The Glaucoma Treatment Market is driven by increasing prevalence of glaucoma, rising geriatric population, and advancements in glaucoma treatment technologies.

Glaucoma Treatment Market Introduction

Glaucoma is a chronic eye disease that can lead to irreversible vision loss and blindness. The global glaucoma treatment market is expected to grow at a compound annual growth rate (CAGR) of around 7% between 2021 and 2026, according to a report by Mordor Intelligence.

The report identifies several factors driving the growth of the glaucoma treatment market, including the aging population, technological advancements, increasing awareness, growing prevalence of glaucoma, increased healthcare spending, and government initiatives.

In terms of treatment type, the report segments the glaucoma treatment market into medications, laser therapy, surgery, and others. Medications are the most commonly used treatment option for glaucoma and account for the largest share of the market. However, laser therapy and surgery are expected to grow at a faster rate due to technological advancements in these treatment options.

Geographically, North America is the largest market for glaucoma treatment, followed by Europe and Asia-Pacific. The Asia-Pacific region is expected to experience the fastest growth due to the growing prevalence of glaucoma and increasing healthcare spending in countries such as India and China.

The report also profiles some of the key players in the glaucoma treatment market, including Novartis AG, Allergan, Pfizer, Inc., Merck & Co., Inc., and Santen Pharmaceutical Co., Ltd.

Overall, the glaucoma treatment market is expected to continue to grow over the next few years, driven by a combination of demographic, technological, and social factors, and companies in the industry are likely to invest in research and development to create more effective and innovative treatments.

Glaucoma Treatment Market Industry Analysis

The glaucoma treatment market is a highly competitive industry with many established players and new entrants vying for market share. The industry is characterized by technological advancements, research and development, and mergers and acquisitions.

One of the major trends in the glaucoma treatment market is the development of minimally invasive glaucoma surgeries (MIGS). These surgeries are less invasive and have fewer complications compared to traditional glaucoma surgeries, making them a popular choice for patients and healthcare providers. Companies such as Glaukos Corporation, Ivantis, and Alcon are some of the key players in the MIGS market.

Another trend in the industry is the use of combination therapies. Many patients require more than one medication to manage their glaucoma, and combination therapies can provide more effective treatment. Companies such as Allergan, Pfizer, and Novartis offer combination therapies for glaucoma treatment.

In terms of geographic regions, North America dominates the glaucoma treatment market due to the high prevalence of glaucoma and a large aging population. Europe and Asia-Pacific are also significant markets for glaucoma treatment, with Asia-Pacific expected to experience the fastest growth due to increasing healthcare spending and growing prevalence of glaucoma.

In addition to established players in the industry, there are also many new entrants and startups developing innovative glaucoma treatments. For example, Aerie Pharmaceuticals has developed a new class of drugs called rho kinase inhibitors, which have been shown to be effective in reducing intraocular pressure in patients with glaucoma.

Overall, the glaucoma treatment market is expected to continue to grow due to increasing awareness of the disease, demographic shifts, and technological advancements. Companies in the industry are likely to invest in research and development to create more effective and innovative treatments and to pursue partnerships and acquisitions to expand their market presence.

Glaucoma Treatment Market Trends

Glaucoma is a group of eye conditions that damage the optic nerve, leading to vision loss and blindness. According to the World Health Organization, glaucoma is the second leading cause of blindness globally. The glaucoma treatment market is expected to grow significantly over the next few years due to several factors, including:

Aging population: The incidence of glaucoma increases with age, and as the global population continues to age, the demand for glaucoma treatment is likely to increase.
Technological advancements: Recent advancements in glaucoma treatment technologies, such as minimally invasive glaucoma surgeries (MIGS), are making treatment safer and more effective. This is expected to drive growth in the glaucoma treatment market.
Increasing awareness: As people become more aware of the risks and symptoms of glaucoma, they are more likely to seek treatment. This increased awareness is expected to drive growth in the market.
Growing prevalence of glaucoma: The prevalence of glaucoma is increasing worldwide, particularly in developing countries. This is expected to drive demand for glaucoma treatment.
Increased healthcare spending: As healthcare spending continues to rise globally, more resources are being allocated towards the treatment of chronic diseases such as glaucoma.
Government initiatives: Governments around the world are investing in initiatives to increase access to healthcare services, including glaucoma treatment. This is expected to drive growth in the market.

