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The global glaucoma therapeutics market size is projected to reach USD 11.05 billion by 2027. The rising cases of glaucoma, especially among the aging population because of the surging screen time of laptops & smartphones would affect growth positively. This information is given by Fortune Business Insights™ in a new report, titled, “Glaucoma Therapeutics Market Size, Share & COVID-19 Impact Analysis, By Drug Class (Beta Blockers, Prostaglandins Analogs, Alpha Adrenergic Agonists, Carbonic Anhydrase Inhibitors, Combination Drugs, and Others), By Disease Indication (Open Angle Glaucoma, Angle Closure Glaucoma, and Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and Regional Forecast, 2020-2027.” The report further mentions that the market stood at USD 6.59 billion in 2019. However, it is set to exhibit a CAGR of 6.1% during the forecast period between 2020 to 2027.
AbbVie Completes Acquisition of Allergan to Expand its Leading Position
In May 2020, AbbVie Inc., a biopharmaceutical company headquartered in the U.S. declared the completion of acquisition of Allergan, a pharmaceutical company based in Ireland. The recent transaction would diversify and broaden the former’s revenue base. At the same time, it would complement its existing leading position in the market. Besides, it would provide immediate and scale AbbVie's growth platform.
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Increasing Number of Pipeline Products under Development to Spur Growth
As of 2020, the clinicaltrials.gov website shows that at present, around 70 ongoing studies associated with glaucoma therapeutics exist. It proves that there are similar other pipeline products for the treatment of this condition that are currently under the development stage. Apart from that, the emergence of the COVID-19 pandemic has raised the demand for glaucoma therapeutics across the globe as several government healthcare facilities have postponed all the surgeries related to this condition. Hence, people are on a rat race to stock up medications to delay the progression of glaucoma.
However, several regulatory recall cases of such products are generating fear and skepticism among the patient and healthcare professionals. This factor may hamper the glaucoma therapeutics market growth in the forthcoming years.
Key Players Engage in Acquisitions & Collaborations to Gain Competitive Edge
The market consists of several companies. Out of those, Allergan and Novartis AG are in the dominant positions. They are growing rapidly owing to their engagement in mergers and partnerships, as well as new product developments. Some of the other players are focusing on the distribution and manufacturing of glaucoma therapeutics products to gain a competitive edge.
Fortune Business Insights™ lists out the names of all the reputed glaucoma therapeutics providers operating in the global market. They are as follows:
A Notable Industry Development-
Further Report Findings-
The global market can be segmented in the following way:
Value (USD Billion)
By Drug Class
By Disease Indication
By Distribution Channel