According to Vision Research Reports, the optic nerve disorders treatment market size was valued at US$ 14.51 Bn in 2020 and to reach valuation US$ 20 billion by 2028 with a CAGR of .24% during the forecast period from 2021 to 2028.
Optic nerve disorders treatment comprise medications and surgery, which treat optic nerve disorders (glaucoma, optic neuritis, and other related disorders). The optic nerve is a bundle of more than 1 million nerve fibers that carry visual messages. Damage to an optic nerve can cause vision loss depending on severity of damage to the optic nerve. Optic nerve disorders are a group of disorders related to optic nerves caused due to damage to optic nerves, which can lead to vision loss or eventually complete blindness.
Growth of the optic nerve disorders treatment market can be ascribed to increase in prevalence of optic nerve disorders and other related eye disorders across the globe. North America dominated the optic nerve disorders treatment market in 2018 and is projected to continue its dominance during the forecast period, owing to the rise in the number of prescriptions for glaucoma treatment in the region and high prevalence of optic nerve disorders.
Rise in Prevalence of Eye Disorders in Geriatric Population to Drive Optic Nerve Disorders Treatment Market
Growing prevalence of different eye disorders, which are rising due to optic nerve damage is a major factor responsible for the growth of the optic nerve disorders treatment market. Rise in aging population, which is more prone to ophthalmic problems, such as low sight vision is also a prime factor responsible for the expansion of the optic nerve disorders treatment market. According to National Institutes of Health, population aged 65 and above in the U.S. is projected to nearly double in the next three decades, from 48 million to 88 million by 2050. Moreover, high adoption rate of digital devices is also fueling the expansion of the optic nerve disorders treatment market due to adverse impact on vision.
Innovations in Corticosteroids Meet Post Ocular Surgery Requirements
Innovations in topical ocular corticosteroids are proving to be beneficial for patients in the management of pain and inflammation post ocular surgery. However, limitations of these corticosteroids, such as limited bioavailability and class-associated adverse events (AE) are some of the barriers that companies in the optic nerve disorders treatment market have to counter. Hence, manufacturers in the optic nerve disorders treatment market are educating healthcare providers about drug-specific variables of topical ocular corticosteroids, such as AE profile, potency, and patient-specific administration needs for better outcomes in patients.
Companies in the market for optic nerve disorders treatment are aiming at minimizing precorneal drug loss and maximizing drug delivery to the anterior tissues with the help of improved corticosteroid formulations. They are adopting various strategies to enhance ocular penetration by including mucoadhesive formulations in the development of new corticosteroids. Strategies, such as drug-particle size reduction enable faster drug dissolution, which increases bioavailability and penetration. Hence, companies in the optic nerve disorders treatment market are increasing the production capacities of loteprednol etabonate corticosteroids using retrometabolic drug design.
Companies Focus on Unmet Needs of NMOSD Patients in Europe
New drugs for rare neurologic eye diseases are being extensively researched for the treatment of MS and neuromyelitis optica. Striking correlation between neurologic diseases and rare eye conditions have opened the doors for innovation in the optic nerve disorders treatment market.
On the other hand, terminal complement inhibitors are under scrutiny of the European and Japanese health commissions. As such, companies are focusing to extend their product portfolios into Europe and Japan, since the two regions are projected for exponential growth during the forecast period. For instance, in June 2019, Alexion — a U.S. pharmaceutical company, announced that the European Medicines Agency and Japanese Ministry of Health, Labor and Welfare are assessing applications of SOLIRIS® for the treatment of neuromyelitis optica spectrum disorder (NMOSD).
The optic nerve disorders treatment market in Europe is expected to reach a value of ~US$ 4.2 Bn. Thus, manufacturers in the market for optic nerve disorders treatment are focusing on meeting the needs of patients in Europe, since NMOSD is a rare disease.
Advancements in Beta Interferons Benefit MS Patients
High prevalence of multiple sclerosis (MS) patients is one of the key drivers for the growth of optic nerve disorders treatment market. Hence, manufacturers are increasing production capabilities to develop immunosuppressive drugs that improve quality of life in patients. For instance, in September 2019, Swiss multinational healthcare company Roche revealed its proceedings on trials for OCREVUS® — an immunosuppressive drug, to understand its effects in relapsing and progressive MS.
