Overview and Scope
Neurotrophic keratitis treatment refers to a treatment method to cure a rare eye condition caused by damage to the trigeminal nerve, leading to decreased corneal sensation and potential corneal damage. This treatment is used to protect the cornea, promote healing, alleviate symptoms, and prevent further damage.
Sizing and Forecast
The neurotrophic keratitis treatment market size has grown strongly in recent years. It will grow from $4.7 billion in 2023 to $5.1 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to increased diagnoses, increasing injury and surgical procedures, rising research and development, global healthcare infrastructure.
The neurotrophic keratitis treatment market size is expected to see strong growth in the next few years. It will grow to $6.82 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to educational initiatives, increasing clinical trials, advanced therapies, regulatory approvals. Major trends in the forecast period include improved diagnostic tools, digital health solutions, neuroprotection strategies, advanced ocular surface imaging.
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Segmentation & Regional Insights
The neurotrophic keratitis treatment market covered in this report is segmented –
1) By Treatment: Topical Antibiotics; Recombinant Human Nerve Growth Factor (rhNGF); Amniotic Membrane Transplantation; Keratoplasty; Other Treatments
2) By Route of Administration: Oral; Topical; Other Routes of Administration
3) By Application: Stage I; Stage II; Stage III
4) By End-User: Hospitals; Homecare; Specialty Clinics; Other End-Users
North America was the largest region in the neurotrophic keratitis treatment market in 2023. The regions covered in neurotrophic keratitis treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The groing prevalence of eye diseases is expected to propel the growth of the neurotrophic keratitis treatment market going forward. Eye diseases are a wide range of medical problems and disorders that affect the structure and function of the eyes. Neurotrophic keratitis can aid in the improvement of corneal sensation, the promotion of healing, the prevention of infection, and the relief of pain and suffering. For instance, in March 2022, according to the reports shared by Eye Care One, a US-based eyecare career development services platform, it was estimated that 35 million US people will suffer from dry eye disease (DED) in 2022 and the prevalence will rise yearly. Furthermore, in March 2021, according to the Eyes of the World Foundation, a Spain-based non-profit organization, there will be 1.1 billion people with vision loss in 2021, which is estimated to increase to 1.7 billion by 2050. Therefore, the growing prevalence of eye diseases is driving the growth of the neurotrophic keratitis treatment market.
Key Industry Players
Major players in the neurotrophic keratitis treatment market are Eyevance Pharmaceuticals LLC, Grand Pharma Co. Ltd., Walgreen Co., Pfizer Inc., Johnson and Johnson, Bayer AG, Novartis AG, Abbott Laboratories, Gilead Biosciences Inc., Merck and Co. Inc., Allergan Inc., Alcon Inc., Bausch Health Companies Inc., Bausch & Lomb Inc., CooperVision Inc., Rohto Pharmaceutical Co. Ltd., Santen Pharmaceutical Co. Ltd., Zhejiang Conba Pharmaceutical Co. Ltd., Glenmark Pharmaceuticals Limited, Dompe farmaceutici S.p.A, Aurolab, Ocular Therapeutix Inc., Laboratoires Thea SAS, Leadiant Biosciences Inc., ReGenTree LLC, Contacare Opthalmic Private Limited, Neuroptika Inc., Surgitech Innovation Private Limited.
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