-ups has led
to earlier diagnosis and treatment of glaucoma. In many cases, individuals who
were previously undiagnosed are now seeking medical attention, thanks to
educational campaigns and increased public awareness. Early diagnosis and
treatment are critical in managing glaucoma and preventing vision loss, which,
in turn, fuels the demand for glaucoma therapeutics.
Advancements in
diagnostic and therapeutic technologies have played a pivotal role in the
growth of the glaucoma therapeutics market. High-precision imaging tools and
diagnostic equipment allow for more accurate and early detection of glaucoma.
This not only improves patient outcomes but also drives the market as
healthcare providers seek state-of-the-art equipment and therapies to offer the
best care to their patients.
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"Global Glaucoma Therapeutics Market”
Global
Glaucoma Therapeutics Market is segmented into glaucoma type, treatment type, regional distribution, and company
Based
on the glaucoma type, open-angle glaucoma emerged as the dominant segment in
the global glaucoma therapeutics market in 2023. Open-angle glaucoma is often
characterized by a chronic and asymptomatic progression. Patients may not
experience noticeable symptoms until the disease has advanced significantly. As
a result, early diagnosis and long-term management are crucial. This chronic
and insidious nature necessitates sustained and lifelong treatment,
contributing to the demand for glaucoma therapeutics. In the majority of
glaucoma cases, healthcare providers start with the less invasive and
non-surgical treatment options, such as eye drops and medications. Open-angle
glaucoma typically lends itself well to these conservative therapies. These
treatment approaches are often the first line of defense against glaucoma,
further driving the demand for therapeutic options targeting open-angle
glaucoma. Open-angle glaucoma is more common in older individuals and is often
associated with age-related factors. As the global population continues to age,
the incidence of open-angle glaucoma is on the rise. The aging demographic,
particularly in regions with rapidly aging populations, contributes to the
higher demand for treatments for open-angle glaucoma.
Based
on the treatment type, medication emerged as the dominant segment in the global glaucoma therapeutics in 2023. Medications allow for a
conservative approach to glaucoma management. Patients typically start with eye
drops to lower intraocular pressure and may only progress to surgical
interventions if these treatments become insufficient. This stepwise approach
aligns with the principle of minimizing risks and intervention levels. The ease of administering eye drops and
the lower risk of side effects compared to surgical procedures contribute to
better patient adherence. Patients are more likely to follow their prescribed
medication regimens, ensuring effective management of the condition. Medications
are often more cost-effective than surgical interventions. Surgical procedures
can involve higher expenses, including surgical fees, post-operative care, and
potential complications. Medications are a more affordable and accessible
option for glaucoma treatment. Glaucoma
medications, including eye drops, have a long history of use and a
well-established track record of efficacy. Healthcare providers are familiar
with their use and trust their ability to control intraocular pressure
effectively.
North
America emerged as the dominant player in the global glaucoma therapeutics market in 2023, holding the largest market
share. North America has widespread access to innovative and advanced glaucoma
therapeutics. The pharmaceutical industry in the region is at the forefront of
developing new medications and treatments, including minimally invasive
glaucoma surgeries (MIGS) and personalized medicine options. Patients in North
America have access to a wide array of treatment choices. North America is a
hub for glaucoma research and development. Numerous academic institutions,
medical centers, and pharmaceutical companies in the region are actively
engaged in glaucoma-related studies and clinical trials. These efforts
contribute to the development of innovative therapeutic approaches. Health insurance coverage in North
America is relatively widespread, which helps alleviate the financial burden of
glaucoma treatment for many patients. Insurance policies often cover the costs
of diagnostic tests, medications, and surgeries, making it more accessible for
patients to receive appropriate care.
Major companies
operating in Global Glaucoma Therapeutics Market are:
- Novartis AG
- Merck & Co. Inc
- AbbVie, Inc.
- Bausch Health Companies, Inc.
- Teva Pharmaceutical
Industries Ltd.
- Pfizer Inc.
- Alcon, Inc.
- Inotek
Pharmaceuticals Corporation
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“The
global Glaucoma Therapeutics market is anticipated to experience significant
growth in the coming years. the aging global population, particularly in
developed regions, is expected to drive the demand for glaucoma treatment and
management, as age is a primary risk factor for the disease. Also, advancements
in medical technology, including diagnostic tools, pharmaceutical innovations,
and minimally invasive surgical procedures, are improving the effectiveness of
glaucoma therapeutics. Third, increased awareness and proactive patient
education campaigns are promoting early diagnosis and treatment adherence.
Furthermore, collaborations among pharmaceutical companies, healthcare
providers, and government agencies are fostering research and development,
expanding access to care, and driving innovation in the field.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Glaucoma
Therapeutics Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, Segmented By Treatment Type (Eye drops, Medication, Laser
Surgery, Traditional Surgery), By Glaucoma Type (Open-angle, Closed angle) ,By Region
and Competition, 2019-2029F”, has evaluated the future growth potential of Global
Glaucoma Therapeutics Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Glaucoma Therapeutics Market.
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