Conjunctivitis Treatment Market Share, Size, Trends, Industry Analysis Report, By Drug Class; By Disease Type; By Route of Administration (Topical, Oral); By Formulation Type; By Distribution Channel; By Region; Segment Forecast, 2024 - 2032
- Published Date:Feb-2024
- Pages: 117
- Format: PDF
- Report ID: PM4610
- Base Year: 2023
- Historical Data: 2019 – 2022
Report Outlook
Conjunctivitis treatment market size was valued at USD 4.18 billion in 2023. The market is anticipated to grow from USD 4.32 billion in 2024 to USD 5.83 billion by 2032, exhibiting the CAGR of 3.8% during the forecast period.
Market Overview
An increasing number of patients suffering from eye-related diseases such as conjunctivitis is one of the major factors fueling the expansion of conjunctivitis treatment market. Moreover, the growing awareness related to the eye diseases and increasing inclination of people towards seeking medical treatment for conjunctivitis are expected to boost the market growth during the forecast timeframe.
- In September 2023, Prevent Blindness declared Third Annual Inflammatory Eye Disease (IED) awareness week from September 18 to September 24, 2023. This awareness week offered information on inflammatory eye diseases such as conjunctivitis, keratitis, uveitis, and rheumatoid arthritis.
To Understand More About this Research: Request a Free Sample Report
The growing number of research & development (R&D) activities for the launch of more effective treatment coupled with the advent of technological advancements in the field of ophthalmology treatment are expected to drive the conjunctivitis treatment market expansion in the upcoming years. Moreover, increasing healthcare spending and rising incidence of ocular allergies worldwide will prove beneficial for the market growth during the forecast period.
However, the side effects associated with the use of medications for conjunctivitis is expected to hamper the market growth during the forecast period. Moreover, product recalls and stringent regulatory requirements are also some of the factors limiting the conjunctivitis treatment market expansion. Furthermore, lack of accessible and affordable effective therapy coupled with the expiration of many companies’ patents are expected to impact the demand for conjunctivitis treatment negatively.
Growth Factors
Growing prevalence of conjunctivitis is expected to boost the market growth in the coming years
Conjunctivitis, also known as pink eye, is an inflammation of the conjunctiva caused by allergies or infections. This disease can spread through sharing of clothes, direct contact of hands with eyes, and sharing of eye cosmetics or personal care items. An increasing prevalence of conjunctivitis worldwide is one the major factors contributing to the growth of conjunctivitis treatment market. For instance, as per the news article published by The Economic Times in August 2023, in India, there has been a concerning 10-15% rise in conjunctivitis cases over the past few years. Moreover, a large group of population suffering from ocular allergies will also prove beneficial for the expansion of conjunctivitis treatment market in the upcoming years.
Rising research & development (R&D) activities to improve the treatment drives the market growth
The significant rise in the number of conjunctivitis cases over the past few years has increased the number of R&D activities. The developments in novel drug delivery coupled with the increased focus of companies to find more promising drugs for the treatment of conjunctivitis contribute to the market growth. Moreover, an increasing number of approvals for the drugs and rising introduction of ophthalmic drops for conjunctivitis are expected to provide long-term opportunity for the market expansion. For instance, in December 2023, Lupin Limited made an announcement that its Abbreviated New Drug Application (ANDA) for Loteprednol Etabonate ophthalmic suspension, 0.2 percent, received approval from the United States Food and Drug Administration (U.S. FDA). This drug, which treats allergic conjunctivitis, will strengthen the market growth in the coming years.
Restraining Factors
Side effects related to the conjunctivitis treatment is expected to restrain the market growth
Serious adverse effects of the treatment available for conjunctivitis is expected to hamper the market growth. For instance, patients can experience mild burning, blurred vision, and increased dryness of eyes by the use of topical medications such as eye drops. Moreover, allergic reactions owing to the sensitivity to the active ingredients in the eye drops is also one of the potential side effects of the eye drops. An increasing incidence of side effects associated with the treatment is expected to hamper the market growth in the upcoming years. For instance, according to the data provided by the National Health Service (NHS) UK, the side effects of chloramphenicol (a medication for treating bacterial conjunctivitis) are prevalent and affect more than one in every 100 people.
Report Segmentation
The market is primarily segmented based on drug class, disease type, route of administration, formulation type, distribution channel, and region.
|
By Drug Class |
By Disease Type |
By Route of Administration |
By Formulation Type |
By Distribution Channel |
By Region |
|
|
|
|
|
|
By Drug Class Insights
Anti-allergic segment held the largest market share in 2023
The anti-allergic segment generated the largest market revenue in 2023. This is attributed to the rising incidence of ocular allergies as a result of factors including accelerated industrialization, urbanization, and increase in the number of allergens. Moreover, factors such as the growing burden of allergic conjunctivitis and strategic initiatives adopted by the companies to strengthen their portfolio are expected to contribute to the segmental growth throughout the forecast period.
By Route of Administration Insights
The topical segment generated the largest revenue in conjunctivitis treatment market
The topical segment accounted for the largest market share in 2023. The large share is majorly attributed to the growing adoption and availability of eye drops and ointments across the globe. Moreover, the ability of topical medications to deliver high levels of the drug directly to the site of infection leads to an enhancement in antibiotic action of the drug. Furthermore, the high effectiveness of topical treatment to shorten the duration of disease and prevent the spread of infection also makes it the first-line therapy for most of the cases of conjunctivitis. Thus, an increasing preference to topical treatment owing to its various advantages is expected to fuel the segmental growth during the forecast timeframe.