Overall, the glaucoma treatment market is expected to continue to grow over the next few years, driven by a combination of demographic, technological, and social factors.

Glaucoma Treatment Market Size And Forecast

According to a report by MarketsandMarkets, the global glaucoma treatment market was valued at USD 6.0 billion in 2020 and is projected to reach USD 7.6 billion by 2025, growing at a CAGR of 4.8% during the forecast period.

The market is expected to be driven by factors such as the increasing prevalence of glaucoma, rising geriatric population, and advancements in the glaucoma treatment technologies. Additionally, government initiatives to increase awareness of eye diseases and improve access to healthcare services are expected to contribute to the growth of the market.

In terms of treatment type, the medication segment holds the largest market share due to the high demand for eye drops and oral medications to manage intraocular pressure. However, the surgical segment is expected to grow at a higher rate during the forecast period due to the development of minimally invasive surgeries and the increasing preference for surgical interventions over long-term medication use.

Geographically, North America dominates the glaucoma treatment market due to the high prevalence of glaucoma and the presence of major players in the region. However, the Asia-Pacific region is expected to grow at the highest rate due to factors such as a large aging population, increasing prevalence of glaucoma, and improving healthcare infrastructure.

Overall, the glaucoma treatment market is expected to continue to grow in the coming years due to the increasing prevalence of glaucoma and the aging population. Advancements in treatment technologies and increased awareness of eye diseases are also expected to contribute to the growth of the market.

Glaucoma Treatment Market Share Analysis

According to a report by Mordor Intelligence, the major players in the global glaucoma treatment market include Novartis AG, Allergan, Pfizer, Inc., Merck & Co., Inc., and Santen Pharmaceutical Co., Ltd. These companies together account for a significant share of the market.

In terms of treatment type, the medication segment holds the largest share of the market due to the high demand for eye drops and oral medications to manage intraocular pressure. The major players in this segment include Novartis AG, Allergan, Pfizer, Inc., and Santen Pharmaceutical Co., Ltd.

The surgical segment is expected to grow at a higher rate than the medication segment due to the development of minimally invasive surgeries and the increasing preference for surgical interventions over long-term medication use. The major players in this segment include Glaukos Corporation, Ivantis, Alcon, and Ellex Medical Lasers.

Geographically, North America dominates the glaucoma treatment market, followed by Europe and Asia-Pacific. The major players in North America include Allergan, Pfizer, Inc., and Merck & Co., Inc. In Europe, the major players include Novartis AG and Santen Pharmaceutical Co., Ltd., while in Asia-Pacific, the major players include Sun Pharmaceutical Industries Ltd. and Pfizer, Inc.

In addition to these established players, there are also many new entrants and startups developing innovative glaucoma treatments. These companies may capture a larger share of the market in the future if their treatments prove to be effective and gain regulatory approval. Overall, the glaucoma treatment market is highly competitive, and the major players are likely to continue investing in research and development to maintain and expand their market share.

Glaucoma Treatment Market Competitive Landscape

The glaucoma treatment market is highly competitive, with many established players and new entrants vying for market share. The major players in the market include Novartis AG, Allergan, Pfizer, Inc., Merck & Co., Inc., and Santen Pharmaceutical Co., Ltd.

These companies are investing heavily in research and development to develop new and innovative treatments for glaucoma. For example, Allergan has developed a combination therapy for glaucoma that combines two medications in a single eye drop. Novartis AG has also developed new treatments for glaucoma, including a sustained-release implant and a rho kinase inhibitor.

In addition to these established players, there are also many startups and smaller companies developing innovative glaucoma treatments. For example, Aerie Pharmaceuticals has developed a new class of drugs called rho kinase inhibitors, which have been shown to be effective in reducing intraocular pressure in patients with glaucoma.

The glaucoma treatment market is also characterized by mergers and acquisitions, with larger companies acquiring smaller companies to expand their market presence and product offerings. For example, in 2020, Ivantis was acquired by Abbott Laboratories, a global healthcare company, to expand its glaucoma treatment portfolio.

Overall, the glaucoma treatment market is expected to continue to be highly competitive, with established players investing in research and development and new entrants developing innovative treatments. Companies are likely to pursue partnerships and acquisitions to expand their market presence and gain access to new technologies and product offerings.

