Glaucoma therapeutics market players remain largely invested in the development of new products and optimizing production to enable easier recovery of the market after the coronavirus contagion.
ROCKVILLE, MD / ACCESSWIRE / July 29, 2020 / The global glaucoma therapeutics market is expected to expand to a US$ 7.6 Bn valuation by 2026. The Fact.MR report says, the coronavirus outbreak has resulted in suspended operations of ophthalmic practices, with treatments often being postponed. Consequently, the demand for glaucoma therapeutics solutions has gone down significantly. In addition, the production of associated drugs has also slumped, as a large section of pharmaceutical resources have been directed towards the covid-19 crisis.
'Innovations in diagnostic tools and an expanding demographic of elderly patients are key factors that aid the growth of the glaucoma therapeutics market. Further, awareness programs in emerging economies will also contribute to growth of the industry post pandemic,' says the FACT.MR report.
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Glaucoma Therapeutics Market- Key Takeaways
- Prostaglandin analog drugs are highly preferred among ophthalmologists owing to reduced side effects in intraocular pressure attributes.
- Open angle glaucoma, as the most prevalent indication will account for most glaucoma therapeutics applications.
- North America remains a dominant market owing to high number of cases, and investments into ophthalmic infrastructure.
Glaucoma Therapeutics Market- Driving Factors
- Rising number of elderly and diabetics on a global scale is a key factor contributing to demand.
- Innovations in eye care infrastructure and therapy options, coupled with awareness campaigns aid growth.
Glaucoma Therapeutics Market- Major Restraints
- Lack of adherence to administration of dosages among patients is a key challenge to market players.
- Slow approval of new ophthalmic treatment solutions by regulators such as the FDA hold back market prospects.
COVID-19 Impact on Glaucoma Therapeutics Market
Following the advent of the coronavirus pandemic, lockdown measures continue to be implemented across many parts of the world. Elective healthcare services, including those in the ophthalmic solutions sector have been delayed. In addition, lack of remote healthcare services for many glaucoma patients is holding back market growth. However, sustained production efforts will enable distribution of adequate supplies after the pandemic comes under control.
Explore the global Glaucoma Therapeutics Market with 56 figures, 56 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/4775/glaucoma-therapeutics-market
Glaucoma therapeutics market players are increasingly pushing for product development and launches to consolidate their market positions. For instance, Aerpio Therapeutics has initiated clinical trials with razuprotafib for patients who have higher intraocular pressure with open angle glaucoma. Nicox S.A. has is also running trials on a nitric oxide donating bimatoprost to reduce intraocular pressure in glaucoma patients. Further, Allergan has announced the FDA approval of its biodegradable drug implant for glaucoma patients.
Aerie Pharmaceuticals Inc., Allergan plc, Valeant Pharmaceuticals Inc., Merck & Co., Inc., Santen Pharmaceuticals Co. Ltd., Pfizer Inc., and Novartis AG are some major glaucoma therapeutics market players.
About the Report
This study offers readers a comprehensive market forecast of the glaucoma therapeutics market. Global, regional and country-level analysis of the top industry trends impacting the glaucoma therapeutics market is covered in this FACT.MR study. The report offers insights on the glaucoma therapeutics market on the basis of drug class (prostaglandins, beta blockers, alpha agonists, carbonic anhydrase inhibitors, combination medication, and cholinergic), and end user (hospitals, ophthalmic clinics, and ambulatory surgical enters) across five regions (North America, Latin America, Europe, Asia Pacific, and MEA).
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