Global Optic Neuritis Treatment Market - 2023-2030

Global Optic Neuritis Treatment Market - 2023-2030

Global Optic Neuritis Treatment Market reached US$ XX million in 2022 and is expected to reach US$ XX million by 2030, growing with a CAGR of XX % during the forecast period 2023-2030.

Optic neuritis (ON) is a condition in which the optic nerve, the nerve that supplies the eye, swells up or becomes irritated. Optic neuritis typically gets better by itself. Steroid medicines may occasionally be used to lessen optic nerve discomfort. Weight gain, mood swings, facial flushing, stomach discomfort, and insomnia are all potential side effects of steroid therapy.

Intravenously is the most common way to administer steroids. Although intravenous steroid therapy appears to have little effect on how much vision needs to recover in cases of typical optic neuritis, it does speed up the process. Plasma exchange therapy is a treatment that may help some patients regain their vision when steroid therapy fails and significant vision loss persists. Plasma exchange therapy has not yet been proven to be useful for treating optic neuritis in investigations.

Market Dynamics: Drivers and Restraints

The rising prevalence of autoimmune diseases

The central nervous system, which includes the spinal cord and optic nerves, is affected by the autoimmune disease known as multiple sclerosis (MS). Optic neuritis, frequently regarded as the earliest indication of MS, has been reported to occur in about 50% of MS patients. Over the projected period, the optic neuritis treatment market is anticipated to be driven by the rising number of multiple sclerosis cases. For instance, according National Multiple Sclerosis Society, nearly 1 million people in the United States are affected by MS. It’s estimated that more than 2.8 million people are living with MS worldwide. The majority of people with MS are diagnosed between the ages of 20 and 50 years.

Additionally, the increasing prevalence of optic neuritis is one of the major factors propelling market growth over the forecast period. In addition, according to The Optic Neuritis Foundation Inc. report published in 2021, an estimated 15% -20% of the people suffering from optic neuritis. Thus prevalence of the diseases accelerates the market growth.

Optic neuritis and multiple sclerosis are frequently linked. Given their secure link, the prevalence of multiple sclerosis patients is increasing, which increases the demand for treatments for optical neuritis. Medical technology developments, such as enhanced imaging methods and diagnostic equipment, support specific treatment and accurate diagnosis, which provides opportunities for market expansion.

Market Dynamics: Restraint

The optic neuritis treatment market's expansion may be hindered by a number of factors. Consider that optic neuritis is frequently a sign of deeper disorders like multiple sclerosis. Optic neuritis itself does not have many specialised, targeted treatments, which can impede market expansion. Optic neuritis is frequently treated with high dosages of corticosteroids, although these medications can have serious side effects.

Patients and healthcare professionals may be discouraged from choosing specific treatments due to anxiety about these side effects. Some treatments can be expensive, particularly those that are more recent or experimental. Low insurance coverage and high out-of-pocket costs may make it more difficult for patients to get these treatments.

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Segment Analysis

The global optic neuritis treatment marketis segmented based on type, treatment, end user and region.

The steroidal therapy segment from the type segment accounted for approximately 39.7% of optic neuritis treatment share

Due to its anti-inflammatory effects, steroidal therapy, particularly corticosteroids, is frequently used to treat optic neuritis. An inflammatory reaction, in which the body's immune system attacks the myelin sheath protecting the optic nerve fibres, frequently results in optic neuritis, an inflammation of the optic nerve. Pain, vision loss, and other visual abnormalities may result from this inflammation.

Additionally, it is anticipated that the growing usage of steroidal therapy for the treatment of optical neuritis will support segment growth. The standard of care for the treatment of acute optic neuritis, for instance, according to an NLM article, stated that the intravenous (IV) administration of corticosteroids. The effectiveness of oral delivery of a bioequivalent dose of corticosteroid, which may be more convenient for patients and cost-effective than IV administration, in the treatment of acute optic neuritis. Thus above factors boost the segment growth.

Geographical Analysis

North America accounted for approximately 38.4% of the market share in 2022

The overall population's accelerating change in lifestyle, the rise in stress, obesity, and diabetes, as well as the rising incidence of bacterial infections, are all factors contributing to the market's expansion in North America. Additionally, important launches of products, a high concentration of manufacturers or market players, mergers and acquisitions between significant companies, and product approvals in United States are all contributing factors to the growth of the optic neuritis market.

For instance, in October 2022, the National Eye Institute (NEI), a part of the National Institutes of Health (NIH), provided Trethera Corporation a $1.6 million Fast-Track STTR commercialization grant to advance the development of TRE-515 as a treatment for optic neuritis (ON). Trethera Corporation is dedicated to developing novel drugs that target nucleotide metabolism for the treatment of cancer and autoimmune diseases. Therefore, those factors fuel regional growth. Due to the rising incidence of autoimmune diseases in this region, Asia Pacific will be expected to control the market for treating optic neuritis. The market's growth rate in this region will also be boosted by the increased focus of the major players on novel technology.

COVID-19 Impact Analysis

The optic neuritis treatment market, as well as the wider healthcare environment, has been significantly impacted by the COVID-19 pandemic. The pandemic affected the manufacturing and delivery of medicines and medical supplies by altering global supply systems. Drug shortages for treating optic neuritis may have resulted from this.

Due to the potential of COVID-19 exposure, existing optic neuritis patients, particularly those with weakened immune systems, may have had difficulties accessing standard treatments or therapies. Telemedicine's uptake was sped up by the pandemic. While this provided some continuity in healthcare services, other diagnostic procedures for optic neuritis, such as complete eye exams, may be difficult to perform remotely.

Market Segmentation

By Type
• Idiopathic Optic Neuritis
• Multiple Sclerosis-Related Optic Neuritis
• Neuromyelitis Optica (NMO)
• Toxic Optic Neuropathy
• Others

By Treatment
• Steroidal Therapy
• Immunomodulators Therapy
• Other Treatments

By End User
• Hospitals
• Clinics
• Ambulatory Surgical Centers
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The major global players in the market include Mallinckrodt Pharmaceuticals, Teijin Pharmaceutical Limited, AbbVie (Allergan PLC), AdvaCare Pharma, Novartis AG, Trethera Corporation, Santen Pharmaceuticals Corp, Teva Pharmaceutical Industries Ltd, Genentech, Inc, Alexion Pharmaceuticals, Inc and among others.

Why Purchase the Report?
• To visualize the global optic neuritis treatment market segmentation based on type, treatment, end user and region as well as understandkey commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of optic neuritis treatment market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global optic neuritis treatment market report would provide approximately 69tables, 71figures and 189 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies