The global optic neuropathy management market is on a trajectory for substantial expansion, with forecasts suggesting a rise from USD 4.3 billion in 2023 to a remarkable USD 7 billion by 2033. This growth represents a robust compound annual growth rate (CAGR) of 5%, a notable increase from the 3.2% CAGR observed between 2018 and 2022.
Optic neuropathy, a serious condition that significantly impairs vision, can arise from a variety of causes, including diabetes, multiple sclerosis, glaucoma, trauma, infection, and genetic factors. As these underlying health conditions become more prevalent—particularly among the aging global population—the incidence of optic neuropathy is also rising.
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As the demographic of older individuals expands, the demand for innovative and effective optic neuropathy treatments is set to rise. This demographic shift is a key driver of market growth, highlighting the urgent need for advancements in the management of this debilitating condition.
The market’s strong growth trajectory underscores the importance of continued research and development in optic neuropathy treatments, as well as the need for healthcare systems worldwide to prepare for increasing patient needs.
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 USD 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
About Future Market Insights (FMI)
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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