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Neuropathic ocular pain refers to eye pain resulting from disease or injury affecting the somatosensory nervous system. Some of the common causes include herpes zoster ophthalmicus, trigeminal neuralgia, and diabetic neuropathy. Neuropathic ocular pain medications help in resolving pain and discomfort associated with conditions likeburning sensation, stabbing pain, and photophobia. The global Neuropathic Ocular Pain Market is estimated to be valued at US$ 197.1 Mn in 2023 and is expected to exhibit a CAGR of 3.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing prevalence of neuropathic disorders across the globe is the major factor augmenting the growth of the neuropathic ocular pain market over the forecast period. For instance, according to the National Institute of Neurological Disorders and Stroke, it is estimated that approximately 1 million people in the United States have trigeminal neuralgia. The increasing geriatric population is more vulnerable to develop neuropathic conditions due to age-related decline of the nervous system, thereby driving the demand for neuropathic ocular pain therapeutics. Moreover, rising R&D investments by major players for the development of innovative and effective drugs for neuropathic ocular pain treatment also contributes to the market growth.
SWOT Analysis
Strength: Neuropathic ocular pain drugs have clear mechanism of action and treatment approaches. Drugs like gabapentin and pregabalin are well established.
Weakness: Adverse effects of neuropathic ocular pain drugs like dizziness, sleepiness and peripheral edema limit their use. Alternative treatment options like acupuncture are also available.
Opportunity: Increasing incidence of neuropathic conditions like diabetes and cancer provide growth opportunities. Rising awareness about novel drugs also supports market growth.
Threats: Patent expiry of blockbuster drugs increases generic competition. Stringent regulations for drug approval are major challenges.
Key Takeaways
The global neuropathic ocular pain market is expected to witness high growth.
North America currently dominates the market due to rising prevalence of neuropathic pain disorders and growing number of drug approvals. The Asia Pacific region is expected to witness fastest growth over the forecast period due to expanding healthcare infrastructure, large patient population and improved access to therapies.
Key players operating in the neuropathic ocular pain market are Pfizer, Inc., Eli Lilly and Company, Arbor Pharmaceuticals, LLC, Mallinckrodt Pharmaceuticals, Teva Pharmaceutical Industries Ltd., Privi Pharma Limited, Novartis AG, Allergan plc, AstraZeneca plc and Johnson & Johnson. These players are focused on developing advanced treatment options and strategies like acquisitions and collaborations to strengthen their market position.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
