Ischemic Optic Neuropathy Treatment Market

Global Market Study on Ischemic Optic Neuropathy Treatment: Anterior Ischemic Optic Neuropathy to Hold ¾ Market Share

  • June-2021
  • PMRREP23077
  • 223 Pages
  • Healthcare
  • PPT, PDF, WORD, EXCEL

Key Questions Answered in Report

What is the expected growth rate for the ischemic optic neuropathy treatment market through 2031?

By value, Persistence Market Research has projected close to 4% CAGR for ischemic optic neuropathy treatment during 2021-2031. The current market value is estimated to be around 193.8 Mn, and is set to be around US$ 194 Mn by 2031.

Which are the most lucrative markets for ischemic optic neuropathy treatment?

As per Persistence Market Research’s projections, the U.S., Canada, Germany and U.K. are expected to hold the highest share in the market. Together, North America and Europe are projected to hold more than 65% market share through 2031.

Who are the prominent manufacturers of ischemic optic neuropathy treatment products?

Top suppliers of ischemic optic neuropathy treatment include tier-1 companies such as GlaxoSmithKline plc., F. Hoffmann-La Roche Ltd, AbbVie Inc. (Allergan plc), and Bristol-Myers Squibb and Company, who account for approx. 25% of the market share.

Find Out More about the Report Coverage

Companies

  • AbbVie Inc.
  • Eli Lily Company
  • GlaxoSmithKline
  • Pfizer Inc.
  • Teva Pharmaceuticals
  • Bausch Health Companies Inc.
  • F. Hoffmann-La Roche AG
  • Bayer AG
  • Sanofi A.S.
  • Bristol-Myers Squibb and Company

Report Also Addresses:

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand Share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Ischemic Optic Neuropathy Treatment and How to Navigate
  • Recommendation on Key Winning Strategies

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Demand for Ischemic Optic Neuropathy Treatment from 2016 to 2020 Vs Market Outlook for 2021 to 2031

From 2016 to 2020, the global ischemic optic neuropathy treatment market expanded at a CAGR of around 3.2%. Technological advancements in the treatment of ischemic optic neuropathy combined with the presence of alternative drugs are projected to drive development of the market across the globe over the forecast years.

Ischemic optic neuropathy is a disorder leading to degeneration of the optic nerves. Although generally optic nerve disorders are inherited, some of them develop over time. This condition is one of the significant reasons leading to severely impaired vision or blindness, normally among middle-aged and elderly people.

Increase in the elderly population together with rising awareness of taking precautionary measures for detection to avoid further deterioration of the condition has prompted a rise in the interest for optic nerve disorder surgeries and drugs, which has boosted development of the market.

Considering these statistics and shift in dynamics, the market for ischemic optic neuropathy treatment is forecast to expand at a nominal CAGR of close to 4% over the coming 10 years, and observe an increase in the value from US$ 193.8 Mn in 2021 to over US$ 278.7 Mn by the end of 2031.

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What are the Key Opportunities for Manufacturers of Ischemic Optic Neuropathy Treatment Products?

Increasing number of optic nerve disorders are leading to heightened interest in optic nerve disorders medications, thus boosting market growth. As indicated by the World Health Organization (WHO), around 1.3 billion individuals are affected by some kind of vision disorder.

Growing interest in non-invasive medical procedures in the optometric space is additionally creating lucrative opportunities for market players. Patients, post awareness of the cost and risks involved in surgeries, show a high tendency toward drugs over medical procedures, which is a significant factor for the growth of the market.

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What is the Impact of Market Consolidation on This Space?

Key players follow the strategy of acquisition of small and medium players. For instance, In July 2019, Pfizer Inc. acquired a U.S. based pharmaceutical company, Array BioPharma Inc. This acquisition is estimated to strengthen its innovative biopharmaceutical business and assist in meeting the unmet medical needs of diseases such as cancer and other rare diseases.

Key players in the market are competing to offer safe and compliant products, wherein, dependability is given most significance for enhancing end-client confidence. Likewise, companies are additionally concentrating on the development of their product pipelines and effective management of marketing teams and internal sales to accomplish long-term benefits.

