Global Antiglaucoma Drugs Market Report 2020: $10.76 Billion Opportunities and Strategies to 2030 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Antiglaucoma Drugs Global Market Opportunities and Strategies to 2030: COVID-19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.
This report describes and evaluates the global antiglaucoma drugs market. It covers 2015 to 2019, termed the historic period, and 2019 to 2023 termed the forecast period, along with further forecasts for the periods 2023-2025 and 2025-2030.
The global antiglaucoma drugs market reached a value of nearly $6,591.8 million in 2019, having increased at a compound annual growth rate (CAGR) of 4.2% since 2015. The market is expected to decline from $6,591.8 million in 2019 to $5,191.2 million in 2020 at a rate of -21.2%.
The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 5.0% to $6,659.2 million in 2021 and reach $ 7,345.6 million in 2023 at a CAGR of 2.7%. The market is expected to reach $8,089.0 million in 2025 at a CAGR of 4.9% and $10,767.9 million in 2030 at a CAGR of 5.9%.
Growth in the historic period resulted from increase in research and development expenditure, aging population and increase in healthcare expenditure. Factors that negatively affected growth in the historic period were low healthcare access and awareness. Going forward, increase in prevalence of glaucoma and increasing geriatric population will drive the growth. Factors that could hinder the growth of the antiglaucoma drugs market include high cost of drugs and costly drug approvals.
The antiglaucoma drugs market is segmented by product type into alpha agonist, beta blockers, prostaglandin analogs, combination medication and others. The prostaglandin analogs market was the largest segment of the antiglaucoma drugs market segmented by product type, accounting for 40.8% of the total in 2019. Going forward, the alpha agonist segment is expected to be the fastest growing segment in the antiglaucoma drugs market segmented by product type, at a CAGR of 2.8% during 2019-2023.
The antiglaucoma drugs market is also segmented by disease condition type into open-angle glaucoma, angle-closure glaucoma, normal-tension glaucoma, congenital glaucoma and other types of glaucoma. The open-angle glaucoma market was the largest segment of the antiglaucoma drugs market segmented by condition type, accounting for 64.3% of the total in 2019. Going forward, the angle-closure glaucoma segment is expected to be the fastest growing segment in the antiglaucoma drugs market segmented by condition type, at a CAGR of 3.6% during 2019-2023.
The antiglaucoma drugs market is also segmented by prescription type into OTC drugs and prescription drugs. The prescription drugs market was the largest segment of the antiglaucoma drugs market segmented by prescription type, accounting for 70.9% of the total in 2019. OCT drugs market segment is expected to be the fastest growing segment in the antiglaucoma drugs market segmented by prescription type, at a CAGR of 10.7% during 2019-2023.
The global antiglaucoma drugs market is concentrated, with few big players in the market. The top eight competitors in the market made up to 44% of the total market in 2019. Major players in the market include Allergen Plc, Novartis AG, Santen Pharmaceuticals Co, Ltd., Akorn and Pfizer.
Key Topics Covered:
1. Antiglaucoma Drugs Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
7. Antiglaucoma Drugs Market Characteristics
8. Antiglaucoma Drugs Market Trends and Strategies
9. COVID-19 Impact On The Antiglaucoma Drugs Market
10. Global Antiglaucoma Drugs Market Size and Growth
11. Global Antiglaucoma Drugs Market Segmentation
12. Antiglaucoma Drugs Market, Regional and Country Analysis
- Allergen Plc
- Novartis AG
- Santen Pharmaceutical Co., Ltd.
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