Global Optic Neuritis Market, By Type (Oral Corticosteriods, Intravenous Corticosteriods), Applications (Paediatric Use, Geriatric Use), End-User (Hospitals, Research Institutes, Specialty Clinics), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, online Pharmacies and Others) – Industry Trends and Forecast to 2030.
Optic Neuritis Market Analysis and Size
About 40% to 50% patients with multiple sclerosis (MS) develop optic neuritis and about 30% of optic neuritis sufferers show signs of multiple sclerosis. A latest research showed by NCBI in 2021, found that the risk of optic neuritis is higher in people between the ages of 20 to 40. The intravenous route is projected to create a global demand for optic neuritis treatment.
Data Bridge Market Research analyses a growth rate in the optic neuritis market in the forecast period 2023-2030. The expected CAGR of optic neuritis market tend to be around 5% in the mentioned forecast period. The market was valued at USD 204.9 million in 2022, and it would grow upto USD 302.7 million by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Optic Neuritis Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Oral Corticosteriods, Intravenous Corticosteriods), Applications (Paediatric Use, Geriatric Use),End-User (Hospitals, Research Institutes, Specialty Clinics), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, online Pharmacies and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Aerie Pharmaceuticals, Inc. (U.S.), Abbvie, Inc (U.S.), Bausch Health Companies Inc. (Canada.), Merck & Co. Inc. (U.S.), Pfizer Inc. (U.S.), Teva Pharmaceutical Industries Ltd. (Israel), EyePoint Pharmaceuticals, Inc (U.S.) Amorphex Therapeutics Holdings, Inc (U.S.), Kubota Vision Inc (U.S.), Alcon Vision LLC (Switzerland), Ellex Medical (Australia), Lumenis Be Ltd (Israel), Acorn Biomedical, Inc (U.S.), Astellas Pharma Inc (Japan), Glenmark Pharmaceuticals Ltd (India), Bayer AG (Germany), and Novartis AG (Switzerland)
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Market Opportunities
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Market Definition
Optic neuritis is a kind of nerve damage that occurs because of high level of blood sugar in the body. The symptoms can initiate from pain, numbness in legs and feet, to urinary tract, blood vessels and heart. It is a type of diabetes complication which may affect people with diabetes. Optic neuritis is a serious and common complication of long term type 1 and type 2 diabetes.
Optic Neuritis Market Dynamics
Drivers
- Rising Demand of Therapy Segment
There are different types of therapy that increases the demand of the market. Steroidal therapy includes corticosteroid drugs, which have proven efficient for many years. This segment is anticipated to show major market share, due to its proven efficacy and increasing availability across the globe. Supplementary therapy, on the other hand, includes vitamin supplementation therapy with vitamin B12. Immunomodulators therapy involves disease modifying agents, such as interferons beta1a and beta1b that are found to be beneficial in the treatment of optic neuritis and multiple sclerosis.
Opportunities
- Growth in Smoking and Lifestyle Changes
Cigarette smoking is one of the top causes of preventable disease and death in the U.S. It results for more than 480,000 deaths each year. Additionally, the lifestyle changes that are attained by today’s population such as unhealthy lifestyle, poor diet, stress and many such factors altogether contribute to the developing opportunities of the market.
- Increasing Incidence of Optic neuritis
Optic neuritis disease can occur at any age, but many of the cases occur in women who are between the age group of 20 to 40 years. In addition to this, as per the Optic Neuritis Foundation Inc, an estimation of 15-20% of the people suffering from optic neuritis are expected to end up suffering from multiple sclerosis.
Restraints/Challenges
- Increase in stringent regulatory policies
The strict regulatory policies is set to impede the global optic neuritis market growth during the forecast period. The strict regulations, delays in Food and Drug Administration certifications, product recalls, and other similar issues may further impede the growth of this industry.
- High Cost of Treatment
The enormous expenditure which is required for the treatment processes hamper the market growth. Several market players make huge investment in manufacturing new and advanced treatment procedures to faster the recovery process and in return the cost is increased. For instance, developing new drug treatments for a disease costs $314 million to $2.8 billion, will impede the market during the forecast period.
This optic neuritis market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the optic neuritis market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Optic Neuritis Market Scope
The optic neuritis market is segmented on the basis of type, application, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Oral Corticosteriods
- Intravenous Corticosteriods
Applications
- Paediatric Use
- Geriatric Use
End-User
- Hospitals
- Research Institutes
- Specialty Clinics
Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacies
- Others
Global Optic Neuritis Market Regional Analysis/Insights
The optic neuritis market is analyzed and market size insights and trends are provided by type, application, distribution channel and end-user as referenced above.
The major countries covered in the optic neuritis market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market due to the presence of key manufacturers of the product is high and, increasing research and development activities.
Asia-Pacific is expected to account for the largest market share in the coming years for the optic neuritis market due to increased new research and developments on optic neuritis market.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Optic Neuritis Market Share Analysis
The optic neuritis 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 neuritis market
Key players operating in the optic neuritis market include:
- Aerie Pharmaceuticals, Inc. (U.S.)
- Abbvie, Inc (U.S.)
- Bausch Health Companies Inc. (Canada)
- Merck & Co. Inc. (U.S.)
- Pfizer Inc. (U.S.)
- Teva Pharmaceutical Industries Ltd. (Israel)
- EyePoint Pharmaceuticals, Inc (U.S.)
- Amorphex Therapeutics Holdings, Inc (U.S.)
- Kubota Vision Inc (U.S.)
- Alcon Vision LLC (Switzerland)
- Ellex Medical (Australia)
- Lumenis Be Ltd (Israel)
- Acorn Biomedical, Inc (U.S.)
- Astellas Pharma Inc (Japan)
- Glenmark Pharmaceuticals Ltd (India)
- Bayer AG (Germany)
- Novartis AG (Switzerland)
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