Neurotrophic Keratitis Market to Perceive Substantial Growth by the End 2027
Neurotrophic Keratitis Market: Introduction
Transparency Market Research has published a new report titled, “Global Neurotrophic Keratitis Market”. According to the report, the global neurotrophic keratitis market was valued at US$ 91.6 Mn in 2018 and is projected to expand at a CAGR of ~17% from 2019 to 2027. Rise in reported cases of keratitis, increase in research & developmental activities, surge in awareness, and rise in co-morbidities & risk factors boost the growth of the global neurotrophic keratitis market.
Pharmacotherapies using Drugs to Lead Global Market
In terms of treatment type, the drugs segment accounted for major share of the global neurotrophic keratitis market in 2018. The segment is anticipated to witness strong growth from 2019 to 2027. The drugs segment has been sub-segmented into artificial tears, recombinant human nerve growth factor eye drop, antibiotics, bandage contact lens, and others. The artificial tears sub-segment accounted for major share of the drugs segment in 2018. However, the recombinant human nerve growth factors eye drops sub-segment is expected to account for major share by 2027, as these eye drops restore the normal healing process of the eye and repair corneal damage. The drugs segment’s major market share is due to increase in clinical studies, approvals, and launch of various novel products. In February 2019, ReGenTree initiated the ARISE-3 study, the phase 3 clinical trial of the new drug RGN-259 for the treatment of dry eye syndrome. In August 2018, Dompé announced the U.S. Food and Drug Administration (FDA) approval for cenegermin (Oxervate), a breakthrough therapy for neurotrophic keratitis (NK), which is a rare and progressive eye disease that can lead to corneal scarring and vision loss.
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Stage II Neurotrophic Keratitis to Remain Significant
Based on application, the stage I segment held major share of the global neurotrophic keratitis market in 2018. However, the stage II segment is projected to capture the largest share of the global market by 2027. Dominance of the stage I segment in 2018 can be ascribed to off-label availability of products for stage I, high prevalence of early symptoms in stage I, and high demand for preservative-free artificial tears during the first half of the forecast period. Symptoms of stage II neurotrophic keratitis help in diagnosis of the disease. A study published in 2014 titled, “Diagnosis and management of neurotrophic keratitis”, stated that stage II NK is characterized by recurrent and/or persistent epithelial defects (PED) with an oval or circular shape, most frequently localized at the superior half of the cornea. Diagnosis of NK is primarily based on the clinical history of conditions associated with trigeminal impairment, presence of PED or ulcers, and decreased corneal sensitivity.
A study published in Elsevier, Inc. in November 2017 indicated that around 34% of total studied patients in Italy were affected by persistent epithelial defects (PED) of stage II. Hence, the growth of the stage II segment can be ascribed to rise in awareness about and rate of diagnosis of the disease, launch of products which are effective in stage II persistent epithelial defects treatment, and surge in inclination of patients toward specialized centers for receiving advanced treatment.
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Neurotrophic Keratitis Market: Prominent Regions
North America held the largest share of the global neurotrophic keratitis market in 2018. The market in the region is projected to grow at a rapid pace during the forecast period, driven by presence of key players, technological advancements, and highly structured healthcare industry. Increase in clinical trials, product launches, and approvals, and rise in investment by key players are projected to propel the neurotrophic keratitis market in North America. The U.S. is anticipated to dominate the neurotrophic keratitis market in the region during the forecast period, owing to early adoption of technologies. The country is expected to be the most attractive market for neurotrophic keratitis treatment products, with high attractiveness index. Well-equipped hospitals, technological advancements, rise in research & development on neurotrophic keratitis for novel treatment and appropriate cure, and surge in demand for novel products & treatments are likely to augment the neurotrophic keratitis market in the U.S.
Neurotrophic Keratitis Market: Key Players
Key players in the global neurotrophic keratitis market focus on strengthening their positions in the global market. Players are collaborating with other companies, actively conducting research studies, participating in mergers & acquisitions, and increasing product approvals and launches to secure and strengthen their positions in the global neurotrophic keratitis market. In April 2019, Neuroptika announced positive data from the company’s phase 1 clinical trial to determine the safety, tolerability, and pharmacokinetics of topical NRO-1 in healthy subjects. NRO-1 is a novel therapeutic, with the potential to protect and regenerate corneal nerves in ophthalmic diseases. In July 2017, Dompé announced that the European Commission had granted marketing authorization of cenegermin eye drops for the treatment of moderate to severe neurotrophic keratitis.
Major players operating in the global neurotrophic keratitis market include Dompe farmaceutici S.p.A., Allergan, ReGenTree, LLC, Alcon, Bausch & Lomb Incorporated (Bausch Health Companies Inc.), CONTACARE, ROHTO Pharmaceutical Co., Ltd., Pfizer, Inc., Neuroptika, Santen Pharmaceutical Co., Ltd., Johnson & Johnson, Grand Pharma (China) Co., Ltd., and Zhejiang CONBA Pharmaceutical Co., Ltd.