Pune, India, July 26, 2019 (GLOBE NEWSWIRE) -- Market Research Future (MRFR) has offered an analysis of the global Eye Allergy Treatment Market which projects that the market is poised to expand at 5.3% CAGR across the forecast period 2018 to 2023. The market is assessed to reach a valuation of USD 2342.16 Mn by 2023. Ophthalmic disorders are widely prevalent around the world which has led to large-scale adoption of advanced technologies for diagnosis. This, in turn, is anticipated to expedite the growth of the market over the next few years.
Older adults are more prone to developing eye allergies. Increasing geriatric population is another major factor projected to favor the expansion of eye allergy treatment market in the forthcoming years. In addition, the developments in eye allergy treatment portfolio of the key players are anticipated to propel market growth in the foreseeable future. Also, the support extended by the organizations and government bodies for making healthcare facilities more accessible is prognosticated to support the expansion of the market during the assessment period.
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Key Players:
The noted players in the global eye allergy treatment market profiled in this MRFR report are Allergan Plc, Novartis AG, Johnson & Johnson Services Inc, Bausch Health (Valeant Pharmaceuticals International Inc.), Teva Pharmaceutical Industries Ltd, Santen Pharmaceutical Co. Ltd, Nicox, Akorn Inc., Nutra Essential OTC, and Shire.
Market Segmentation:
The report covers a detailed segmental analysis of the global Eye Allergy Treatment Market based on type, treatment, and end-user. By type, the market is segmented into seasonal and perennial allergic conjunctivitis, vernal keratoconjunctivitis, atopic keratoconjunctivitis, contact allergic conjunctivitis, and giant papillary conjunctivitis. The Vernal keratoconjunctivitis segment is further sub-segmented into limbal, corneal, palpebral, and others. Among these, the seasonal and perennial allergic conjunctivitis segment is anticipated to expand at a substantial pace owing to the large-scale prevalence of SAC and PAC.
On the basis of treatment, the eye allergy treatment market has been segmented into allergy shots (immunotherapy), medication, and others. The allergy shots (immunotherapy) segment has been sub-divided into Sublingual Immunotherapy Treatment (SLIT) and Subcutaneous Immunotherapy Treatment (SCIT). The medication segment is sub-segmented into decongestants, artificial tears, antihistamine/mast-cell stabilizers, oral antihistamines, and corticosteroids. The decongestants sub-segment is further sub-divided into with or without antihistamines. The medication segment is anticipated to account for the larger market share owing to its greater effectiveness in treating eye allergies. It is expected to reach a valuation of USD 1860.78 Mn by 2023. The rising demand for artificial tears is poised to boost the growth revenue of the market in the years to come.
Browse the market data and information spread across 159 pages with 170 data tables and 20 figures of the report “Eye Allergy Treatment Market Research Report - Global Forecast till 2023” in depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/eye-allergy-treatment-market-3811
By end-user, market has been segmented into medical institutes, eye hospitals & clinics, research centers, and others. Among these, the eye hospitals & clinics segment has been projected to exhibit significant growth over the next few years. Factors such as increasing adoption of minimally invasive technologies, rising number of hospitals & clinics, etc. are anticipated to propel the expansion of the segment in the foreseeable future.
Regional Segment:
The global eye allergy treatment market, by region, has been segmented into Asia Pacific, Americas, Europe, and the Middle East & Africa (MEA). Americas is projected to hold a significant share of the market through the review period. The region is burdened with increasing ophthalmic disorders. In addition, the rising number of older adults is leading to a drastic rise in the patient population of the region. These factors are projected to catapult the regional eye allergy treatment market on its growth trajectory.
Europe is anticipated to exhibit moderate CAGR during the assessment period. The rising adoption of advanced technologies for ophthalmic diagnosis is the key factor expected to propel the expansion of the regional segment in the years to come. Asia Pacific, on the other hand, is prognosticated to mark the highest CAGR over the projection period.
Latest Industry News:
Ocular Therapeutix Inc, a biopharmaceutical platform company, has received approval from the Food & Drug Administration (FDA) for the expansion of usage of Dextenza. It can now be used for the treatment of ocular inflammation that follows ophthalmic surgeries.
The Food & Drug Administration (FDA) has approved high-tech device successfully used by a doctor at Penn Hospital Medicine’s Scheie Eye Institute that does the trick with quick zap for treating dry eyes.
Summary:
Increasing patient population, especially due to the rising number of older adults, is likely to increase the prevalence of ophthalmic disorders over the next couple of years. The governments are also extending support in favor of the advancements in ophthalmic treatments. This, in turn, is projected to catapult the eye allergy treatment market on upward trajectory.
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