NEWARK, Del, Aug. 26, 2022 (GLOBE NEWSWIRE) -- The global conjunctivitis market is anticipated to portray a phenomenal growth opportunity by exhibiting a 5.8% CAGR with a valuation of US$ 1825.8 Million by 2022. The market is expected to surpass about US$ 3208.7 Million by 2032.
The increasing prevalence of diseases and novel treatment options is surging the demand for the conjunctivitis market globally. There is a variety of conjunctivitis such as swelling of the conjunctiva, a tissue covering the white porting of the eye, which is called allergic conjunctivitis caused by an allergy.
It is usually caused due to allergens found in patients which can be traced from household dust, pollen from grass and trees, animal dander, and chemical scents. There are several treatment options, some of which include oral medications, immunotherapy, and eye drops among others.
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Key Takeaways
- Due to fast-paced technological advancement, growing disease prevalence, expansion of the geriatric population and increasing demand for effective drugs are making the global conjunctivitis market skyrocket over the estimation period. All the above-mentioned factors are responsible for fueling market growth.
- According to the FMI analysis, the global conjunctivitis market is upscaling at such a lightning-fast speed because of increasing air pollution in most cities across the world. As per a research study conducted in 2016 by the National Center for Biotechnology Information (NCBI) the prominent reasons for the occurrence and worsening of allergic conjunctivitis are ambient air pollution and weather changes. Due to the ever-increasing noise pollution, the conjunctivitis market is witnessing positive growth opportunities.
- Due to visible changes in worsening air pollution and changing weather conditions, the conjunctivitis market is expected to rise during the forecast period from 2022 to 2032. These factors lead to the conjunctiva being sensitive to environmental particles coupled with direct contact of the conjunctiva with the external environment.
- With widespread awareness about allergic conjunctivitis within the healthcare industry and medical communities, patients and individuals are taking precautionary steps to avoid such allergies. Moreover, the introduction of advanced medical treatment is propelling overall growth in the conjunctivitis market.
- Changing lifestyles and an overall surge in the number of patients suffering from allergic conjunctivitis are primary factors boosting the growth of the market.
Competitive Landscape
The prominent players in the market are planning to invest in research and development initiatives to innovate new drugs and therapies for efficiently treating ocular disorders. The recent awareness of ocular allergies has tremendously elevated backed by numerous factors such as faster urbanization and a growing number of allergens.
Key Companies Profiled
- Boehringer Ingelheim GmbH
- Allergan Inc.
- Sanofi-Aventis
- Atopix Therapeutics Ltd.
- Novartis AG, Ocular Therapeutix, Inc.
- Bausch & Lomb Inc.
- Akorn Incorporated.
- Auven Therapeutics
- Sirion Therapeutics, Inc.
- Sun Pharma Advanced Research Company Ltd.,
- Boehringer Ingelheim International GmbH.
- IBA Vision Ophthalmics
- Pfizer Inc.
- Merck & Co., Inc.
- Santen Pharmaceuticals Co. Ltd.
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Key Segments of the Conjunctivitis Market
By Type:
- Giant Papillary Conjunctivitis
- Seasonal Allergic Conjunctivitis
- Vernal Keratoconjunctivitis
- Contact Conjunctivitis
- Perennial Conjunctivitis
- Atopic Keratoconjunctivitis
By Treatment:
- Mast Cell Stabilizers
- Decongestant
- Immunotherapy
- Antihistamines
- Non-steroidal Anti-Inflammatory Drugs
- Olopatadine
- Epinastine
- Ointments
- Others
More Insights into the Conjunctivitis Market
The North American market is expected to dominate the global conjunctivitis market accounting for a total market revenue of 27% in 2022. FMI analysts predict that the North American region is expected to boom the global market growth over the forecast period.
North America is attributed as the largest market owing to the increasing prevalence of allergies in the region. According to a recent survey, it has been estimated that approximately 70 to 80 million Americans suffer from ocular allergy. Due to greater awareness of ophthalmic allergies in the region, the market is expected to propel.
All the major key players come from North America, which results in novel and advanced drug launches, and the robust spread of this disease, are factors attributing to the market's growth. The United States is expected to portray positive growth accounting for the dominant market share over the coming years.
Europe is yet another region leading behind the North American region. It has been accountable for a total of 22% of the global market share in the global conjunctivitis market. Europe has emerged as the second largest regional market owing to a massive share of the total market due to the development of sophisticated drugs in the market.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
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