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Glaucoma Treatment and Therapeutics Market Projected to Have Strong Growth Rate Through 2028
PALM BEACH, Florida, May 7, 2019 /PRNewswire/ -- The patient demand for a better way to treat to glaucoma has been growing for years. Two recent reports from Transparency Market Research show that this growing worldwide consumer demand projects ever increasing revenues for both the Treatment and Therapeutic markets and for hope for the consumers for a better solution. The reports said: "A new exhaustive report collated by Transparency Market Research envisages an average growth for the global glaucoma treatment market in the period between 2017 and 2026. More than US$ 3,300 revenues are expected to be gained from treatment of glaucoma across the globe by 2026-end… (and) The global glaucoma therapeutics market was valued at US$ 5,932.6 Mn in 2017 is anticipated to reach US$ 7,659.8 Mn by 2026, expanding at a CAGR of 2.9% from 2018 to 2026. Increase in prevalence and incidence of diabetic disorders, rise in geriatric population, improved health care as well as health care infrastructure, introduction of combination therapies, and surge in the number of awareness programs are likely to drive the global glaucoma therapeutics market during the forecast period." The reports continued saying that: "North America to Remain Leading Revenue Contributor to Global Glaucoma Treatment Market… Incidences of glaucoma in North American countries are rising significantly, with the surge in older population in the region, thereby creating high demand for glaucoma drugs... In addition, the economic vigour and enormous investments in healthcare sector in North America have meant that the region will remain the leading revenue contributor to the global glaucoma treatment market." Active Healthcare companies in the markets this week include: Guardion Health Sciences, Inc. (NASDAQ: GHSI), Boston Scientific Corporation (NYSE: BSX), Ocular Therapeutix, Inc. (NASDAQ: OCUL), Bausch Health Companies Inc. (NYSE: BHC) (TSX: BHC.TO), Allergan plc (NYSE: AGN).
The report on the therapeutics marked confirmed: "In terms of end-user, the hospitals segment captured major share of the global glaucoma therapeutics market in 2017. The segment is likely to sustain its leadership position during the forecast period. A large population prefers visiting hospitals first rather than specialty clinics for treatment, as the cost of therapy at hospitals is lower. Ambulatory surgical center is the less preferred option for the treatment of glaucoma. North America and Europe accounted for a combined market share of 50.2% in 2017. North America is projected to continue to dominate the market during the forecast period due to increase in the geriatric population, rise in awareness among the population about glaucoma, availability of reimbursements, and well-established health care infrastructure. The market in Asia Pacific is expected to expand at a high CAGR during the forecast period."
Guardion Health Sciences, Inc. (NASDAQ: GHSI) BREAKING NEWS: Guardion Health Sciences, an ocular health sciences and technologies company that develops, formulates and distributes condition-specific medical foods and testing technologies supported by evidence-based protocols, today announced the results of a study from research scientists at the University of Texas, San Antonio (USTA), Texas, on the effects of the Company's Lumega-Z medical food on pericentral FDT (i.e. tests of visual field) among patients with severe glaucoma who had previously shown degeneration despite having controlled intraocular pressure.
Dr. David Evans, Ph.D., Guardion's Chief Science Officer, commenting on the results of the study, stated, "Patients with advanced glaucoma often have no hope for maintaining their vision. This new data, presented by Dr. William E. Sponsel, at ARVO, shows that certain patients with advanced stages of glaucoma treated with Lumega-Z can preserve and even recover some vision function. This is an important development in the treatment of patients with advanced glaucoma."
Dr. William E. Sponsel, M.D., M.B., Ch.B, F.R.A.N.Z.C.O, F.A.C.S., is a member of Guardion's Science Advisory Board. Dr. Sponsel established the Glaucoma Research and Diagnostic Laboratory at Indiana University in 1991, and was later recruited to the University of Texas Health Science Center at San Antonio in 1994, where he became Professor and Director of Clinical Research. He is presently Professor of Vision Sciences at University of Incarnate Word and Adjunct Professor of Biomedical Engineering at UTSA. Read this and more news for Guardion Health at: https://www.financialnewsmedia.com/news-ghsi/
Other recent developments in the healthcare, biotech industries:
Boston Scientific Corporation (NYSE: BSX) recently announced that the U.S Food and Drug Administration (FDA) has approved the VICI VENOUS STENT™System for the treatment of iliofemoral venous obstructive disease, which occurs when the flow of blood through the veins located deep in the pelvic region becomes blocked by a blood clot or compressed by anatomical anomalies.
Venous obstructive disease affects nearly 40 percent of the population in the U.S. and can be caused by conditions such as deep vein thrombosis (DVT), post-thrombotic syndrome (PTS) and compressive diseases such as May-Thurner syndrome. In patients with venous obstructions, blood may pool in the legs, resulting in pain, swelling and skin ulcers.
Ocular Therapeutix, Inc. (NASDAQ: OCUL) a biopharmaceutical company focused on the formulation, development, and commercialization of innovative therapies for diseases and conditions of the eye, recently announced that the Centers for Medicare and Medicaid Services (CMS) has included DEXTENZA® (dexamethasone ophthalmic insert) 0.4mg for intracanalicular use on its list of products that have been preliminarily recommended for a new dedicated Healthcare Common Procedure Coding System (HCPCS) J-code, effective January 1, 2020.
A J-Code is a permanent product code established by CMS for the Prospective Payment System used to report drugs that ordinarily cannot be self-administered. J-codes are familiar to both medical practices and their billing staffs, as well as Medicare (Part B and Part C) and commercial insurers. As a result, J-codes allow for a simpler and more convenient reimbursement process. The Company believes that receipt of a J-code will facilitate reimbursement for a greater number of patients to be treated with DEXTENZA.
Bausch Health Companies Inc. (NYSE: BHC) (TSX: BHC.TO) recently announced that it is off to a strong start in 2019 with the continued growth of XIFAXAN® which grew 11% in the quarter, the launch of BRYHALI™, the successful acquisition of TRULANCE®, and the approval of DUOBRII™ and expected launch in June. We believe that our promising pipeline and focus on Project CORE (cost optimization and revenue enhancements) has positioned the Company to build on our growth in 2019 and beyond. Strong operational execution is leading us to raise our full-year 2019 revenue and adjusted EBITDA (non-GAAP)1 guidance," said Joseph C. Papa, chairman and CEO, Bausch Health.
Allergan plc (NYSE: AGN) a leading global pharmaceutical company with a heritage of more than 70 years in eye care, presented new data for its investigational implant, Bimatoprost SR, and a late-breaking analysis on its subconjunctival gelatin implant, XEN Gel Stent, at the American Society of Cataract and Refractive Surgery (ASCRS) Annual Meeting to be held in San Diego, California from May 3rd – 7th. During a podium session on Sunday, May 5th, Allergan presented an analysis exploring the treatment duration of Bimatoprost SR and a separate presentation on the biodegradation data from a Phase 1/2 study. These presentations follow data that was presented at the most recent Association for Research in Vision and Ophthalmology (ARVO) Annual Meeting.
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