Country-wise Analysis

What Makes the U.S. the Largest Market for Ischemic Optic Neuropathy Treatment?

The market size of the U.S. is estimated to be US$ 71.2 Mn in 2021, due to high availability of advanced treatment facilities and medical infrastructure. At present, it holds the maximum share of the global market, and it is relied upon to follow a similar trend during the forecast years.

Factors such as excellent reimbursements and large incomes boost the market in the country. Also, excellent help from U.S. government projects, for example, Resources for Medicaid, glaucoma macular and degeneration, Medicare, Social Security, Prescription help programs, and others is aiding market expansion.

Availability of developed healthcare infrastructure along with rising spending on R&D activities in the field of ophthalmology is projected to boost the development of the market in the country over the coming years.

Why is Demand for Ischemic Optic Neuropathy Treatment Flourishing in the U.K.?

The U.K. market was valued at US$ 7.9 Mn in 2020, and is expected to experience lucrative growth opportunities during the forecast period. The U.K. is a significant part of the European market. Rising strategic collaborations and technological advancements are factors expected to boost the market.

For example, the International Agency for the Prevention of Blindness & the World Health Organization (WHO) began the 'Vision 2020: The Right to Sight' in 1999 as a collaborative worldwide drive with the objective of initiative eliminating avoidable blindness by 2020.

What is the Market Scenario of Ischemic Optic Neuropathy Treatment in Germany?

Germany leads the European ischemic optic neuropathy treatment market with a share of 27.0%, and will continue to grow rapidly over the forecast period. Germany has a developed and well-structured healthcare system. Additionally, Germany encourages R&D activities in the treatment of eye-related diseases, and consequently has high spending on healthcare. Because of these policies, different companies around the world are encouraged to operate in the country.

As indicated by the World Aging Population report by the United Nations, Germany had the largest percentage of people aged 60 years or more, in 2017. In addition, most developed nations such as Germany are dealing with healthcare problems fundamentally because of the rising geriatric population. This will support market development in the country.

What Factors are leading to the Development of India’s Ischemic Optic Neuropathy Treatment Market?

The market in India is expected to experience lucrative growth and expand at a CAGR of over 5%. India is a rapidly developing economy and has huge neglected needs for optic care. The nation has around 30% of the world's blind individuals.

Other factors anticipated to boost India's market development include developing middle class, rise in dietary change-related eye diseases, developing occurrence of optic disorders, and increased access to care.

ischemic-optic-neuropathy-treatment-market

Category-wise Insights

Why is Demand for Anticoagulants to Treat Ischemic Optic Neuropathy Continuously Rising?

Based on drug class, anticoagulants are leading the market and are expected to gain more than 47% revenue share over the forecast period. Anticoagulants are medicines that help prevent blood clots.

Anticoagulations using heparin and warfarin benefit patients with ischemic optic neuropathy within four weeks of the onset of symptoms.

Which is the Most Preferred Route of Administration for Ischemic Optic Neuropathy Treatment?

Oral route is the most preferred among all routes and held a share of around 47% in 2020. This is also the most economical and convenient route of administration. Solid dosage forms such as capsules and tablets have the highest level of drug stability and give allow measurements.

The oral drug delivery route is also the most favoured because of factors such as convenience to handle, non-invasive, high patient compliance, and doesn't need a particular sterile condition.

Why is Prevalence of Anterior Ischemic Optic Neuropathy High?

The anterior ischemic optic neuropathy segment represented the largest market share and accounted for a revenue of US$ 145.5 Mn in 2020. The segment is expected to expand at a CAGR of 3.4% through 2031.

Anterior ischemic optic neuropathy is the most likely the reason for acute optic neuropathy in the geriatric population. It may be arteritic (AAION) or non-arteritic (non-arteritic anterior ischemic optic neuropathy [NAION]), NAION being related to giant cell arteritis. As compared to anterior ischemic optic neuropathy (AION), there are only 10% cases of optic nerve ischemia because of PION.

Why Do Retail Pharmacies Enjoy a High Share in the Sales of Ischemic Optic Neuropathy Treatment Products?

Retail pharmacies are expected to contribute maximum revenue share in the global market; over 46% share in 2021.

