Riding on Strong Pipeline of Combination Drugs, Global Glaucoma Therapeutics Market to Register Strong Growth
Glaucoma is a widespread condition, affecting millions around the world. According to the World Health Organization (WHO), it is the second most common cause of blindness after cataract. Glaucoma in general occurs as an after-effect of increased intraocular pressure (IOP) caused due to the malfunctioning or abnormality of the eye drainage system. A majority of treatments are targeted to either lower or control the intraocular pressure to prevent damage to the optic nerve that transmits visual stimuli to the brain.
Q: What leads to high demand for glaucoma therapeutics?
A: Currently over three million people in the U.S. alone are detected with glaucoma, states the American Association of Ophthalmology. The likelihood of the incidence to decline any time soon is meek, with the condition getting more common among the aging demography. The increasing geriatric population has thus become a chief factor accelerating the demand for effective glaucoma therapeutics across developed and developing nations alike. Despite its high prevalence, the treatment of glaucoma is possible by medical intervention at an early stage.
Riding on the aforementioned factors, the global glaucoma therapeutics market is projected to exhibit a moderate yet steady CAGR of 3.4% between 2016 and 2024. The market is thus expected to reach US$7.6 bn before 2024 ends, from a valuation of US$5.7 bn in 2015.
Supported by a considerable rise in awareness regarding glaucoma and the treatment available, the increasing demand for combination glaucoma drugs, and favorable insurance coverage, the market is poised to grow at an exponential pace. Besides this, the increasing geriatric population, healthcare spending, and the development of novel therapeutics are the primary drivers of the global glaucoma market.
Q: What opportunities exist for the market in strong pipeline of combination drugs?
A: While some experiments are underway to explore novel ways of controlling IOP, treatments are available to protect optic nerve thus preventing potential vision loss, eye damage, or even blindness. Several ongoing clinical trials are aimed at finding neuroprotective agents that could protect optic nerve and certain retinal cells commonly affected in glaucoma and decrease the progression of the disease.
For instance, researchers at the Queen’s University Belfast and the University of St Andrews and Aberdeen have collaborated to find the best treatment for glaucoma. Their efforts have resulted in the innovation of novel procedure to remove cataracts more successfully than the current treatment with laser, which often becomes a primary factor spurring the incidence of irreversible blindness worldwide.
The glaucoma therapeutics market thus gains considerable leverage from the strong pipeline of combination drugs aimed at the treatment of glaucoma. For instance, Aerie Pharmaceuticals boasts a strong pipeline o combination such as norepinephrine transport inhibitor (NETi) and Rho Kinase Inhibitor (ROCKi), which once approved could fuel prospects for the market’s expansion around the world.