Market Trends of Glaucoma Treatment Industry
This section covers the major market trends shaping the Glaucoma Treatment Market according to our research experts:
Prostaglandin Analogs is the Segment by Drug Class that is Expected to Witness Fastest Growth Over the Forecast Period
Prostaglandin analogs work by increasing the outflow of intraocular fluid from the eye. They have few systemic side effects but are associated with changes to the eye itself, including change in iris color and growth of eyelashes. Depending on the individual, one brand of this type of medication may be more effective and produce fewer side effects.
Prostaglandin analogs are taken as eye drops. They are effective at reducing intraocular pressure in people who have open-angle glaucoma. Latanoprost and some formulations of bimatoprost and travoprost are now available in generic form. Tafluprost is a preservative-free prostaglandin analog.
The demand for these drugs is expected to rise as the incidence of glaucoma has increased over the past few years due to the aging population. Moreover, the incidence of the disease is expected to increase in the future as the population aged 60 years and over are expected to increase from 12.7% in 2017 to 21.3% by 2050, as per a 2017 report by the United Nations. Increasing geriatric population is expected to increase the prevalence of glaucoma, as the disaese is more prevalent in the elderly. Hence the demand for Prostaglandin Analogs is also expected to increase, which will boost the market growth.
North America is Expected to Hold Largest Market Share over the Forecast Period
The United States is expected to be the largest glaucoma treatment market owing to the rising cases of glaucoma and the presence of better healthcare infrastructure. As per the data published by the BrightFocus Foundation more than 3 million Americans are living with glaucoma and open-angle glaucoma is the most common form of glaucoma.
Furthermore, glaucoma costs to the United States economy around USD 2.86 billion every year in direct costs and productivity losses. Also, there are various organizations in the United States creating awareness regarding glaucoma which is expected to propel the overall growth of the market.
