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Optic Nerve Disorders Drugs Market Expected to Secure Notable Revenue Share during 2018-2026
Optic Nerve Disorders Drugs Market: Dynamics
The growing incidences of optic nerve disorders are the demand drivers of the optic nerve disorders drugs market. Optic neuritis affects adults between the ages of 25 to 45 years. The incidence rate of optic neuritis is 5 out of 100000 each year. Almost 3 million Americans suffer from glaucoma resulting in more than 120,000 blind patients and accounting for 9% to 12% of all cases of blindness. According to the World Health Organization, Glaucoma is the second leading cause of blindness in the world after cataracts. The large economic burden of optic nerve disorders is another driver of the optic nerve disorders drugs market. Glaucoma alone accounts for over 10 million physician’s visits each year in the U.S. and costs over $1.5 billion annually in terms of lost income social security benefits,, and health care expenditures.
The growing risk factors such as autoimmune diseases, diabetes and bacterial infection are the driving factors of optic nerve disorders. Growing screening rates and the advent of magnetic resonance spectroscopy and healthcare penetration is another driver of the optic nerve disorders drugs market. Exposure to toxins and drugs such as, Ethambutol, Amiodarone, Tobacco, Ethylene glycol, and others, is driving the optic nerve disorders drugs market.
Factors restraining the optic nerve disorders drugs market include poor efficacy and efficiency, high cost and lack of ophthalmology hospitals in developing nations. Lack of awareness and the low efficacy and efficiency of drugs coupled with the lack of curative treatment for some optic nerve disorders such as glaucoma is restraining the optic nerve disorders drugs market.
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Optic Nerve Disorders Drugs Market: Segmentation
The optic nerve disorders drugs market is segmented on the basis of indication, drug class, end user and region.
Based on indication, the global optic nerve disorders drugs market is segmented into:
Ischemic Optic Neuropathies
Optic Neuritis and Perineuritis
Papilledema
Compressive Optic Neuropathies
Intrinsic Neoplasms
Hereditary Optic Neuropathies
Inflammatory Optic Neuropathies
Infectious Optic Neuropathies
Toxic and Nutritional Optic Neuropathies
Traumatic Optic Neuropathy
Glaucoma
Optic Disc Drusen
Anomalous Optic Neuropathy
Based on drug class, the global optic nerve disorders drugs market is segmented into:
Steroids
Nerve Tonics and Multivitamin
Analgesics
Anti-infective
Hyperosmotic Agents
Parasympathomimetics
Carbonic Anhydrase Inhibitors
Beta-blockers and Alpha-adrenergic Agonists
Others
Based on end user, the global optic nerve disorders drugs market is segmented into:
Hospitals
Clinics
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Optic Nerve Disorders Drugs Market: Overview
Based on regions, the global optic nerve disorders drugs market is classified into North America, Latin America, Europe, CIS & Russia, Japan, Asia-Pacific excluding Japan (APEJ), and the Middle East & Africa (MEA). North America is expected to account for the largest share in the global optic nerve disorders drugs market owing to large incomes and excellent reimbursements. The excellent support of the US government programs such as Prescription assistance programs, Resources for macular degeneration and glaucoma, Medicare, Medicaid, Social Security and others is driving a large optic nerve disorders market.
China and India are expected to drive the lion’s share in the optic nerve disorders drugs market in the Asia-Pacific excluding Japan (APEJ) region. The inclusion of glaucoma in national health programs in developing countries is driving a large market for optic nerve disorders.
The European optic nerve disorders drugs market is expected to be led by Germany, France and the UK. The Middle Eastern and African optic nerve disorders drugs market is anticipated to be dominated by the Gulf nations of Saudi Arabia, UAE, Kuwait and Qatar. The poor per capita income of African countries is likely to restrict the growth of the optic nerve disorders drugs market in this region.
Optic Nerve Disorders Drugs Market: Key Players
Some of the major players in the global optic nerve disorders drugs market are SANTHERA PHARMACEUTICALS, Quark, Novartis AG, Allergan plc, Merck & Co., Stealth BioTherapeutics Inc., Takeda Pharmaceutical Company, and others.
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