Optic Neuritis Treatment Market Size

Optic Neuritis Treatment Market Analysis

The optic neuritis treatment market is expected to register a CAGR of 4.1% over the forecast period.

The outbreak of the pandemic impacted the market. The COVID-19 infection increased the prevalence rate of optic neuritis. For instance, as per the NCBI research study published in December 2021, post-COVID optic neuritis was identified as a possible neurological complication of the novel coronavirus infection. The same study also reported that females were more affected by optic neuritis and retinal complications. Thus, the increase in cases of optic neuritis due to COVID-19 positively impacted the market as it increased the demand for optic neuritis treatment. However, the cancellations of ophthalmology services slightly adversely impacted the market. For instance, as per the journal published by the Eye Surgery Center of Paducah in 2022, during the initial months of the pandemic, of all medical service lines, ophthalmology had the greatest patient volume loss. The same source also stated that ophthalmology lost 81.0% of patient volume year-over-year when comparing two-week volumes in March and April 2020 versus the same period in previous years. Although, with the resumption of ophthalmology services and increasing number of cases of optic neuritis, the market started to gain traction and is expected to maintain the upward trend over the forecast period.

The increasing prevalence of optic neuritis is one of the major factors propelling market growth over the forecast period. In addition, according to the Optic Neuritis Foundation Inc. report published in 2021, an estimated 15.0% to 20.0% of the people suffering from optic neuritis are likely to end up suffering from multiple sclerosis. Furthermore, as per the NCBI study published in 2021, optic neuritis affects roughly 70.0% of patients with multiple sclerosis and is one of the presenting symptoms in approximately 25.0% of individuals. The same source also stated that women were affected twice as often as men. Furthermore, as per the PLOS journal published in June 2022, optic neuritis is a relatively common disease with an estimated lifetime risk of 0.6 per 1000 and an estimated prevalence of 1-5 per 100,000 per year. In addition, according to the UpToDate Journal published in December 2022, the incidence of optic neuritis is highest in populations located at higher latitudes, such as in the northern United States and western Europe, and is lowest in regions closer to the equator. In the United States, studies have estimated the annual incidence of optic neuritis to be as high as 6.4 per 100,000. Thus, such an increasing prevalence of optic neuritis is expected to increase the demand for optic neuritis treatment, thereby propelling market growth over the forecast period.

Furthermore, increasing research work related to optic neuritis treatment is also anticipated to propel market growth. For instance, as per the BMC journal published in December 2021, mesenchymal stem cell (MSC) therapy is a promising approach that results in remyelination and neuroprotection of axons and has demonstrated success in clinical studies in other neuro-degenerative diseases. The study also stated that mesenchymal stem cell-derived extracellular vesicles can be considered as an emerging treatment strategy for optic neuritis. Similarly, as per the research study published by the BMC journal in September 2021, the Optic Neuritis Treatment Trial (ONTT) combined corticosteroid regimen has demonstrated improved conduction in the visual pathways of patients with first-episode optic neuritis. Therefore, increasing research work related to optic neuritis treatment is expected to spur market growth over the forecast period.

However, side effects associated with the treatment may hinder the market's growth over the forecast period.