Glaucoma Treatment Market Intelligence

The global glaucoma treatment market is expected to grow in the coming years due to factors such as the increasing prevalence of glaucoma, rising geriatric population, and advancements in glaucoma treatment technologies.

The medication segment currently holds the largest market share due to the high demand for eye drops and oral medications to manage intraocular pressure. However, the surgical segment is expected to grow at a higher rate during the forecast period due to the development of minimally invasive surgeries and the increasing preference for surgical interventions over long-term medication use.

North America currently dominates the glaucoma treatment market due to the high prevalence of glaucoma and the presence of major players in the region. However, the Asia-Pacific region is expected to grow at the highest rate due to factors such as a large aging population, increasing prevalence of glaucoma, and improving healthcare infrastructure.

The major players in the global glaucoma treatment market include Novartis AG, Allergan, Pfizer, Inc., Merck & Co., Inc., and Santen Pharmaceutical Co., Ltd. These companies are investing heavily in research and development to develop new and innovative treatments for glaucoma.

In addition to these established players, there are also many startups and smaller companies developing innovative glaucoma treatments. The glaucoma treatment market is highly competitive, with companies pursuing partnerships and acquisitions to expand their market presence and gain access to new technologies and product offerings.

Overall, the glaucoma treatment market is expected to continue to grow in the coming years, driven by factors such as the aging population and increasing prevalence of glaucoma. Advancements in treatment technologies and increased awareness of eye diseases are also expected to contribute to the growth of the market.

Glaucoma Treatment Market Industry Trends

Some of the current trends in the glaucoma treatment market include:

Advancements in treatment technologies: The development of new treatments such as minimally invasive surgeries and sustained-release implants is allowing for more effective and long-lasting management of intraocular pressure in patients with glaucoma.
Increasing preference for surgical interventions: As the effectiveness and safety of surgical interventions continue to improve, more patients with glaucoma are opting for surgery over long-term medication use.
Growing use of combination therapies: Combination therapies, which combine multiple medications or treatments, are becoming increasingly popular in the treatment of glaucoma as they can offer more effective management of intraocular pressure.
Rising demand for personalized medicine: As the understanding of the genetic and molecular basis of glaucoma improves, there is a growing demand for personalized medicine that can target specific genetic or molecular factors.
Adoption of telemedicine: Telemedicine and remote monitoring are becoming increasingly common in the management of glaucoma, allowing for more frequent monitoring of intraocular pressure and faster adjustment of treatment plans.
Increasing focus on patient-centric care: There is a growing emphasis on patient-centric care in the treatment of glaucoma, with healthcare providers seeking to improve patient education, communication, and engagement to improve outcomes and quality of life.

Overall, these trends are driving innovation and growth in the glaucoma treatment market, with the goal of improving outcomes for patients with glaucoma.

Glaucoma Treatment Market Analysis

The glaucoma treatment market is a rapidly growing industry, driven by factors such as the increasing prevalence of glaucoma, rising geriatric population, and advancements in glaucoma treatment technologies. Here is a detailed analysis of the market:

Market Size: The global glaucoma treatment market was valued at USD 6.4 billion in 2020 and is expected to grow at a CAGR of 6.8% from 2021 to 2028.

Market Segmentation: The market is segmented by type of treatment (medication and surgery), by disease type (open-angle glaucoma, angle-closure glaucoma, and others), and by region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).

Medication segment: The medication segment currently holds the largest market share due to the high demand for eye drops and oral medications to manage intraocular pressure. The medication segment is further segmented into prostaglandins, beta blockers, alpha agonists, carbonic anhydrase inhibitors, and combination medications.

Surgery segment: The surgical segment is expected to grow at a higher rate during the forecast period due to the development of minimally invasive surgeries and the increasing preference for surgical interventions over long-term medication use. The surgical segment is further segmented into trabeculectomy, glaucoma drainage devices, minimally invasive glaucoma surgery (MIGS), and laser surgery.

Disease type: Open-angle glaucoma is the most common type of glaucoma and accounts for the largest market share. Angle-closure glaucoma and others (such as congenital glaucoma and secondary glaucoma) are also significant segments of the market.

Regional Analysis: North America currently dominates the glaucoma treatment market due to the high prevalence of glaucoma and the presence of major players in the region. However, the Asia-Pacific region is expected to grow at the highest rate due to factors such as a large aging population, increasing prevalence of glaucoma, and improving healthcare infrastructure.

