The global glaucoma treatment market is expected to reach US$ 7.78 Bn in 2032, with a steady rate of 3.2% during the forecast period.
According to Future Market Insights (FMI), the glaucoma treatment market is forecasted to reach a net worth of US$ 7.6 Bn in 2032 from US$ 5.5 Bn in 2021 by registering a moderate CAGR of 3%.
With the increasing proportion of the geriatric population in different geographic regions, glaucoma has emerged as a prevalent ailment.
Though there are some instances of successful glaucoma treatment in homeopathy, drugs and surgery are the prominent methods adopted by healthcare institutes. The requirement for various combinations of drugs has provided the necessary traction for the growth of the global glaucoma treatment market in recent years.
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During the Covid-19 pandemic years, the global glaucoma treatment market experienced a slowdown in market expansion and revenue generation, giving some way for a natural cure for glaucoma available in the locality. However, with the subsidence of Covid-19 cases, non-emergency medical services are pacing up with sufficient opportunities for growth of the glaucoma treatment market.
Higher demand for advanced surgical procedures supported by superior drug combinations for glaucoma remedies will propel the market growth for glaucoma treatment in the Asia Pacific, Latin America and the Middle East and Africa (MEA) countries during the forecast years.
“The growing concern for the maintenance of eye health has increased demand for glaucoma and eye pressure treatment services worldwide. This increase in demand is fuelling the further technological advancements for the best treatment for glaucoma, opening up new opportunities for glaucoma treatment market expansion.”—opines an FMI analyst.
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Key Takeaways
Competitive Landscape
Major global glaucoma treatment market players include Cilla Inc., Akorn Operating Company LLC, Abb Vie, Bausch & Lomb Incorporated, Inotek Pharmaceuticals, Merck & Co., Inc., Novartis AG, Pfizer Inc., and Santen Pharmaceutical Co., Ltd.
Most of the major players are more focused on investing in research and testing for the development of new drug combinations for providing better options than natural remedies for glaucoma.
Analogs and eye drops for glaucoma are some of the major products for glaucoma drug manufacturers generating the highest revenue from the market. Following the strict regulations set by healthcare sectors in different parts of the world can hamper the pace of business expansion of most of the players operating in the glaucoma treatment market.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Nov 01, 2022