PUBLISHER: The Business Research Company | PRODUCT CODE: 1414454
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414454
“Ocular Hypertension Treatment Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on ocular hypertension treatment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for ocular hypertension treatment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The ocular hypertension treatment market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Ocular hypertension treatment encompasses strategies aimed at managing and lowering elevated intraocular pressure (IOP) in individuals diagnosed with this condition. This treatment is crucial for safeguarding the optic nerve, preserving visual function, and maintaining overall ocular health.
The primary categories of ocular hypertension treatment involve addressing intraocular pressure and managing glaucoma. Intraocular hypertension specifically denotes heightened pressure within the eye, particularly in the fluid-filled anterior chamber. These treatments are delivered through oral, parenteral, and various other administration routes, distributed across hospital pharmacies, retail outlets, online platforms, and similar channels. The key end-users of ocular hypertension treatment include hospitals, specialized clinics, and related establishments.
The ocular hypertension treatment market research report is one of a series of new reports from The Business Research Company 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.
The ocular hypertension treatment market size has grown steadily in recent years. It will grow from $5.14 billion in 2023 to $5.34 billion in 2024 at a compound annual growth rate (CAGR) of 3.7%. The expansion observed during the historical period can be credited to several factors such as a rise in the aging population, heightened occurrence of glaucoma, advancements in diagnostic technologies, increased awareness and accessibility to screenings, lifestyle shifts, and the ongoing trend of urbanization.
The ocular hypertension treatment market size is expected to see steady growth in the next few years. It will grow to $6.1 billion in 2028 at a compound annual growth rate (CAGR) of 3.4%. The anticipated growth in the forecasted period is expected to stem from the upward trajectory of global healthcare spending, continuous advancements in treatment methodologies, a heightened focus on personalized medicine, the integration and widespread adoption of telehealth services, and the increasing population of older adults. Notable trends projected in the forecast period encompass patient-centric approaches, the influence of regulatory landscapes, global market expansion, technological enhancements in monitoring devices, and the integration of artificial intelligence (AI).
The escalating prevalence of glaucoma is anticipated to drive the expansion of the ocular hypertension treatment market. Glaucoma, a chronic eye ailment leading to potential vision impairment and blindness by damaging the optic nerve, has a direct link to ocular hypertension, contributing to a cluster of eye conditions causing lasting visual impairment. Projections from the BrightFocus Foundation Highlights in October 2022 indicated that globally, 80 million individuals were affected by glaucoma, with estimates predicting a surge to over 111 million by 2040. This projected rise in glaucoma instances substantiates the growth of the ocular hypertension treatment market.
The growth of the aging demographic is poised to fuel advancements in the ocular hypertension treatment market. As populations age due to declining birth rates and extended life expectancy, ocular hypertension becomes more prevalent. Heightened intraocular pressure risk elevates with age, underscoring the significance of regular eye screenings for early detection and management. Forecasts from the ARC Centre of Excellence in Population Ageing Research suggest Australia's 65-and-above population could grow to 6.66 million by 2041 from an estimated 4.31 million in 2021, marking a 54% increase. This demographic shift substantiates the expansion of the ocular hypertension treatment market.
Innovation stands as a prominent trend propelling the ocular hypertension treatment market. Companies within this sector are actively embracing novel technologies to fortify their market standing. For instance, in April 2022, Sandoz, a Switzerland-based generics and biosimilars manufacturer, introduced the Brimonidine tartrate/timolol maleate ophthalmic solution. This eye drop combination, available in generic forms of 0.2% or 0.5%, effectively reduces eye pressure in individuals with ocular hypertension. Fixed medication combinations offer patients simplicity, improved compliance, reduced exposure to preservatives, and potential cost savings.
Notable players in the ocular hypertension treatment market are forging strategic partnerships and collaborations to fortify their market presence. These alliances, formed to achieve specific business objectives, are gaining prominence. For instance, in July 2022, AbbVie Inc., a US-based pharmaceutical firm, announced a strategic collaboration with iSTAR Medical SA, a Belgian clinical-stage medical technology company, to advance and commercialize the MINIject device. This minimally invasive glaucoma surgical (MIGS) device, designed to reduce intraocular pressure in primary open-angle glaucoma patients, expands AbbVie's eye care portfolio. The collaboration aims to expedite the development and market availability of the MINIject device, offering a novel treatment avenue for glaucoma patients.
In November 2022, Alcon, a pharmaceutical and medical device company headquartered in the US, completed the acquisition of Aerie Pharmaceuticals Inc., a clinical-stage pharmaceutical firm based in the US, for an undisclosed amount. This strategic acquisition significantly enhances Alcon's portfolio of commercial offerings and bolsters its developmental pipeline within the ocular hypertension treatment market.
Major companies operating in the ocular hypertension treatment market report are Angelini SpA, Laboratorios Sophia, Neurim Pharmaceuticals Ltd., Nicox SA, Novartis AG, AbbVie Inc., Alcon, Ocular Therapeutix Inc., Sylentis S.A, Taejoon Pharma Co. Ltd., Bausch Health Companies Inc., Merck & Co. Inc., Pfizer Inc., Teva Pharmaceutical Industries Ltd., Laboratorios Salvat SA, Shionogi & Co. Ltd., Otsuka Holdings Co. Ltd., Mitsubishi Tanabe Pharma Corporation, Astellas Pharma Inc., Eisai Co. Ltd., Daiichi Sankyo Company Limited, Celgene Corporation, Boehringer Ingelheim International GmbH, Eurofins Discover X Corporation, Novus Biologicals LLC, SK Bioscience Co., Regeneron Pharmaceuticals Inc., F. Hoffmann-La Roche AG, Sun Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited
North America was the largest region in the ocular hypertension treatment market in 2023. The regions covered in the ocular hypertension treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the ocular hypertension treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
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.
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.