North America Glaucoma Therapeutics Market grows with growing awareness regarding glaucoma and the availability of various treatment options
The research is a combination of primary and secondary research, conducted for understanding and arriving at trends, used to forecast the expected revenue of the major glaucoma therapeutics market in the near future. Primary research formed the bulk of our research efforts with information collected from in-depth interviews and discussions with a number of key industry experts and opinion leaders. Secondary research involved study of company websites, annual reports, press releases, investor presentations, analyst presentation and various international and national databases. The report provides estimated market size in terms of US$ Mn for each by drug class, end user, and geography for the period 2014 to 2024, considering the macro and micro environmental factors. The revenue generated from each product was calculated by considering number of products used in the procedures and their market demand as per their use, number of product launched, average cost of products of each sub segment, trends in industry, end user trend, and adoption rate across all the geographies. The revenue generated for drug class was calculated on the basis of prevalence of diseases, and number of people affected by the disease
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The market report comprises an elaborated executive summary, which includes market snapshot that provides information about various segments of the market. It also provides information and data analysis of the market with respect to market segments based on drug class, end-user, and geography. The market overview section of the report analyzes market dynamics such as drivers, restraints and opportunities that influences the glaucoma therapeutics market in the current and future scenario.
Based on geography, the market has been analyzed for major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The study also covers detailed country analysis contributing majorly in the glaucoma therapeutics market.
North America Dominates Global Market by Revenue
Based on drug class, the glaucoma therapeutics market is led by the combination segment, which is projected to account for a share of 25.8% by 2024. Expanding at an 8.8% CAGR from 2016 to 2024, the segment is fueled by the cost-effective nature of these drugs as compared to individual drugs. On the basis of end use, hospitals formed the leading segment of the glaucoma therapeutics market in 2015. The maximum opportunity was also presented by this segment. Hospitals provide healthcare services at an affordable cost to citizens across the U.S., Canada, the U.K., and several other countries in Europe. This has ensured the dominance of the hospitals segment.
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Geographically, North America is expected to account for a large share in the glaucoma therapeutics market in terms of revenue owing to the rising usage of highly priced prostaglandins. The region accounted for almost half the market in 2015. Exhibiting a 4.2% CAGR from 2016 to 2024, Asia Pacific presents immense scope for growth. India holds a major share in the APAC market in terms of revenue owing to the rising prevalence of glaucoma in the country and a comparatively lower cost of treatment.
Improving Socio-economic Living Conditions Key in Driving Uptake of Glaucoma Therapeutics
The growing need to offer improved eye care and preserve the vision of the patients among healthcare providers has resulted in the development of enhanced therapeutic options for the treatment of glaucoma. “Although eye drops have, until recent years, been the primary method of treatment, the market has been witnessing an evident shift toward combination drugs,” the author notes. The strong pipeline of combination drugs for the treatment of glaucoma therefore ensures steady growth of this market. Aerie Pharmaceuticals’ pipeline of combination drugs such as Rho Kinase Inhibitor (ROCKi) and norepinephrine transport inhibitor (NETi) is a key example of this development.
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In addition to this, an improvement in the socio-economic conditions of people in developing countries has increased spending capacity, which has not only resulted in a rise in healthcare expenditure but also led a surge in awareness about living a healthy lifestyle. This has, in turn, upped the early detection of glaucoma and spurred the demand for glaucoma therapeutics.
In contrast, the possible side effects of glaucoma drugs and the growth of the generic drugs market are likely to be the key deterrents in the coming years.
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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