Optic Nerve Disorders Treatment Market Competitive Landscape Analysis with Forecast by 2023
Posted: Jul 11, 2019
Optic Nerve Disorders Treatment Market Introduction
The optic nerve, which includes over one million nerve fibers, carries visual messages from the eye to the brain. The photoreceptor cells in the retina sense the light and transmit impulses to the optic nerve. Damage to the optic nerve causes loss of vision. The type and severity of vision loss depends on the area of the nerve that is damaged. Optic nerve is subject to a range of pathological conditions owing to systemic diseases, intrinsic, intraorbital, and intracranial diseases.
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Of the many causes of optic nerve disorder, congenital causes, which result in optic nerve hypoplasia, manifest in early childhood. The other causes of optic nerve disorders present in the later stages of life. These include glaucoma and optic neuritis. Glaucoma is one of the common optic nerve disorders which occurs due to building up of fluid pressure inside the eyes, causing damage to the optic nerve. Optic neuritis is another form of optic nerve disorder which can be defined as the inflammation of the optic nerve. Symptoms of optic nerve dysfunction include reduced visual acuity, impairment of color vision also known as dyschromatopsia, afferent pupillary defect, visual field defect, and diminished contrast sensitivity.
Optic Nerve Disorders Treatment Market- Competitive Landscape
Significant product launches and strategic acquisitions are the strategies employed by the market players to increase presence in the global optic nerve disorders treatment market. In 2018, Aerie Pharmaceuticals’ announces market launch of Rhopressa, a recent FDA-approved treatment aiding in the reduction of eye pressure in patients with open-angle glaucoma and ocular hypertension.
In 2015, Allergan plc. acquired AqueSys Inc., clinical stage medical device company focused on developing ocular implants to reduce intra ocular pressure associated with glaucoma. Allergan plc. acquired AqueSys Inc. for the lead development program.
Novartis AG, established in 1895, is engaged in research, development, manufacturing and marketing of healthcare products across a range of areas, including neuroscience, ophthalmology, immunology, hepatology, respiratory, cardiology, dermatology, and cardio metabolic.
Allergan plc. engages in the development, manufacture, and commercialization of branded pharmaceuticals, devices, and biologic products. The company’s products cater to diverse therapy areas including central nervous system, ophthalmology, medical aesthetics, gastroenterology, women health, urology, cardiovascular, and anti-infectives.
Santen Pharmaceuticals Co. Ltd
Established in 1890, Santen Pharmaceuticals Co. Ltd., is a pharmaceutical company that specializes in ophthalmology and rheumatology medicines. It caters to diverse therapeutic areas including glaucoma, allergy, infection, dry eye, cataract, and diabetic retinopathy.
Optic Nerve Disorders Treatment Market- Market Dynamics
Increasing prevalence of diabetes contributing to the rise of glaucoma patients
Glaucoma is known to progress rapidly in diabetic patients. Rise in prevalence of diabetes globally, over 8.5% of the global population aged above 18 years is diabetic, is anticipated to contribute to the growth of the global market.
Increasing geriatric population
The global optic nerve disorders treatment market is driven primarily by increase in the geriatric population. According to the WHO, the global geriatric population is projected to increase from 524 million in 2010 to over 1.5 billion by 2050.
Rising prevalence of optic neuritis
An article published by the Journal of Neurology stated that the incidence of optic neuritis in the U.S. is considered to be over 5 in 1 million every year. Its prevalence is estimated to be over 115 patients in 1 million annually. According to research, over 45% patients suffering with multiple sclerosis tend to develop optic neuritis and over 25% of the optic neuritis patients show symptoms of multiple sclerosis.
Non-compliance with the treatment
Lack of compliance regarding the dosage pattern to be followed in the treatment of glaucoma can affect the patient’s recovery. Usually patients do not take the prescribed dose, and therefore, it is difficult to determine the result of the treatment.
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Adverse side-effects of glaucoma drugs
Glaucoma medications have several side-effects which can lead to serious health problems in certain cases. Common side-effects of glaucoma eye drops are burning of eyes, drainage from eyes, redness, swelling, and itching of eyes. Lesser known side-effects include sweating, chest pain, and slow or irregular heartbeat.
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