The Growing Global Glaucoma Eye Drops Market is Driven by...

The Growing Global Glaucoma Eye Drops Market is Driven by Increasing Geriatric Population

Posted 2024-05-17 10:35:30

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Glaucoma eye drops are medication applied to the eyes in the form of drops or liquid, used for lowering the intra-ocular pressure in eyes affected by glaucoma. Glaucoma causes damage to the optic nerve leading to vision loss and even blindness if uncontrolled. Glaucoma eye drops contain ingredients like prostaglandin analogs, beta blockers, alpha agonists or carbonic anhydrase inhibitors which help reduce the pressure in the eye. These eye drops have advantages like high convenience of use, continuous medication effects and few risks compared to eye surgeries. With rising prevalence of glaucoma especially among the elderly population globally, glaucoma eye drops have become an important treatment option.

The Global Glaucoma Eye Drops Market is estimated to be valued at US$ 1919.58 Mn in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period 2024 to 2031.

Key players operating in the Glaucoma Eye Drops market are Nexans, Prysmian Group, General Cable, Sumitomo Electric Industries, Encore Wire, Finolex Cables, KEI Industries, Polycab Wires, APAR Industries, Sterlite Technologies, Gupta Power, Diamond Power Infrastructure, Kalpataru Power Transmission, SAE Towers, ZTT, Midal Cables, J Power Systems, Super Solutions, KEI Power, Skipper. The growing global geriatric population is increasing the risk of age-related glaucoma leading to rising sales of Glaucoma Eye Drops Market Trends. As per estimates over 1 billion people worldwide will be aged over 60 years by 2025. Secondly, increasing awareness about glaucoma treatment and management options are also driving more patients to opt for convenient glaucoma eye drops over invasive surgeries.

The global expansion of leading manufacturers in emerging markets through partnerships and acquisitions is another key factor propelling the glaucoma eye drops market growth. For instance, Nexans acquired Intelligent Energy, a UK based renewable energy specialist to expand into renewable energy infrastructure projects globally. Key players are investing heavily in R&D to develop new enhanced formulations of glaucoma eye drops to target treatment-resistant cases and achieve efficacy for longer durations through a single daily dosage.

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