Optic Nerve Disorders Treatment Market Size, Industry Opportunities, Strategies, Overview 2033

The Business Research Company recently released a comprehensive report on the Global Optic Nerve Disorders Treatment Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, the optic nerve disorders treatment market size has grown strongly in recent years. It will grow from $3.59 billion in 2023 to $3.81 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to targeted therapies, telemedicine expansion, patient empowerment, global collaborative research.

The optic nerve disorders treatment market size is expected to see strong growth in the next few years. It will grow to $4.67 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to personalized medicine, telemedicine and remote procedures, patient education and awareness, reimbursement policies. Major trends in the forecast period include artificial vision and bionic eye devices, optic nerve regeneration, integration of ai in ophthalmology, community-based vision programs.

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Market Drivers and Trends:

The increase in the prevalence of eye disorders is expected to propel the growth of the optic nerve disorder treatment market going forward. Eye disorders refer to illnesses or conditions that affect the eyes' tissues and other components. Optic nerve disorder treatment helps patients suffering from eye disorders treating various eye ailments, such as glaucoma by slowing down or preventing further optic nerve damage. For instance, in November 2022, according to the Centers for Disease Control and Prevention, a US-based government administration for public health, over 3 million Americans in the US were suffering from glaucoma. Additionally, it is anticipated that the figure would increase to 6.3 million by 2050. Therefore, the increase in the prevalence of eye disorders is driving the growth of the optic nerve disorder treatment market.

Major companies operating in the optic nerve disorder treatment market are introducing innovative generic products to sustain their position in the market. A generic drug is drug that is not branded but is similar in dosage, administration and performance to a branded or reference listed drug. For instance, in March 2021, Teva Pharmaceuticals USA Inc., a US-based pharmaceutical company, unveiled its approval for the first available generic version of AZOPT (brinzolamide ophthalmic suspension) 1% by the United States Food and Drug Administration (FDA), a US-based federal agency. Brinzolamide ophthalmic suspension 1% is a prescription drug that treats increased eye pressure in people with ocular hypertension or open-angle glaucoma by reducing the quantity of fluid within the eye.

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Major Key Players of the Market:

Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck and Co. Inc., Novartis AG, Regeneron Pharmaceuticals Inc., Alcon Inc., Sun Pharmaceutical Industries Limited, Bausch + Lomb Corporation, Horizon Therapeutics Inc., Santen Pharmaceutical Co. Ltd., Allergan Inc., Akorn Inc., Ionis Pharmaceuticals Inc., Lumenis Ltd., Glaukos Corporation, Nidek Co. Ltd., Aerie Pharmaceuticals Inc., Spark Therapeutics Inc., IRIDEX Corporation, Kowa Company Limited, New World Medical Inc., Heidelberg Engineering GmbH, Editas Medicine Inc., Quark Pharmaceuticals Inc., iSTAR Medical SA, Neurotech Pharmaceuticals Inc., Nicox SA., GenSight Biologics S.A., Inotek Pharmaceuticals Co., Oculis Holding AG.

Optic Nerve Disorders Treatment Market 2024 Key Insights:

• The optic nerve disorders treatment market is expected to grow to $4.67 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%.
• Increase In Geriatric Population Is Expected To Fuel The Growth Of The Optic Nerve Disorders Treatment Market
• Innovative Generic Product Strategies In The Optic Nerve Disorder Treatment Market
• North America was the largest region in the optic nerve disorders treatment market in 2023

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