LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global glaucoma therapeutics market to grow at a CAGR of close to 4% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global glaucoma therapeutics market for 2017-2021. The report segments the market based on drug class into prostaglandin analogs, beta blockers, an alpha agonist, and carbonic anhydrase inhibitor. Prostaglandin analogs are the most commonly prescribed drugs for glaucoma treatment and this segment held over 43% of the global glaucoma treatment market in 2016.
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global glaucoma therapeutics market:
- Increasing geriatric population leading to higher prevalence rate of glaucoma
- Advent of new innovative combination drugs
- Unmet need in glaucoma therapeutic market
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Increasing geriatric population leading to higher prevalence rate of glaucoma
The global geriatric population continues to grow at a faster pace due to many factors such as rapidly falling fertility rates and growing life expectancy due to better medical facilities. Many health problems are related to aging such as eye disorders and diabetes. Some of the major age-related eye disorders are age-related macular degeneration (AMD), cataract, diabetic eye disease, glaucoma, dry eye, and low vision.
“The prevalence of vision impairment and blindness rises rapidly with age. The rise in the aging population, both in developed and developing countries, has increased the potential for the growth of the global glaucoma therapeutics market. Asia is one of the most lucrative regions for the age-related disorders. However, Americas and the European region hold the major share in the market owing to high investment in the healthcare sector,” says Sapna Jha, a lead analyst at Technavio for infectious and rare diseases research.
Advent of new innovative combination drugs
The advent of new combination anti-glaucoma drugs has acted as a boon for both patients and physicians. About 40%-45 % of the glaucoma patients require a combination of two or more drugs to control the elevated IOP level. Using fixed combination instead to two different formulations results in enhanced patient’s compliance and at the same time reduces the number of instillations per day and simplifies medical regimen. These benefits associated with the combination therapies for glaucoma has acted as a major driver for the glaucoma therapeutics market.
The results from various clinical studies have shown that fixed combination therapies for glaucoma are therapeutically more effective as compared with individual therapeutic agents alone in lowering IOP. It is considered that fixed combination can be a better option for the patients who require more than one drug to control IOP. As a result, fixed combination drugs are considered as important aides to the armamentarium of therapies available for the treatment of glaucoma.
Unmet need in glaucoma therapeutic market
Over the past 20 years, no new drug class for glaucoma has entered into the market. Prostaglandin analogs are the most common drug class used for the treatment and management of glaucoma. Most of the drugs prescribed for glaucoma today focus on lowering the IOP. Only some drugs focus on lowering the pressure by helping the fluid to drain from the eye while other cause the eye to produce less fluid.
“Many R&D activities are under progress to provide better treatment opportunities and understand the genetic nature of the disease. These factors have led to the higher investment in the development of glaucoma treatment and is expected to drive the glaucoma therapeutics market during the forecasted period,” says Sapna.
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