NEUROPATHIC OCULAR PAIN MARKET ANALYSIS

Neuropathic Ocular Pain MarketSize and Trends

Global Neuropathic Ocular Pain market is estimated to be valued at US$  197.1 million in 2023 and is expected to exhibit a CAGR of 3.13% during the forecast period (2023-2030). Increase in product launches by key market players is expected to drive the market growth over the forecast period. Moreover, an increase in government and non-government organizations' initiatives to improve access to affordable vision care and an increase in awareness among people regarding eye-related disease are expected to drive the market growth.

Figure 1. Global Neuropathic Ocular Pain Market Share (%), by Drug Class, 2023

Global Neuropathic Ocular Pain Market- Driver

Rise in awareness of the importance of eye health

An increase in awareness campaigns regarding the importance of eye health is expected to drive the market growth over the forecast period. For instance, in June 2021, the National Alliance for Eye and Vision Research (NAEVR), in collaboration with Tear Film & Ocular Surface Society Boston, a U.S.-based organization involved in educating people relating to eye health, announced that they hosted a dry eye awareness campaign in the U.S. to educate people regarding the importance of eye health.

An increase in collaboration and partnership by key market players

Key market players are adopting growth strategies such as partnerships and collaborations to launch new products. This is expected to drive the market growth over the forecast period. For instance, in October 2020, Ocular Therapeutix, Inc., a biopharmaceutical company, announced that it had collaborated with AffaMed Therapeutics, a clinical-stage biopharmaceutical company, to launch DEXTENZA, a U.S. FDA-approved product for the management of ocular pain, in Greater China, South Korea, and the ASEAN markets.

Figure 2. Global Neuropathic Ocular Pain Market Share (%), by Region, 2023