Optic Nerve Disorders Treatment Market Size, share, Analysis By 2027 | Global Industry Growth Rate, Technology Trends, Competitive Landscape, Demand Overview, Key Region
Optic nerve disorder is a medical condition that indicates degeneration of the optic nerve. There are many types of optic nerve disorders such as glaucoma, optic neuritis, and optic nerve atrophy. Antibiotics such as ethambutol, isoniazid, and tetracycline cause optic neuritis. Steroid-based drugs such as methylprednisolone, which is a synthetic corticosteroid used intravenously as an anti-inflammatory and immunosuppressant agent are in the clinical practice and generally preferred by the physicians.
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In most of cases, there is no treatment available for optic nerve damage that can restore sight but can stop further worsening of the symptoms. The patient who are diagnosed with glaucoma can use eye drops, undergo eye surgery such as laser therapy, and oral medication.
Global Optic Nerve Disorders Treatment Market Drivers
Increasing number of drug approvals by the U.S. Food & Drug Administration (FDA) for treatment of optic nerve disorders are expected to drive growth of the optic nerve disorders treatment market. For instance, in 2019, Eculizumab, which is a first monoclonal antibody drug that target C5 node of the nerve was approved by the U.S. FDA. In addition, Eculizumab is used for the treatment of Neuromyelitis Optica Spectrum Disorder (NMOSD).
Moreover, Bausch & Lomb, a leading global eye health company) and Nicox S.A. received the U.S. FDA approval for VYZULTA, in 2017. VYZULTA is a first prostaglandin analog with one of its metabolites being nitric oxide (NO) and is used for the reduction of intraocular pressure (IOP) in patients with open-angle glaucoma.
Furthermore, in 2017, Aerie Pharmaceuticals received the U.S. FDA approval of Rhopressa. In addition, Rhopressa also used in lowering of elevated intraocular pressure in patients with open-angle glaucoma or ocular hypertension. Therefore, approval of Eculizumab, VYZULTA, and Rhopressa drug are expected to drive growth of the optic nerve disorders treatment market.
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In 2019, Santhera Pharmaceuticals announced about successful completion of its clinical trial (Phase IV) of Raxone drug, used for the treatment of hereditary optic neuropathies. It is expected to be marketed by 2021. Increasing prevalence of vision impairment or blindness among people is the factor that is expected to boost growth of the global optic nerve disorders treatment market. For instance, according to WHO, in 2019, over one billion people suffered from vision impairment globally. In addition, changing lifestyle of the people and limited access to eye care especially in the emerging countries are the main driving factors for rising numbers of people with vision impairment.
Global Optic Nerve Disorders Treatment Market Restraints
However, side effects associated with optic nerve disorders drugs for the treatment of the disease such as glaucoma, optic neuritis are the factors that are expected to hamper growth of the global optic nerve disorders treatment market. For instance, potential side effects of the prostaglandin analogs drug (Xalatan) that are used for the treatment of glaucoma are eye color change, darkening of eyelid skin, eyelash growth, droopy eyelids, sunken eyes, stinging, eye redness, and itching. Moreover, side effects of steroid drugs (Methylprednisolone), which is used for the treatment of optic neuritis include eye infection, mood changes, and weight gain.
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Global Optic Nerve Disorders Treatment Market Regional Analysis
North America is expected to account for highest market share in global optic nerve disorder treatment market due to increasing number of approval of drug by U.S FDA. In 2019, Alexion Pharmaceutical, Inc. received approval of the SOLIRIS drug by U.S. Food and Drug Administration (FDA), for the treatment of neuromyelitis optica spectrum disorder (NMOSD) in adult patients, who are anti-aquaporin-4 (AQP4) antibody positive. In addition, about 73% of patient suffering from the Neuromyelitis Optica Spectrum Disorder (NMOSD) has responded positively for anti-AQP4 auto-antibodies. Moreover, Neuromyelitis optica spectrum disorder is mostly found in young women. In the U.S., most of the patient are recorded to be diagnosed with NMOSD. Furthermore, European Medicines Agency and Japanese Ministry of Health, Labor, and Welfare are trying to assess applications of SOLIRIS for the treatment of NMOSD. These factors are expected to propel growth of the global optic nerve disorder treatment market.
Moreover, increasing prevalence of eye disorders in the region is another factor that is expected to drive growth of the optic nerve disorders treatment market. For instance, according to the American Academy of Ophthalmology, in 2019, around 7.32 million people is expected to suffer from the primary open-angle glaucoma (POAG), with the highest number among populations aged 70 to 79 years (32%), women (50%), and Hispanics (50%).
Global Optic Nerve Disorders Treatment Market Competitive Analysis –
Key players operating in the global optic nerve disorder treatment market include Santen Pharmaceutical Co., Ltd., Allergan plc, Novartis International AG, Pfizer, Inc., Bausch Health Companies, Inc., Aerie Pharmaceuticals, Inc., Teva Pharmaceutical Industries Ltd., Bionure Farma, S.L., and Mallinckrodt Pharmaceuticals.
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Market Taxonomy:
On the basis of drug class, the global optic nerve disorders treatment market is segmented into:
- Steroids
- Analgesics
- Parasympathomimetics
- Beta-blockers & Alpha-adrenergic Agonists
- Carbonic Anhydrase Inhibitors
- Others
On the basis of distribution channel, the global optic nerve disorders treatment market is segmented into:
- Hospital Pharmacies
- Clinics
- Retail Pharmacies
- Online Pharmacies
On the basis of region, the global optic nerve disorders treatment market is segmented into:
- North America
- Latin America
- Europe
- Middle East
- Asia Pacific
- Africa
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