Optic Nerve Disorders Drugs Market: Insights
Optic nerve disorder, commonly known as optic neuropathy, is a medical condition indicating degeneration of the optic nerve. While mostly optic nerve disorders are hereditary, few of them are also acquired over the time. Some of probable etiologies (set of causes) leading to optic nerve disorders can include nutritional, ischemic, and toxic types. Patients suffering from optic nerve disorders show marked preferences for optic nerve disorders drugs over surgeries for treating optic neuropathies, as they are highly cost-effective and minimally risky.
Use of steroid-based optic nerve disorders drugs has been in practice, on account of their efficacy in easing the symptoms of optic nerve disorders. With the inflow of multiple drugs, patients are developing higher confidence on these optic nerve disorders drugs’ types and moving away from surgical interventions.
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Optic Nerve Disorders Drugs Market – Novel Developments
Some of the key market players operating in the optic nerve disorders drugs market include Novartis AG, Santhera Pharmaceuticals, Allergan plc., Stealth BioTherapeutics Inc., Quark, Takeda Pharmaceutical Company, Merck & Co., and others.
- In 2019, Santhera Pharmaceuticals- a leading player in the optic nerve disorders drugs market- made an official announcement regarding its successful completion of patient enrollments in the on-going ‘Phase 1V’ study (LEROS) using Raxone® (idebenone) for treatment of hereditary optic neuropathies, otherwise known as optic nerve disorders. This 24- month long study was conducted across 31 study centers in the USA and Europe and the results are expected to be out by 2021.
- In 2016, Quark Pharmaceuticals Inc. – a key player in the optic nerve disorders drugs market- partnered with Biocon Ltd., a leading biopharmaceutical firm to start various clinical trials of a drug meant to treat eye disorders. The study will further determine, over a duration of more than 12 months, the levels of efficacy and safety of drug candidate ‘;QPI-1007’ on the patients suffering from acute non-arteritic ischemic optic neuropathy (NAION), a medical condition wherein low blood supply to the optic nerves results in permanent vision impairment.
Optic Nerve Disorders Drugs Market- Dynamics
Optic Nerve Disorders Drugs Market – Pervasiveness of Optic Nerve Disorders Propels Growth
Rising number of instances of optic nerve disorders are indicating unabated demand for optic nerve disorders drugs in the coming years, thereby driving the optic nerve disorders drugs market. According to data by the World Health Organization (WHO), approx. 1.3 billion people suffer due to some sort of vision impairment. Among all the other possible causes, glaucoma (a condition leading to damage of optic nerves) has been identified as a prominent cause.
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Rising demand for non-invasive procedures in the optometric space is also creating favorable grounds for optic nerve disorders drugs market. Patients, post realization of the risks and cost involved in surgical procedures, show high inclination toward optic nerve disorders drugs over surgeries, which is a key pacesetter of optic nerve disorders drugs market growth in the future.
Optic Nerve Disorders Drugs Market – Manufacturers Focus on Expansion of Product Pipelines to Achieve High Profitability
Manufacturers in the optic nerve disorders drugs market are vying to offer compliant and safe products, wherein reliability is given utmost importance for boosting end-user confidence. In addition, companies in the optic nerve disorders drugs market are also focusing on expansion of their product pipelines and effective management of internal sales & marketing teams to achieve long-term profitability.
However, manufacturers are likely to incur sizeable operating losses as they make investments, continue with developments, and commercialize new products in the optic nerve disorders drug development market. Higher operating expenses in tandem with development activities are anticipated to create significant challenges for players in the optic nerve disorders drugs market. In a bid to retain their profitability, manufacturers are focusing on successful completion of impending products, obtaining authorizations for seamless marketing, and competitive pricing. These factors, in turn, will be instrumental to solidify their sustenance in the optic nerve disorders drugs market.
Optic Nerve Disorders Drugs Market: Overview
Based on regions, the global optic nerve disorders drugs market is classified into North America, Latin America, Europe, CIS & Russia, Japan, Asia-Pacific excluding Japan (APEJ), and the Middle East & Africa (MEA). North America is expected to account for the largest share in the global optic nerve disorders drugs market owing to large incomes and excellent reimbursements. The excellent support of the US government programs such as Prescription assistance programs, Resources for macular degeneration and glaucoma, Medicare, Medicaid, Social Security and others is driving a large optic nerve disorders market.
China and India are expected to drive the lion’s share in the optic nerve disorders drugs market in the Asia-Pacific excluding Japan (APEJ) region. The inclusion of glaucoma in national health programs in developing countries is driving a large market for optic nerve disorders.
The European optic nerve disorders drugs market is expected to be led by Germany, France and the UK. The Middle Eastern and African optic nerve disorders drugs market is anticipated to be dominated by the Gulf nations of Saudi Arabia, UAE, Kuwait and Qatar. The poor per capita income of African countries is likely to restrict the growth of the optic nerve disorders drugs market in this region.
Optic Nerve Disorders Drugs Market: Key Players
Some of the major players in the global optic nerve disorders drugs market are SANTHERA PHARMACEUTICALS, Quark, Novartis AG, Allergan plc, Merck & Co., Stealth BioTherapeutics Inc., Takeda Pharmaceutical Company, and others.
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