The Optic Neuritis Treatment Market is expected to register a CAGR of 4.1% during the forecast period. Optic neuritis is inflammation of the optic nerve in which myelin covering is damaged by the inflammation, which typically results in blurred or dark vision. Some of the Symptoms include pain, vision loss in one eye, visual field loss, loss of color vision, flashing or flickering lights with eye movements. Signs and symptoms of optic neuritis can be the first indication of multiple sclerosis or the disorder can occur later in the course of multiple sclerosis. Multiple sclerosis is a disease that causes inflammation and damage to nerves in brain as well as the optic nerve.
Optic neuritis disease can happen to anyone at any age, but most of cases occur in women who are between the ages of 20 to 40. In addition, according to the Optic Neuritis Foundation Inc, an estimate of 15-20% of the people suffering from optic neuritis are likely to end up suffering with multiple sclerosis.
Rise in geriatric population, increasing incidence of multiple sclerosis, and growing awareness about early detection of optic neuritis are the key driving factors of the optic neuritis treatment market.
Key Market Trends
Steroidal Therapy Segment is Expected to Hold a Major Market Share in the Optic Neuritis Treatment Market
- Steroidal therapy includes corticosteroid drugs, used to treat optic neuritis which have proven efficacy for decades.
- According to the Optic Neuritis Foundation Inc, adults between the ages of 18-45 years are most prone to optic neuritis. Moreover, females are said to be more prone to optic nerve inflammation as compared to the males. However, only 3% of the population suffering from optic neuritis are expected to lose complete vision and go blind.
- Steroidal therapy segment holds a significant market share in the optic neuritis treatment market and is anticipated to show similar trend over the forecast period due to high efficacy and easy availability of the products.
- Rise in geriatric population, and growing awareness about early detection of optic neuritis associated with multiple sclerosis are the key driving factors in the steroidal therapy segment.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a major market share in the global optic neuritis treatment market due high disease prevalence, availability of reimbursement, and growing awareness among the population regarding multiple sclerosis and optic neuritis in this region. As per a study published in the Journal of Neurology, stated that the annual incidence of optic neuritis in the United States is found to be around 5/1,000,000, with estimated prevalence 115/1,000,000. Furthermore, technological advancement and launch of new treatment options, increasing healthcare spending and presence of well-established healthcare infrastructure is also fueling the growth of the overall regional market to a large extent.
The Optic Neuritis Treatment Market is fragmented competitive and consists of a several major players. . Some of the major players which are currently dominating the market are Pfizer Inc, Mallinckrodt Pharmaceuticals, Novartis AG, Teijin Pharmaceutical Limited, Biogen, Allergan Plc, Bristol-Myers Squibb Company, Healthy Life Pharma Private Limited and AdvaCare Pharma.
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1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Optic Neuritis
4.2.2 Favourable Reimbursement Policies
4.3 Market Restraints
4.3.1 Side Effects Associated with Treatment
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Treatment Type
5.1.1 Steroidal Therapy
5.1.2 Immunomodulators therapy
5.1.3 Other Treatments
5.2.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.2.4 Middle-East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
5.2.5 South America
126.96.36.199 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Pfizer Inc
6.1.2 Mallinckrodt Pharmaceuticals
6.1.3 Novartis AG
6.1.4 Teijin Pharmaceutical Limited
6.1.6 Allergan Plc
6.1.7 Bristol-Myers Squibb Company
6.1.8 Healthy Life Pharma Private Limited
6.1.9 AdvaCare Pharma
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.