Optic Neuropathy Management Market value of US$ 4.3 Billion in 2023, at a CAGR of 5% in the forecast period 2023 to 2033
According to Future Market Insights, the global Optic Neuropathy Management Market is expected to grow at a CAGR of 5% during the forecast period of 2023 to 2033. The condition can be caused by a variety of factors, including underlying medical conditions such as diabetes, multiple sclerosis, and glaucoma, as well as trauma, infection, and genetic factors.
The global optic neuropathy management market is expected to experience significant growth in the coming years, driven by several factors, including the increasing prevalence of optic neuropathy and underlying medical conditions, advances in technology and research, and growing awareness and understanding of the condition among healthcare providers and the general public.
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The increasing prevalence of these underlying medical conditions, particularly among the aging population, is contributing to a growing demand for innovative and effective treatments for optic neuropathy. In addition, advances in technology and research are leading to the development of new diagnostic tools and treatment options, including gene therapies, stem cell therapies, and neuroprotective agents, which are expected to improve outcomes for patients with optic neuropathy.
The market for optic neuropathy management is also being driven by the high level of awareness and understanding of the condition among healthcare providers and the general public. This has led to increased diagnosis rates and better management of the condition, which is contributing to improved patient outcomes.
Key Takeaways from the Market Study
- From 2018 to 2022, the optic neuropathy management market grew at a CAGR of 3.2%.
- The global optic neuropathy management market is expected to grow with a 5% CAGR from 2023 to 2033.
- As of 2033, the optic neuropathy management market is expected to reach US$ 7 Billion.
- According to the FMI analysis, the hospital pharmacies segment accounts for the largest market share.
- North America is expected to possess a 40% market share with respect to optic neuropathy management
- East & South Asia to collectively account for 1/5th of all optic neuropathy management procedures
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“A series of international level collaborations involving healthcare stakeholders across various institutional settings are fuelling further clinical trials and research studies dedicated to discovering optic neuropathy management,” says an FMI analyst
Key players in the market include companies such as Competition Deep Dive, AbbVie Inc., Eli Lily Company, GlaxoSmithKline, Pfizer Inc., Teva Pharmaceuticals, Bausch Health Companies Inc., F. Hoffmann-La Roche AG, Bayer AG, Sanofi A.S., Bristol-Myers Squibb and Company, along with healthcare providers and technology companies among other global players.
- In March 2023, Horizon Therapeutics plc released the findings of a study analyzing the real-world use of teprotumumab-trbw (Tepezza, Horizon Therapeutics) in treating Thyroid Eye Disease (TED) patients with dysthyroid optic neuropathy (DON).
- The study included a majority of patients who had previously not responded to other treatments. DON is a complication of TED that can result in vision loss due to the impairment of visual function caused by thyroid-related optic nerve compression. Teprotumumab-trbw is the only FDA-approved medication for treating TED, which is a rare autoimmune disease that is serious, progressive, and potentially vision-threatening.
More Insights Available
FMI, in its new offering, presents an unbiased analysis of the global optic neuropathy management market, presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study reveals essential insights on the basis of drug class (corticosteroids, antimetabolites, anticoagulants, serotonin & norepinephrine reuptake inhibitors, and nonsteroidal anti-inflammatory drugs), route of administration (oral and injectable) and distribution channel (hospital pharmacies, retail pharmacies online pharmacies and drug stores) across seven major regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa).
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Key Segments Profiled in the Optic Neuropathy Management Industry Survey
- Serotonin and Norepinephrine Reuptake Inhibitors
- Nonsteroidal Anti-Inflammatory Drugs
Route of Administration:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Drug Stores
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