Technavio analysts forecast the global neurotrophic keratitis treatment market to grow at a CAGR of over 4% during the forecast period, according to their latest market research report.
The use of rhNGF is one of the major trends being witnessed in the global neurotrophic keratitis treatment market 2018-2022. The rhNGF is regarded as a promising therapy for the neurodegeneration of the central and peripheral nervous systems as well as for several other pathological conditions related to the immune system. It is a protein that is naturally produced by the body, and it promotes the development and survival of nerve cells, including those of the retina.
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According to Technavio analysts, one of the key factors contributing to the growth of the global neurotrophic keratitis treatment market is the growing geriatric population:
Global neurotrophic keratitis treatment market: Growing geriatric population
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The geriatric population has been growing significantly over the last few years globally. Age-related changes in the cornea and ocular surface tissues have a major effect on vision.
According to a senior analyst at Technavio for research on infectious and rare diseases, Changes in peripheral nerves, including a reduction in the number of specialized peripheral receptors and the deterioration of myelinated and unmyelinated axons, are known to occur with age. Moreover, the number of mucous cells in the conjunctiva may decrease with age. Tear production may also decrease with age, which will make the eyes dry. These changes explain why older people are more likely to develop dry eyes. Thus, the growth of the geriatric population is expected to trigger the growth of neurotrophic keratitis treatment market.
Global neurotrophic keratitis treatment market: Segmentation analysis
The global neurotrophic keratitis treatment market research report provides market segmentation by product (TA, rhNGF, and others) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products, TA and rhNGF, the TA segment held the largest market share in 2017, contributing to over 42% of the market. This application segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting for close to 40% share, followed by EMEA and APAC respectively. The dominance of the region can be attributed to the rise in the number of product approvals in the US and the increase in funding from various organizations for the development of new drugs for the treatment of neurotrophic keratitis.
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Five Forces Analysis
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