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The global optic neuritis treatment market is estimated to garner a revenue of ~ USD 300 million by the end of 2031 by growing at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of ~ USD 200 million in the year 2021. The growth of the market can be attributed to the rising incidences of bacterial infections across the globe. As of 2019, approximately 1 million people lost their lives due to antibiotic-resistant bacterial infections.
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Furthermore, the global optic neuritis treatment market is further projected to grow on the back of the higher prevalence of syphilis over the forecast period. A report published by the Centers for Diseases Control and Prevention (CDC) showed that in 2020, around 133,945 cases of syphilis including all stages were reported, meanwhile, the prevalence of syphilis was observed to be very high in men who have sex with men (MSM) accounting for 43% out of all cases in the similar year. Syphilis is one of the sexually transmitted diseases (STD) that can trigger optic neuritis. Therefore, such factors are anticipated to influence the market growth positively during the forecast period.
As per the statistics provided by the World Bank, the global geriatric population was 723,595,779 in 2020.
It is observed that approximately 25,000 cases of Lyme disease are reported annually.
A study published by World Health Organization (WHO) in 2022 revealed that 491 million people aged between 15 to 49 have HSV-2 infection globally.
Data released by the World Bank demonstrated that the healthcare expenditure per capita was USD 1,121.97 in 2019.
In a report published by World Health Organization in 2021, almost 2.2 billion people were noticed to have distance or near vision impairment.
The global optic neuritis treatment market is segmented and analyzed for demand and supply by end-user into ambulatory surgery centers, clinics, hospitals, and others, out of which, the hospitals segment is estimated to acquire a noteworthy share in the market. the growth of the segment is attributed to the better facility of medical equipment, medical professionals in a single place, and a notable patient pool. For instance, around 29% of emergency department visits are considered entirely unnecessary.
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Regionally, the global optic neuritis treatment market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. Amongst these markets, the market in the North America region is projected to hold the largest market share by the end of 2031. The growth of the market in the region is estimated to be escalating cases of bacterial infections and higher adoption of steroids. Centers for Disease Control and Prevention (CDC) stated in a report that over 2.8 million people get affected by antimicrobial-resistant infections annually in the U.S. resulting in about 35,000 deaths. Furthermore, increasing cases of Lyme disease in the region is also anticipated to foster the growth of the market during the forecast period. Data provided by the United States Environmental Protection Agency showed the number of reported Lyme disease cases to 7.21 per 100,000 in 2018.
Furthermore, the Asia Pacific region is expected to hold the second-largest share of the global optic neuritis treatment market. Factors such as, the growing prevalence of herpes, mumps, and measles and the higher number of geriatric population in the region are anticipated to drive the growth of the market over the forecast period. For instance, in countries like Sri Lanka, China, Maldives, and others, more than 95% of children up to 23 months old were observed to be immunized against measles.
The global optic neuritis treatment market is further classified on the basis of region as follows:
Our in-depth analysis of the global optic neuritis treatment market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Rising incidences of bacterial infections and a higher prevalence of syphilis are estimated to majorly boost the market growth.
The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022 – 2031.
Increment in the utilization of prednisolone prednisone, and side effects of treatment such as weight gain and increased blood pressure are estimated to challenge the market growth.
The market in North America is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.
The major players in the market are Santen Pharmaceutical Co., Ltd., Mallinckrodt plc, AbbVie Inc., Novartis AG, Sanofi-aventis Groupe, AdvaCare International, and others.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.
The market is segmented by treatment type, indication, end-user, and by region.
The hospitals sub-segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
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