Ischemic Optic Neuropathy Treatment Market Segmented By Corticosteroids, Antimetabolites, Anticoagulants, Serotonin and Norepinephrine Reuptake Inhibitors, Nonsteroidal Anti-Inflammatory Drugs
Industry: Healthcare
Published Date: December-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 223
Report ID: PMRREP23077
Worldwide revenue from the Ischemic Optic Neuropathy Treatment market was about US$ 200.2 Mn in 2022, with the global market estimated to surge ahead at a CAGR of 3.3% to reach a valuation of US$ 286.6 Mn by the end of 2033.
|
Ischemic Optic Neuropathy Treatment Market Size (2022) |
US$ 200.2 Mn |
|
Projected Market Value (2033) |
US$ 286.6 Mn |
|
Global Market Growth Rate (2023-2033) |
3.3% CAGR |
|
Market Share of Top 5 Countries |
58.3% |
As assessed by Persistence Market Research, anterior ischemic optic neuropathy is expected to hold a largest market value of US$ 159.6 Mn by 2023. Overall, ischemic optic neuropathy treatment market sales account for approximately 0.6% revenue share in the global ophthalmic disease therapeutics market, which was valued at around US$ 33.5 Bn at the end of 2022.
The global market for Ischemic Optic Neuropathy Treatment recorded a historic CAGR of 2.8% in the last 6 years from 2016 to 2022.
An increase in the older population and a growing awareness of the importance of early detection to prevent further deterioration of the condition have led to an increase in interest in operations and medications for treating optic nerve disorders, which has accelerated market growth.
The prevalence of optic nerve disorders is driving up demand for treatments for these conditions and driving up market growth. According to the World Health Organization (WHO), over 1.3 billion individuals suffer from eyesight disorders. Additionally, growing demand for non-invasive medical procedures in the optometric industry is generating attractive prospects for market players. Patients exhibit a strong preference for pharmaceuticals over medical procedures after becoming aware of the expense and hazards associated with surgeries, which is a key reason in the market's expansion.
The market for ischemic optic neuropathy treatment is expected to grow over the projected period as a result of an increase in the usage of previously approved ocular implants in the management of ophthalmology disorders. Leading pharmaceutical and drug manufacturing companies from developed countries are heavily investing in R&D, infrastructure, and advanced ophthalmology therapeutics in order to capture a share of the growing market for eye disorders. This is also accelerating the growth of the global market.
The global market is thus likely to show high growth over the coming years at a CAGR of 286.6% and reach a global market size of US$ 3.3 Mn by 2033.
“Increasing Adoption of Foreign Direct Investment”
The amount of foreign direct investment between European countries, Japan, China, and the ASEAN nations has increased. Along with developed nations like Singapore, the surge in foreign direct investment has also been seen in emerging nations like Vietnam, and Cambodia. This has caused a number of foreign players to now enter the unexplored markets of India and China in an effort to broaden their market reach and increase the penetration of their product in the market for treating ischemic optic neuropathy. With such possibilities available, domestic players make an attempt to establish new product development strategies.
“Increasing Pool of Diabetic Patients”
Some of the common causes of ischemic optic neuropathy include hypercholesterolemia, diabetes, and hypertension. Ischemic optic neuropathies can occur in a number of ways, but the most typical one is diabetic neuropathy. The CDC predicts that 60–70% of patients with diabetes will have diabetic neuropathy.
According to a WHO estimates, 463 million people worldwide were estimated to have had diabetes in 2019. This study also projects that by 2030, it might reach 578 million individuals, and by 2045, 700 million. According to the survey, there are currently about 290 million people who have neuropathy caused by diabetes. It is anticipated that the growing number of diabetic people around the world would increase demand for treatments for ischemic optic neuropathy.
“Rising prevalence of Risk Factors”
Ischemic optic neuropathy is a results of a drop in blood pressure that reduces the blood flow to the optic nerve, increased pressure inside the eyeball, constricted arteries, increased blood viscosity (thickness), or decreased blood flow to the optic nerve where it exits the back of the eye. These risk factors can be brought on by a variety of conditions or ailments, increasing a person's likelihood of acquiring an illness. Ischemic ocular neuropathies can be brought on by medical disorders such hypoperfusion, failure of autoregulation, severe anaemia, vasospasm, nocturnal hypotension, and sleep apnea.
“Severe Side Effects Associated with The High Dose Corticosteroids Medication”
Ischemic optic neuropathy is currently resistant to treatment, but a number of medicinal and surgical treatments have been suggested. One of them is corticosteroids, which are intended to be used as a first line of treatment for ischemic optic neuropathy. Although these medications can temporarily relieve a patient's neuropathic pain, steroids have greater negative side effects than antimetabolites and anticonvulsants. The negative effects of steroids can include heart attack, kidney failure, lung damage, restlessness, etc. The patient's health may be severely hampered by these side effects. Therefore, using high doses of steroids could have serious negative effects on patients, that can impede the market's expansion.
“High Cost of Branded Drugs for the Treatment of Ischemic Optic Neuropathy”
Chronic ischemic optic neuropathy has a serious negative influence on the body. To avoid losing their vision, the patient must receive treatment for ischemic optic neuropathy. Licensed medications for the treatment of ischemic optic neuropathy are quite expensive. The patients in underdeveloped economies cannot afford them. Patients choose generic medications in underdeveloped nations, which is anticipated to lower the rate of branded medication adoption in the market for treating ischemic optic neuropathy. The cost of branded drugs in underdeveloped economies is a significant factor that is likely to restrain market expansion.
