How Will the Neurotrophic Keratitis Treatment Market Grow? Key Trends and Opportunities for 2025 and Beyond
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What key factors are powering the surge in the Neurotrophic Keratitis Treatment market right now?
The market size for neurotrophic keratitis treatment has seen substantial growth lately. It is projected to increase from $5.1 billion in 2024 to $5.51 billion in 2025, with a compound annual growth rate (CAGR) of 8.1%. The historic period’s expansion can be traced back to factors such as a rise in diagnoses, an upsurge in injury and surgical procedures, advancements in research and development, and the overall enhancements in the global healthcare infrastructure.
How fast Is the neurotrophic keratitis treatment market expected to grow, and what’s its future value?
The market for treating neurotrophic keratitis is set to experience significant expansion in the coming years. Projections suggest it will reach a value of $7.39 billion in 2029, demonstrating a compound annual growth rate (CAGR) of 7.6%. This anticipated growth during the forecast period is primarily due to factors such as educational efforts, an upsurge in clinical trials, the development of sophisticated therapies, and regulatory approvals. Prominent trends expected during the forecast period encompass enhanced diagnostic instruments, the rise of digital health solutions, the implementation of neuroprotection tactics, and advancements in ocular surface imaging.
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What are the leading drivers of growth in the neurotrophic keratitis treatment market?
The neurotrophic keratitis treatment market is expected to grow due to the increasing cases of eye diseases. Eye diseases encompass various medical conditions that impair the structure and function of the eyes. The treatment of neurotrophic keratitis can promote corneal sensation, encourage healing, prevent infections, and reduce pain and discomfort. For example, reports from Eye Care One, a US-based eyecare career development services platform, estimated in March 2022 that there will be 35 million sufferers of dry eye disease (DED) in the US this year, with the incidence increasing annually. Furthermore, the Centers for Disease Control and Prevention, a US-based federal agency under the Health and Human Services Department, stated in May 2024 that over 3.4 million Americans aged 40 or older are blind or visually impaired. This statistic is expected to double by 2030. Therefore, the increased prevalence of eye diseases is facilitating the expansion of the neurotrophic keratitis treatment market. Growth in the neurotrophic keratitis treatment market is also anticipated due to the rise in healthcare investments, including those in eye care. Healthcare investments, particularly in eye care, are the financial resources allocated for the enhancement, advancement, and availability of medical services and interventions, with emphasis on vision-related health concerns. Such investments can significantly contribute to the progression of neurotrophic keratitis treatment. They can stimulate advances in therapies and drug innovation, enhancing the outcomes for patients and the life quality of individuals afflicted by this condition. For example, the Department of Health and Aged Care in Australia, a government department responsible for health research, endorsement, funding, and regulation, stated in March 2022 that the government’s health system investment was $132 billion in 2022–23. This is set to rise to $140 billion in 2025–26, with a total pledge of $537 billion over the next four years. Thus, the growth of the neurotrophic keratitis treatment market is driven by the increment in healthcare investments, including those in eye care.
What are the key segments defining the neurotrophic keratitis treatment market?
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
Subsegments:
1) By Topical Antibiotics: Broad-Spectrum Antibiotics, Narrow-Spectrum Antibiotics
2) By Recombinant Human Nerve Growth Factor (rhNGF): Cenegermin Ophthalmic Solution, Other rhNGF-Based Solutions
3) By Amniotic Membrane Transplantation: Cryopreserved Amniotic Membrane, Dehydrated Amniotic Membrane
4) By Keratoplasty: Penetrating Keratoplasty, Lamellar Keratoplasty
5) By Other Treatments: Tarsorrhaphy, Therapeutic Contact Lenses
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Who are the key players steering the development of the neurotrophic keratitis treatment market?
Major companies operating 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.
What emerging trends are influencing the growth of the neurotrophic keratitis treatment market?
Prominent businesses in the neurotrophic keratitis treatment market are focusing on the creation of innovative drugs and gaining approvals to maintain their market presence. The development of new drugs is incredibly important for treating neurotrophic keratitis, given the limited options currently available and the pressing need for more effective solutions to halt the disease’s progression. For example, BRIM Biotechnology Inc., a clinical-stage company based in Taiwan, earned Orphan Drug Designation from the U.S. Food and Drug Administration for its BRM424 to treat neurotrophic keratitis in December 2022. The drug is a recombinant form of human nerve growth factor that promotes corneal limbal stem cell growth and differentiation, enabling the cornea to regenerate and recover in neurotrophic keratitis patients.
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Which regions are most influential in expanding the neurotrophic keratitis treatment market?
North America was the largest region in the neurotrophic keratitis treatment market in 2024. 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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