NEW YORK, June 14, 2021 /PRNewswire/ -- Ischemic optic neuropathy occurs because of a small vessel infraction of the optic nerve, and is a significant reason for impaired vision or blindness. Increasing utilization of newly approved intravitreal implants for the treatment of optic nerve disorders is expected to drive the market over the coming years.
With developing awareness toward eye-associated inconveniences that give rise to impaired vision, diabetic patients and the geriatric population in developed nations are believed to have a proactive methodology for treatment-associated difficulties instead of reactive treatment, which likewise supports the development of the market.
Drug manufacturing and leading pharmaceutical companies from emerging nations are significantly investing in research & development activities, new technologies, and infrastructure in ophthalmology therapeutics to capture a market share in the developing burden of eye infections.
According to a new report published by Persistence Market Research, the global ischemic optic neuropathy treatment market valued at US$ 187.7 Mn in 2020, and is predicted to expand at a CAGR of close to 4% over the forecast period (2021-2031).
Key Takeaways from Market Study
Anticoagulants are expected to contribute over 47% revenue share in the market by 2031.
Anterior ischemic optic neuropathy is expected to account for more than 75% of the global market share. These neuropathies contribute 90% of the total ischemic optic neuropathies that occur worldwide.
Oral route is the most preferred route of administration, and is expected to dominate the market with a share of over 71% by 2031.
Among all the distribution channels, retail pharmacies accounted for more than 45% of the market share in 2020.
North America holds the highest share in the global market for ischemic optic neuropathy treatment, owing to availability of advanced treatment facilities and medical infrastructure for ischemic optic neuropathy treatment in the country.
The U.S. holds a big portion of global revenue, and accounts for more than 90% share in the North American market.
Key players are focused on strengthening their clinical pipelines through discoveries of novel abuse-deterrent formulations.
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"Technological advancements in ischemic optic neuropathy treatment, increasing prevalence of optic nerve disorders, rising geriatric population, and increasing research & development activities are is expected to drive market growth over the coming years," says an analyst of Persistence Market Research.
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Increasing R&D Spending by Pharmaceutical Companies
Major pharmaceutical companies are aiming at developing improved drugs for ischemic optic neuropathy management. Moreover, few manufacturers are solely focusing on the development of drugs for the treatment of ischemic optic neuropathy with minimum side-effects.
Thus, increasing spending by leading pharmaceutical companies for the development of drugs with minimum side-effects is expected to propel market expansion over the forest period.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the ischemic optic neuropathy treatment market in its latest study, presenting a historical demand assessment of 2016 - 2020 and projections for 2021 - 2031.
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The research study is based on drug class (corticosteroids, antimetabolites, anticoagulants, serotonin and norepinephrine reuptake inhibitors (SNRIs), and nonsteroidal anti-inflammatory drugs (NSAIDs)), route of administration (oral and injectable), disease (anterior ischemic optic neuropathy and posterior ischemic optic neuropathy), and distribution channel (hospital pharmacies, retail pharmacies, drug stores, and online pharmacies), across seven key regions of the world.
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