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Glaucoma is a disease of eye which is caused by excessive increase of fluid pressure within the eye. Glaucoma is caused due to mechanical compression or decreased blood flow in the optic nerve of the patient’s eye. If not treated properly, it may lead to mild loss of vision and even blindness. Treatment of glaucoma includes laser therapies, pharmaceutical drugs and surgical procedures.
Ocular hypertension is one of the major causes due to which glaucoma occurs in patients. Glaucoma mostly occurs at the age over 40, but it may also occur in children, young adults, and infants. Diagnosis of glaucoma can be done through a simple eye examination with the help of tonometry, an instrument used for measuring intraocular pressure, by an ophthalmologists and optometrist. Prevention of glaucoma is difficult; however, if diagnosed and treated at an early stage, the disease can be controlled by using eye drops prescribed by doctor, microsurgery or by laser surgery. Glaucoma can damage the vision of the affected eye permanently; in first stage it decreases the peripheral vision and if not treated, it can lead to blindness.
The global glaucoma therapeutics market can be divided into two types based on the factor that the disease is known or not. A known disease called as open angle and the not known disease is closed angle glaucoma. Open angle glaucoma is painless and tends to develop slowly over time, with no symptoms until the disease progress to a considerable extent. Whereas, closed angle glaucoma is characterized by redness in eye, sudden eye pain, vomiting and various other symptoms and it should be treated immediately. On the basis of treatment used to cure the disease, the global glaucoma therapeutics market can be categorized as beta blockers, prostaglandins, carbonic anhydrase inhibitors, alpha adrenergic agonists, and fixed dose combinations.
Increase in awareness of glaucoma, medicare coverage of glaucoma patients and demand for combination glaucoma drugs are some of the major trends that can be seen in global glaucoma therapeutics market.
Some of the major factors driving the growth of glaucoma therapeutics market are aging population of developed countries, development of advanced glaucoma drug delivery devices and rising global healthcare expenditures. Stringent government regulation and marketing approval, side effects of glaucoma medications and long development process of the glaucoma products are some of the major factors restraining the growth of global glaucoma therapeutics market.
North America was the largest glaucoma therapeutics market in 2014, attributed to high per capita expenditure on healthcare in this region. It is followed by Europe and Asia-Pacific. Asia-Pacific region is also the fastest growing glaucoma therapeutics market, owing to the aging population of Japan coupled with the increasing healthcare expenditure of developing countries, such as India and China. Asia-Pacific glaucoma therapeutics market is further expected to witness growth and surpass North America market in terms of largest market during the coming years.
Some of the major competitors in global glaucoma therapeutics market are Pfizer Inc., Allergen Inc., Novartis A.G., Merck & Co. Inc., Aerie Pharmaceuticals Inc., Inotek Pharmaceuticals Corp., Carl Zeiss Meditec Inc., Acadia Pharmaceuticals Inc., Neurotech Pharmaceuticals Inc., NicOx SA, Santen Pharmaceuticals Co. Ltd., Otsuka Holdings Co. Ltd., SIFI SpA, and Valeant Pharmaceuticals International Inc.