Optic atrophy refers to a medical condition characterized by the damage or degeneration of the optic nerve, which is responsible for transmitting visual information from the eye to the brain. It is distinguished by the degeneration of retinal ganglion cell axons, which results in optic nerve atrophy. The treatment options may include controlling the underlying ailment, vision rehabilitation, or supportive measures to optimize residual eyesight.
Sizing and Forecast
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 in the historic period can be attributed to rapid growth in consumer electronics, expansion of the telecommunications sector, medical device manufacturing, automotive industry demand, growth in 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 growth in the forecast period can be attributed to increased adoption of augmented reality (ar) and virtual reality, expansion of fiber optic networks, renewable energy application, integration of optics in autonomous vehicles, increased integration in medical devices. Major trends in the forecast period include 5g technology deployment, continuous innovations in display technologies, technological advances in medical imaging, advancements in optical technologies, emergence of led technology.
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Segmentation & Regional Insights
The optic atrophy management market covered in this report is segmented –
1) By Drug Type: Disulfiram, Amebicides, Ethambutol, Isoniazid, Chloramphenicol, Vincristine, Ciclosporin, Cimetidine
2) By Route Of Administration: Oral, Injectable
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
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.
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Major Driver Impacting Market Growth
An increase in the incidence of glaucoma is expected to propel the growth of the optic atrophy management market going forward. Glaucoma refers to a group of eye conditions characterized by increased intraocular pressure (pressure within the eye) that can damage the optic nerve, potentially leading to vision loss or blindness if left untreated. The projected increase in glaucoma cases is a primary catalyst for the growth of optic atrophy management, underscoring the importance of effective prevention and management strategies to reduce the risk of optic atrophy and enhance the quality of life for those affected. For instance, in October 2022, According to the BrightFocus Foundation, a US-based nonprofit organization dedicated to advancing research and support for macular degeneration and glaucoma, there are currently 80 million individuals with glaucoma across the globe, with a projected increase to more than 111 million by the year 2040. Therefore, the increase in the incidence of glaucoma will drive the growth of the optic atrophy management market.
Key Industry Players
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</b
The optic atrophy management market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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