by R&D Activities to Accelerate Discovery of New Treatments and Drugs
Within the healthcare sector, research and development activities play an imperative role in the discovery of new treatments. The prevalence of neurotrophic keratitis is relatively low due to which, there were no approved drugs in the market to treat the rare eye disease. However, over the past decade, there were significant investments for the development and discovery of drugs that could potentially treat the rare eye disease. Progress in biotechnology has enabled the development of new biological treatments that address neurotrophic keratitis. Moreover, research and development activities have received an added push over the past few years, due to a steady rise in the number of neurotrophic keratitis.
Get the sample copy of report@ https://qyresearchmedical.com/sample/111893
While developed regions such as North America and Europe are likely to present lucrative opportunities for players involved in the current neurotrophic keratitis market landscape due to favorable reimbursement policies and concrete healthcare infrastructure in these regions. However, the neurotrophic keratitis market in developing regions such as Asia Pacific is expected to witness significant developments during the forecast period, due to growing government investments in healthcare and R&D. Thus, the global neurotrophic keratitis market is projected to attain a market value of US$ 324 Mn by the end of 2027.
Drug Developers Aim for FDA Approval for Newly Developed Drugs
For drug developers, apart from research and development, receiving the approval from the FDA is one of the most critical stages of the drug development process. Within the neurotrophic keratitis market, the lack of approved drugs for neurotrophic keratitis provided a window of opportunity for drug developers. Innovations and progress in the development of new drugs will continue to influence the growth of the neurotrophic keratitis market during the assessment period. In 2018, the U.S. Food and Drug Administration waved the green flag and approved Oxervate, a drug developed by an Italian pharmaceutical company, Dompé. Moreover, Oxervate, stands to remain the first-ever drug to receive the approval from the FDA for the treatment of neurotrophic keratitis. Despite having a significantly lower prevalence rate, neurotrophic keratitis can have a devastating impact on individuals suffering from this disease.
Receiving approval from the FDA is tipped to be one of the most groundbreaking developments in the current neurotrophic keratitis market, and likely to pave the way for new drugs and treatments during the forecast period. While the FDA approval marks the beginning of new drug development activities in the neurotrophic keratitis market, drug developers are also expected to invest resources to curb the adverse reactions of these drugs.
Stakeholders Explore Different Treatments to Cure Neurotrophic Keratitis
In the past few years, research and development activities have gained considerable amount of traction in the neurotrophic keratitis market. Clinical trials on different animals have revealed that corneal denervation minimizes corneo limbal stem cell function and number– a factor that could cause the development of epithelial ulcers experienced by patients suffering from neurotrophic keratitis. At present, some of the most notable treatments offered to treat neurotrophic keratitis include autologous serum eye drops, tarsorrhaphy, gold weight placement, punctual closure, and bandage contact lenses. The recombinant human nerve growth factors eye drops sub-segment segment of the drugs segment is projected to gain significant popularity in the second half of the forecast period and emerge as one of the most vital treatment types due to the growing evidence supporting the efficacy of the treatment. Some of the key parameters that are used to assess the efficacy of treatment include corneal healing, corneal sensitivity, and duration of corneal healing, among others.
Analysts’ Viewpoint
The global neurotrophic keratitis market is expected to grow at a staggering CAGR of ~17% during the forecast period. The impressive market growth will be driven by a range of factors, including rise in the number of neurotrophic keratitis cases across the world and surge in co-morbidities and risk factors. Moreover, research and development activities for the development of new treatment and drugs will continue to define the course of the market for neurotrophic keratitis during the forecast period. Drug developers and key participants in the current market landscape will eagerly anticipate obtaining the FDA approval for their drugs and treatment. While North America and Europe are expected to lead in terms of market share and value, Asia Pacific region will continue to present lucrative opportunities for market players.
Neurotrophic Keratitis Market: Overview
According to Transparency Market Research’s latest report on the global neurotrophic keratitis market for the historical period 2017–2018 and forecast period 2019–2027, rise in reported cases of keratitis, surge in number of surgical procedures such as corneal surgery and neurosurgery; overuse of topical medications and contact lenses, and introduction of new therapies are projected to drive the global neurotrophic keratitis market
According to the report, the global neurotrophic keratitis market was valued at US$ 91.6 Mn in 2018 and is anticipated to expand at a CAGR of ~17% from 2019 to 2027
Increase in Reported Cases of Keratitis: A Key Driver
According to New York Eye and Ear Infirmary, keratitis resulting from an infection is among the leading causes of preventable blindness across the world. Incidence of the disease is quite high in developing countries, estimated at 500,000 per year. The number of cases in the U.S. ranges from 25,000 to 30,000 per year.
