SEATTLE, Aug. 12, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the Global Allergic Conjunctivitis Market is estimated to be valued at US$ 2,486.7 million in 2021 and is expected to exhibit a CAGR of 5.4% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Allergic Conjunctivitis Market:
Key trends in the market include new product launches and regulatory approval, which is expected to drive the global allergic conjunctivitis market growth over the forecast period. For instance, in February 2021, Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc., announced the U.S. launch of Alaway Preservative Free (ketotifen fumarate ophthalmic solution 0.035%) antihistamine eye drops, the first and only over-the-counter (OTC) preservative-free antihistamine eye itch relief drop approved by the U.S. Food and Drug Administration.
Furthermore, in March 2017, Bausch + Lomb, a leading global eye health company, announced through its Canadian affiliate, the availability of BEPREVE 1.5%w/v in Canada, an innovative fast-acting eye drop indicated for the treatment of itch associated with allergic conjunctivitis.
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Key Market Takeaways:
The global allergic conjunctivitis market is expected to exhibit a CAGR of 5.4% during the forecast period due to high prevalence of allergic conjunctivitis, this is expected to drive the global allergic conjunctivitis market over the forecast period. For instance, according to the American Society of Cataract and Refractive Surgery (ASCRS), around 50 million to 60 million people in the U.S. had allergic conjunctivitis in 2015.
Among drug class, Antihistamines & Mast Cell Stabilizers segment is estimated to hold a dominant position in the global allergic conjunctivitis market over forecast period. Key players in the market are focusing on growth strategies such as FDA approvals, which is estimated to drive the segment growth in the market over the forecast period. For instance, in February 2020, Alcon, the global leader in eye care, announced that Pataday Once Daily Relief (olopatadine hydrochloride ophthalmic solution 0.2%) and Pataday Twice Daily Relief (olopatadine hydrochloride ophthalmic solution 0.1%) had been approved by the Food and Drug Administration (FDA) for sale over the counter (OTC) in the U.S.
On the basis of Disease Type, Severe Allergic Conjunctivitis segment is estimated to hold a dominant position in the global allergic conjunctivitis market over forecast period. The treatment of severe allergic conjunctivitis involves the use of strong and advanced prescription pharmaceuticals over a prolonged period of time, which increases the medical expenditure attributed to the treatment of this type of conjunctivitis, thus leading to a higher market share of this segment. For instance, in May 2019, Allakos Inc., a biotechnology company developing AK002 for the treatment of eosinophil and mast cell-related diseases, announced positive Phase 1 results in patients with severe allergic conjunctivitis.
Competitive Landscape:
Key players operating in the global allergic conjunctivitis market are Eton Pharmaceutical, Sun Pharmaceutical Industries Ltd., Novartis AG., Bausch & Lomb Incorporated., Allergan, Ocular Therapeutix, Inc., Eyevance Pharmaceuticals LLC, Alcon, Santen Pharmaceutical Co., Ltd., Auven Therapeutics, and Atopix Therapeutics Ltd.
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Market Segmentation:
- Global Allergic Conjunctivitis Market, By Drug Class :
- Antihistamines & Mast Cell Stabilizers
- Corticosteroids
- Others
- Global Allergic Conjunctivitis Market, By Disease Type :
- Mild Allergic Conjunctivitis
- Severe Allergic Conjunctivitis
- Global Allergic Conjunctivitis Market, By Distribution Channel :
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Global Allergic Conjunctivitis Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Country
- South Africa
- Central Africa
- North Africa
- By Country
- North America
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