Betaxolol Market - Regional
Analysis
Geographically, global Betaxolol
Market is segmented into North America, Latin America, Europe, Asia
Pacific, Middle East, and Africa. North America holds the maximum share for
ocular surgery, owing to high prevalence of diabetes and eye related disorders
among the populace in the region. According to National Federation of the
blind, 2014, around 1.3 million people were legally blind in the U.S. and
estimated that over 75,000 people in the U.S. are expected to suffer from
blindness or visual impairment annually. Furthermore, Asia Pacific betaxolol
market is expected to witness significant growth owing to the presence of
generic key players such as Lupin Ltd. And Cipla Ltd. especially in India,
which are engaged in manufacturing the generics of betaxolol to retain the
market share in the region.
Betaxolol is a racemic mixture
and beta-adrenergic receptor inhibitor used to treat patients with chronic
open-angle glaucoma or ocular hypertension. It was first approved by the U.S.
Food and Drug Administration (FDA) in 1989, as an oral tablet. Betaxolol is
used either alone or in combination with other medicines to lower down the
pressure within the heart or eye. In the heart, Betaxolol decreases the cardiac
contractility and rate selectively by actively binding and blocking beta-1
adrenergic receptors. This leads to reduction in cardiac output and lowers
blood pressure. Topical applications in the eye reduces aqueous humor secretion
and lowers the Intraocular Pressure (IOP) resulting in low risk of optic nerve
damage and loss of vision in patients. Betaxolol further inhibits the release
of renin, a hormone secreted by the kidneys that causes constriction of blood
vessels. However, lightheadedness, drowsiness, dizziness, and headache are some
of the symptoms reported while taking this medication at initial stage. For
oral administration, Betaxolol is available as 10-mg and 20-mg tablets whereas
in liquid form, it comes in 2.5, 5, 10, and 15 mL of bottles of 0.25% sterile
ophthalmic suspension and prescribed as one to two drops in the affected eye
twice daily.
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Betaxolol Market Drivers
Increasing prevalence of glaucoma
worldwide is propelling growth of the market. According to the Glaucoma
research Foundation, glaucoma is the leading cause of irreversible blindness
worldwide. Around 10% of the glaucoma patients who receive proper treatment
still experience a loss of vision. Around 64.3 million people were estimated to
be suffering from glaucoma worldwide, in 2013. Furthermore, according to the
American Academy of Ophthalmology, the prevalence of glaucoma is high in Africa
and Latin America. Patients who fail to respond to medications, undergo
trabeculectomy surgery. However, few patients do not get complete relief from
glaucoma even after trabeculectomy surgery. Therefore, novel treatment options
are required for providing relief to such patients. Reducing intra-ocular
pressure is the most important long term medical need of refractory glaucoma
patients, which can be overcome by the use of Betaxolol drug, this in turn is expected
to create lucrative opportunities for market growth. Moreover, people suffering
from diabetic retinopathy are more prone to glaucoma. The condition is
associated with abnormal blood vessel growth, which can result in retinopathy
and leads to blockage of natural drainage of the eye. Thus, increase diabetic
patient pool may also augment the growth of the betaxolol market size.
Increasing prevalence of
hypertension diseases is also expected to drive growth of the market at
significant rate. According to the reports from a variety of sources, including
Centers for Disease Control and Prevention (CDC) and World Health Organization
(WHO) in 2015, the global prevalence of pulmonary arterial hypertension is
projected to be 100,000 – 200,000, that is about 15 - 50 patients per million
of the population. Although treatment available for pulmonary arterial
hypertension is limited, beta-adrenergic receptor inhibitor, Prostacyclin and
prostacyclin analogs, phosphodiesterase-5 (PDE-5) inhibitors are available to decrease
symptoms, slow down disease progression, and improve the quality of life.
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Betaxolol Market Restraint
Stringent regulatory approvals to
ensure the safety of drugs and patent expiry of betaxolol drugs such as
Betoptic S and Betoptic Liq, are major challenge for growth of the market, as
the generic versions of these drugs are sold at 70% to 80% lower prices as
compared to the branded drugs.
Betaxolol Market – Competitive Landscape
Organic and inorganic strategies
by market players such as merger, collaboration, acquisition, and research and
development for expansion of their business across the regions is expected to
boost growth of the market. For instance, in 2016, Humanwell Healthcare Group
and PuraCap Pharmaceutical acquired Epic Pharma LLC for $550 million to expand
both their commercial and manufacturing capabilities, as well as their presence
in the U.S. and international generics market.
The market players operating in
betaxolol market include Novartis AG, Genix Pharma (Pvt.) Ltd., East West
Pharma, Hetero Healthcare Ltd. (GenX), Cadila Pharmaceuticals Ltd., Jawa
Pharmaceuticals (INDIA) Pvt. Ltd., DAL Medical Services Company Ltd, Sentiss
Pharma Pvt. Ltd., Humanwell Healthcare Group, and PuraCap Pharmaceutical LLC.
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