The global optic neuropathy market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). Optic neuropathy is a condition that causes the optic nerves to degenerate. Despite the fact that most optic nerve problems are inherited, some emerge over time. This is one of the most common causes of serious visual impairment or blindness in middle-aged and older persons. Over the next few years, technological developments in the treatment of optic neuropathy, combined with the availability of alternative medications, are expected to propel the market growth.
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The key companies operating in the industry are highly inclined towards the adoption of different growth strategies including partnerships and collaborations, mergers and acquisitions, geographical expansion, new product launches, to remain competitive in the marketplace. For instance, The FDA granted Mitotech orphan drug status for Visomitin, a topical therapy for Leber hereditary optic neuropathy, in December 2021. Visomitin (SkQ1) exhibited continuous visual acuity improvement in patients with Leber hereditary optic neuropathy across several years in a phase 2a research (LHON). In 2022, Mitotech plans to start a phase 2 trial looking at Visomitin in patients with LHON. According to Neurophth Therapeutics, the European Medicines Agency granted orphan drug designation to NR082, a gene therapy medication candidate for the treatment of Leber hereditary optic neuropathy, in January 2022. According to a separate announcement, the FDA recently approved an experimental new drug application for NR082 for the treatment of Leber hereditary optic neuropathy linked with the ND4 mutation. Enrollment in clinical trials in the United States is expected to begin this year. Three investigator-initiated trials confirmed the therapy’s safety and efficacy, with one trial demonstrating clinical persistence of up to 90 months. The FDA designated NR082 as an orphan drug in 2020.
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Market Coverage
Segment Covered-
- By Product
- By End-User
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- Eli, Lilly & Co., and Pfizer Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Optic Neuropathy Market Report by Segment
By Product Type
- BA-240
- IWP-953
- LM-22A4
- Others
By End-User
- Specialty Clinics
- Hospitals
- Others
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