Feb 5, 2021   SOURCE: PR NewsWire

Global Antiglaucoma Drugs Market Report 2020: COVID-19 Impact and Recovery - Forecast to 2023, 2025 & 2030

DUBLIN, Feb. 5, 2021 /PRNewswire/ -- The "Antiglaucoma Drugs Global Market Opportunities and Strategies to 2030: COVID-19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.

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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.

North America was the largest region in the global antiglaucoma drugs market, accounting for 48.1% of the total in 2019. It was followed by Asia-Pacific and Western Europe, and then the other regions. Going forward, the fastest-growing regions in the antiglaucoma drugs market will be Asia Pacific and South America where growth will be at CAGRs of 5.9% and 2.5% respectively. These will be followed by North America and Africa, where the markets are expected to grow at CAGRs of 1.9% and 1.2% respectively.

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.

The top opportunities in the antiglaucoma drugs market segmented by product type will arise in the prostaglandin analog market segment, which will gain $308.8 million of global annual sales by 2023. The top opportunities in the antiglaucoma drugs market segmented by disease condition type will arise in the open-angle glaucoma segment, which will gain $570.2 million of global annual sales by 2023. The top opportunities in the antiglaucoma drugs market segmented by prescription type will arise in the OTC drugs market segment, which will gain $962.5 million of global annual sales by 2023.

The antiglaucoma drugs market size will gain the most in USA at $344.8 million. Market-trend-based strategies for the antiglaucoma drugs market include focus on development of rho kinase inhibitors for glaucoma treatment, development of combination therapies and investments in artificial intelligence. Player-adopted strategies in the antiglaucoma drugs market include expanding through strategic acquisitions and collaboration and focusing on development and launch of new drugs.

To take advantage of the opportunities, the publisher recommends the antiglaucoma drugs companies to focus on a new class of medications, focus on research & development, focus on combination medications, provide competitively priced offerings, expand in emerging markets, focus on promoting affordable and effective products efficiently, and leverage e-commerce tools to maximize reach.

Key Topics Covered:

1. Antiglaucoma Drugs Market Executive Summary

2. Table of Contents

3. List of Figures

4. List of Tables

5. Report Structure

6. Introduction
6.1.1. Segmentation by Geography
6.1.2. Segmentation by Product Type
6.1.3. Segmentation by Condition Type
6.1.4. Segmentation by Prescription Type

7. Antiglaucoma Drugs Market Characteristics
7.1. Market Definition
7.2. Market Segmentation by Product Type
7.2.1. Alpha Agonist
7.2.2. Beta Blockers
7.2.3. Prostaglandin Analogs
7.2.4. Combined Medication
7.2.5. Others
7.3. Market Segmentation by Disease Condition Type
7.3.1. Open-Angle Glaucoma
7.3.2. Angle-Closure Glaucoma
7.3.3. Normal-Tension Glaucoma
7.3.4. Congenital Glaucoma
7.3.5. Other Types of Glaucoma
7.4. Market Segmentation by Prescription Type
7.4.1. OTC Drugs
7.4.2. Prescription Drugs

8. Antiglaucoma Drugs Market Trends and Strategies
8.1. Rho-Kinase Inhibitors in Glaucoma Treatment
8.2. Development of Combination Therapies
8.3. Investment in Anti-Glaucoma Drugs With Sustained Delivery
8.4. Investment in Artificial Intelligence For Anti-Glaucoma Drugs

9. COVID-19 Impact On The Antiglaucoma Drugs Market
9.1. Introduction
9.2. Consumer Perception
9.3. Healthcare Providers Shifting Towards Telehealth Services

10. Global Antiglaucoma Drugs Market Size and Growth
10.1. Market Size
10.2. Historic Market Growth, 2015-2019, Value ($ Million)
10.2.1. Drivers of The Market 2015-2019
10.2.2. Aging Population
10.2.3. Restraints of The Market 2015-2019
10.3. Forecast Market Growth, 2019-2023, 2025F, 2030F Value ($ Million)
10.3.1. Drivers of The Market 2019-2023
10.3.2. Restraints On The Market 2019-2023

11. Global Antiglaucoma Drugs Market Segmentation
11.1. Global Antiglaucoma Drugs Market, Segmentation by Disease Condition Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, Value ($ Million)
11.1.1. Open-Angle Glaucoma
11.1.2. Angle-Closure Glaucoma
11.1.3. Normal-Tension Glaucoma
11.1.4. Other Types of Glaucoma
11.1.5. Congenital Glaucoma
11.2. Global Antiglaucoma Drugs Market, Segmentation by Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, Value ($ Million)
11.2.1. Prostaglandin Analogs
11.2.2. Combined Medication
11.2.3. Others
11.2.4. Beta Blockers
11.2.5. Alpha Agonist
11.3. Global Antiglaucoma Drugs Market, Segmentation by Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, Value ($ Million)
11.3.1. Prescription Drugs
11.3.2. OTC Drugs

12. Antiglaucoma Drugs Market, Regional and Country Analysis
12.1. Global Antiglaucoma Drugs Market, by Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, Value ($ Million)
12.2. Global Antiglaucoma Drugs Market, by Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, Value ($ Million)

Companies Mentioned 

    --  Allergen Plc.
    --  Novartis AG
    --  Santen Pharmaceutical Co., Ltd.
    --  Akorn
    --  Pfizer

For more information about this report visit https://www.researchandmarkets.com/r/ef9m8r

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