Global Glaucoma Eye Drops Market to Surpass US$ 2,182.3 Million by 2027, Says Coherent Market Insights (CMI) | Financial Buzz

Global Glaucoma Eye Drops Market to Surpass US$ 2,182.3 Million by 2027, Says Coherent Market Insights (CMI)

According to Coherent Market Insights, the global glaucoma eye drops market is estimated to be valued at US$ 1,360.1 million in 2020 and is expected to exhibit a CAGR of 7.0% during the forecast period (2020-2027).

Key Trends and Analysis:

The global glaucoma eye drops market is expected to witness significant growth owing to launch of products. For instance, in April 2018, Aerie Pharmaceuticals, Inc., an ophthalmic pharmaceutical company focused on the discovery, development, and commercialization of first-in-class therapies for the treatment of patients with open-angle glaucoma and other diseases of the eye, announced that it has launched Rhopressa in the U.S.

Furthermore, in November 2018, Santen Pharmaceutical Co., Ltd. and Ube Industries, Ltd. announced the launch of glaucoma and ocular hypertension treatment EYBELIS Ophthalmic Solution 0.002% (Omidenepag Isopropyl; hereinafter, EYBELIS) in Japan. Omidenepag Isopropyl, the API in EYBELIS, is the world’s first selective EP2 receptor agonist and is an ocular hypotensive agent with a new mechanism of action.

The increasing prevalence of open-angle glaucoma is expected to be a major factor driving the growth of the glaucoma eye drops market. For instance, according to the American Academy of Ophthalmology’s 2013 data, primary open-angle glaucoma (POAG) is responsible for 12.3% of blindness cases worldwide. Moreover, according to an article published in the National Center for Biotechnology Information, in January 2018, the prevalence of glaucoma in Israel was 3.9% while the prevalence of primary open angle glaucoma (POAG) was 3.0% in the country.

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Key Market Takeaways:

The global glaucoma eye drops market is expected to exhibit a CAGR of 7.0% during the forecast period (2020-2027) owing to the increasing number of product approvals by regulatory authorities. For instance, in December, the U.S. FDA approved the netarsudil ophthalmic solution, 0.02% Rhopressa, by Aerie Pharmaceuticals, Inc. It is a novel once-daily eye drop for lowering of elevated intraocular pressure in patients with open-angle glaucoma or ocular hypertension.

North America is expected to witness significant growth of the market, owing to the increasing number of product launches and approvals of glaucoma eye drops by regulatory bodies. For instance, in November 2017, Bausch + Lomb, a subsidiary of Valeant Pharmaceuticals International, Inc., and Nicox S.A. received U.S. the Food and Drug Administration’s approval of the New Drug Disease Indication (NDA) for VYZULTA, indicated for the treatment of open-angle glaucoma.

Competitive Landscape:

Key players operating in the global glaucoma eye drops market are Merck & Co., Inc., Allergan Plc. Novartis AG. Teva Pharmaceutical Industry, Pfizer, Inc., Bausch & Lomb Inc., Inotek Pharmaceutical, Jadran-galenski laboratorij d.d., Aerie Pharmaceutical, and Mylan N.V.

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Market Segmentation:

  • By Drug Type:

    • Prostaglandin analogs
    • Beta blockers
    • Alpha agonists
    • Carbonic Anhydrase Inhibitors (CAIs)
    • Combined Medications
    • Others (rho-kinase inhibitor, Cholinergic agonist)
  • By Disease Indication:

    • Angle-closure Glaucoma
    • Open-angle Glaucoma
  • By Distribution Channel:

    • Hospital Pharmacy
    • Retail Pharmacy
    • Online Pharmacy
  • By Composition:

    • Preservative Free
    • BAK-Based
    • Non BAK-Based Preservatives
  • By Region:

    • North America

      • U.S.
      • Canada
    • Europe

      • U.K.
      • Germany
      • Italy
      • Spain
      • France
      • Russia
      • Rest of Europe
    • Asia Pacific

      • Australia
      • India
      • China
      • Japan
      • ASEAN
      • South Korea
      • Rest of Asia Pacific
    • Latin America

      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
    • Middle East

      • GCC
      • Israel
      • Rest of Middle East
    • Africa

      • South Africa
      • Central Africa
      • North Africa

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Read more: https://www.coherentmarketinsights.com/ongoing-insight/optical-lens-edger-market-4167

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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.

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