As per Precedence Research, the global conjunctivitis market size is expected to reach US$ 5.85 billion by 2028, expanding growth at a CAGR of 3.65% over the forecast period 2022 to 2030.
As per Precedence Research, the global conjunctivitis market size is expected to reach US$ 5.85 billion by 2028, expanding growth at a CAGR of 3.65% over the forecast period 2022 to 2030.
Conjunctivitis, sometimes known as pink eye, is becoming more common around the world, supporting market expansion. Conjunctivitis is treated with conjunctivitis medications. Bacterial, allergic, viral, and chemical conjunctivitis are among the many forms of conjunctivitis. The number of people is affected by conjunctivitis, which has economic and societal consequences. The rising prevalence of conjunctivitis is one of the primary factors impacting conjunctivitis market growth. It has been discovered that primary care physicians, rather than eye care professionals, are the first line of therapy for the majority of conjunctivitis patients. Furthermore, rising hygiene and awareness, rising health-care spending, increased exposure to allergens and infectious agents, and the contagious nature of the condition are projected to propel market expansion.
The rising prevalence of bacterial conjunctivitis necessitates the development of novel medications, such as vancomycin ophthalmic ointment, which are now in clinical trials and awaiting FDA approval. The shift in preference for herbal treatment over pharmacological treatment, on the other hand, is projected to open up new potential in the conjunctivitis industry. Furthermore, herbal formulation-based medications are generally acknowledged, resulting in the development and investment in herbal products for conjunctivitis therapy. The conjunctivitis industry is predicted to grow in response to the aforementioned scenario.
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International and local businesses compete in the conjunctivitis market. The condition is self-diagnosable, and hospitalization is not necessarily required. As a result, people rely on home cures or over-the-counter medications to treat their ailments. Local enterprises in many nations are doing well in this industry because the cost of the drug is lower and people’s preference for over-the-counter medications is growing.
Report Highlights:
- Based on the type, the allergic conjunctivitissegment dominated the global conjunctivitis market in 2020 with largest market share. The allergic conjunctivitis is a frequent condition that causes eyelid swelling and itchiness. Allergic conjunctivitis is more common in those who have allergies.
- On the basis of patient type, the adultssegment holds the largest market share the global conjunctivitis market in 2020. The increased exposure to harmful chemicals and compounds is leading to an increase in the number of cases of conjunctivitis around the world.
- By drug class, the anti-histaminic segment is the largest segment in the conjunctivitis market. The anti-histamines are expected to increase at the quickest rate over the projection period, owing to their reputation as the standard treatment for ocular allergies.
- North America is the largest segment for conjunctivitis market in terms of region. This is due to the region’s great knowledge of ocular allergies, the disease’s high prevalence and the presence of large players, which has resulted in the development of advanced medications.
- Asia-Pacific region is the fastest growing region in the conjunctivitis market. This is attributed to the rising awareness, significant increases in healthcare expenditure and an increasing frequency of ocular allergies in the region.
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Future of Conjunctivitis Market
The ocular allergy has been much more common in recent decades as a result of a number of causes including rising urbanization and industrialization as well as an increase in the number of allergens. As a result, a number of biopharmaceutical companies have joined research and development activities to produce effective therapies for this kind of conjunctivitis. During the projected period, these research and development initiatives are expected to propel the conjunctivitis market forward. Due to the physiological restrictions on drug bioavailability imposed by the structure of the eye, there has been a lot of interest in the development of innovative drug delivery technology.
COVID-19 Impact Analysis:
- The COVID-19 epidemic had a negative influence on global conjunctivitis market growth, as ophthalmologist visits have been curtailed due to worldwide lockdowns.
- At the same time, due to number of over-the-countermedicines launches in the conjunctivitis market, the industry has been experiencing strong patterns of sales comeback in the later financial quarters of 2020.
Key Developments in the Marketplace:
- Pataday Once Daily Relief Extra Strength will be widely available in the U.S. starting in February 2021, according to Alcon.
- Alaway Preservative Free anti-histamine eye drops, the first over the counter preservative free formulation eye drop, was introduced by Bausch and Lomb in February 2021.
- Santen Pharmaceutical Co. Ltd declared in June 2021 that Verkazia has been approved by the FDA for the treatment of vernal keratoconjunctivitis in adults and children expanding its pharmaceutical portfolio.
- Eyevance Pharmaceuticals, a subsidiary of Santen Pharmaceutical Co. Ltd entered into a strategic agreement with Hikima Pharmaceuticals PLC in February 2021 to co-promote ZERVIATE, a drug used to treat ocular itching associated with allergic conjunctivitis in the U.S.
- Pataday, which is used to provide long lasting eye allergy itch relief to patients suffering from allergic conjunctivitis, will be available in retail and online in the U.S. in February 2021, according to Alcon Inc.
Major Market Segments Covered:
By Type
- Bacterial Conjunctivitis
- Viral Conjunctivitis
- Allergic Conjunctivitis
By Patients Type
- Pediatric
- Adults
By Drug Class
- Antibiotics
- Anti-Histaminic
- Decongestant
- Steroid Drugs
- Others
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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