The optic neuropathy management market is projected to reach a market size of US$ 4.3 billion in 2023 and US$ 7 billion by 2033, growing at a CAGR of 5% during that time. From 2018 to 2022, the market for managing optic neuropathy experienced a CAGR of 3.2%. 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 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
“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
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Market Competition:
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.
Key Segments Profiled in the Optic Neuropathy Management Industry Survey:
Drug Class:
- Corticosteroids
- Antimetabolites
- Anticoagulants
- Serotonin and Norepinephrine Reuptake Inhibitors
- Nonsteroidal Anti-Inflammatory Drugs
Route of Administration:
- Oral
- Injectable
Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Drug Stores
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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