Jersey City, NJ, March 25, 2024 (GLOBE NEWSWIRE) -- Global Ocular Inflammation Treatment Market is valued at US$ 428.7 Mn in 2023, and it is expected to reach US$ 690.4 Mn by 2031, with a CAGR of 6.31% during the forecast period of 2024-2031.
Ocular inflammation is a class of inflammatory disease that mostly affects the uvea region of the eye and causes damage to the tissue of the eye. Blood from the uvea is supplied to the light-sensitive retina, which is located in the eye and focuses images on the brain. As a result of this disease, vision loss or reduced vision may ensue. Uveitis symptoms include pain and redness in the eyes, sensitivity to light, impaired vision, and reduced eyesight.
The growing elderly population drives the need for ocular inflammation therapies, one of the main factors contributing to eye infections. Older people prefer natural treatments over pharmaceutical ones for persistent ocular inflammation since they are less risky and have no negative side effects. Rapid urbanization, pollution from industry, and population growth are the main causes of the environmental problem. Therefore, the escalation of environmental crises is fueling the growth of the ocular inflammation therapy market. However, the high cost of uveitis drugs hinders the market's expansion.
Get Free Sample of this Report @ https://shorturl.at/vxCJ9
List of Prominent Players in the Ocular Inflammation Treatment Market:
- Bausch Health Companies, Inc.
- Pfizer Inc.
- Novartis AG
- AbbVie, Inc.
- Cipla Inc.
- EyeGate
- Alimera Sciences
- EyePoint Pharmaceuticals, Inc.
- Ocular Therapeutix, Inc.
- Santen Pharmaceutical Co., Ltd.
- Akron Pharma Inc
- Sanofi S.A.
- GlaxoSmithKline plc
- Intas Pharmaceuticals Ltd
- Johnson & Johnson Services Inc.
- Macleods Pharmaceuticals Ltd.
- Merck & Co. Inc.
- Tarsier Pharma
- Other Market Players
Read Report Overview @ https://shorturl.at/cioKZ
Market Dynamics:
Drivers:
The growing demand for the ocular inflammation treatment market is fueled by several factors, including the emergence of novel allergens, the rise in passive lifestyle adoption, the adoption of contact lenses, the requirement for pink eye therapy, and an increase in the frequency of eye procedures. There is an increasing need for the treatment of eye infections due to the rise in cases of glaucoma, cataracts, diabetic retinopathy, and age-related macular degeneration (AMD). Therefore, the market for ocular inflammation treatments is growing as the prevalence of optical illnesses increases.
Challenges:
The prime challenges are insufficient knowledge and high cost, a shortage of competent individuals, and a lack of norms and protocol because of lockdowns and isolation in emerging countries, which is predicted to slow the growth of the ocular inflammation treatment market. The pathogenesis and unclear aetiology of uveitis are expected to hinder market expansion. The high cost of care, the lack of knowledge about ocular inflammation, and the negative side effects of treatments are predicted to impede market expansion. The difficult manufacturing procedure is anticipated to impede the expansion of uveitis treatments worldwide. For instance, a distinct manufacturing method is required for eye care goods to ensure they comply with GMP rules for sterile products. The formulations are created in a highly shielded area since they are susceptible to contamination by environmental microorganisms.
Regional Trends:
The North American ocular inflammation treatment market is anticipated to register a major market share in terms of revenue. It is projected to grow at a high CAGR in the near future because the use of uveitis treatment items and awareness of uveitis treatment is expanding in the area. Healthcare technology is progressing partly due to the region's growing research and development sector. In addition, the market for uveitis treatments is expanding in North America due to healthcare reforms and efforts. Besides, Asia Pacific had a considerable share in the market because of the existence of the product's primary manufacturer, significant investment in healthcare and research and development, and qualified personnel.
Recent Developments:
- In January 2024, Tarsier Pharma received FDA approval through the Special Protocol Assessment (SPA) for the Tarsier-04 Phase 3 Trial of TRS01 Ophthalmic Solution. This study seeks to assess the effectiveness of the treatment of non-infectious veitis, which includes Uveitic glaucoma.
- In Sept 2023, Novartis successfully sold its ophthalmology assets related to the front of the eye to Bausch + Lomb, a multinational corporation specializing in eye health. The transaction was estimated to be worth USD 2.5 billion, consisting of an initial cash payment of 1.75 billion and the possibility of future milestone payments.
Segmentation of Ocular Inflammation Treatment Market-
By Treatment Type-
- Corticosteroids
- Antibiotics
- Monoclonal Antibodies
- Immunosppressant
- Cycloplegic Agents
- Antivirals
- Antifungal
- Analgesics
By Disease Type-
- Anterior Uveitis
- Posterior Uveitis
- Pan Uveitis
- Intermediate Uveitis
- Episcleritis/Scleritis
By Mode of Administration-
- Topical
- Injectable
- Oral
- Others
By Distribution Channel-
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Drug Stores
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