Factors such as technology-driven pharmacies, passing advantages to patients and consumer, economies of scale, and increase in market share and profits makes retail pharmacies the most. Also, to avoid surgical procedures, patients shift toward medicine treatment, which creates opportunities for the segment.

What is the Impact of COVID-19 on Demand for Ischemic Optic Neuropathy Treatment?

The COVID-19 pandemic has severely impacted health services related to other diseases such as cancer, hypertension, diabetes management, and cardiovascular emergencies. The shifted focus of healthcare professionals from these diseases to address the COVID-19 criticality impacted the healthcare industry on the whole.

Large-scale shutdowns and closures, restrictions on tourism, and stop of non-emergency methodologies affected market expansion. Even though certain economies are gradually opening up, the danger of further shutdowns and waves remains, and these concerns keep on hindering the progress of therapeutic drugs area.

Competitive Landscape

Persistence Market Research has profiled the following key ischemic optic neuropathy treatment product manufacturers in its report:

  • AbbVie Inc.
  • Eli Lily Company
  • GlaxoSmithKline
  • Pfizer Inc.
  • Teva Pharmaceuticals
  • Bausch Health Companies Inc.
  • F. Hoffmann-La Roche AG
  • Bayer AG
  • Sanofi A.S.
  • Bristol-Myers Squibb and Company

Manufacturers are focusing on the expansion of their product portfolios by launching new, technologically advanced products and by receiving approvals from different government bodies.

  • In January 2021, Eli Lilly and Company acquired Prevail Therapeutics Inc.; The acquisition established a new modality for drug discovery and development.
  • In July 2020, Teva pharmaceuticals decided new strategic focus on the Japanese market. Japan’s business venture shifts focus to speciality assets and a portfolio of select generics that meet patients' medical needs.
  • In April 2021, Bausch Health Companies Inc. got approval for VYZULTA (latanoprostene bunod ophthalmic solution), 0.024%, from the Brazilian Health Regulatory Agency (ANVISA - Agência Nacional de Vigilância Sanitária).

Similarly, recent developments related to companies manufacturing ischemic optic neuropathy treatment products have been tracked by the team at Persistence Market Research, which are available in the full report.

Scope of Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East & Africa

Key Countries Covered

  • US
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Indonesia
  • Malaysia
  • Australia
  • New Zealand
  • South Africa
  • GCC Countries

Key Segments Covered

  • Drug Class
  • Route of Administration
  • Disease
  • Distribution Channel
  • Region

Key Companies Profiled

  • AbbVie Inc.
  • Eli Lily Company
  • GlaxoSmithKline
  • Pfizer Inc.
  • Teva Pharmaceuticals
  • Bausch Health Companies Inc.
  • F. Hoffmann-La Roche AG
  • Bayer AG
  • Sanofi A.S.
  • Bristol-Myers Squibb and Company

Report Coverage

  • Market Forecasts
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

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  • Is the market research conducted by Persistence Market Research?

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Key Market Segments Covered

Drug Class

  • Corticosteroids for Ischemic Optic Neuropathy Treatment
  • Antimetabolites for Ischemic Optic Neuropathy Treatment
  • Anticoagulants for Ischemic Optic Neuropathy Treatment
  • Serotonin and Norepinephrine Reuptake Inhibitors (SNRIs) for Ischemic Optic Neuropathy Treatment
  • Nonsteroidal Anti-Inflammatory Drugs (NSAIDs) for Ischemic Optic Neuropathy Treatment

Route of Administration

  • Oral Ischemic Optic Neuropathy Treatment Methods
  • Injectable Ischemic Optic Neuropathy Treatment Methods

Disease Type

  • Anterior Ischemic Optic Neuropathy
    • Arteritic AION (A-AION)
    • Non-Arteritic AION (NA-AION)
  • Posterior Ischemic Optic Neuropathy

Distribution Channel

  • Ischemic Optic Neuropathy Treatment Products Sold at Hospital Pharmacies
  • Ischemic Optic Neuropathy Treatment Products Sold at Retail Pharmacies
  • Ischemic Optic Neuropathy Treatment Products Sold at Drug Stores
  • Ischemic Optic Neuropathy Treatment Products Sold through Online Pharmacies

Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • The Middle East & Africa

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