Optic Nerve Disorders Treatment Market:
Introduction
According to the report, the optic nerve
disorders treatment market was valued at approximately ~US$
14.1 Bn in 2018. It is expected to expand at a CAGR of ~4% during
the forecast period from 2019 to 2027. Optic nerve disorders
treatment comprise medications and surgery, which treat optic nerve disorders
(glaucoma, optic neuritis, and other related disorders). The optic nerve is a
bundle of more than 1 million nerve fibers that carry visual messages. Damage
to an optic nerve can cause vision loss depending on severity of damage to the
optic nerve. Optic nerve disorders are a group of disorders related to optic
nerves caused due to damage to optic nerves, which can lead to vision loss or
eventually complete blindness.
Growth of the optic nerve disorders treatment market can be ascribed to
increase in prevalence of optic nerve disorders and other related eye disorders
across the globe. North America dominated the optic nerve disorders treatment
market in 2018 and is projected to continue its dominance during the forecast
period, owing to the rise in the number of prescriptions for glaucoma treatment
in the region and high prevalence of optic nerve disorders.
Rise in Prevalence of Eye Disorders in Geriatric
Population to Drive Optic Nerve Disorders Treatment Market
Growing prevalence of different eye disorders, which are rising due to
optic nerve damage is a major factor responsible for the growth of the optic
nerve disorders treatment market. Rise in aging population, which is more prone
to ophthalmic problems, such as low sight vision is also a prime factor
responsible for the expansion of the optic nerve disorders treatment market.
According to National Institutes of Health, population aged 65 and above in the
U.S. is projected to nearly double in the next three decades, from 48 million
to 88 million by 2050. Moreover, high adoption rate of digital devices is also
fueling the expansion of the optic nerve disorders treatment market due to
adverse impact on vision.
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High Demand for Pharmacological Treatment
In terms of treatment type, the optic nerve disorders treatment market
has been bifurcated into pharmacological treatment and surgery. Pharmacological
treatment dominated the optic nerve disorders treatment market in 2018. This
segment is expected to dominate during the forecast period due to low cost and
better efficacy of different medications. The pharmacological treatment segment
has been further divided into prostaglandins, beta interferons, beta blockers,
alpha-adrenergic agonist, carbonic anhydrase inhibitors, corticosteroids,
combination drugs, and others.
Prostaglandins accounted for a major share of the pharmacological
treatment segment. Rise in demand for prostaglandins as a first line treatment
option in glaucoma and increase in the number of prescriptions of this class
are some of the major factors impacting the prostaglandins segment.
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Glaucoma to be a Major Indication
In terms of indication, the optic nerve disorders treatment market has
been segmented into glaucoma, optic neuritis, optic neuropathy, and others.
Glaucoma segment dominated the global market and is likely to expand at a high
CAGR during the forecast period, owing to rise in prevalence of glaucoma and
launch of effective combination products for glaucoma.
Rise in Number of Hospital Admissions for
Ophthalmologic Problems
Based on end user, the optic nerve disorders treatment market has been
divided into hospitals, ambulatory surgery centers, clinics, and others.
Hospitals segment is expected to account for major share during the forecast
period. Increase in the number of hospital admissions and ability of hospitals
to provide optimum health care services to patients are some of the major
driving forces for the expansion of the hospitals segment. Clinics segment is
also projected to be a lucrative segment during the forecast period, owing to
the increase in the number of ophthalmic clinics in developed as well as
developing regions and inclination of patients to avail treatment in
specialized clinics for treatment of diseases.
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North America to Dominate Global Market
In terms of region, the optic nerve disorders treatment market has been
divided into five major regions: North America, Europe, Asia Pacific, Latin
America, and Middle East & Africa. North America accounted for a major
share of the optic nerve disorders treatment market in 2018 and
is projected to remain dominant during the forecast period. High prevalence of
optic nerve disorders and a favorable reimbursement scenario for surgeries are
some of the factors responsible for the dominance of North America in the optic
nerve disorders treatment market. Asia Pacific is a more lucrative market for
optic nerve disorders treatment. The market in Asia Pacific is projected to
expand at a high CAGR during the forecast period, due to increase in geriatric
population, rise in prevalence of glaucoma, and availability of generic drugs.
Competition Landscape
The optic nerve disorders treatment market is fragmented in terms of
number of players. Key players in the global market include Santen
Pharmaceutical Co., Ltd., Allergan plc. Novartis AG, Pfizer, Inc., Bausch
Health Companies, Inc., Aerie Pharmaceuticals, Inc., Teva Pharmaceutical
Industries Ltd., Bionure Farma, S.L., and Mallinckrodt Pharmaceuticals.
Novartis AG, Allergan plc., and Santen Pharmaceutical Co., Ltd. are
some of the leading players in the global market. New product launches, higher
R&D investment, and strategic partnership for mergers, acquisitions,
distribution, and a widespread distribution channel are some of the key
strategies adopted by major players operating in this market.
Global Optic Nerve Disorders Treatment Market:
Segmentation
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