Glaucoma Treatment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 09/06/2017 -- Glaucoma is a chronic, degenerative, permanent disorder whose rate increases essentially with age rather than causing immediate blindness. According to a survey of WHO, Glaucoma is the second most common cause of blindness affecting the population worldwide after cataract (47.9%). In general, Glaucoma occurs as after effects of increased intraocular pressure (IOP) brought about by an abnormality or malfunctioning of the eye drainage system. The normal IOP is in between the range of 19-21 inches of Hg but when the pressure exceed than this range, it causes compression of retina and optic nerve causing progressive, leading to permanent loss of visual perception if not treated on time. The most common types of glaucoma are open angle glaucoma and closed angle glaucoma.
As per International Council of Ophthalmology report, closed angle and open angle glaucoma individually account for about half of all glaucoma cases and are the major cause of irreversible vision globally. For glaucoma, everyone is at risk from babies to senior citizens. The market for glaucoma treatment has been growing rapidly since last few years due to increasing number of people with glaucoma and introduction of innovative treatments. In past few years different therapies are introduced including, laser therapy, photodynamic therapy, IOPtiMa therapy along with eye drops and pills which will grow the glaucoma treatment market in coming years.
The driver of glaucoma treatment market includes rising geriatric population and healthcare expenditure. It has been stated that glaucoma is more prevalent among the people above age of 60 and globally growing geriatric population is expected as the main reason for growth of glaucoma treatment market in forecast period of 2016-2024. Cases of congenital glaucoma are increasing and main reason for this problem is changing lifestyle and habits. According to Glaucoma Research Foundation survey, approximately one out of 10,000 babies born with glaucoma in United States. Improved medical coverage and new innovation in glaucoma drugs and treatments are also the key factors which are expected to drive the growth of glaucoma treatment market.
Global glaucoma treatment market is segmented on the basis of drug class, therapy used, disease indication, end users and region. Based on drug class, glaucoma treatment market further segmented into Prostaglandin Analogs (PGAs), Alpha Agonist, Beta Blockers, Cholinergic, Carbonic Anhydrase Inhibitors, and Combined Medications. Prostaglandin Analogs drug segment is expected to account for the largest share of the global glaucoma treatment market as new innovative drugs are coming are in this segment also on the basis of treatment, also these drugs are widely prescribed drugs.
In the basis of therapy, glaucoma treatment market is further segmented into Glaucoma surgery, Laser iridotomy, Laser trabeculoplasty, Aqueous shunt surgery and Peripheral iridectomy. Glaucoma surgery segment is expected to have highest share of glaucoma treatment market. Increasing geriatric population and trust buildup on surgery treatment as compared to laser treatments are the factors contributing towards the growth of this segment in glaucoma treatment market in coming years.
On the basis of disease indication, glaucoma treatment market is further segmented into angle closure glaucoma (ACG), open angle glaucoma (OAG), secondary glaucoma, congenital glaucoma and other. Other less common types of glaucoma includes pigmentary glaucoma, pseudoexfoliation glaucoma and normal-tension glaucoma (NTG). The most common types of glaucoma are open angle glaucoma (OAG) and closed angle glaucoma (CAG). As per International Council of Ophthalmology report, closed angle and open angle glaucoma individually account for about half of all glaucoma cases also they are responsible for the major cause of irreversible vision worldwide. Therefore, Open angle glaucoma and angle closure glaucoma segments are expected to account for highest share of glaucoma treatment market in the forecast period of 2016-2024. On the basis of end users, glaucoma treatment market is segmented into hospitals, specialized clinics, ambulatory surgery centers, hospital pharmacies, drug stores and retail pharmacies.
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Geographically, the global glaucoma treatment market is divided into five key regions, North America, Europe, Asia-Pacific, Latin America and the Middle East, and Africa. In terms of geography, North America is expected to account for the extensive market share for glaucoma treatment market where the number of glaucoma patients is the highest. Moreover, the Asian market is expected to become a huge potential market for glaucoma treatment in the forecast period, as it is expected to grow at fastest CAGR among all other regions.
Major players in glaucoma treatment market includes Novartis AG, Allergan, Merck & Co., Inc., Akorn, Inc., Bausch & Lomb Incorporated, Teva Pharmaceuticals, Pfizer and Santen.
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