U.S. Optic Neuritis Market, By Treatment (Corticosteroids, IV Immunoglobulin, Supplements, and Others), Diagnosis (MRI Scan, Lumbar Puncture, Occular Coherence Tomography, Blood Test, and Others), Route of Administration (Parenteral, and Oral), End User (Hospitals, Clinics, Academics & Research Institutes, and Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Others). Industry Trends and Forecast to 2029.
U.S. Optic Neuritis Market Analysis and Size
The growing prevalence of eye disorders in the region and the rise in the geriatric population has enhanced the demand of the market. The rising healthcare expenditure for better health services is also attributed to the growth of the market. The major market players are highly focused on product launches and approvals during this crucial period. In addition, the government and regulatory bodies are supporting market players by product approval due to the surging emergence.
The U.S. optic neuritis market is expected to reach USD 6.11 million by 2029 from USD 4.15 million in 2021, growing at a CAGR of 5.0% in the forecast period of 2022 to 2029.
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2015)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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By Treatment (Corticosteroids, IV Immunoglobulin, Supplements, and Others), Diagnosis (MRI Scan, Lumbar Puncture, Ocular Coherence Tomography, Blood Test, and Others), Route of Administration (Parenteral, and Oral), End User (Hospitals, Clinics, Academics & Research Institutes, and Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Others)
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Countries Covered
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U.S.
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Market Players Covered
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AbbVie Inc., Bausch & Lomb Incorporated, Boehringer Ingelheim International GmbH, Novartis AG, Merck & Co., Inc., Hikma Pharmaceuticals PLC, Fresenius Kabi USA, Teva Pharmaceuticals Industries Ltd., GSK plc, Pfizer, Akorn Operating Company LLC, AdvaCare Pharma, Bristol- Myers Squibb Company, Jubilant Cadista Pharmaceuticals Inc., Amneal Pharmaceuticals LLC., Viatris Inc., and Novitium Pharma, among others. The pipeline companies that are in this market are Accure Therapeutics, Noveome Biotherapeutics, Inc., Biogen, Mallinckrodt, and Acorda Therapeutics, Sanofi, among others.
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Market Definition
Optic neuritis is characterized as a swelling or inflammation that occurs in the optic nerve. It is also commonly termed as optic papillitis and retro tubular neuritis. The optic nerves is a nerve fibres that has the capability of transmitting visual information from the eye to the brain. The inflammation usually leads to damage in the optic nerve and temporary vision loss in only one eye typically. Pediatric optic neuritis and adult optic neuritis and are two types which is based on the age group of patients diagnosed with optic neuritis. The common way to diagnose the optic neuritis is through a physical exam and medical history. The treatment becomes essential at an early stage due to the lifetime risk of losing human eye vision in this disorder. The most common symptoms associated with optic neuritis include pain with eye movement and dyschromatopsia or inability to see colors correctly. For instance, as per an article in the Journal of Neurology stated that the annual incidence of optic neuritis in the U.S. is found to be around 5/1,000,000, with an estimated prevalence of 115/1,000,000.
Optic Neuritis Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints, and challenges. All of this is discussed in detail as below:
Drivers
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Rising prevalence of eye disorders
With the increased prevalence and optic neuritis worldwide, there is an increase in the awareness about the disease. Therefore, rising patient awareness of optic neuritis is expected to act as a driver for the growth of the optic neuritis market.
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Rise in traumatic injuries
Another significant factor influencing the growth rate of the optic neuritis market is the increasing prevalence of the disease in the region.
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Increase in aging population
An increase in the aging population, rise in the multiple sclerosis patient pool, growing awareness, and affordable prices are the major factors propelling the market.
Opportunities
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Strategic initiatives of key players
The dramatic rise in the quality of research and increasing research opportunities is because of various strategic initiatives taken by the key market players in the optic neuritis market. They are taking initiatives such as product launches, collaborations, mergers, acquisitions, and many more over the years and are expected to lead and create more opportunities in the market.
Also, the rise in healthcare expenditure will provide structural integrity and future opportunities for the optic neuritis market in the forecast period of 2022-2029.
Restraints/Challenges
- High cost associated with optic nerve disorders treatment
However, the high cost of therapies and side effects and complications of various drugs and therapies will impede the growth rate of the optic neuritis market. Additionally, stringent rules and regulations will further challenge the market in the forecast period mentioned above.
This optic neuritis market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the 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. For more info on the optic neuritis market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you to make an informed market decision to achieve market growth.
Recent Development
Sanofi is recently working on a single oral doses study of nerispirdine on visual function in patients with multiple sclerosis.
The U.S. Optic Neuritis Market Scope
The U.S. optic neuritis market is segmented into treatment, diagnosis, route of administration, end users, and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Treatment
- Corticosteroids
- IV Immunoglobulin
- Supplements
- Others
On the basis of treatment, the U.S. optic neuritis market is segmented into corticosteroids, IV Immunoglobulin, Supplements, and Others.
Diagnosis
- MRI Scan
- Lumbar Puncture
- Ocular Coherence Tomography
- Blood Test
- Others
On the basis of diagnosis, the U.S. optic neuritis market is segmented into MRI scans, lumbar puncture, ocular coherence tomography, blood test, and others.
Route of Administration
- Parenteral
- Oral
On the basis of route of administration, the U.S. optic neuritis market is segmented into parenteral, and oral.
End User
- Hospitals
- Clinics
- Academic & Research Institutes
- Others
On the basis of end-user, the U.S. optic neuritis market is segmented into hospitals, clinics, academic and research institutes, and others.
Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Others
On the basis of distribution channel, the U.S. optic neuritis market is segmented into hospital pharmacy, retail pharmacy, and others.
Optic Neuritis Market Regional Analysis/Insights
The optic neuritis market is analyzed, and market size insights and trends are provided by country, treatment, diagnosis, route of administration, end user, and distribution channel, as referenced above.
The U.S. dominates the optic neuritis market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to implementing awareness programs regarding the diagnosis and treatments of optic neuritis, and research and development in the drugs for optic neuritis in the U.S. region further improves this market growth.
The country section of the report also provides individual market-impacting factors and changes in regulations in the market that impact the current and future trends of the market. Data points, such as new and replacement sales, country demographics, disease epidemiology, and import-export tariffs, are some of the major pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of global brands and their challenges faced due to high competition from local and domestic brands, and the impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Optic Neuritis Market Share Analysis
The optic neuritis market competitive landscape provides details by the competitors. Details include 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, and application dominance. The above data points provided are only related to the companies' focus on the optic neuritis market.
Some of the major players operating in the optic neuritis market are AbbVie Inc., Bausch & Lomb Incorporated, Boehringer Ingelheim International GmbH, Novartis AG, Merck & Co., Inc., Hikma Pharmaceuticals PLC, Fresenius Kabi USA, Teva Pharmaceuticals Industries Ltd., GSK plc, Pfizer, Akorn Operating Company LLC, AdvaCare Pharma, Bristol- Myers Squibb Company, Jubilant Cadista Pharmaceuticals Inc., Amneal Pharmaceuticals LLC., Viatris Inc., and Novitium Pharma, among others. The pipeline companies that are in this market are Accure Therapeutics, Noveome Biotherapeutics, Inc., Biogen, Mallinckrodt, Acorda Therapeutics, and Sanofi, among others.
Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analysed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include the Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, U.S. vs. Regional, and Vendor Share Analysis. Please request an analyst call in case of further inquiry.
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