Why is the U.S. Ischemic Optic Neuropathy Treatment Market Booming?
“Better Reimbursement Policies”
The U.S. is expected to hold around 39.9% market share in the global ischemic optic neuropathy treatment market at the end of 2023.
As there is a large supply of modern healthcare infrastructure and facilities. It currently has the largest market share worldwide, and it is anticipated that this trend will continue throughout the upcoming years. The market is boosted in the country by factors like better reimbursements and high incomes. Additionally, strong support from U.S. government initiatives, such as resources for Medicaid, glaucoma macular and degeneration, Medicare, social security, prescription assistance programs, and others, is assisting market expansion. The country's market is anticipated to grow over the next few years as a result of the availability of a developed healthcare infrastructure and increased spending on R&D efforts in the field of ophthalmology.
Will Germany Be a Lucrative Market for the Manufacturers?
“Highest Number Older People in the Region and Better Healthcare System”
With a 7.1% market share, Germany will hold a fair amount of share in global market at the end of 2023.
Germany has a sophisticated and organised healthcare system. Germany fosters R&D in the treatment of eye-related disorders, which contributes to its high healthcare costs. These regulations encourage many companies from around the world to do business there.
According to the United Nations' World Aging Population report, Germany had the highest proportion of citizens 60 years of age or older in 2017. Additionally, the growing senior population is causing fundamental healthcare issues in the majority of affluent countries, including Germany. This will help the country's market develop.
How is Japan Emerging as a Prominent Market for Ischemic Optic Neuropathy Treatment?
“Vast Patient Pool Suffering from Eye Disorders”
Japan is estimated to hold market share of about 4.9% of the global ischemic optic neuropathy treatment market in 2023.
The industry is predicted to grow as a result of increasing strategic alliances and technological improvements. Another factor expected to boost the market Japan in increased market penetration of key players and presence of large patient pool suffering from eye disorders from youngsters to geriatric population.
Which Product is Driving Growth of the Global Market?
“Rising Rate of Colostomy Procedures”
Anticoagulants segment is expected to hold highest share of around 47.8% of the total drug class segment by the end of 2023.
Anticoagulants are drugs that work to prevent blood clots from forming. Within four weeks of the onset of symptoms, patients with ischemic optic neuropathy benefit from anticoagulation with heparin and warfarin.
Which Route of Administration is Expected to Dominate the Global Market?
“More Inclined Patient Preference for Oral Dosage Forms”
Oral route of administration segment is expected to be the dominating segment by the end of 2023 with majority of the market of about 76.1%.
It is the most cost-effective and practical method of administration. The better drug stability is found in solid dose forms like capsules and tablets, which also provides quick effect. Due to advantages including ease of administration, non-invasiveness, high patient compliance, and lack of a specific sterile environment, oral drug delivery is also the most preferred method.
Which Disease Type is expected to Drive the Global Market in 2023?
“Increasing Prevalence of Acute Optic Neuropathy”
Anterior ischemic optic neuropathy segment anticipated to be the leading segment by the end of 2023 with holding the market share of around 77.0%.
Anterior ischemic optic neuropathy is most likely the reason for acute optic neuropathy in the geriatric population. For instance, the most prevalent acute optic neuropathy in people over 50 is non-arteritic anterior ischemic optic neuropathy (NAION), with an estimated yearly incidence of 2.3 - 10.2/100,000 citizens in the U.S.
Which Distribution Channel is Expected to Emerge as a Market Leader in the Future?
“Increasing Number of Hospitals with Better Infrastructure”
Retail Pharmacies is expected to hold the larger share of about 46.2% by the end of 2023.
Retail pharmacies are the most successful due to factors like technology-driven pharmacies, benefits for patients and consumers, and growth in market share and earnings. Additionally, as patients move toward medical care in order to avoid surgical treatments.
Manufacturers are concentrating on diversifying their product lines by introducing new, advanced products and securing approval from various governmental agencies.
Key instances include:
|
Attribute |
Details |
|
Forecast Period |
2023-2033 |
|
Historical Data Available for |
2016-2022 |
|
Market Analysis |
USD Million for Value |
|
Key Countries Covered |
|
|
Key Market Segments Covered |
|
|
Report Coverage |
|
|
Key Companies’ Profile |
|
|
Customization & Pricing |
Available upon Request |
Drug Class:
Route of Administration:
Disease Type:
Distribution Channel:
Region:
To know more about delivery timeline for this report Contact Sales
The global market is currently valued at around US$ 200.2 Mn in 2022.
Sales of the market are set to witness growth at a CAGR of 3.3% and be valued at around US$ 286.6 Mn by 2033.
Demand for the market increased at a 2.8% CAGR from 2016 to 2022.
U.S., China, Germany, the UK, and Japan accounted for the major share in the global market as of year 2022, holding around 58.3% market share.
The U.S. is expected to hold around 39.9% market share in the global ischemic optic neuropathy treatment market at the end of 2023.
Latin America will account for around 5.7% share of the global market in 2023.
Japan is estimated to hold market share of about 4.9% of the global ischemic optic neuropathy treatment market in 2023.
Germany held about 7.1% of the global market share at the end of 2023.
China is set to expand at a CAGR of close to 3.7% over the forecast period.
India is set to expand at a CAGR of close to 4.8% over the forecast period.
