Persistent Epithelial Defect Treatment Market Size, Share, Industry, Forecast and Outlook (2023-2030)

Persistent Epithelial Defect Treatment Market Overview
The global persistent epithelial defect treatment market is anticipated to achieve a high Compound Annual Growth Rate (CAGR) during the forecast period spanning from 2023 to 2030.

Evolution of the Global Market
The global market for persistent epithelial defect treatment has undergone substantial growth and transformations, shaped by various factors influencing its dynamics. Persistent epithelial defects (PEDs or PCEDs) pose a management challenge, often resisting routine supportive care, leading to complications such as infection, corneal scarring, vision loss, melting, and perforation.

Government Initiatives and Research
Government investments and research initiatives, particularly in developing economies, are expected to drive the adoption of advanced technology for neurotrophic keratitis, thereby boosting the global persistent epithelial defect treatment market.

Market Scope Metrics
CAGR: High
Size Available for Years: 2021-2030
Forecast Period: 2023-2030
Data Availability: Value (US$)
Segments Covered: Disease Type, Treatment, End User, and Region
Regions Covered: North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Fastest Growing Region: Asia-Pacific
Largest Region: North America

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Persistent Epithelial Defect Treatment Market Dynamics
Growing Collaborations and License Agreements
Developed economies have witnessed significant growth in healthcare, driven by high investments, income levels, and infrastructure development. The market for persistent epithelial defect treatment is stimulated by collaborations, acquisitions, and license agreements with technological advancements among different countries. A notable instance is Santen Pharmaceutical Co., Ltd.'s asset transfer and license agreements with Visiox Pharmaceuticals, Inc., executed on July 19, 2023.

Utilization of Novel Medicines and Solutions
The rising utilization of novel medicines and solutions for treatment purposes, along with increasing epithelial defects and surgical procedures, is a major factor driving the growth of the persistent epithelial defect treatment market.

Complications Associated with Artificial Tears or Sterile Ocular Ointments
The conventional medical approach involves forceful lubrication using artificial tears without preservatives and sterile eye ointments. However, preservatives in artificial tears can cause stinging and, if used regularly, may harm the eye's epithelium, leading to ocular toxicity.

Persistent Epithelial Defect Treatment Market Segment Analysis
The global market is segmented based on disease type, treatment, end user, and region. The Ophthalmic Solutions treatment segment dominates, accounting for approximately 67% of market share.

Geographical Distribution of the Market
North America holds a substantial market share of around 38% in 2022. The region's market growth is fueled by increasing healthcare needs, economic growth, and advancements in technology and product types. North America's dominance is evident due to awareness of innovative systems.

Impact of COVID-19
The COVID-19 pandemic significantly impacted the global persistent epithelial defect treatment market, causing disruptions in the pharmaceutical sector. Lockdowns and restrictions led to a slump in demand, but ongoing research studies and product trials indicate a moderate impact. The market is expected to grow steadily due to the ongoing need for innovative products.

Key Developments
On April 12, 2023, the U.S. FDA granted Fast Track designation for KPI-012, a human mesenchymal stem cell secretome (MSC-S) therapy by Kala, for managing persistent corneal epithelial defect (PCED).
On January 3, 2023, the safety and effectiveness of RGN-259 eyedrops in a phase 3 clinical study for patients with Neurotrophic Keratopathy (NK) were described by RegeneRx Biopharmaceuticals, Inc.
On July 18, 2022, a worldwide ophthalmology contract research company (CRO) and HLB Therapeutics signed an agreement of intent to execute two phase 3 clinical trials concurrently for patients with neurotrophic keratitis (NK).
Leading Companies
Major global players include Dompé, Santen Pharmaceutical Co., Ltd., Noveome Biotherapeutics, Inc., Recordati Rare Diseases, Kala Pharmaceuticals, Corza Ophthalmology, Amber Ophthalmics, Kiora Pharmaceuticals, MimeTech Srl, and Cordlife.

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