The global glaucoma therapeutics market is witnessing an exceptional rise. The increasing prevalence of glaucoma, resulting in visual impairment and, sometimes, blindness, is creating an immense demand for glaucoma therapeutics across the world. The considerable rise in diabetic patients and geriatric population base, both severely susceptible to glaucoma, is adding substantially to the growth of the glaucoma therapeutics market.
According to Transparency market Research (TMR), the worldwide glaucoma therapeutics market reached US$5.93 bn in 2017. Proliferating at a CAGR of 2.90% between 2018 and 2026, the opportunity in this market is expected to touch US$7.65 Bn by the end of 2026.
North America Continues on Top
On the geographical basis, the global glaucoma therapeutics market is classified into North America, Latin America, Europe, Asia Pacific, the and Middle East and Africa. In 2017, North America and Europe, collectively, held a share of more than 50% in the global market. Currently, North America has acquired the dominance over the global market and is expected to retain it the next few years. The significant rise in the geriatric population, increasing awareness among the population pertaining to glaucoma, a well-established healthcare infrastructure, and the presence of favorable reimbursements policies are driving the growth of this regional market.
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On the other hand, the glaucoma therapeutics market in Asia Pacific is anticipated to expand at a relatively higher pace in the years to come. The increasing government support in the medical and healthcare sector, in terms of capital funding, is likely to boost the Asia Pacific glaucoma therapeutics market in the near future. Other regional markets, however, are predicted to witness sluggish growth over the next few years.
The leading players in the global glaucoma therapeutics market are Merck & Co., Allergan Inc., Pfizer Inc., Santen Pharmaceuticals, Novartis AG., Aerie Pharmaceuticals, and Valeant Pharmaceuticals.
This post was originally published on Industry Updates Daily