Optic Nerve Disorders Treatment Market- Global Market, Trends, Analysis and forecasts 2020-30 gives a brief idea on the key developments, business strategies, research & latest innovations and key events in the industry and market composition analysis.
The Global Optic Nerve Disorders Treatment Market was worth US$ 8.5 billion in 2019 and is expected to reach US$ 14.1 billion by 2030 at a CAGR of 4.8%. Optic nerve and retina are two most important parts of the eye that are involved in the image capturing mechanism. Optic Nerve Disorders are caused due to factors such as Multiple Sclerosis (MS), trauma to the eye Optic neuritis and glaucoma. Multiple Sclerosis is more common in the old age population due to reduced immunity levels but also can be caused by diabetes, smoking, infections etc. Glaucoma condition occurs due to the increase in the pressure of the eye fluid level. Optic nerve damage can be caused due to aging too. Aging of individual occasionally tends to weaken the optic nerve. Optic neuritis condition occurs due to the inflammation of the optic nerve and it is treated with steroids, generally, to avoid further complications. The treatment for optic nerve disorders include, eye drops, steroids, intravenous immunoglobin and vitamin B12 injection. The eye drops are the most basic and extensively used treatment method.
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Rising Awareness Regarding Optical Health and Increasing Number of Drug Approvals
The Optic Nerve Disorders treatments are not permanent relief providing. They do not help to regain vision. These treatments are followed to prevent further vision loss. This makes it a potential factor for repetitive selling of the market products. The driving forces behind the potential growth of market would be increase in the number of Optical disorders. Some of the other factors fuelling the market growth include rising awareness regarding optical health and importance of regular eye-check-ups. The initiatives taken by the government and the Non- governmental sector also helps in creating this awareness which in turn acts as a potential driving force for the market.
Increase in the number of drug approvals given by the U.S. Food & Drug Administration (FDA) for the new drugs is anticipated to fuel the growth of the optic nerve disorders treatment market. There is an increase in the number of patients affected by lifestyle disorders such as diabetes, blood pressure, hypertension etc. which also tends to affect the health of optic nerve, and in turn provides scope for the Optic Nerve Disorders Treatment Market.
Hospitals and Clinics are higher revenue generating category
There is an increase in the number of patients suffering from optical nerve disorders globally, which creates a great demand for advanced Optical Nerve disorder treatments. The treatments are extensively provided to patients in hospitals and in solo clinics, which make one of the high revenue generation end- user of the Optical Nerve Disorder Treatment Market. Pharmacies and retail stores are the places where the eye drops experience the highest demand. Rising investment in the research laboratories of the healthcare sector by several firms also serves as a driving force for the market to strive. There is increased investments in order to bridge the gap between demands and the availability of advanced treatments.
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North America dominates the global market for Optical Nerve Disorder Treatment
On basis of geographical region, the global Optic Nerve Disorder Treatment Market can be divided into North America, South America, Europe, Middle East & Africa (MEA) and Asia-Pacific. North America and Europe have the biggest scope for Optical Nerve Disorder Treatment Market. This is because of the awareness regarding optical healthcare, increasing healthcare funding and better healthcare infrastructure in these countries.
The North America and the Europe regions are closely followed by the Asia-Pacific market. The Asia-Pacific is the densely populated region and has some of main fastest growing markets such as Japan, India and China. In Europe, countries such as Germany, UK, France, Spain, and Italy are anticipated to have a moderate growth of Optic Nerve Treatment market. Australia also has a great scope for the Optical Nerve Disorder Treatment market due to technology advancements and rise in the number of research centres.
Key Players Operating in Global Optical Nerve Disorder Treatment Market
Key players of the optical nerve disorder treatment global market are Allergan plc., Mallinckrodt Pharmaceuticals, Novartis AG, Santen Pharmaceutical Co. Ltd., Bausch Health Companies Inc., Pfizer, Inc., Teva Pharmaceutical Industries Ltd., Aerie Pharmaceuticals, Inc. and Bionure Farma, S.L.
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