The global glaucoma therapeutics market will grow by $1.9 billion between 2015 and 2024, but hospitals will dominate the market in that time period, a Transparency Market Research report predicts. Here are five insights:
1. Growth of the market is stimulated by increases in glaucoma cases, demand for glaucoma drugs, the geriatric population and healthcare expenditure.
2. Strict government regulations on marketing and approvals and medication side effects could stunt market growth.
3. Hospitals hold a large market share driven by patient preference, due to comparatively lower costs for therapies.
4. North America and Europe held 75 percent of the market share in 2015. Strong market growth anticipated for North America can be attributed, in part, to patients' heightened awareness about glaucoma and favorable reimbursement policies.
5. Key companies include Allergan, Aristo Pharmaceuticals, Merck & Co. and Fera Pharmaceuticals. These companies contribute to a strong drugs pipeline for glaucoma therapeutics, which promotes market growth.