Key Players: The major players in the global glaucoma treatment market include Novartis AG, Allergan, Pfizer, Inc., Merck & Co., Inc., and Santen Pharmaceutical Co., Ltd. These companies are investing heavily in research and development to develop new and innovative treatments for glaucoma.

Glaucoma Treatment Market Segmentation

The glaucoma treatment market can be segmented based on various factors, including the type of treatment, disease type, and region. Here is a more detailed look at each of these segments:

Type of treatment: The glaucoma treatment market can be segmented into two major categories: medication and surgery.

Medication segment: This segment includes various types of medications, such as prostaglandins, beta blockers, alpha agonists, carbonic anhydrase inhibitors, and combination medications. Eye drops and oral medications are commonly used to manage intraocular pressure in patients with glaucoma.

Surgery segment: This segment includes various types of surgeries, such as trabeculectomy, glaucoma drainage devices, minimally invasive glaucoma surgery (MIGS), and laser surgery. As the effectiveness and safety of surgical interventions continue to improve, more patients with glaucoma are opting for surgery over long-term medication use.

Disease type: The glaucoma treatment market can be segmented based on the type of glaucoma that is being treated.

Open-angle glaucoma: This is the most common type of glaucoma and occurs when the drainage canals in the eye become clogged, leading to increased intraocular pressure.

Angle-closure glaucoma: This type of glaucoma occurs when the iris is pushed forward and blocks the drainage canals, leading to increased intraocular pressure.

Other types of glaucoma: This segment includes various other types of glaucoma, such as congenital glaucoma and secondary glaucoma.

Region: The glaucoma treatment market can also be segmented based on the region in which it is being studied.

North America: This region is currently the largest market for glaucoma treatment, driven by factors such as the high prevalence of glaucoma and the presence of major players in the region.

Europe: Europe is the second-largest market for glaucoma treatment and is expected to experience steady growth due to the increasing prevalence of glaucoma in the region.

Asia-Pacific: This region is expected to grow at the highest rate due to factors such as a large aging population, increasing prevalence of glaucoma, and improving healthcare infrastructure.

Latin America: The glaucoma treatment market in Latin America is expected to grow at a moderate rate due to increasing awareness about eye diseases and improving healthcare infrastructure.

Middle East & Africa: The glaucoma treatment market in the Middle East & Africa region is expected to grow at a slow rate due to factors such as limited access to healthcare and a lack of awareness about glaucoma.

Glaucoma Treatment Market Forecast

The glaucoma treatment market is expected to continue to grow in the coming years due to factors such as increasing prevalence of glaucoma, aging population, and advances in technology and treatment options. Here are some forecasts for the glaucoma treatment market:

Market size: The glaucoma treatment market is expected to reach a size of $8.8 billion by 2027, growing at a compound annual growth rate (CAGR) of 5.2% from 2020 to 2027.
Medication segment: The medication segment of the glaucoma treatment market is expected to continue to dominate the market, accounting for the largest share of the market. The prostaglandins medication class is expected to be the fastest-growing segment, with a CAGR of 5.9% during the forecast period.
Surgery segment: The surgery segment of the glaucoma treatment market is expected to grow at a faster rate than the medication segment, with a CAGR of 5.6% during the forecast period. The minimally invasive glaucoma surgery (MIGS) segment is expected to be the fastest-growing segment, with a CAGR of 6.4% during the forecast period.
Disease type: Open-angle glaucoma is expected to remain the most common type of glaucoma, accounting for the largest share of the market. However, the angle-closure glaucoma segment is expected to grow at a faster rate due to increasing prevalence of the disease.
Region: The Asia-Pacific region is expected to experience the highest growth rate during the forecast period, driven by factors such as a large aging population, increasing prevalence of glaucoma, and improving healthcare infrastructure. North America and Europe are expected to remain the largest markets for glaucoma treatment, but their growth rates are expected to be slower than that of Asia-Pacific.

