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Ocular Hypertension Treatment Global Market Report 2023
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Major players in the ocular hypertension treatment market are Angelini Spa, Laboratorios Sophia, Neurim Pharmaceuticals Ltd., Nicox SA, Novartis AG, AbbVie Inc., Alcon, Ocular Therapeutix Inc., Sylentis S.
New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.Com announces the release of the report "Ocular Hypertension Treatment Global Market Report 2023" - https://www.Reportlinker.Com/p06486642/?Utm_source=GNWA, Taejoon Pharm, Bausch Health Companies Inc., Merck & Co. Inc., Pfizer Inc., Teva Pharmaceutical Industries Ltd., and Laboratorios Salvat SA.
The global ocular hypertension treatment market is expected to grow from $4.94 billion in 2022 to $5.14 billion in 2023 at a compound annual growth rate (CAGR) of 4.03%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ocular hypertension treatment market is expected to reach $5.85 billion in 2027 at a CAGR of 3.27%.
The ocular hypertension treatment market includes revenues earned by entities by providing carbonic anhydrase inhibitors, prostaglandins, and beta-blockers that are used to treat ocular hypertension.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Ocular hypertension treatment refers to the treatment methods used to control and reduce high pressure inside eye or increased intraocular pressure (IOP) in people who have been diagnosed with ocular hypertension. This treatment is frequently used for optic nerve protection, visual function maintenance, and overall eye health.
North America was the largest region in the ocular hypertension treatment market in 2022. The regions covered in the ocular hypertension treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of ocular hypertension treatment are intraocular hypertension and glaucoma.Intraocular hypertension is a condition marked by increased pressure within the eye, notably in the fluid-filled region known as the anterior chamber.
The ocular hypertension treatment is administered via oral, parenteral, and other routes and they are distributed through hospital pharmacies, retail pharmacies, online pharmacies, and others. The end-users of ocular hypertension treatment include hospitals, specialty clinics, and others.
The increasing prevalence of glaucoma disease is expected to propel the growth of the ocular hypertension treatment market going forward.Glaucoma is a chronic eye disease that can cause vision loss and blindness by destroying the optic nerve in the back of the eye.
Ocular hypertension, or high intraocular pressure, is connected to the development and progression of glaucoma, a group of eye diseases that can result in permanent visual loss.A rise in glaucoma disease is indeed expected to have a positive impact on the growth of the ocular hypertension treatment market.
For instance, in October 2022, according to BrightFocus Foundation Highlights, a US-based non-profit organization, glaucoma affected 80 million individuals globally, and this figure is anticipated to rise to more than 111 million by 2040. Therefore, the increasing prevalence of glaucoma disease is driving the growth of the ocular hypertension treatment market.
Product innovation is a key trend gaining popularity in the ocular hypertension treatment market.Companies operating in the ocular hypertension treatment market are adopting new technologies to sustain their position in the market.
For instance, in April 2022, Sandoz, a Switzerland-based manufacturer of generic medicines and biosimilar, launched Brimonidine tartrate/timolol maleate ophthalmic solution. Its generic combination of eye drop brimonidine tartrate/timolol maleate ophthalmic solution 0.2% or 0.5% reduces the pressure in the eyes in ocular individuals with hypertension. Fixed combinations of medications to treat ocular hypertension can provide patients with increased simplicity, higher compliance, lower preservation exposure, as well as price savings.
In November 2022, Alcon, a US-based pharmaceutical and medical device company, acquired Aerie Pharmaceuticals Inc., for an undisclosed sum. This acquisition broadens, diversifies, and enriches Alcon's portfolio of commercial products and development pipeline. Aerie Pharmaceuticals Inc. Is a US-based clinical-stage pharmaceutical company that operates in the ocular hypertension treatment market.
The countries covered in the ocular hypertension treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The ocular hypertension treatment market research report is one of a series of new reports that provides ocular hypertension treatment market statistics, including the ocular hypertension treatment industry's global market size, regional shares, competitors with an ocular hypertension treatment market share, detailed ocular hypertension treatment market segments, market trends, and opportunities, and any further data you may need to thrive in the ocular hypertension treatment industry. This ocular hypertension treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.Read the full report: https://www.Reportlinker.Com/p06486642/?Utm_source=GNW
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Ocular Hypertension Treatment Market It Would Grow Upto USD 6.5 Billion By 2030
Data Bridge Market research has a newly released expansive study titled "Ocular Hypertension Treatment Market" which guarantees you will remain better informed than your competition. This study provides a broader perspective of the marketplace with its comprehensive market insights and analysis which eases survival and success in the market.
Data Bridge Market Research analyses a growth rate in the global ocular hypertension treatment market in the forecast period 2023-2030. The expected CAGR of global ocular hypertension treatment market is tend to be around 3% in the mentioned forecast period. The market was valued at USD 5.13 billion in 2022, and it would grow upto USD 6.5 billion by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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As per the records of October 2021, World Health Organization on blindness and vision impairment, it is projected that nearly 2.2 billion people face distance or near vision impairment disorders. Eye-related disorders have appeared as a possible potential threat to the populations in all middle-income and industrialized countries. The top causes of vision impairment include uncorrected refractive errors, age-related macular degeneration, cataract, and many others.
Market Overview:
Ocular hypertension happens when the eye's pressure (intraocular pressure or IOP) becomes higher than average. It instigates increased eye strain. Glaucoma may be caused by increased pressure than the normal eye pressure. Glaucoma is a type of condition in which eye pressure affects the optic nerve and leads to loss of vision. However, ocular hypertension is not similar to glaucoma. In this condition, the optic nerve looks normal and there are no signs of vision loss. Although, many people having ocular hypertension are at increased risk for glaucoma and are considered "glaucoma suspects."
Drivers
The global ocular hypertension treatment market is projected to witness a heavy growth rate during the forecast period driven by the factor of an aging population. The growing demand in the global ocular hypertension treatment market is the replication of the rising elderly population, as people aged over 60 years normally develop conditions wherein the eyes have reduced elasticity, affecting the normal functioning. This boost the market growth.
Increasing technological advancements associated with the ocular hypertension treatment and diagnostics are boosting the growth of the market. Technologies such as medical imaging, selective laser trabeculoplasty (SLT), visual fields, micro-invasive glaucoma surgery (MIGS), optical coherence tomography (OCT), and progression analysis software will increase patient preference. Moreover, the market size will increase if laser therapies are combined with medications to treat glaucoma as the first-line therapy. This boosts the market growth
Opportunities
The strategic initiatives that major key players undertake is projected to increase the market growth. For instance, in June 2022, Novartis Pharmaceuticals Corporation announced the acquisition of Kedalion Therapeutics for its novel AcuStream technology. This acquisition pushed Novartis to boost its ophthalmic product portfolio. In addition to this, in June 2022 Amring Pharmaceuticals Inc. Announced that its generic Timolol Maleate Ophthalmic Solution has received approval from the U.S FDA. Timolol Maleate Ophthalmic Solution is a preservative-free solution and is recommended in the treatment of open-angle glaucoma and ocular hypertension.
Key players operating in the global ocular hypertension treatment market include:
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Ocular Hypertension Treatment Market Scope
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Route of Administration
Drug Type
End User
Distribution Channel
The report provides insights on the following pointers:
Critical Insights Related to This Market Included in the Report:
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