NEW YORK, Feb. 20, 2023 /PRNewswire/ -- Major players in the antiglaucoma drugs market are Aerie Pharmaceuticals, Inc., Allergan, Novartis AG, Abbott Healthcare, Johnson & Johnson, Merck & Co, Genentech Inc., Pfizer, Inc., Bayer AG and Santen Pharmaceuticals Company Ltd.
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The global antiglaucoma drugs market will grow from $14.02 billion in 2022 to $15.04 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The antiglaucoma drugs market is expected to grow to $19.30 billion in 2027 at a CAGR of 6.4%.
The antiglaucoma drug market consists of sales of dipivefrin, epinephrine, and apraclonidine.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Antiglacoma drug refers to a medication used to treat or prevent glaucoma, a condition in which damage to the optic nerve causes a progressive, irreversible loss of vision. Antiglaucoma drugs are used to treat or prevent glaucoma, a condition in which damage to the optic nerve causes a progressive loss of vision that cannot be reversed.
North America is the largest region in the antiglaucoma drugs market in 2022.Middle East is expected to be the fastest growing region in the forecast period.
The regions covered in the antiglaucoma drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of products in the antiglaucoma drug are alpha agonists, beta-blockers, prostaglandin analogs, combined medication, and others.Alpha-adrenergic agonists are sympathomimetic drugs that activate alpha-adrenergic receptors preferentially.
The different types include hospital prescription drugs and over-the-counter drugs and involve different types of disease conditions such as open-angle glaucoma, angle-closure glaucoma, normal-tension glaucoma, congenital glaucoma, and other types of glaucoma.
The incidence of glaucoma increases with age and due to the increase in the geriatric population worldwide, governments are launching initiatives to promote awareness of glaucoma and other eye disorders.For instance, the Vision Health initiative by the Centers for Disease Control and Prevention (CDC) in the USA aimed to prevent eye disorders including glaucoma, and improve overall eye health.
In Australia, the government-funded an eye screening program as part of its Vision 2020 initiative to promote awareness and prevent vision loss among the population suffering from glaucoma and other eye disorders. These government initiatives will stimulate awareness among the people about glaucoma driving the market for anti-glaucoma drugs.
Anti-glaucoma drugs are facing the risk of patent expiration in the USA and Europe.For instance, travoprost and bimatoprost, which are used in the treatment of glaucoma, will lose their patent in 2021.
This will result in the launch of generic forms of drugs that are priced lower than branded drugs thereby reducing the overall market growth.
Companies in the antiglaucoma drugs market are developing combination therapies in the treatment of glaucoma disease due to their ability to lower intraocular pressure in glaucoma patients.Most of the combination therapies are fixed dose drugs as it offers the patient ease of consumption when compared to non-fixed combinations.
Alcon launched a combination drug, Simbrinza which is a fixed combination of Brinzolamide and Brimonidine, to help patients in reducing the intake of multiple drugs for glaucoma.Rockland is a combination of a rho kinase inhibitor and a prostaglandin analog.
Combigan is a combination of beta blockers and alpha agonists. Cosopt is a combination of beta-blockers and carbonic anhydrase inhibitors.
To get an antiglaucoma drug approved by the United States Food and Drug Administration (USFDA), the drug should have comparable intraocular pressure (IOP) lowering efficacy and benefit-to-hazard ratio concerning the benchmark drug. For instance, Rhopressa (netarsudil) Ophthalmic Solution by Aerie Pharmaceuticals Inc., was approved by the US FDA considering its ability to lower IOP when compared to benchmarked drugs for glaucoma in the market.
The countries covered in the antiglaucoma drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The antiglaucoma drug market research report is one of a series of new reports that provides antiglaucoma drug market statistics, including antiglaucoma drug industry global market size, regional shares, competitors with an antiglaucoma drug market share, detailed antiglaucoma drug market segments, market trends and opportunities, and any further data you may need to thrive in the antiglaucoma drug industry. This antiglaucoma drug market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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