Glaucoma Treatment Market Growth

The glaucoma treatment market is expected to experience significant growth in the coming years due to various factors, including the increasing prevalence of glaucoma, aging population, and advancements in treatment options. Here are some of the key drivers of growth for the glaucoma treatment market:

Increasing prevalence of glaucoma: As the global population continues to age, the prevalence of glaucoma is expected to increase. Glaucoma is one of the leading causes of blindness worldwide, and as such, there is a growing need for effective treatments for the disease. This is expected to drive growth in the glaucoma treatment market in the coming years.
Advancements in treatment options: Advances in technology and treatment options have led to improved outcomes for patients with glaucoma. New medications and surgical procedures are constantly being developed and refined, which is expected to further drive growth in the market.
Aging population: The global population is aging, which is expected to increase the demand for glaucoma treatment. As people age, they become more susceptible to eye diseases such as glaucoma, and this is expected to drive growth in the market.
Increasing awareness and screening: Increasing awareness about eye diseases and the importance of regular eye screenings is expected to drive growth in the glaucoma treatment market. As more people become aware of the importance of early detection and treatment, they are more likely to seek treatment for glaucoma.
Government initiatives: Governments and healthcare organizations around the world are taking steps to improve access to healthcare and increase awareness about eye diseases. This is expected to drive growth in the glaucoma treatment market as more people become aware of the disease and seek treatment.

Overall, the glaucoma treatment market is expected to experience significant growth in the coming years due to the increasing prevalence of glaucoma and advancements in treatment options.

Glaucoma Treatment Market Competitor Analysis

The glaucoma treatment market is highly competitive, with several companies vying for market share. Here are some of the key players in the market:

Novartis AG: Novartis is a Swiss multinational pharmaceutical company that develops and manufactures a range of pharmaceutical products, including medications for the treatment of glaucoma. Some of the company’s leading glaucoma medications include Travatan, Azopt, and Simbrinza.
Allergan, Inc.: Allergan is a global pharmaceutical company that develops and markets a range of products in the areas of eye care, aesthetics, and central nervous system disorders. The company’s glaucoma products include Lumigan, Combigan, and Alphagan.
Pfizer Inc.: Pfizer is a multinational pharmaceutical company that develops and manufactures a range of pharmaceutical products, including medications for the treatment of glaucoma. The company’s leading glaucoma medications include Xalatan, Xalacom, and Zioptan.
Santen Pharmaceutical Co., Ltd.: Santen is a Japanese pharmaceutical company that specializes in the development and marketing of ophthalmic drugs and medical devices. The company’s leading glaucoma products include Tapros and Glanatec.
Merck & Co., Inc.: Merck is a global pharmaceutical company that develops and manufactures a range of pharmaceutical products, including medications for the treatment of glaucoma. The company’s leading glaucoma medications include Cosopt, Trusopt, and Timoptic.

Other notable companies in the glaucoma treatment market include Bausch Health Companies Inc., Akorn Inc., Aerie Pharmaceuticals Inc., and Ocular Therapeutix Inc.

These companies compete on factors such as product efficacy, safety, pricing, and availability. They also invest heavily in research and development to develop new and improved glaucoma treatments, as well as in marketing and promotional activities to increase awareness of their products. The competitive landscape of the glaucoma treatment market is expected to remain dynamic as new products and technologies are developed and introduced.

Glaucoma Treatment Market Strengths

The glaucoma treatment market has several strengths that make it an attractive investment opportunity. Here are some of the key strengths of the market:

Increasing prevalence of glaucoma: The growing incidence of glaucoma is a key strength of the market, as it is driving demand for glaucoma treatments. With the aging population, the prevalence of glaucoma is expected to increase, which will further drive demand for glaucoma treatments.
Advancements in treatment options: There have been significant advancements in glaucoma treatment options in recent years, which is a major strength of the market. These advancements include new medications, minimally invasive surgeries, and improved drug delivery systems. This has led to better outcomes for patients and increased demand for glaucoma treatments.
Growing awareness of glaucoma: There is growing awareness of glaucoma and its effects on vision, which is a strength of the market. This increased awareness is driving demand for glaucoma treatments as more people are seeking early diagnosis and treatment.
Increasing government support: Governments around the world are taking steps to improve access to healthcare and increase awareness of glaucoma. This support is a strength of the market, as it is helping to drive demand for glaucoma treatments.
Strong market competition:

Glaucoma Treatment Market Opportunities

The glaucoma treatment market presents several opportunities for companies looking to invest in the space. Here are some of the key opportunities in the market:

