Ocular Therapeutix neurostimulation therapy is the fastest growing segment fueling growth of the Neuropathic Ocular Pain Market
Market Overview:
Neuropathic ocular pain arises due to damage or dysfunction of ocular nerve fibers. Neuropathic ocular pain drugs provide relief from burning, stinging, pain sensation in eyes. These drugs helps in alleviating pain through modulating neurotransmitters in pain pathways.
Market key trends:
One of the key trends in the neuropathic ocular pain market is the launch of new digital technologies providing non-invasive pain relief therapies. For instance, OKYO Pharma, Limited has developed “okyoguard”, which is a non-invasive ocular neurostimulation platform technology. This uses pulsed radiofrequency field stimulation to provide pain relief for up to 3 months in patients with neuropathic ocular pain conditions like dry eye. This non-invasive digital technology provides an alternative to drug therapy and helps in improving patient’s quality of life by alleviating chronic ocular pain. Such new innovative therapies are fueling the growth of neuropathic ocular pain market.
Segment Analysis
The global Neuropathic Ocular Pain Market Share is dominated by the drug therapy segment. This is because drug therapy is the most effective treatment method in providing relief from neuropathic ocular pain conditions like trigeminal neuralgia, post-herpetic neuralgia, diabetic ocular neuropathy and others. Some of the widely used drug therapies include antidepressants, anticonvulsants and local anesthetics.
Key Takeaways
The global neuropathic ocular pain market is expected to witness high growth, exhibiting a CAGR of 3.1% over the forecast period, due to increasing prevalence of ocular pain disorders like diabetic retinopathy and trigeminal neuralgia.
Regional analysis
North America dominated the global neuropathic ocular pain market in 2023, accounting for a share of over 35%, and is expected to maintain itsdominance over the forecast period. This is attributed to factors such as rising burden of diabetes, increase in older population and availability of advanced treatment options in the region. Asia Pacific is poised to exhibit the fastest growth due to rising healthcare expenditure and growing awareness regarding neuropathic ocular pain management.
Key players
Key players operating in the neuropathic ocular pain market are OKYO Pharma, Limited, Ocular Therapeutix, Inc., IACTA Pharmaceuticals, Inc., Sun Pharmaceutical Industries Ltd., Novartis AG, SALVAT, AbbVie Inc., Bausch & Lomb Incorporated, Kala Pharmaceuticals, Spectra Vision Care, Alcon Laboratories, AERIE PHARMACEUTICALS, INC., Optocred Pharmaceuticals and BRIM Biotechnology, Inc. OKYO Pharma, Limited and Ocular Therapeutix, Inc. are two of the leading players in the market.
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