The latest market report published by Credence Research, Inc. “Global neurotrophic keratitis Market – Growth, Future Prospects, Competitive Analysis, 2019- 2027,” the global neurotrophic keratitis market is expected to expand at a CAGR of 5.2% from 2019 to 2027.
Ophthalmologist are currently employing the healing pathway of nerve growth factor (NGF) which is a neurotrophin that initiates neuronal sprouting by injured and intact neurons, a landmark discovery made by R. Levi Montalcini a nobel laureate. The human cornea produces high affinity NGF receptors which plays an important role in stimulating both survival and proliferation of epithelial and nerve fibres. Oxervate follows this pathway to treat neurotrophic keratitis across all age group.
Neurotrophic keratitis is an orphan disease with a global prevalence rate of 5 per 10,000 people. It is manifested by the damage of trigeminal nucleus nerve innervations present in the eye corneal region which dampens the healing process of corneal injuries. The treatment approach is adopted as per the different stages of the disease. Artificial tears are recommended in all the phases to ensure wetness, cleanliness and lubrication of the corneal surface. Topical antibiotics are prescribed in the stage 2 of the disease as a preventive measure against bacterial infection. In stage 3 surgical procedures such as Tarsorraphy, and amniotic membrane transplantation are preferred to treat corneal ulcers. Recent approval of Oxervate a recombinant human nerve growth factor by EMA and USFDA will bolster the neurotrophic market growth during the forecast period.
Browse the full report Neurotrophic Keratitis Market – Growth, Future Prospects, Competitive Analysis, 2019 – 2027 report at https://www.credenceresearch.com/report/neurotrophic-keratitis-market
North America is responsible for 33% market share and is currently the largest regional segment in neurotrophic keratitis market. As per the research findings brought forward by the American Academy of Ophthalmology (AAO), approximately 65,000 U.S. citizens are reported to be suffering with neurotrophic keratitis. Affordable reimbursement scenario propels the neurotrophic keratitis market growth in North America region. Europe trails North America and accounts for 28.5% market growth primarily due to strategic collaboration between academic research institute and pharmaceutical giants to develop novel drugs for the treatment of neurotrophic keratitis. European Medical Agency (EMA) has awarded orphan disease status to neurotrophic keratitis and has expedited its drug development and sale propaganda in the EU market. Asia Pacific holds 16% market share owing to the rising prevalence of neurotrophic keratitis in geriatric population and rampant growth in ophthalmology in the region over the last decade.
Pharmaceutical companies specializing in providing medication for the treatment of neurotrophic keratitis are Allergan, Plc., Abbott Laboratories, Inc., Bausch & Lomb Incorporated, Bayer AG, CooperVision, Dompe farmaceutici S.p.A., Johnson & Johnson, Novartis AG, ReGenTree, LLC., and Walgreens.
Key Market Movements:
- Rising prevalence of neurotrophic keratitis worldwide
- Supportive regulatory scenario provided for the growth of neurotrophic keratitis market by the healthcare agencies throughout the globe
- Recent approval by EMA and priority review designation awarded by the USFDA will help to flourish the Oxervate market for the treatment of neurotrophic keratitis in North America and Europe
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