Development of new treatments: There is a significant opportunity for companies to develop new and innovative treatments for glaucoma. With the aging population and growing prevalence of glaucoma, there is a need for more effective treatments that can slow or halt the progression of the disease.
Focus on early diagnosis: There is an opportunity for companies to focus on early diagnosis and treatment of glaucoma. With early detection and treatment, the disease can be managed more effectively, leading to better outcomes for patients.
Use of technology: There is an opportunity to leverage technology in the development of glaucoma treatments. This includes the use of artificial intelligence, telemedicine, and remote monitoring to improve the accuracy and efficiency of diagnosis and treatment.
Emerging markets: There is an opportunity to expand into emerging markets, where there is a growing need for glaucoma treatments. This includes countries in Asia, Africa, and Latin America, where the prevalence of glaucoma is expected to increase in the coming years.
Strategic partnerships: There is an opportunity for companies to form strategic partnerships with other companies and organizations in the space. This includes collaborations on research and development, clinical trials, and marketing and distribution.

Overall, the glaucoma treatment market presents several opportunities for companies looking to invest in the space. These opportunities include the development of new treatments, a focus on early diagnosis, the use of technology, expansion into emerging markets, and strategic partnerships. Companies that can capitalize on these opportunities are well-positioned for growth in the market.

Glaucoma Treatment Market Weakness

The glaucoma treatment market also has some weaknesses that could pose challenges to companies operating in the space. Here are some of the key weaknesses of the market:

Limited awareness of glaucoma: While there is growing awareness of glaucoma, it remains a relatively unknown disease compared to other eye conditions. This can make it difficult for companies to market glaucoma treatments effectively and drive demand.
High cost of treatment: The cost of glaucoma treatment can be high, which can be a weakness of the market. This can limit access to treatment for some patients, particularly in developing countries where healthcare infrastructure and insurance coverage may be limited.
Side effects of treatments: Some glaucoma treatments can have significant side effects, which can be a weakness of the market. These side effects can be a barrier to treatment for some patients, who may be reluctant to undergo treatment due to concerns about the potential risks.
Competition from alternative treatments: There are alternative treatments for glaucoma, including natural remedies and alternative therapies, which can be a weakness of the market. These alternative treatments can be attractive to some patients who are looking for non-invasive or natural treatments for their condition.
Regulatory challenges: The glaucoma treatment market is subject to regulatory oversight, which can be a weakness of the market. Obtaining regulatory approval for new treatments can be a time-consuming and costly process, which can delay the introduction of new treatments to the market.

Overall, the glaucoma treatment market has some weaknesses, including limited awareness of the disease, the high cost of treatment, side effects of treatments, competition from alternative treatments, and regulatory challenges. Companies operating in the space will need to navigate these challenges to succeed in the market.

Glaucoma Treatment Market Threats

The glaucoma treatment market also faces several threats that could pose challenges to companies operating in the space. Here are some of the key threats to the market:

Competition from generic drugs: There is a threat of competition from generic drugs in the glaucoma treatment market. As patents for existing treatments expire, generic versions may enter the market, which can lower prices and reduce profit margins for companies.
Increasing regulatory scrutiny: The glaucoma treatment market is subject to increasing regulatory scrutiny, which can be a threat to companies operating in the space. Regulatory agencies are increasingly focused on the safety and efficacy of drugs and medical devices, which can lead to delays in the approval process and higher costs.
Economic downturns: Economic downturns can be a threat to the glaucoma treatment market. During economic downturns, patients may be less likely to seek medical treatment or may delay treatment, which can reduce demand for glaucoma treatments.
Lack of reimbursement: The lack of reimbursement for glaucoma treatments can be a threat to the market. In some countries, glaucoma treatments may not be covered by insurance, which can limit access to treatment for some patients.
Emergence of new treatments: The emergence of new treatments can be a threat to existing companies in the glaucoma treatment market. New treatments that are more effective or have fewer side effects can disrupt the market and reduce demand for existing treatments.

Overall, the glaucoma treatment market faces several threats, including competition from generic drugs, increasing regulatory scrutiny, economic downturns, lack of reimbursement, and the emergence of new treatments. Companies operating in the space will need to stay vigilant and adaptable to navigate these threats and remain competitive in the market.

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Market Insight Lab journalist was involved in the writing and production of this article.