Global Neurotrophic Keratitis Market is anticipated to expand at a CAGR of 5.1% from 2019 to 2027
The major symptoms associated with neurotrophic keratitis are red & dry eyes, blurred vision, pain, and discomfort in the eye. Approval of promising drugs such as Oxervate and TB4 is going to completely revolutionize the treatment regimen for neurotrophic keratitis during the forecast period.
National Organization for Rare Disease has designated neurotrophic keratitis as a rare disease highlighting a prevalence rate of 5 per 10,000 people. The major causative agent is the herpes zoster virus and herpes simplex virus. The clinical manifestation of the disease is the progressive damage of nerve innervations of the trigeminal nucleus present in the corneal region of the eye. It results in obliteration of the healing process of the corneal surface. Ophthalmologists across the globe are adopting a treatment regimen on the basis of the different stages of the disease. Preservative-free artificial tears are dominating the medication segment owing to their capability to provide lubrication and moisture, it initiates lacrimation to ensure eye hygiene. Regenerative human nerve growth factors will be influencing the market during the forecast period owing to its effective therapeutic index against neurotrophic keratitis infection. The surgical intervention segment is further classified as tarsorrhaphy and amniotic membrane transplantation, they are proven beneficial during the 3rd stage of the infection for the treatment of corneal ulcers.
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North America is presently is spearheading the geography segment in the neurotrophic keratitis market. According to the vital statistics provided by the National Institute of Health (NIH) research for ophthalmology disorders, the prevalence rate of the population undergoing surgical intervention for neurotrophic keratitis is 1.5 per 10,000 population. Furthermore, herpes zoster has been identified as the major causative agent to initiate the prognosis of neurotrophic keratitis in the North American region. Chief contributing factors such as high incidence rate and affordable reimbursement scenario accentuates the growth of neurotrophic keratitis in the region. Europe is the 2nd largest regional market for neurotrophic keratitis treatment owing to the proactive role adopted by European Medical Agency (EMA) to expedite the drug development protocols pertaining to neurotrophic keratitis Effective research partnership between biopharmaceutical companies and academic research institutes specializing in eye care further support the market growth in Europe region. The Asia Pacific is showcasing promising growth in the near future on account of the rising prevalence of neurotrophic keratitis in the elderly population and developing healthcare infrastructure relevant to ophthalmology research and care centers.
Biopharmaceutical companies pioneering in the treatment of neurotrophic keratitis are Allergan, Plc., Dompe farmaceutici S.p.A., Abbott Laboratories, Inc., CooperVision, Neuroptika, Bausch & Lomb Incorporated, ReGenTree, LLC., Bayer AG, Santen Pharmaceutical Co., Ltd., Johnson & Johnson, Novartis AG.
Market Key Takeaways:
- The exponential rise in the incidence rate of neurotrophic keratitis throughout the globe
- Affordable reimbursement scenario for the medications employed in the treatment for 1st and 2nd stage neurotrophic keratitis
- USFDA has awarded priority review designation to facilitate the market growth of Oxervate in developed regions such as as Europe and North America