According to the National Institute for Health Research, neurotrophic keratitis develops in on average 6% of herpetic keratitis patients (prevalence of 149 per 100,000 population) and in 13% of herpes zoster keratitis patients (prevalence of 26 per 100,000 population). Additionally, 2.8% patients who underwent surgical procedures for trigeminal neuralgia (1.5 per 10,000 population) subsequently developed neurotrophic keratitis.
According to the National Institute for Health Research, in 2014–2015, there were 2,426 hospital admissions for keratitis in England, equating to 10,437 bed days and 2,569 finished consultant episodes
Neurotrophic keratitis is considered a rare disease; however, the prevalence of keratitis is gradually rising, which in turn increases the number of cases of neurotrophic keratitis. These factors boost the growth of the global neurotrophic keratitis market.
Surge in Investments in Research and Clinical Study, and Product Approvals and Launches to Augment Global Market
In May 2019, RegeneRx Biopharmaceuticals, Inc. was granted a new U.S. patent for a method of preventing or treating dry eye syndrome by administering Tβ4 with non-active ingredients to provide improved pharmacodynamics
In August 2018, Dompé announced that the U.S. Food and Drug Administration (FDA) had approved cenegermin (Oxervate), a breakthrough therapy for neurotrophic keratitis (NK), a rare and progressive eye disease that can lead to corneal scarring and vision loss
In June 2017, Recordati signed an exclusive license agreement on a global basis with MimeTech, an Italy-based development stage company for the development and subsequent commercialization of a low molecular weight peptidomimetic of human nerve growth factor (NGF) for the treatment of neurotrophic keratitis
Hence, increase in interest and rise in growth strategies of key players are the factors fueling the growth of the global neurotrophic keratitis market
High Cost of Treatment to Hamper Neurotrophic Keratitis Market
According to data published in 2017 by the Royal College of Ophthalmologists (RCOphth), serum eye drops is a highly specialized and high cost intervention for patients with ocular surface disease
A study published in 2018 by SAGE Journals titled, “Epidemiology and economic impact of moderate and severe neurotrophic keratopathy in Italy”, indicated that the mean per patient annual cost of neurotrophic keratitis in the healthcare setting in Italy is substantial and doubles with disease severity
Out-of-pocket expenses associated with chronic use of topical eye gels and drops (e.g. RGTA Technology–based solutions) and challenges with autologous serum drops production affect the treatment approach and sequence as well as access to treatment of neurotrophic keratitis
The factors mentioned above are anticipated to restrain the global neurotrophic keratitis market
North America to Account for Major Share of Neurotrophic Keratitis Market
North America is projected to account for leading share of the global neurotrophic keratitis market due to rise in product approvals, well-established health care infrastructure, increase in technological advancements, rise in number of well-equipped laboratories, surge in research & developmental activities in neurotrophic keratitis, growing healthcare industry, and presence of key players
The neurotrophic keratitis market in Asia Pacific is projected to grow at a rapid pace during the forecast period due to increase in geriatric population, rise in research & developmental activities, surge in initiatives by governments in the healthcare sector, and rise in interest of key players in expanding presence in the region
Neurotrophic Keratitis Market: Competition Landscape
This report profiles major players in the global neurotrophic keratitis market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
Key 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,
- OHTO Pharmaceutical Co., Ltd.,
- Pfizer, Inc.,
- Neuroptika
- Santen Pharmaceutical Co., Ltd.,
- Johnson & Johnson,
- Grand Pharma (China) Co., Ltd., and
- Zhejiang CONBA Pharmaceutical Co., Ltd.
Neurotrophic Keratitis Market – Segmentation
Treatment Type
- Drugs
- Artificial Tears
- Recombinant Human Nerve Growth Factors Eye Drops
- Antibiotics
- Bandage Contact Lens
- Others
- Surgical Intervention
- Tarsorrhaphy
- Amniotic Membrane Transplantation
- Others
Application
- Stage I
- Stage II
- Stage III
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Purchase Complete Report Now@ https://qyresearchmedical.com/report/checkout/111893/2900
