Research Nester Analytics LLC ’s recent market research analysis on “Neurotrophic Keratitis Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitor’s analysis and a detailed overview of the global neurotrophic keratitis market in terms of segmentation by treatment type, application, and by region
Increasing Prevalence of Neurotrophic Keratitis to Drive Growth of the Global Neurotrophic Keratitis Market
The prevalence of neurotrophic keratitis increases with age. According to World Health Organization projections, one in six people will be 60 years of age or older by 2030. The number of people 60 years of age or older worldwide will increase from 1 billion in 2020 to 1.4 billion by this time. By 2050, there will be twice as many people on the planet who are 60 years of age or older—2.1 billion people. Between 2020 and 2050, the number of people 80 years of age and older is expected to triple, to 426 million. The prevalence of conditions including diabetes, herpes simplex virus, and eye surgeries that harm nerves and increase the risk of NK also has an impact on the industry.
Some of the major growth factors and challenges that are associated with the growth of the global neurotrophic keratitis market are:
Growth Drivers:
- Upsurge in the Demand for Novel Therapies and Treatment
- Increasing R&D expenditure in healthcare
Challenges:
The process of approving a drug is intricate and requires close examination by experts in several domains, such as clinical, statistical, quality, and regulatory. To guide the drug development process, agency employees cooperate and iteratively work with the requestor. A medicine cannot be approved if its measurements are not precise. For instance, OCS-01 is an investigational drug that is not authorized by any regulatory agency to be sold in any country. Pharmaceutical manufacturers must abide by GMP laws to ensure that drugs are routinely manufactured and inspected in compliance with quality standards. Tight legal requirements and prescription authorization requirements could prevent new medicines from being introduced to the market. The stringent regulations for drug approval by regulatory bodies are expected to hamper the market growth.
Access our detailed report at: https://www.researchnester.com/reports/neurotrophic-keratitis-market/5557
The global neurotrophic keratitis market is segmented into treatment type and application, where treatment type is sub-segmented into surgical intervention ad drugs. By the end of 2036, the drugs segment is anticipated to garner the largest revenue of USD 1.06 billion with a CAGR of 17.19% over the forecast period. The range of drugs developed to address the unique challenges this sickness poses characterizes the neurotrophic keratitis market. Artificial tears are the main treatment for NK in all stages. Several formulations based on polymers without preservatives perform comparable duties. Increased lubrication reduces proinflammatory cytokine levels on the surface of the eye and the shear forces brought on by blinking, which promotes epithelialization. Nerve growth factor stimulators promote corneal nerve growth and repair as a means of treating the underlying cause of neurotrophic keratitis.
Over the forecast period of 2024-2036, the European neurotrophic keratitis market is predicted to develop at a CAGR of 16.94%. The European market was worth USD 38.32 million in 2023, and it is expected to be worth USD 285.19 million by the end of 2036. The neurotrophic keratitis market in Europe is impacted by several variables, including the aging population, the development of diabetes, and abnormalities of the ocular surface. For example, the IDF predicts that by 2045, there will be a 13% increase in the number of diabetics (61 million) and diabetes prevalence (9.2%) in the EUR Region. Both the annual incidence (31,000 new cases) and the total number of children and adolescents with type 1 diabetes (295,000) are highest in this region. Furthermore, the WHO reports that the population in the European Region is fast growing in the 60+ age group. By 2030, the number will rise from 215 million in 2021 to 247 million. By 2100, it is predicted that over 30% of EU citizens will be 65 years of age or older.
This report also provides the existing competitive scenario of some of the key players of the global neurotrophic keratitis market which includes company profiling of Oyster Point Pharma, Inc., Neuroptica, Inc., Recordati Rare Diseases, KALA BIO, ReGenTree, LLC, BRIM Biotechnology, Inc., Bausch + Lomb Incorporated, Oculis, HLB Therapeutics
