Optic Atrophy Management Global Market Report 2024

The optic atrophy management market size has grown strongly in recent years. It will grow from $7.65 billion in 2023 to $8.3 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth observed in the historical period can be attributed to several factors, including the rapid expansion of consumer electronics, growth in the telecommunications sector, increased demand in medical device manufacturing, the automotive industry's demand, and the growth of data centers and networking infrastructure.

The optic atrophy management market size is expected to see strong growth in the next few years. It will grow to $10.91 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The anticipated growth in the forecast period can be attributed to the increased adoption of augmented reality (AR) and virtual reality (VR), the expansion of fiber optic networks, the application of optics in renewable energy, the integration of optics in autonomous vehicles, and increased incorporation of optics in medical devices. Major trends expected in the forecast period include the deployment of 5G technology, continuous innovations in display technologies, technological advances in medical imaging, advancements in optical technologies, and the emergence of LED technology.

The rising incidence of glaucoma is anticipated to drive the growth of the optic atrophy management market. Glaucoma comprises a group of eye conditions characterized by increased intraocular pressure that can lead to optic nerve damage, potentially resulting in vision loss or blindness without proper treatment. The projected surge in glaucoma cases emphasizes the need for effective prevention and management strategies to reduce the risk of optic atrophy and improve the quality of life for affected individuals. For instance, as of October 2022, the BrightFocus Foundation reported 80 million individuals with glaucoma globally, with an expected increase to over 111 million by 2040. Thus, the escalating incidence of glaucoma is expected to boost the optic atrophy management market.

The growing prevalence of diabetes is projected to contribute to the expansion of the optic atrophy management market. Diabetes, a chronic condition characterized by elevated blood glucose levels, can lead to optic atrophy, particularly in conditions such as Wolfram syndrome, resulting in progressive vision loss. Optic atrophy management plays a crucial role in addressing nerve degeneration associated with diabetic eye complications, aiming to prevent or slow down the progression of vision impairment. As of April 2023, Diabetes.org.uk reported that 4.3 million people in the UK had been diagnosed with diabetes, and over 2.4 million were identified as being at high risk for type 2 diabetes. The registration figures for 2021-22 showed a notable increase of 148,951 compared to the previous year, 2020-21. Consequently, the rising incidence of diabetes is expected to contribute to the growth of the optic atrophy management market.

The limited availability of effective treatments poses a challenge to the growth of the optic atrophy management market. Managing optic atrophy becomes particularly challenging due to the absence of viable treatment options, resulting in a focus on symptom management and efforts to prevent additional vision loss. For instance, as of July 2023, the Cleveland Clinic reported that preventing optic atrophy is challenging, and in most cases, there is no effective cure or treatment available. Consequently, the lack of comprehensive treatment options acts as a restraint on the growth of the optic atrophy management market.

In response to this challenge, major companies operating in the optic atrophy management market are intensifying their focus on conducting trials aimed at developing targeted therapies for rare genetic disorders. Targeted therapies for rare genetic disorders aim to address the underlying genetic causes of the condition, often involving the introduction of genetic material into cells to correct or replace a faulty gene, targeting the root cause of the disease. For example, in April 2023, Stoke Therapeutics, Inc., a US-based biotechnology company, obtained approval from the Medicines and Healthcare Products Regulatory Agency (MHRA) in the UK for its clinical trial application to commence the Phase I/II OSPREY trial of STK-002. This trial focuses on treating autosomal dominant optic atrophy (ADOA), the most prevalent inherited optic nerve disorder causing progressive and irreversible vision loss. Currently, there are no approved treatments for ADOA, and STK-002 therapy is anticipated to slow down or potentially halt the progression of vision loss in individuals affected by this condition.

In November 2022, Alcon Inc., a Swiss eye care pharmaceutical company, completed the acquisition of Aerie Pharmaceuticals Inc. for an undisclosed sum. This strategic move enhances Alcon's standing in the ophthalmic pharmaceutical sector, broadening its range of commercial products and bolstering its pipeline of developmental drugs. Aerie Pharmaceuticals Inc., a pharmaceutical company based in the United States, focuses on therapies for eye diseases, particularly for patients with glaucoma and optic nerve diseases.

Major companies operating in the optic atrophy management market report are Pfizer Inc., Johnson And Johnson, F. Hoffmann-La Roche AG, AbbVie Inc., Bayer AG, Novartis AG, Bristol-Myers Squibb Company, Sanofi SA, GlaxoSmithKline PLC, Eli Lilly And Company, Boehringer Ingelheim International GmbH., Teva Pharmaceuticals, Viatris (Mylan N.V.), Astellas Pharma Inc., Bausch Health Companies Inc., Sumitomo Dainippon Pharma Co. Ltd., Bausch And Lomb Inc., Aurobindo Pharma, Cipla Ltd., Apotex Inc. , Zydus Cadila, Santen Pharmaceutical Co. Ltd., Lupin, Allergan ple., LEO Pharma A/S, Aerie Pharmaceuticals Inc., Neurophth Therapeutics Inc., Stoke Therapeutics Inc., Bionure Farma S.L., Mallinckrodt Pharmaceuticals, Ixchel Pharma LLC.

North America was the largest region in the optic atrophy management market in 2023. The regions covered in the optic atrophy management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the optic atrophy management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Optic atrophy is a medical condition characterized by the damage or degeneration of the optic nerve, responsible for transmitting visual information from the eye to the brain. This condition involves the degeneration of retinal ganglion cell axons, resulting in optic nerve atrophy. Treatment options may include managing the underlying ailment, vision rehabilitation, or supportive measures aimed at optimizing residual eyesight.

The main types of drugs used in the management of optic atrophy include disulfiram, amebicides, ethambutol, isoniazid, chloramphenicol, vincristine, ciclosporin, and cimetidine. Disulfiram is an alcohol-sensitizing medication that interferes with the body's ability to metabolize alcohol. It is used as part of a comprehensive approach to address alcohol use disorder and its associated health risks, including optic atrophy. These drugs are administered through oral and injectable routes and are distributed through various channels such as hospital pharmacies, retail pharmacies, and online pharmacies.

The optic atrophy management market research report is one of a series of new reports that provides optic atrophy management market statistics, including optic atrophy management industry global market size, regional shares, competitors with an optic atrophy management market share, detailed optic atrophy management market segments, market trends and opportunities, and any further data you may need to thrive in the optic atrophy management industry. This optic atrophy management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The optic atrophy management market consists of revenues earned by entities by providing services such as diagnosis consultations, visual rehabilitation services, and telemedicine services that help in determining causes and assessing the severity of optic nerve damage. The market value includes the value of related goods sold by the service provider or included within the service offering. The optic atrophy management market also includes sales of methylprednisolone, acetazolamide, antiviral medications, and immunosuppressants, which are used in the management of related conditions that lead to optic atrophy. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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