By Formulation Type Insights
The tablets & capsules segment is expected to register the significant CAGR in the projected years
Based on formulation type, the tablets & capsules segment is anticipated to witness significant growth in the conjunctivitis treatment market. Factors such as the easy consumption and increasing prescriptions of tablets & capsules for the treatment of conjunctivitis is expected to foster the segmental growth in the coming years. Moreover, the small and medium-sized local companies are focusing on the launch of tablets & capsules, which will ultimately strengthen the segmental growth. For instance, in March 2021, Vivimed Labs received approval for Bilastin tablets, which are used for the treatment of allergic rhino conjunctivitis.
By Distribution Channel Insights
The hospital pharmacies segment held a dominant share of the market
The hospitals pharmacies captured the largest market share in 2023. Increasing number of patient visits in hospitals for regular eye checkups and rising incidence of conjunctivitis are some of the primary factors responsible for the segmental growth. Moreover, hospital pharmacies facilitate a collaborative environment between patients and caregivers, which is expected to support the segment’s expansion.
Regional Insights
North America captured the dominant share of the conjunctivitis treatment market
North America emerged as the largest market in 2023. The significant share of this region is owing to the factors such as presence of a large patient pool suffering from conjunctivitis and rising emphasis of industry players on the development and launch of new products for the treatment of this disease. For instance, in July 2023, Harrow announced the completion of the New Drug Application (NDA) transfer process for VIGAMOX (moxifloxacin hydrochloride ophthalmic solution) 0.5%. This process led to the commercial availability of VIGAMOX in the U.S. Furthermore, technological advancements, strong healthcare expenditure, and rising incidence of allergic conjunctivitis in the U.S. will significantly fuel the market growth during the forecast period.
Asia Pacific conjunctivitis treatment market is expected to register the highest CAGR in the projected years
Asia Pacific is anticipated to expand at the highest CAGR during the forecast timeframe. Growing awareness related to the diagnosis and treatment of eye diseases coupled with the increasing cases of viral conjunctivitis caused by adenovirus are expected to drive the market growth in this region. Moreover, the highly populous countries such as India and China are expected to become significant contributor to the market revenue as most of the companies are undertaking various strategies to focus on these countries. For instance, in April 2023, NicOx SA declared that Ocumension Therapeutics, its exclusive Chinese partner, has filed a new drug application seeking permission to commercialize Zerviate (cetirizine ophthalmic solution) 0.24%, in China. This solution is used for the treatment of ocular itching linked with allergic conjunctivitis.
Key Market Players & Competitive Insights
The companies with strong product portfolio are expected to drive the competition
In terms of competition, the market is moderately consolidated. The key companies such as Abbvie Inc, Novartis, Bausch Health Companies Inc., and Harrow generated the significant market revenue in 2023. The significant share of this companies is owing to the presence of strong product portfolio and high popularity of the companies’ products among healthcare professionals. Moreover, the emergence of other local players is expected to increase the competition in the upcoming years.
Some of the major players operating in the global market include:
- Abbvie Inc (U.S.)
- AFT Pharmaceuticals (New Zealand)
- Alembic Pharmaceuticals (India)
- Bausch Health Companies Inc. (Canada)
- Harrow (U.S.)
- NicOx SA (France)
- Novartis (Switzerland)
- Pfizer Inc. (U.S.)
- Spectra Vision Care (India)
- Sun Pharmaceutical Industries Limited (India)
- Teva Pharmaceutical Industries (Israel)
Recent Developments in the Industry
- In November 2023, AbbVie Inc. and Aldeyra Therapeutics, Inc. signed an exclusive option agreement. As per this agreement, AbbVie has the option to acquire a co-exclusive license to develop, manufacture, and commercialize reproxalap in the U.S.
- In July 2023, Harrow signed an agreement with Santen Pharmaceutical Co., Ltd. to acquire several U.S. and Canadian commercial rights for the branded products including ZERVIATE which is used for treatment of ocular itching associated with allergic conjunctivitis.
Report Coverage
The conjunctivitis treatment market report emphasizes on key regions across the globe to provide better understanding of the product to the users. Also, the report provides market insights into recent developments, trends and analyzes the technologies that are gaining traction around the globe. Furthermore, the report covers in-depth qualitative analysis pertaining to various paradigm shifts associated with the transformation of these solutions.
The report provides detailed analysis of the market while focusing on various key aspects such as competitive analysis, drug class, disease type, route of administration, formulation type, and distribution channel, and their futuristic growth opportunities.
Conjunctivitis Treatment Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2024 |
USD 4.32 billion |
|
Revenue forecast in 2032 |
USD 5.83 billion |
|
CAGR |
3.8% from 2024 – 2032 |
|
Base year |
2023 |
|
Historical data |
2019 – 2022 |
|
Forecast period |
2024 – 2032 |
|
Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
|
Segments covered |
|
|
Regional scope |
|
|
Competitive Landscape |
|
|
Report Format |
|
|
Customization |
Report customization as per your requirements with respect to countries, region and segmentation. |
FAQ's
The global conjunctivitis treatment market size is expected to reach USD 5.83 billion by 2032
Key players in the market are Abbvie Inc, Novartis, Bausch Health Companies Inc., Harrow, NicOx SA, Alembic Pharmaceuticals
North America contribute notably towards the global Conjunctivitis Treatment Market
Conjunctivitis treatment market exhibiting the CAGR of 3.8% during the forecast period.
The Conjunctivitis Treatment Market report covering key segments are drug class, disease type, route of administration, formulation type, distribution channel, and region.
