The Optic Atrophy Management Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s 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 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.
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.
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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
Major companies operating in the optic atrophy management market are increasing their focus on conducting trials to develop targeted therapies for rare genetic disorders and gain a competitive edge. Targeted therapies for rare genetic disorders seek to tackle the fundamental genetic origin of the condition. This involves the transfer of genetic material into cells to rectify or substitute a faulty gene, addressing the root cause of the disease. For instance, in April 2023, Stoke Therapeutics, Inc., a US-based biotechnology company, received approval from the Medicines and Healthcare Products Regulatory Agency (MHRA) in the UK for its clinical trial application to initiate the Phase I/II OSPREY trial of STK-002. This trial aims to treat autosomal dominant optic atrophy (ADOA), which is the most prevalent inherited optic nerve disorder causing progressive and irreversible vision loss in both eyes, typically beginning in the first decade of life. Notably, there are currently no approved treatments for this condition, and STK-002 therapy is expected to decelerate or potentially stop the progression of vision loss in individuals affected by autosomal dominant optic atrophy (ADOA).
The optic atrophy management market report table of contents includes:
1. Executive Summary
2. Optic Atrophy Management Market Characteristics
3. Optic Atrophy Management Market Trends And Strategies
4. Optic Atrophy Management Market – Macro Economic Scenario
5. Global Optic Atrophy Management Market Size and Growth
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26. South America Optic Atrophy Management Market
27. Brazil Optic Atrophy Management Market
28. Middle East Optic Atrophy Management Market
29. Africa Optic Atrophy Management Market
30. Optic Atrophy Management Market Competitive Landscape And Company Profiles
Top Major Players:
- Pfizer Inc
- Johnson And Johnson
- F. Hoffmann-La Roche AG
- AbbVie Inc
- Bayer AG
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