According to Future Market Insights, the Neurotrophic Keratitis Treatment Market Revenue is projected to rise at a steady growth valued at US$ 5 billion with a 7.17% CAGR until 2033, being valued at US$ 10 billion.
An increase in special designation from the regulatory authorities is a major factor fostering the growth of the market. Rising expenditure on the development of healthcare infrastructure and an upsurge in the demand for novel therapies and treatments are other factors also fostering the growth of the market.
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Strategic collaboration and licensing deals among the major players for the development of therapeutics, emerging new markets, and the launch of new products and personal disposable income are some other indirect determinants that will create lucrative market growth opportunities.
Non-favorable reimbursement scenarios in emerging and underdeveloped economies, on the other hand, pose a significant threat to the growth of the industry. Lacking high healthcare infrastructure may deter the growth of the market in developing economies. Also, neurotrophic keratopathy treatment works by slowing cell death which can therefore lead to disease onset or clinical decline.
The patient’s clinical history should be accurately collected and reviewed to identify any ocular or systemic disease potentially associated with the disorder, such as ocular surface conditions (e.g., previous herpetic infection, ocular surgery, chemical burns, topical drug use, contact lens wearing), systemic diseases (e.g., diabetes, multiple sclerosis), and neurologic conditions (e.g., brain tumors, neurosurgery, stroke, trauma).
The purpose of the treatment is to prevent the progression of corneal damage and promote epithelial healing. The management also aims to promote corneal healing and avoid complications.
Due to the increase in keratitis scenarios and the latest developments in keratitis treatment North America is said to dominate the neurotrophic keratopathy treatment market. Because of the rising number of patients and other prolonged eye diseases with the rise in expenditure on research and development the United States is assumed to overtake the market during the forecast period.
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Key Takeaways from the Market Study
- The global Neurotrophic Keratopathy Treatment Market grew at a CAGR of 5.1% from 2018 to 2022
- The growing focus on research and development activities in the field of neuroscience is leading to the discovery of new Neurotrophic Keratitis Treatment.
- During the initial phase of 2020, a restrictively monitored public health strategy comprising travel restrictions and overall closures was all incorporated on a larger scale.
- Asia Pacific is said to be the second most important region whose market value is US$ 200 million in 2021 with a CAGR of 7.1%.
- The rising prevalence of fungal keratitis and product innovation are predicted to propel the expansion of fungal keratitis treatment where scientists have found around one million cases with 8% to 11% of patients losing an eye.
Competitive Landscape
Some of the prominent players in the global market are-
- Dompé Farmaceutici
- Allergan
- Bausch Health Companies Inc.
- CONTACARE
- OHTO Pharmaceutical Co., Ltd.
- Pfizer, Inc.
- Neuroptika
- Santen Pharmaceutical Co., Ltd.
- Johnson & Johnson
- Grand Pharma Co., Ltd.
- Zhejiang CONBA Pharmaceutical Co., Ltd.
Some of the important developments of the key players in the market are:
- In May 2017, Santen Pharmaceutical Co., Ltd., and Singapore Eye Research Institute announced a strategic, five-year extended collaboration designed to develop new technologies for unmet medical needs in key ophthalmology domains.
- In August 2016, Allergen plc agreed to acquire ForSight VISIONS, a privately held, clinical-stage biotechnology company focused on eye care, for a US$ 95 million upfront payments.
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global neurotrophic keratitis treatment market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
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