Companies in the optic nerve disorders treatment market are increasing trials of immunosuppressive drugs with beta interferons to provide relief to MS patients. As such, the beta interferons sub-segment of the pharmacological treatment segment is estimated to reach a value of ~US$ 2.5 Bn by 2027. Hence, manufacturers in the optic nerve disorders treatment market are increasing production capabilities in beta interferons, since pharmacological treatment segment is anticipated for aggressive growth during the forecast period. Moreover, the neurofilament light chain-lowering capabilities of beta interferons are increasingly benefitting MS patients.
High Demand for Pharmacological Treatment
In terms of treatment type, the optic nerve disorders treatment market has been bifurcated into pharmacological treatment and surgery. Pharmacological treatment dominated the optic nerve disorders treatment market in 2018. This segment is expected to dominate during the forecast period due to low cost and better efficacy of different medications. The pharmacological treatment segment has been further divided into prostaglandins, beta interferons, beta blockers, alpha-adrenergic agonist, carbonic anhydrase inhibitors, corticosteroids, combination drugs, and others.
Prostaglandins accounted for a major share of the pharmacological treatment segment. Rise in demand for prostaglandins as a first line treatment option in glaucoma and increase in the number of prescriptions of this class are some of the major factors impacting the prostaglandins segment.
Glaucoma to be a Major Indication
In terms of indication, the optic nerve disorders treatment market has been segmented into glaucoma, optic neuritis, optic neuropathy, and others. Glaucoma segment dominated the global market and is likely to expand at a high CAGR during the forecast period, owing to rise in prevalence of glaucoma and launch of effective combination products for glaucoma.
Rise in Number of Hospital Admissions for Ophthalmologic Problems
Based on end user, the optic nerve disorders treatment market has been divided into hospitals, ambulatory surgery centers, clinics, and others. Hospitals segment is expected to account for major share during the forecast period. Increase in the number of hospital admissions and ability of hospitals to provide optimum health care services to patients are some of the major driving forces for the expansion of the hospitals segment. Clinics segment is also projected to be a lucrative segment during the forecast period, owing to the increase in the number of ophthalmic clinics in developed as well as developing regions and inclination of patients to avail treatment in specialized clinics for treatment of diseases.
North America to Dominate Global Market
In terms of region, the optic nerve disorders treatment market has been divided into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a major share of the optic nerve disorders treatment market in 2018 and is projected to remain dominant during the forecast period. High prevalence of optic nerve disorders and a favorable reimbursement scenario for surgeries are some of the factors responsible for the dominance of North America in the optic nerve disorders treatment market. Asia Pacific is a more lucrative market for optic nerve disorders treatment. The market in Asia Pacific is projected to expand at a high CAGR during the forecast period, due to increase in geriatric population, rise in prevalence of glaucoma, and availability of generic drugs.
The optic nerve disorders treatment market is fragmented in terms of number of players. Key players in the global market include Santen Pharmaceutical Co., Ltd., Allergan plc. Novartis AG, Pfizer, Inc., Bausch Health Companies, Inc., Aerie Pharmaceuticals, Inc., Teva Pharmaceutical Industries Ltd., Bionure Farma, S.L., and Mallinckrodt Pharmaceuticals. Novartis AG, Allergan plc., and Santen Pharmaceutical Co., Ltd. are some of the leading players in the global market. New product launches, higher R&D investment, and strategic partnership for mergers, acquisitions, distribution, and a widespread distribution channel are some of the key strategies adopted by major players operating in this market.
By Treatment Type
By End User
The Optic nerve disorders treatment market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Optic nerve disorders treatment market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Optic nerve disorders treatment market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Optic nerve disorders treatment market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Optic nerve disorders treatment market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Optic nerve disorders treatment capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Optic nerve disorders treatment by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Optic nerve disorders treatment market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Optic nerve disorders treatment market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Optic nerve disorders treatment market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Optic nerve disorders treatment industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Optic nerve disorders treatment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Optic nerve disorders treatment market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Optic nerve disorders treatment market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Optic nerve disorders treatment market. These factors have benefited the growth of the global market for Optic nerve disorders treatment. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Optic nerve disorders treatment. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Optic nerve disorders treatment are as follows:
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- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are: