Glaucoma Therapeutics Market -
Regional Analysis
On the basis of region, Glaucoma
Therapeutics Market is segmented into North America, Latin America, Europe,
Middle East, Asia Pacific, and Africa. North America holds dominant position in
glaucoma therapeutics market, followed by Asia Pacific. Increasing prevalence
of diabetes, increasing ocular disorders, and increasing number of blind and
visually impaired people in turn opting for glaucoma treatment are expected to
drive growth of the glaucoma therapeutic market in these region. For instance,
According to National Federation of the Blind, 2014, an estimated 10 million
people in the U.S. are blind or visually impaired. It is estimated that around
1.3 million people are legally blind in the U.S. and the number is projected to
increase to 75,000 people annually in the U.S.
Asia Pacific is expected to gain
a significant traction over the forecast period, owing to the government
initiatives and awareness programs to eliminate the blindness, which in turn is
propelling demand for glaucoma therapies in this region. For instance, in 2014,
HelpAge India—a nonprofit organization—launched a special campaign to address
the issue of blindness for underprivileged elderly populations of India.
However, strict regulations
concerning marketing and approvals and the side effects of glaucoma medications
are expected to hinder growth of the glaucoma therapeutic market in near
future. According to the Glaucoma Research Foundation, 2017 data findings, in
the U.S. use of alternative medicines for the treatment of glaucoma has
increased 10% to 15% in the past ten years. Furthermore, according to the same
source, 50% of the glaucoma patients in the U.S. use some form of alternative
therapy in 2017.
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Glaucoma refers to the group of
conditions characterized by optic nerve damage, visual field loss, and
secondary to retinal ganglion cell damage, which may lead to death. According
to the International Agency for the Prevention of Blindness: 2017, glaucoma is
second leading cause of blindness and leading cause of irreversible blindness
worldwide. The most common types of glaucoma are Primary Open Angle Glaucoma
(POAG) and Primary Angle Closure Glaucoma (PACG). Moreover, PACG is most common
in South-East Asian population while POAG is most common in white Caucasians
and individuals of African origin. PACG is associated with a high risk of
blindness as compared to POAG.
Glaucoma Therapeutics Market
Drivers
Increasing number of patients
with glaucoma and increasing incidences of blindness are expected to be the
major driving factor for growth of the global glaucoma therapeutics market.
According to the International Agency for the Prevention of Blindness, 2010
data findings, it is estimated that by 2020, around 80 million people will
suffer from glaucoma, with an increase of about 20 million form 2010.
Furthermore, in 2010, over 8 million people were bilaterally blind due to
glaucoma, which is expected to increase to over 11 million by 2020. The
significant risk of developing glaucoma increases with geriatric population,
increased intraocular pressure, positive family history for glaucoma, and
ethnicity. According to the American Academy of Ophthalmology (AAO), 2016: the
global prevalence of glaucoma is estimated to rise to 76 million in 2020 and
111.8 million in 2040.
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Glaucoma may occur among the
people with or without diabetes. Moreover, people with diabetic retinopathy
have an increased risk of 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. Rapidly increasing geriatric population is one of
the important factors for increasing prevalence of glaucoma, which in turn is
projected to drive growth of the glaucoma therapeutics market in near future.
For instance, according to the International Diabetes Foundation (IDF) 2017
statistics, the number of people with diabetes aged between 20 to 79 years are
increasing worldwide. Among which, Africa (156%) is accounted to register the
highest diabetic population, followed by Middle East (110%), South East Asia
(84%), Latin and Central America(62%), North America (35%), Europe (16%), and
Western Pacific (15%).
Glaucoma Therapeutics Market
Competitive Landscape
Some of the key players operating
in the glaucoma therapeutics market include Valeant Pharmaceuticals
International, Inc., Allergan Inc., Merck KGaA, Fera Pharmaceuticals, LLC, Teva
Pharmaceutical Industries Ltd., Pfizer Inc., Aristo Pharmaceuticals Pvt. Ltd.,
Santen Pharmaceutical Co., Ltd., Aerie Pharmaceuticals, and Novartis AG. Key
players in the market are focusing on organic growth strategies in order to
gain maximum market share and retain leading position in the market. For
instance, in December 2017, Aerie Pharmaceuticals, Inc. received the U.S. Food
and Drug Administration (FDA) approval for Rhopressa (netarsudil ophthalmic
solution) 0.02%, indicated for lowering of elevated intraocular pressure (IOP)
in patients with open-angle glaucoma or ocular hypertension.
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