Optic Neuritis Treatment Market revenue to hit USD 450 Million by 2035, says Research Nester

Prominent Optic Neuritis Treatment Market players include Santen Pharmaceutical Co., Ltd., Mallinckrodt plc, AbbVie Inc., Novartis AG, Sanofi Group, AdvaCare International, Hikma Pharmaceuticals PLC, Henry Schein, Inc., Fresenius Kabi USA and Pfizer Inc..

New York, Sept. 27, 2023 (GLOBE NEWSWIRE) -- The global optic neuritis treatment market size is slated to expand at ~ 5% CAGR between 2023 and 2035. The market is poised to garner a revenue of USD 450 Million by the end of 2035, up from a revenue of ~USD 220 Million in the year 2022. The factors that can be attributed to the market growth involve the growing prevalence of infections, including bacterial infections and viruses such as measles, mumps, and herpes that can cause optic neuritis.
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According to a comprehensive analysis of the global impact of antimicrobial resistance (AMR), resistance itself was anticipated to cause ~1.20 million deaths in 2019. Moreover, World Health Organization (WHO) data stated that in 2022, 491 million people aged between 15 to 49 suffered from HSV-2 infection globally.

  Global Optic Neuritis Treatment Market: Key Takeaways

  • Market in North America to propel the highest growth
  • Hospitals segment to garner the highest growth
  • Market in Asia Pacific to grow at the highest rate

Growing Cases of Multiple Sclerosis to Boost Market Growth

Multiple sclerosis (MS) is an autoimmune disease that affects the central nervous system, which comprises the spinal cord and optic nerves. It is observed that around 50% of people who suffer from MS are prone to developing optic neuritis, often considered the first sign of MS. The growing cases of multiple sclerosis are expected to propel the optic neuritis treatment market over the forecast period. As per a recent report from 2023, globally, an estimated 2.8 million people are living with MS. Moreover, the middle-aged population between the ages of 20 and 50 is mostly diagnosed with MS, though it can occur at any age. Additionally, MS reports having a higher incidence rate in women than men.

Global Optic Neuritis Treatment Market: Regional Overview

The global optic neuritis treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region. 

Increased Prevalence of Lifestyle Diseases to Drive Growth in North America
The optic neuritis treatment in North America market is estimated to garner the largest revenue by the end of 2035. The growth of the market in the region can be attributed to the rapidly changing lifestyle of the general population as well as the uptrend of cigarette smoking, stress, obesity, and diabetes, along with the rising prevalence of bacterial infections, such as Lyme disease, cat scratch fever, and syphilis, besides the growing concern about how to repair optic nerve damage naturally as there are yet no effective treatments available to regenerate nerve cells or to restore connections between the eye and brain once the optic nerve is lost. As per the Centers for Disease Control and Prevention (CDC) report, every year over 2.8 million people get affected by antimicrobial-resistant infections in the United States (U.S.), which results in ~35,000 deaths. Furthermore, recent estimates suggest that every year in the U.S., nearly 476,000 people may get Lyme disease.
Diabetes Prevalence to Drive Growth in the Asia-Pacific Region
The optic neuritis treatment market in the Asia Pacific region is estimated to garner the highest CAGR by the end of 2035. The regional market growth can be attributed to the growing prevalence of prediabetes as well as type 1 diabetes, rising concern about type 2 diabetes, and the ubiquity of other autoimmune diseases in the region. China has the highest number of diabetics worldwide, with ~141 million people suffering from the disease in the country, while it is estimated that by the year 2045, China will have ~174 million people with diabetes. Moreover, India is supposed to be the global diabetes capital. Furthermore, there is a rising study on optic nerve damage treatment in Ayurveda, as what causes optic nerve damage is still unknown, but it can occur in isolation or in association with systemic autoimmune conditions as well as with eye diseases, such as glaucoma, that can also cause a form of optic nerve atrophy. This too is expected to boost market growth in the Asia Pacific region.
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Global Optic Neuritis Treatment, Segmentation by End-User

  • Ambulatory Surgery Centers
  • Clinics
  • Hospitals
  • Others

The hospital’s segment is anticipated to hold the largest revenue by the end of 2035. The growth of the segment is attributed to the rapidly increasing global burden of disease as well as more children at risk of loss of vision, along with the developments of various optic nerve damage tests, therapeutics, and neuropathic conditions. Besides the surge in the number of patient footfall in hospitals owing to the availability of better healthcare infrastructure and medical facilities, together with the availability of different surgeons at a single place are also responsible for market growth. It was observed that the total admissions in all U.S. hospitals reached more than 33,000,000 in 2022.
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Global Optic Neuritis Treatment, Segmentation by Treatment Type

  • Surgery
  • Pharmacological

The pharmacological segment is anticipated to hold the largest revenue by the end of 2035. The factors applicable to the growth of the segment include the increasing research & development (R&D) in the pharmaceutical sector as well as the availability & use of various types of therapies, injectable medications, and tablets such as methylprednisolone (Solu-Medrol, Depo-Medrol, and Medrol), which are majorly used as multiple sclerosis medications. R&D spending in the pharmaceutical industry stood at ~USD 238 billion globally in 2021. Moreover, besides optic neuritis medication, therapies such as steroidal therapy, which includes the use of corticosteroid drugs before the inflammation begins, supplementary therapy, which includes vitamin supplementation therapy with vitamin B12, and immunomodulators therapy, which involves disease-modifying agents such as interferon beta1a and beta1b, which have proven efficacy in treating optic nerve damage, are further anticipated to boost the segment growth.

Global Optic Neuritis Treatment, Segmentation by Indication

  • Optic Neuritis and Neuropathy
  • Optic
  • Glaucoma
  • Congenital

A few of the well-known market leaders in the global optic neuritis treatment market that are profiled by Research Nester are Santen Pharmaceutical Co., Ltd., Mallinckrodt plc, AbbVie Inc., Novartis AG, Sanofi Group, AdvaCare International, Hikma Pharmaceuticals PLC, Henry Schein, Inc., Fresenius Kabi USA, Pfizer Inc., and other key market players.

Recent Development in the Global Optic Neuritis Treatment Market

  • Novartis AG a Swiss multinational pharmaceutical corporation unveiled the European Commission Approval for Tabrecta, capmatinib, to cure small cell lung cancer. The drug also provides specialized therapy for cured patients living with NSCLC.
  • Hikma Pharmaceuticals PLC, a manufacturer of non-branded generic and in-licensed pharmaceutical products completed the acquisition of Custopharm Inc. from Water Street Healthcare Partners after approval from the US Federal Trade Commission.

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