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Glaucoma Eye Drops Market Analysis | Coherent Market Insights

Read here the market research report on u201cGlaucoma Eye Drops Marketu201d published by CMI team.

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Glaucoma Eye Drops Market Analysis | Coherent Market Insights

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  1. Coherent Market InsightS Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. Glaucoma Eye Drops Market Analysis (2020-2027) • Glaucoma refers to the group of conditions characterized by optic nerve damage, visual field loss, and secondary to retinal ganglion cell damage, which can lead to death. • According to the International Agency for the Prevention of Blindness 2017, glaucoma is the 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).

  3. s • The significant risk of developing glaucoma increases with age, increased intraocular pressure, positive family history for glaucoma, and ethnicity. • For instance, according to the American Academy of Ophthalmology’s 2016 report, the global prevalence of glaucoma is estimated to rise to 76 million in 2020 and 111.8 million in 2040.

  4. COVID-19 IMPACT ANALYSIS • The coronavirus pandemic has drastically altered the lives of patients of glaucoma everywhere, and everyone is grappling with changes to health, daily routines, and management of glaucoma during the coronavirus pandemic. According to the World Health Organization Coronavirus Disease (COVID-19) Dashboard (WHO), the manifestation of the coronavirus has resulted in more than 7 million infected individuals worldwide as of June 2020. • According to the Bright Focus Foundation’s data of April 15, 2020, glaucoma is more prevalent in the African American population. African Americans also experience higher prevalence of diabetes and hypertension which makes them especially vulnerable to COVID-19 infection.

  5. s The WHO has encouraged ophthalmic drug manufacturing companies to take safety and responsible measures in order to reduce the spread of coronavirus. For instance, limiting the number of people in one area at a time, modifying workstation arrangements, and minimizing the cross flow of people between shifts to reduce potential exposure, along with enhanced cleaning and sanitization of facilities. The American Academy of Ophthalmology has prudently issued a statement to cease all non-urgent care in the office and all elective surgeries in the operating room to preserve much-needed resources. Healthcare providers, including ophthalmologists, may be called upon and deployed to the frontline to care for patients infected with COVID-19. Clinics are taking steps to ensure utmost safety for the patients. The 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).

  6. Figure 1. Global Glaucoma Eye Drops Market Share (%) Analysis, By Drug Type, 2020

  7. The increasing number of product launches and approvals are expected to drive the growth of glaucoma eye drops market. • Several novel glaucoma eye drops have been approved by regulatory bodies in different countries and major players in the market have launched various novel and innovative glaucoma eye drops. Rapid approvals and launches of novel products in the market are expected to be a major driver for growth of the glaucoma eye drops market. • For instance, in March 2019, the U.S. Food and Drug Administration (FDA) approved Aerie Pharmaceuticals' Rocklatan (netarsudil and latanoprost ophthalmic solution) for treatment of open-angle glaucoma or ocular hypertension.

  8. Rocklatan is a once-daily eye drop that is a fixed-dose combination of latanoprost, the most widely-prescribed prostaglandin analog (PGA), and netarsudil, the active ingredient in Rhopressa (netarsudil ophthalmic solution) 0.02%. It is a first-in-class Rho kinase (ROCK) inhibitor specifically designed to target the trabecular meshwork. • The glaucoma eye drops market is expected to witness high growth and generate high revenue owing to product launches for the treatment of glaucoma during the forecast period. For instance, in June 16 2020, Senju Pharmaceutical Co., Ltd. and Otsuka Pharmaceutical Co., Ltd. announced that a new combination ophthalmic solution for the treatment of glaucoma and ocular hypertension, AILAMIDE Combination Ophthalmic Suspension (generic name: brimonidine tartrate/brinzolamid), has been launched in Japan. Senju Pharmaceutical Co., Ltd. (marketing authorization holder) and Otsuka Pharmaceutical Co., Ltd. (collaborator) will conduct activities related to the provision of drug information for this drug.

  9. Glaucoma Eye Drops Market - Restraints • However, glaucoma is a disease that cannot be cured, but it can be controlled. Eye drops, pills, laser procedures, and surgical operations are used to prevent or slow further damage from occurring. • Glaucoma is an irreversible disease, and the extensive R&D activities make the drug very expensive which is expected to hamper the glaucoma eye drops market growth during the forecast period. • For instance, according to data published by the National Center for Biotechnology Information, yearly cost of prostaglandin analogs ranged from US$ 427.69 for Travatan (Alcon) to US$ 577.62 for Lumigan (Allergan).

  10. s • Alphagan P 0.15% had yearly calculated costs of US$ 559.08 for twice daily dosing per eye. Cosopt (Merck & Co.) costs as high as US$ 697.42 to US$ 873.98.

  11. Glaucoma Eye Drops Market – Regional Analysis • North America accounted for the largest share in the glaucoma eye drops market in 2019, 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. Food and Drug Administration’s approval of the New Drug Disease Indication (NDA) for VYZULTA, indicated for the treatment of open-angle glaucoma. Furthermore, Asia Pacific is expected to observe the fastest growth during the forecast period

  12. . Market players are focusing on various inorganic strategies such as mergers and agreements. For instance, in December 2018, Nicox SA entered an exclusive license agreement with Ocumension Therapeutics for the development and commercialization of NCX 470, an ophthalmic solution, in China, Hong Kong, Macau, and Taiwan.

  13. Figure 2. Global Glaucoma Eye Drops Market Value (US$ Mn) & Y-o-Y Growth (%), 2017-2027

  14. Glaucoma Eye Drops Market - Competitive Landscape • Key players operating in the glaucoma eye drops market are Merck & Co., Inc., Allergan Plc. Novartis AG. Teva Pharmaceutical Industry, Pfizer, Inc., Bausch & Lomb Inc., Inotek Pharmaceutical, Jadran-galenskilaboratorijd.d., Aerie Pharmaceutical, and Mylan N.V.

  15. Request sample copy here • Request PDF brochure here • Request Customization here • Talk to Analyst • Buy Now • Reference: • https://www.coherentmarketinsights.com/market-insight/glaucoma-eye-drops-market-3984

  16. About Us: • 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. • What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  17. Contact Us: • Mr. Shah • Coherent Market Insights Pvt. Ltd. • Address: 1001 4th ave, #3200 Seattle, WA 98154, U.S. • Phone: +1-206-701-6702 • Email :sales@coherentmarketinsights.com

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