The global neurotrophic keratitis treatment market is slated to reach a valuation of USD 5 billion in 2023. According to Future Market Insights, the market is expected to grow at a 7.17% CAGR until 2033, valued at USD 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.
Strategic collaborations 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.
However, the non-favorable reimbursement scenarios the developing and underdeveloped economies will pose a major challenge to market growth. Treatment of this disease results in either altering the eye or its functioning or this will further challenge the market growth rate. High expenses associated with the chronic use of topical eye gels, and drops will further derail the market growth rate.
Out-of-pocket expenses associated with chronic use of topical eye gels and drops and challenges with autologous serum drops production affect the treatment approach and sequence as well as access to treatment of neurotrophic keratitis thus restraining the growth of the global neurotrophic keratitis treatment market.
| Attribute | Details |
|---|---|
| Projected Forecast Value (2023) | USD 5 billion |
| Projected Forecast Value (2033) | USD 10 billion |
| Growth rate | 7.17% CAGR |
| Forecast period | 2023 to 2033 |
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The global neurotrophic keratitis treatment market grew at a CAGR of 5.12% from 2018 to 2022, as per Future Market Insights, a provider of market research and competitive intelligence.
During the initial phase of 2020, a restrictive and monitored public health strategy comprising travel restrictions and overall closures was incorporated on a large scale. The minimization of doctor visits and the consequent decrease in prescriptions were two of the most common methods for limiting the spread of COVID-19. But even though several drugs are licensed for sale in the neurotrophic keratitis treatment market, the production was impeded due to the pandemic in the historic decades
Recently, as the number of people using contact lenses grows, so does the incidence of neurotrophic keratitis. The most typical risk factors for infection include the wearing of contact lenses, linked poor hygiene, and exposure to amoeba-infested waterways.
The growing prevalence of neurotrophic keratitis and product development propelling the growth of the market
The increase in the prevalence of neurotrophic keratitis and product innovation are predicted to propel the expansion of the neurotrophic keratitis treatment market.
Scientists have also found the average worldwide prevalence of neurotrophic keratitis to be around one million cases with 8% to 11% losing their eye based on the article ‘Global Epidemiology of Fungal Keratitis and its Outcomes’.
Rise in the infection of the Keratitis
According to the New York Eye and Ear Infirmary, keratitis results from an infection and is considered to be among the leading causes of preventable blindness across the world where the incidence of the disease is quite high in developing countries estimated at 500,000 per year.
Poor reimbursement scenarios and high costs hamper the growth market
Non-favorable reimbursement scenarios in emerging and underdeveloped economies, on the other hand, pose a significant threat to the growth of the industry.
Treatments for this ailment thus alter the eye or its operation or increases the rate of market expansion, where the high costs incurred with the prolonged usage of topical eye gels and drops might further lead to deter the overall growth.
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).
A careful ocular surface examination should be performed. In particular, eyelids should be examined to rule out the presence of lagophthalmos or blepharitis. Slit-lamp examination is fundamental to detect signs of NK and to classify NK severity, ranging from punctate corneal keratopathy to stromal melting and corneal perforation.
Corneal anesthesia causes a lack of ocular discomfort symptoms; thus, NK should be always suspected in case of significant discrepancy between ocular signs and symptoms.
The ocular examination helps to identify also possible causes of decreased corneal sensitivity: corneal scarring may indicate previous injuries or infections; patchy iris atrophy may be a sign of previous herpetic infection. Fundus examination may show signs of diabetic retinopathy or optic nerve abnormalities due to intracranial pathology.
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The treatment approach for NK should be prompt and based on the stage and severity of the disease. Despite various medical and surgical therapies having been proposed, NK remains yet challenging to treat, and the lack of positive response is commonly observed in clinical practice.
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. Thus, the treatment should be rapid and based on the clinical stage of the disease.
Rising number of Neurotrophic Keratitis Patients
North America dominates the neurotrophic keratitis treatment market owing to the rising expenditure for the development of novel therapies and the rise in product approvals with its latest developments.
