Acetazolamide Market

Global Acetazolamide Market Is Estimated To Witness High Growth Owing To Increasing Geriatric Population and Growing Prevalence of Glaucoma

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The global Acetazolamide market is estimated to be valued at US$ 183.2 Mn in 2017 and is expected to exhibit a CAGR of 4.8% over the forecast period 2018 – 2026, according to a new report published by Coherent Market Insights.

A) Market Overview:

Acetazolamide is a carbonic anhydrase inhibitor medication used for the treatment of various medical conditions such as glaucoma, epilepsy, and acute mountain sickness. It works by reducing the activity of carbonic anhydrase enzyme in the body, which helps in reducing the production of cerebrospinal fluid and intraocular pressure. Acetazolamide is available in tablet and intravenous injection forms, and it is widely used in hospitals and clinics for the treatment of the aforementioned conditions.

B) Market Dynamics:

The global Acetazolamide Market is driven by two major factors: increasing geriatric population and growing prevalence of glaucoma.

1. Increasing geriatric population: The global population is aging rapidly, leading to an increase in the number of elderly individuals who are more prone to various chronic illnesses. Acetazolamide is commonly prescribed to elderly patients for the treatment of glaucoma and other related conditions. Therefore, the rising geriatric population is expected to drive the demand for Acetazolamide.

2. Growing prevalence of glaucoma: Glaucoma is a major cause of blindness worldwide. According to the World Health Organization, glaucoma affects approximately 2.7 million people in the United States alone. Acetazolamide is widely prescribed as a first-line treatment for glaucoma due to its ability to reduce intraocular pressure. The increasing prevalence of glaucoma is expected to boost the demand for Acetazolamide in the market.

C) Segment Analysis:

The Acetazolamide market can be segmented by application, distribution channel, and region.

Based on application, the market is segmented into glaucoma, epilepsy, acute mountain sickness, and others. Among these, glaucoma is the dominating segment, owing to the high prevalence of the disease and the significant use of Acetazolamide as a treatment option.

D) PEST Analysis:

– Political: The Acetazolamide market is subject to government regulations and policies regarding drug approvals and pricing. Changes in government regulations can significantly impact the market dynamics.

– Economic: The healthcare industry, including the pharmaceutical sector, is influenced by economic aspects such as healthcare expenditure and reimbursement policies. Economic fluctuations can affect the affordability and accessibility of Acetazolamide.

– Social: The increasing awareness about glaucoma and other conditions treated with Acetazolamide among the general population is driving the demand for these medications.

– Technological: Advancements in drug delivery systems and manufacturing processes have improved the efficacy and safety of Acetazolamide, leading to its increased adoption in the market.

E) Key Takeaways:

1. Market size: The global Acetazolamide market is expected to witness high growth, exhibiting a CAGR of 4.8% over the forecast period. This growth can be attributed to the increasing geriatric population and growing prevalence of glaucoma.

2. Regional analysis: North America is the fastest growing and dominating region in the Acetazolamide market, attributed to the high prevalence of glaucoma, well-established healthcare infrastructure, and favorable reimbursement policies.

3. Key players: The key players operating in the global Acetazolamide market include Teva Pharmaceutical Industries Ltd., Accord Healthcare Ltd., Heritage Pharmaceuticals Inc., Nostrum Laboratories Inc., Novast Laboratories Ltd., Cadila Healthcare, Lannett Company, Inc., Strides Shasun Limited, and X-GEN Pharmaceuticals, Inc. These players are focusing on strategic collaborations and acquisitions to expand their market presence and enhance their product offerings.