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Government Initiatives To Raise Awareness About Eye Health Will Drive The Antiglaucoma Drugs Market Size

Antiglaucoma Drugs Market Report 2020-30: Covid 19 Impact And Recovery

Antiglaucoma Drugs Global Market Report 2020-30: Covid 19 Impact And Recovery

The Business Research Company’s Global Antiglaucoma Drugs Market Report 2020-30: Covid 19 Impact And Recovery

LONDON, GREATER LONDON, UK, October 14, 2020 / -- Incidence of glaucoma increases with age and due to increase in the geriatric population worldwide, governments are launching initiatives to promote awareness on glaucoma and other eye disorders. For instance, the Vision Health initiative by Centers for Disease Control and Prevention (CDC) in the USA aims to prevent eye disorders including glaucoma and improve overall eye health. In Australia, the government funded an eye screening program as part of its Vision 2020 initiative to promote awareness and prevent vision loss among the population suffering from glaucoma and other eye disorders. These government initiatives will stimulate the awareness among the people on glaucoma, thus driving the market for anti-glaucoma drugs.

The global antiglaucoma drugs market size is expected to decline from $6.6 billion in 2019 to $5.2 billion in 2020 at a compound annual growth rate (CAGR) of -21.3%. The decline is mainly due to the COVID-19 outbreak and the measures to contain it. COVID-19 pandemic is affecting industries across the globe including the pharmaceutical sector. The restrictions on non-essential medical services including ophthalmology services coupled with slowed production of drugs due to extended factory closures in various countries, shortage of APIs and other chemicals, and rise in prices of key ingredients are the key factors for this decline. The global antiglaucoma drugs market size is then expected to recover and grow at a CAGR of 5% from 2021 and reach $8 billion in 2023.

Companies in the antiglaucoma drugs market are developing combination therapies in the treatment of glaucoma disease due to their ability to lower intraocular pressure in glaucoma patients. Most of the combination therapies are fixed dose drugs as it offers patient the ease of consumption when compared to non-fixed combinations. In 2017, Alcon launched a combination drug, Simbrinza, which is fixed combination of Brinzolamide and Brimonidine, to help patients in reducing the intake of multiple drugs for glaucoma.

The antiglaucoma drug market consists of sales of antiglaucoma drugs which are used in the treatment of glaucoma. Glaucoma is a disease in which the optic nerve is damaged, resulting in irreversible loss of vision, and it is often associated with increased pressure of fluid in the eye. The market comprises of segments such as alpha agonists, beta blockers, prostaglandins, combined medication and others. The market does not include the sale of biologics used for the treatment of glaucoma.

The global antiglaucoma drugs market is segmented by product type into alpha agonist, beta blockers, prostaglandin analogs, combined medication, and others. By disease condition type, the market is segmented into open-angle glaucoma, angle-closure glaucoma, normal-tension glaucoma, congenital glaucoma, and other types of glaucoma. By type, it is segmented into hospital prescription drugs, and over-the counter drugs.

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