Due to a large number of keratitis patients and other prolonged eye diseases, as well as soaring expenditure on research and development the United States is expected to overtake the neurotrophic keratitis treatment market in the North American region across the forecast timeframe.
Since the rising scenarios and latest developments in keratitis treatment, North America is predicted to lead the neurotrophic keratitis market treatment. Due to the large number of keratitis patients and their prolonged eye diseases, as well as soaring expenditure on research and development the United States is expected to overtake the overall keratitis market within the timeframe.
Fungal keratitis is also said to be prevalent in warm and moist areas of the United States. According to research released in October 2020 ‘The Global Incidence and Diagnosis of Fungal Keratitis’, the southern part of the United States is said to have a greater incidence of keratitis than other regions.
Asia- Pacific is the second most important region, with a market of USD 200 million in 2022. It is expected to rise at a CAGR of 7.1%. this is due to the rise in the healthcare system infrastructure construction costs and a growing geriatric population. Where the favorable trial results may lead to a new diagnosis, that is likely to accelerate the market growth in the coming period
The United Kingdom dominates the neurotrophic keratitis treatment market because of its strong infrastructure base as well as increased consumption of persistent corneal epithelial defects treatments.
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market.
Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
The demand for hospital pharmacies will be more during the forecast period.
According to a report by Future Market Insights, the hospital pharmacies would grow within the anticipated time frame. This market sector is expected to hold a greater share of the worldwide market from 2023 to 2033.
Due to the growing number of people visiting hospitals for advice on treatment related to hormonal cancer, the hospital pharmacy is anticipated to dominate the worldwide hormone-sensitive advanced prostate cancer treatment market. As a result, individuals more pertain towards their health and well-being. Thus, the majority of consumers are expected to only buy medications from hospital pharmacies.
The artificial tear segment will gain the dominant share
The viscosity of the tear mucus increases. There is decreased tear break-up time, leading to dry spots on the epithelium, which then stain with fluorescein, with resultant vascularization and scarring if the progression of the neurotrophic keratitis treatment is not halted. The disease is generally treated with preservative-free artificial tears and ointments as well as considerations of punctual occlusion.
Some of the prominent players in the global market are
Some of the important developments of the key players in the market are
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 7.17% from 2023 to 2033 |
| Market value in 2023 | USD 5 billion |
| Market value in 2033 | USD 10 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD billion for Value and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Treatment Type, Application, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; Middle East & Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, India, Malaysia, Singapore, Thailand, China, Japan, South Korea, Australia, New Zealand, GCC countries, South Africa, Israel |
| Key Companies Profiled | 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. |
| Customization Scope | Available on Request |
The CAGR of the market is 7.17% through 2033.
The global market size may achieve US$ 10 billion by 2033.
In 2023, the market is expected to be around US$ 5 billion.
Growing incidences of neurotrophic keratitis and product development stimulate market expansion.
Asia Pacific’s industry is predicted to exhibit a CAGR of 7.1% in 2023.
Hospital pharmacies is going to possess a significant market share.
| Market Size, 2023 | USD 571.7 Million |
|---|---|
| Market Size, 2033 | USD 1.0 Billion |
| Value CAGR (2023 to 2033) | 4.3% |
| Projected Forecast Value (2023) | USD 5 billion |
|---|---|
| Projected Forecast Value (2033) | USD 10 billion |
| Growth rate (2023 to 2033) | 7.17% CAGR |
| Expected Market Value in 2023 | USD 5 billion |
|---|---|
| Projected Market Value in 2033 | USD 10 billion |
| Growth Rate (2023 to 2033) | 7.2% CAGR |
| Expected Market Value (2023) | USD 789.89 Million |
|---|---|
| Anticipated Forecast Value (2033) | USD 1,499.45 Million |
| Projected CAGR (2023 to 2033) | 6% |
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Neurotrophic Keratitis Treatment Market
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