DUBLIN, Aug. 25, 2023 /PRNewswire/ — The “Global Neurotrophic Keratitis Market (2023-2028) by Route of Administration, Distribution Channel, and Geography, Competitive Analysis, Impact of Covid-19 and Ansoff Analysis” report has been added to ResearchAndMarkets.com’s offering.
The Global Neurotrophic Keratitis Market is estimated to be USD 225.68 Mn in 2023 and is expected to reach USD 518.51 Mn by 2028, growing at a CAGR of 18.1%.
The rising prevalence of fungal keratitis, a serious fungi-caused eye illness, contributes to the rise in neurotrophic keratitis. Fungal keratitis can cause corneal damage, impairing nerve function and resulting in neurotrophic keratitis, a difficult condition to treat. The increase in visual impairment caused by fungal keratitis highlights the need for improved medicines and increasing knowledge of preventive measures.
Milder climates give ideal circumstances for fungal development, resulting in a higher incidence of fungal keratitis. As the infection worsens, it might compromise corneal sensitivity, leading to neurotrophic keratitis. The geographical association emphasizes the significance of developing specialized strategies and resources for these regions in order to treat the related neurotrophic keratitis burden.
The rising number of contact lens wearers and poor lens care raise the risk of infections such as fungal keratitis. Because of corneal nerve injury, these infections can eventually progress to neurotrophic keratitis. Improving public education on contact lens care is critical to reducing this avoidable cause of neurotrophic keratitis.
With the increasing prevalence of fungal keratitis as a cause of neurotrophic keratitis, there is a potential to develop and sell enhanced topical antifungal medicines. Antifungal, aggressive and successful drugs can help battle fungal infections more effectively, lowering the risk of neurotrophic keratitis and improving patient outcomes. Such inventions can address unmet market demands and provide improved therapeutic alternatives.
As our comprehension of fungal keratitis grows, there is a window of opportunity to engage in research and development of novel therapeutic options. Innovative therapeutics, such as targeted drug delivery systems, combination therapy, and new classes of antifungal drugs, have the potential to transform the treatment landscape for fungal keratitis and, as a result, reduce the incidence of neurotrophic keratitis. Market entrants with innovative products have the ability to make a substantial impact and achieve a competitive advantage.
However, in instances of fungal keratitis, the market is hindered by a lack of accurate antifungal recommendations suited to individual fungal isolations. The lack of personalized treatment guidelines hinders optimized therapy approaches, potentially leading to inferior outcomes and challenging, effective management of the condition.
The industry is being challenged by an increase in unsuccessful medical operations and fungal recurrence in patients with fungal keratitis. Recurrent infections can cause neurotrophic keratitis, encouraging new and more effective treatment options.
Market Segmentations
Topical holds a larger market share. It is favored because of its simplicity, lack of invasiveness, and direct application to the affected area. Topical drugs enable targeted therapy, making them a popular and easily accessible treatment choice for patients.
Hospitals hold a larger market share. Due to the condition’s complexity and the necessity for specialized medical treatment and prescription medications, hospital distribution channels predominate. Cases of neurotrophic keratitis are often managed and treated in hospital settings by healthcare personnel.
The Americas hold a larger market share. This is due to factors such as higher healthcare spending, improved medical infrastructure, and increased knowledge of the disease, which has resulted in better diagnosis and treatment rates in the region when compared to others.
Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories.
Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Market Dynamics
Drivers
Rising Visual Impairment Due to Fungal Keratitis
- Increasing Number of Fungal Keratitis in Regions with Mild Temperature Climates
Restraints
- Non-Availability of Antifungal Recommendations with Specific Fungal Isolation
Opportunities
- Aggressive Topical Antifungal Therapy for the Treatment
- New Product Developments in the Treatments of Fungal Keratitis
Challenges
- Rising Number of Failed Medical Surgeries in a Reappearance of Fungus
Market Analysis
- Regulatory Scenario
- Porter’s Five Forces Analysis
- PESTLE Analysis
- Impact of COVID-19
- Ansoff Matrix Analysis
Company Profiles
- AbbVie Inc.
- Alcon
- Alvogen
- Auroa Pharmaceutical Inc.
- Bausch Health
- BridgeBio Pharma, Inc.
- Bristol Myers Squibb Company
- Eyevance
- Gilead Biosciences
- Glenmark
- Johnson & Johnson
- Kala Pharmaceuticals, Inc.
- Leadiant Biosciences
- Merck
- Novartis AG
- Novo Holdings
- Otsuka Pharmaceutical Co., Ltd.
- Pfizer
- Santen Pharmaceuticals
- Sun Pharmaceutical Industries Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/io4c3j
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