Asia to Account for 25% of Global Revenue Share for Glaucoma Therapeutics Market by 2031
The glaucoma therapeutics market revenue will likely total US$ 6.6 Bn for 2021, according to Fact.MR. Overall, the market is expected to reach US$ 10 Bn by 2031, expanding 1.5x across the forthcoming decade. Demand for beta-blockers drug class will accelerate, anticipated to register a CAGR of 4.7% from 2021-2031.
Throughout the pandemic, emergency surgeries in the country arose 4.3x, while more non-incisional procedures and less diagnostic testing were performed to minimize post-operative visits and viral load transmission. Future growth prospects are reliant on increased funding for clinical trials for discovering novel drugs, discovery of advanced surgical interventions and enhanced government support. Hence, the market is likely to surge at a CAGR of 4.2% from 2021-2031.
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How does increased funding for research partnerships improve glaucoma treatments in Asia?
The demand for glaucoma medications has increased due to rising government investment in the medical sector. There is a higher need for glaucoma treatments as global businesses continue to expand. Asia will be responsible for 25% of worldwide market revenue, according to Fact.MR.
Increased economic growth, increased medicine availability, and increased forays into cutting-edge therapy are all contributing to an increase in the demand for eye treatments in these areas. By 2020, it is anticipated that there would be a significant increase in the number of POAG and PACG patients in Asia. As a result, there are more cases of glaucoma in Asia than in other places. Moreover, Asia will continue to have the most PACG and POAG cases.
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Competitive Landscape
Strategic collaborations enable manufacturers to increase production and meet consumer demand which will increase revenue and market share. New products and technologies will enable end-users to benefit from products that are eco-friendly by nature. Key developments in the market are as follows:
- In May 2020, the U.S Food & Drug Administration approved Allergan Plc.’s DURYSTATM (bimatoprost implant) New Drug Application. The drug is amongst the first intracameral, sustained-release implant indicated to reduce intraocular pressure (IOP) in patients with open-angle glaucoma, or ocular hypertension
- In October 2021, Novartis AG pledged to work with partners all around the world to help eliminate preventable visual impairment and blindness by reimagining access to eye care. The company has partnered with the International Agency for the Prevention of Blindness during the World Sight Day to initiate the #LoveYourEyes campaign
Key Companies Profiled:
- Allergan Plc.
- Merck & Co. Inc.
- Novartis AG
- Pfizer Inc.
- Santen Pharmaceuticals Co. Ltd.
- Valeant Pharmaceuticals Inc.
- Aerie Pharmaceuticals Inc.
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Key Segments Covered
- Drug Class
- Prostaglandins
- Beta Blockers
- Alpha Agonists
- Carbonic Anhydrase Inhibitors
- Combination Medications
- Cholinergic Medications
- End User
- Hospitals
- Ophthalmic Clinics
- Ambulatory Surgical Centers
Key Questions Covered in the Glaucoma Therapeutics Market Report
- What is the projected value of the Glaucoma Therapeutics factors Industry in 2022?
- At what rate will the global Glaucoma Therapeutics factors market size grow until 2031?
- Which are the factors hampering the growth of Glaucoma Therapeutics factors?
- Which region is expected to lead in the global Glaucoma Therapeutics factors market By 2031?
- Which are the factors driving the Glaucoma Therapeutics factors Industry during the forecast period?
- What is the expected market value of the Glaucoma Therapeutics factors market during the forecast period?
Regional Analysis For Glaucoma Therapeutics Market:
- APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (USA, Canada and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, United Arab Emirates, South Africa)
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