Market Overview
Optic
neuritis is a medical condition characterized by inflammation of the optic
nerve. The inflammation leads to a sudden temporary vision loss or blurring in
one or both the eyes. Major symptoms include eye pain, redness in the eye,
partial or complete vision loss and blurred vision. Conventionally, steroids
have been used for treating optic neuritis; however, novel targeted therapies
are being explored. For instance, cladribine and rituximab have shown promising
results in controlling the inflammation and damage to optic nerve tissues. The
global optic neuritis treatment market is primarily driven by the growing
prevalence of optic neuritis and MS.
The Global optic
neuritis treatment market is estimated to be valued at US$ 142 million in
2024 and is expected to exhibit a CAGR of 6.1% over the forecast period
2024-2032.
Key Takeaways
Key players
operating in the optic neuritis treatment market are Novartis, Teva
Pharmaceuticals, Bayer, Pfizer, Sanofi, Bristol-Myers Squibb and Allergan. The
increasing burden of autoimmune disorders such as MS is a major factor driving
the demand for optic neuritis treatment therapies. Additionally, companies are
investing in R&D to develop novel treatment options such as antigen-specific
treatments, neuroprotective therapies and monoclonal antibodies to treat vision
loss and optic nerve damage.
Market Trends
Increasing research in neuroprotection is one of the key trends being
observed in the optic neuritis treatment market. Several companies are
exploring novel therapies that can protect the optic nerve neurons from damage
during inflammation. Companies are also evaluating stem cell therapies for
regenerating damaged nerve tissues. Increasing adoption of personalized
medicine approaches is another trend, where therapies are tailored as per the
type and severity of each case.
Market Opportunities
Availability of pipeline products for treating comorbid disorders
associated with optic neuritis like MS and adoption of combination therapies
present key opportunities in the market. Development of oral formulations for
existing therapies can further aid treatment adherence. Investment in
development of neuroprotective drugs targeting underlying disease pathology
also provides scope for growth.
Impact of COVID-19 on Optic Neuritis
Treatment Market Growth
The outbreak of the COVID-19 pandemic has negatively impacted the growth of the
global optic neuritis treatment market. During the initial outbreak, the
priority of healthcare resources shifted away from non-emergency care towards
critical care for COVID-19 patients. This led to postponement of routine
check-ups, diagnostic procedures, and elective surgeries including those
related to optic neuritis treatment. Additionally, lockdowns and movement
restrictions imposed by various governments globally disrupted supply chains
and manufacturing activities. However, with vaccination programs being rolled
out and restrictions easing in 2021, the market is gradually recovering.
The post-COVID period holds opportunities for market growth. In the last couple
of years, greater focus is being given to non-communicable diseases like
multiple sclerosis that often causes optic neuritis. Research funding is
increasing for developing novel therapies that are more effective with fewer
side effects. Telemedicine and online consultations are becoming popular which
enables continued care management of optic neuritis patients during outbreaks.
Pharmacies and manufacturers are strengthening their supply networks to ensure
uninterrupted availability of drugs especially corticosteroids which are
first-line therapies.
Geographical Concentration of Optic
Neuritis Treatment Market
In terms of value, North America commands the leading share in the global optic
neuritis treatment market currently. This is mainly attributed to the rising
prevalence of multiple sclerosis in the US and Canada coupled with high
healthcare spending in the region. Within North America, the US market
contributes significantly to the overall revenues. Moreover, favorable
reimbursement policies and presence of major manufacturers also support market
growth in this region.
Fastest Growing Region for Optic
Neuritis Treatment Market
Asia Pacific region is projected to witness the fastest growth over the
forecast period. This is due to increasing awareness about eye disorders,
growing healthcare spending capabilities, and expanding healthcare
infrastructure especially in emerging economies like India, China, and South
Korea. Rising incidence of demyelinating diseases and adoption of Western
lifestyles that elevate risk factors for optic neuritis also contribute to
market opportunities. Additionally, growing focus of international players to
tap untapped opportunities through partnerships and establishment of local
manufacturing units will propel the Asia Pacific optic neuritis treatment
market.
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What
Are The Key Data Covered In This Optic Neuritis Treatment Market Report?
:- Market
CAGR throughout the predicted period
:- Comprehensive
information on the aspects that will drive the Optic Neuritis Treatment 's
growth between 2024 and 2031.
:- Accurate
calculation of the size of the Optic Neuritis Treatment and its contribution to the market, with
emphasis on the parent market
:- Realistic
forecasts of future trends and changes in consumer behaviour
:- Optic
Neuritis Treatment Industry Growth in
North America, APAC, Europe, South America, the Middle East, and Africa
:- A
complete examination of the market's competitive landscape, as well as
extensive information on vendors
:- Detailed
examination of the factors that will impede the expansion of Optic Neuritis
Treatment vendors
About Author:
Ravina Pandya, Content Writer, has a strong foothold
in the market research industry. She specializes in writing well-researched
articles from different industries, including food and beverages, information
and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
*Note:
1. Source:
Coherent Market Insights, Public sources, Desk research
2. We
have leveraged AI tools to mine information and compile it
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