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Antiglaucoma Drugs Market Trends, Top Companies, Share, Growth And Forecast 2033
Antiglaucoma Drugs Market Trends
According to The Business Research Company's, The antiglaucoma drugs market size has grown strongly in recent years. It will grow from $15.07 billion in 2023 to $16.27 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to aging population, increasing awareness, growing healthcare expenditure, regulatory approvals.
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Market Drivers and Trends:
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. For instance, in July 2021, the General Assembly of the United Nations passed a new resolution declaring increased efforts to include eye care services in universal health coverage and address the growing negative effects of vision loss on sustainable development caused by short and farsightedness, glaucoma, and cataracts. These government initiatives will stimulate awareness among the people about glaucoma driving the market for anti-glaucoma drugs.
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.
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Major Key Players of the Market:
Aerie Pharmaceuticals Inc.; Allergan Inc.; Novartis AG; Abbott Healthcare Pvt. Ltd.; Johnson & Johnson; Merck & Co.; Genentech Inc.; Pfizer Inc.; Bayer AG; Santen Pharmaceuticals Company Ltd.; Regeneron Pharmaceuticals Inc.; Valeant Pharmaceuticals International Inc.; F. Hoffmann-La Roche Ltd.; Hoya Corporation; Bausch + Lomb Inc.; Fera Pharmaceuticals LLC; Thea Pharma Inc.; Alcon AG; Teva Pharmaceutical Industries Ltd.; Sun Pharmaceutical Industries Ltd.; Akorn Inc.; Mylan Pharmaceuticals Pvt. Ltd.; Apotex Inc.; Lupin Pharmaceuticals Inc.; Wockhardt Ltd.; Zydus Pharmaceuticals Inc.; Cooper Laboratories Inc.; Cooper Pharma Ltd.; Rafarm SA; Altaire Pharmaceuticals Inc.
Antiglaucoma Drugs Market 2024 Key Insights:
• The antiglaucoma drugs market size is expected to see strong growth in the next few years. It will grow to $21.9 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%.
• Government Initiatives Promoting Glaucoma Awareness In The Antiglaucoma Drug Market
• Innovative Therapies In The Antiglaucoma Drugs Market
• North America was the largest region in the antiglaucoma drugs market in 2023.
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