Dublin, Sept. 04, 2023 (GLOBE NEWSWIRE) -- The "Optic Neuritis Treatment Market - Growth, Trends, and Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The optic neuritis treatment market is expected to register a CAGR of 4.1% over the forecast period.
The outbreak of the pandemic impacted the market. The COVID-19 infection increased the prevalence rate of optic neuritis. For instance, as per the NCBI research study published in December 2021, post-COVID optic neuritis was identified as a possible neurological complication of the novel coronavirus infection.
The same study also reported that females were more affected by optic neuritis and retinal complications. Thus, the increase in cases of optic neuritis due to COVID-19 positively impacted the market as it increased the demand for optic neuritis treatment.
However, the cancellations of ophthalmology services slightly adversely impacted the market. For instance, as per the journal published by the Eye Surgery Center of Paducah in 2022, during the initial months of the pandemic, of all medical service lines, ophthalmology had the greatest patient volume loss.
The same source also stated that ophthalmology lost 81.0% of patient volume year-over-year when comparing two-week volumes in March and April 2020 versus the same period in previous years. Although, with the resumption of ophthalmology services and increasing number of cases of optic neuritis, the market started to gain traction and is expected to maintain the upward trend over the forecast period.
The increasing prevalence of optic neuritis is one of the major factors propelling market growth over the forecast period. In addition, according to the Optic Neuritis Foundation Inc. report published in 2021, an estimated 15.0% to 20.0% of the people suffering from optic neuritis are likely to end up suffering from multiple sclerosis.
Optic Neuritis Treatment Market Trends
Steroidal Therapy Segment is Expected to Witness Considerable Growth Over the Forecast Period
Steroidal therapy includes corticosteroid drugs used to treat optic neuritis, which have proven efficacy for decades. Corticosteroids are a type of anti-inflammatory drug.
They are typically used to treat optic neuritis. Specific corticosteroids include the medications cortisone and prednisone. Corticosteroids are man-made drugs that closely resemble cortisol, a hormone that the adrenal glands naturally produce. Corticosteroids are often referred to by the shortened term "steroids." Steroids might be given locally, to the precise place where a problem exists, or systemically.
The increasing cases of optic neuritis and the increasing use of steroidal therapy for the treatment are the major factors propelling the segment's growth. For instance, according to the Optic Neuritis Foundation Inc. report published in 2021, adults between the ages of 18 and 45 are most susceptible to optic neuritis.
Moreover, females are said to be more inclined to optic nerve inflammation as compared to males. However, only 3.0% of the population suffering from optic neuritis is expected to lose complete vision and go blind.
North America is Expected to Hold a Significant Share Over the Forecast Period
North America is expected to hold a significant share in the optic neuritis treatment market due to the high disease prevalence, availability of reimbursement, and growing awareness among the population regarding multiple sclerosis and optic neuritis in the region.
Key product launches, a high concentration of market players or manufacturers' presence, acquisitions and partnerships among major players, and product approvals in the United States are some of the factors driving the growth of the optic neuritis market in the country.
Optic Neuritis Treatment Industry Overview
The optic neuritis treatment market is fragmented and consists of several major players. Some of the major players that are currently dominating the market are Pfizer Inc., Mallinckrodt Pharmaceuticals, Novartis AG, Teijin Pharmaceutical Limited, AbbVie (Allergan PLC), and AdvaCare Pharma, among others.
A selection of companies mentioned in this report includes
- Mallinckrodt Pharmaceuticals
- Novartis AG
- Teijin Pharmaceutical Limited
- AbbVie (Allergan PLC)
- Merck KGaA
- AdvaCare Pharma
For more information about this report visit https://www.researchandmarkets.com/r/k4kjs
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
