Global Optic Nerve Disorders Drugs Market: Overview
Optic nerve disorder is widely known as optic neuropathy, which is medical condition indicating at a gradual degeneration of the optic nerve. In most of the cases, degeneration of the optic nerve is hereditary, in some of the cases, it happens over time. Some of the probable reasons for such damage to optic nerve comprise toxic, ischemic, and nutritional ones. A large chunk of the patients affected with optic nerve disorder go for drugs rather than surgeries for the purpose of treatment, which is likely to fuel growth of the global optic nerve disorders drugs market over the timeframe of analysis, from 2020 to 2030.
These drugs come with minimum risk and are extremely cost effective, which makes them a preferred option amongst the patients. Drugs that are steroid based has been in use for quite some time for the treatment of optic nerve disorders, thanks to their high effectiveness in the easing of symptoms pertaining to disorders of optic nerve. Of late, patients have developed high confidence in these drugs with the inflow of various drugs and have been avoiding surgeries for the same. All these factors are likely to emerge as growth factors for the global optic nerve disorders drugs market over the timeframe of projection, from 2020 to 2030.
The global optic nerve disorders drugs market has been classified based on four significant parameters, which are end user, drug class, indication, and region. Such segmentation offers better insight into the market.
Global Optic Nerve Disorders Drugs Market: Notable Developments
The global optic nerve disorders drugs market has experienced some path-breaking, important developments over the last few years.
- In 2019, A Swiss specialty pharmaceutical company, Santhera Pharmaceuticals Holding, made an announcement of its successful completion of patient enrollments in the ‘Phase 1V’ study of (LEROS) utilizing Raxone® (idebenone) for the purpose of treatment of optic nerve disorders.
Some of the prominent companies in the global optic nerve disorders drugs market are mentioned below:
- Takeda Pharmaceutical Company
- Santhera Pharmaceuticals Holding
- Stealth BioTherapeutics Inc.
- Novartis AG
- Merck & Co., Inc., d.b.a.
- Quark Pharmaceuticals Inc.
Global Optic Nerve Disorders Drugs Market: Key Trends
The global optic nerve disorders drugs market is characterized by the prevalence of the following challenges, market drivers, and promising opportunities.
Increased Prevalence of Optical Nerve Disorder is Likely to Accentuate Demand in the Market
A rise in the number of cases of optic nerve disorders have generated high demand for drugs to treat this disorder, which is likely to pave way for the development of the global optic nerve disorders drugs market over the tenure of projection, from 2020 to 2030. Nearly 1.3 billion people suffer from some kind of vision impairment or the other, according to WHO (World Health Organization). Of all the possible causes, glaucoma is considered one of the leading causes of optical nerve disorder. These factors are likely to widen scope of growth of the global optic nerve disorders drugs market over the timeframe of analysis, from 2020 to 2030.
A surge in the demand for various non-invasive procedures in the optometric space is likely to generate favorable environment for the global optic nerve disorders drugs market in the years to come. Surgeries for the treatment of optical nerve disorder involve high cost and greater risk, which is why the global optic nerve disorders drugs market is likely to witness growth in the forthcoming years.
Global Optic Nerve Disorders Drugs Market: Geographical Analysis
In the global optic nerve disorders drugs market, North America is likely to dominate the market throughout the period of projection, from 2020 to 2030. Growth of the North America market is ascribed to the availability of excellent reimbursements and large incomes in the region. In addition to that, the government of the US supports the market with programs such as resources for macular degeneration and glaucoma, prescription assistance programs, and others.
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