Neurotrophic Keratitis Treatment Global Market Report 2024

The global neurotrophic keratitis treatment market has grown strongly in recent years. It will grow from $4.7 billion in 2023 to $5.1 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to increased diagnoses, increasing injury and surgical procedures, rising research and development, global healthcare infrastructure.

The global neurotrophic keratitis treatment market is expected to see strong growth in the next few years. It will grow to $6.82 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to educational initiatives, increasing clinical trials, advanced therapies, regulatory approvals. Major trends in the forecast period include improved diagnostic tools, digital health solutions, neuroprotection strategies, advanced ocular surface imaging.

The escalating incidence of eye conditions is anticipated to drive the expansion of the neurotrophic keratitis treatment market in the foreseeable future. Eye conditions encompass a wide spectrum of medical issues and disorders affecting the structure and functionality of the eyes. Neurotrophic keratitis treatment plays a crucial role in enhancing corneal sensation, fostering healing, averting infections, and alleviating pain and discomfort. For example, in March 2022, as reported by Eye Care One, a US-based platform for eyecare career development services, an estimated 35 million individuals in the United States were projected to experience dry eye disease (DED) in 2022, with prevalence expected to increase annually. Additionally, in March 2021, as per data from the Eyes of the World Foundation, a non-profit organization based in Spain, it was predicted that there would be 1.1 billion people experiencing vision loss in 2021, a number projected to rise to 1.7 billion by 2050. Hence, the mounting incidence of eye conditions is steering the growth of the neurotrophic keratitis treatment market.

The surge in healthcare investments, particularly in the domain of eye care, is anticipated to be a driving force behind the expansion of the neurotrophic keratitis treatment market in the foreseeable future. These investments involve directing financial resources towards bolstering the development, enhancement, and availability of medical services and treatments, with a special emphasis on addressing vision-related health requirements. Such investments hold significant potential in propelling the advancement of neurotrophic keratitis treatment. They have the capacity to pave the way for groundbreaking therapies and the development of pharmaceuticals, ultimately leading to improved outcomes for patients and an elevated quality of life for those grappling with this condition. For instance, in March 2023, the Centers for Disease Control and Prevention (CDC), a prominent U.S. national public health agency, reported that their budget request for FY 2023 to Congress encompassed a comprehensive funding package of $10.675 billion. This funding was allocated across discretionary budget authority, Public Health Service (PHS) Evaluation Funds, and the Prevention and Public Health Fund (PPHF). Notably, the CDC's FY 2023 President's Budget specifically earmarked $1,000, while the operating plan allotted $2,500 towards vision and eye health initiatives. This substantial financial commitment underscores the escalating investments in healthcare, particularly in the realm of eye care, and is a driving force behind the expansion of the neurotrophic keratitis treatment market.

Rising treatment expenses are anticipated to impede the neurotrophic keratitis treatment market in the future. The costs associated with treating neurotrophic keratitis (NK) have risen, largely attributed to the introduction of advanced therapies like Cenegermin (Oxervate), a medication containing recombinant human nerve growth factor (rhNGF). For instance, in March 2022, the National Center for Biotechnology Information (NCBI), a US-based organization specializing in biomedical research and information, reported that in Germany, the total cost of an eight-week course of Cenegermin 20 mg/ml therapy is approximately $21.20 USD (20.000 EURO). This is nearly 25 times pricier than a 16-week supply of autologous serum eye drops, six times more costly than amniotic membrane transplantation (AMT), and three times the expense of penetrating keratoplasty (PK) in Germany. As a result, the escalating treatment expenses are acting as a constraint on the neurotrophic keratitis treatment market.

Prominent companies in the neurotrophic keratitis treatment market are actively engaged in the development and approval of innovative drugs to fortify their market presence. Drug development holds significant importance in the treatment of neurotrophic keratitis, given the existing limitations in available treatments and the pressing need for more effective solutions to halt the disease's progression. A case in point is BRIM Biotechnology Inc., a clinical-stage company based in Taiwan, which secured Orphan Drug Designation (ODD) from the U.S. Food and Drug Administration (FDA) for BRM424, a recombinant human nerve growth factor. This compound stimulates the proliferation and differentiation of corneal limbal stem cells, facilitating the regeneration and restoration of corneal health in patients afflicted with neurotrophic keratitis.

In July 2022, Regenerx Biopharmaceuticals Inc., a US-based clinical-stage drug development company, along with its joint venture and licensee partner, HLB Therapeutics Co. Ltd., a biotechnology company based in South Korea, entered into a letter of intent with a global ophthalmology contract research organization (CRO). This collaboration is focused on conducting Phase III clinical trials in the US and Europe for the treatment of neurotrophic keratitis (NK). RGN-259, a sterile and preservative-free eye drop formulation containing thymosin beta 4, a naturally occurring peptide that facilitates tissue repair and healing, is the subject of evaluation. The Phase III clinical trial will assess the efficacy and safety of RGN-259 ophthalmic solution in promoting the healing of persistent epithelial defects in patients with Stages 2 and 3 neurotrophic keratopathies.clinical-stage drug development company.

Major players in the neurotrophic keratitis treatment market are Eyevance Pharmaceuticals LLC, Grand Pharma Co. Ltd., Walgreen Co., Pfizer Inc., Johnson and Johnson, Bayer AG, Novartis AG, Abbott Laboratories, Gilead Biosciences Inc., Merck and Co. Inc., Allergan Inc., Alcon Inc., Bausch Health Companies Inc., Bausch & Lomb Inc., CooperVision Inc., Rohto Pharmaceutical Co. Ltd., Santen Pharmaceutical Co. Ltd., Zhejiang Conba Pharmaceutical Co. Ltd., Glenmark Pharmaceuticals Limited, Dompe farmaceutici S.p.A, Aurolab, Ocular Therapeutix Inc., Laboratoires Thea SAS, Leadiant Biosciences Inc., ReGenTree LLC, Contacare Opthalmic Private Limited, Neuroptika Inc., Surgitech Innovation Private Limited.

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

The main approaches of neurotrophic keratitis treatment are employed in neurotrophic keratitis treatment, including topical antibiotics, recombinant human nerve growth factor (rhNGF), amniotic membrane transplantation, keratoplasty, among others. Topical antibiotics are antimicrobial drugs administered directly to the skin or mucous membranes. They can be administered through various routes, such as oral, topical, and others, catering to stages I, II, and III of neurotropic keratitis. These treatments are utilized by different end-users, including hospitals, homecare, specialty clinics, among others.

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

The neurotrophic keratitis treatment market consists of revenues earned by entities by providing services such as ophthalmic evaluation, prescription of medications, corneal neurotization, customized treatment plans, counseling and support, tarsorrhaphy and antibiotic medication supplements. The market value includes the value of related goods sold by the service provider or included within the service offering. The neurotrophic keratitis market also includes sales of artificial tears, recombinant human nerve growth factor eye drops, antibiotics and bandage contact lenses. 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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