Optic Nerve Disorders Treatment Global Market Report 2024

The global optic nerve disorders treatment market has grown strongly in recent years. It will grow from $3.59 billion in 2023 to $3.81 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to targeted therapies, telemedicine expansion, patient empowerment, global collaborative research.

The global optic nerve disorders treatment market is expected to see strong growth in the next few years. It will grow to $4.67 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to personalized medicine, telemedicine and remote procedures, patient education and awareness, reimbursement policies. Major trends in the forecast period include artificial vision and bionic eye devices, optic nerve regeneration, integration of ai in ophthalmology, community-based vision programs.

The surge in the prevalence of eye disorders is set to propel the expansion of the optic nerve disorder treatment market in the foreseeable future. Eye disorders encompass a range of illnesses or conditions that affect the various components and tissues of the eyes. Optic nerve disorder treatment plays a crucial role in aiding patients afflicted with eye disorders, particularly in treating conditions like glaucoma by either slowing down or preventing further damage to the optic nerve. For instance, in November 2022, the Centers for Disease Control and Prevention, a US-based government agency for public health, reported that over 3 million Americans were grappling with glaucoma. Furthermore, it is anticipated that this figure will escalate to 6.3 million by 2050. Hence, the upswing in the incidence of eye disorders is fueling the growth of the optic nerve disorder treatment market.

The surge in the geriatric population is poised to be a driving force behind the expansion of the optic nerve disorder treatment market in the foreseeable future. This demographic encompasses elderly individuals, typically aged 65 and above. Within this group, optic nerve disorders emerge as a prevalent cause of vision impairment. Optic nerve disorder treatments play a crucial role in addressing the specific needs of this aging population, aiming to enhance vision, improve overall quality of life, and alleviate associated symptoms. For instance, a report released by the World Health Organization (WHO) in October 2022 highlighted that by the year 2030, one out of every six individuals worldwide is projected to be 60 years or older. Looking further ahead, by 2050, the global population of individuals aged 60 and above is expected to reach a staggering 2.1 billion. Furthermore, the number of individuals aged 80 years or older is set to increase by 426 million between 2020 and 2050, compared to current figures. Hence, the rising geriatric population stands as a pivotal factor driving the growth of the optic nerve disorder treatment market.

The anticipated high treatment costs are poised to impede the growth of the optic nerve disorder treatment market in the foreseeable future. The expenses associated with treating optic nerve disorders can be substantial, presenting a significant barrier for patients in accessing the necessary care. For instance, in April 2022, a report from Clinicspot, a healthcare company based in India, revealed that in India, the typical cost range for glaucoma surgery spans from $3.6 to $950 (Rs. 3000 to Rs. 75,000), contingent on various individualized factors. Consequently, the exorbitant treatment expenses represent a formidable hurdle for the optic nerve disorder treatment market.

Prominent players in the optic nerve disorder treatment market are strategically introducing innovative generic products to fortify their market position. A generic drug is one that is not branded but shares similarity in dosage, administration, and performance with a branded or reference-listed drug. For instance, in March 2021, Teva Pharmaceuticals USA Inc., a US-based pharmaceutical company, announced its FDA approval for the first generic version of AZOPT (brinzolamide ophthalmic suspension) 1%. This approval from the United States Food and Drug Administration (FDA), a federal agency, marked a significant milestone. Brinzolamide ophthalmic suspension 1% is a prescription drug designed to address elevated eye pressure in individuals with ocular hypertension or open-angle glaucoma, achieved by reducing the quantity of fluid within the eye.

In March 2021, Horizon Therapeutics PLC, a US-based biotechnology company, completed the acquisition of Viela Bio Inc. for a total of $3 billion. This strategic move is intended to bolster Horizon's research and clinical development capacities, augment its mid-stage biologics pipeline, and enhance its profound scientific expertise in autoimmune and severe inflammatory diseases. Viela Bio Inc., a clinical-stage biotechnology company based in the US, specializes in the development of therapies and medications for individuals grappling with autoimmune and severe inflammatory conditions, including those that impact the optic nerve.

Major players in the optic nerve disorders treatment market are Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck and Co. Inc., Novartis AG, Regeneron Pharmaceuticals Inc., Alcon Inc., Sun Pharmaceutical Industries Limited, Bausch + Lomb Corporation, Horizon Therapeutics Inc., Santen Pharmaceutical Co. Ltd., Allergan Inc., Akorn Inc., Ionis Pharmaceuticals Inc., Lumenis Ltd., Glaukos Corporation, Nidek Co. Ltd., Aerie Pharmaceuticals Inc., Spark Therapeutics Inc., IRIDEX Corporation, Kowa Company Limited, New World Medical Inc., Heidelberg Engineering GmbH, Editas Medicine Inc., Quark Pharmaceuticals Inc., iSTAR Medical SA, Neurotech Pharmaceuticals Inc., Nicox SA., GenSight Biologics S.A., Inotek Pharmaceuticals Co., Oculis Holding AG.

North America was the largest region in the optic nerve disorders treatment market in 2023. The regions covered in optic nerve disorders treatment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the optic nerve disorders treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of treatment for optic nerve disorders include immunomodulator therapy, steroidal therapy, and other approaches. Immunomodulator therapy involves the use of medications that either enhance or suppress the immune response, thereby enabling the immune system to function more effectively. This form of treatment is indicated for conditions such as glaucoma, optic neuritis, optic neuropathy, congenital optic atrophy, among others. These treatments are administered across various healthcare settings including hospitals, ambulatory surgery centers, clinics, and other medical facilities.

This report provides optic nerve disorder treatment market statistics, including optic nerve disorder treatment industry global market size, regional shares, competitors with an optic nerve disorder treatment market share, detailed optic nerve disorder treatment market segments, market trends and opportunities and any further data you may need to thrive in the optic nerve disorder treatment industry. This optic nerve disorder treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The optic nerve disorders treatment market consists of revenues earned by entities through surgical interventions, plasma exchange therapy and gene therapy. The market value includes the value of related goods sold by the service provider or included within the service offering. The optic nerve disorders treatment market also includes sales of corticosteroids, antibiotics and vitamin supplements that are used in providing optic nerve disorders treatment services. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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