Conjunctivitis Treatment Market Research, 2031
The global conjunctivitis treatment market was valued at $4.2 billion in 2021 and is projected to reach $6.1 billion by 2031, growing at a CAGR of 3.8% from 2022 to 2031. Conjunctivitis is an inflammation of the membrane covering the surface of the eyeball. It can be a result of infection or irritation of the eye. A membrane called the conjunctiva covers the surface of the eyeball and the interior of the eyelids. Conjunctival irritation from allergens is possible, especially during the hay fever season. Allergy-related conjunctivitis is highly common. It is an individual body's response to compounds that it perceives as potentially hazardous
Conjunctivitis caused by allergens is more common in those with allergies. According to the Asthma and Allergy Foundation of America, allergies run in families and impact 30% of adults and 40% of children. Common signs of allergic conjunctivitis include red, watery, burning, and itchy eyes. An increase in the patient population of allergic conjunctivitis worldwide and escalating demand for healthcare services is expected to majorly drive the growth of the Conjunctivitis Treatment Market size. In addition, many key market players are focusing on R&D activities to develop drugs for allergic conjunctivitis as the patient population is increasing, which also drives the conjunctivitis treatment market growth. The key factors such as environmental factors, pathogens, and growing exposure to pollutants contribute to the increase in the prevalence of conjunctivitis.
Moreover, an increase in R&D activity for advancements in conjunctivitis treatment, and product approvals contribute to the growth of the Conjunctivitis Treatment Industry. For instance, in October 2021, Ocular Therapeutix, Inc., a biopharmaceutical company focused on the formulation, development, and commercialization of innovative therapies for diseases and conditions of the eye, received the U.S. Food and Drug Administration (FDA) Supplemental New Drug Application (sNDA) approval for its to broaden the DEXTENZA. Thus, the latest product approvals by regulating authorities contribute to the growth of the market.
The growing interest of manufacturers & developers in the development of conjunctivitis treatment and the latest product launch drives the growth of the Conjunctivitis Treatment Market size. 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. In addition, combined manufacturers' efforts for developing footprints in emerging market contributes to the growth of the market.
The conjunctivitis treatment market is segmented into Drug Class, Disease Type, and Distribution Channel.
By disease type segment market is divided into allergic conjunctivitis, bacterial conjunctivitis, and viral conjunctivitis. Allergic conjunctivitis is further divided into seasonal allergic conjunctivitis and perennial allergic conjunctivitis. Depending on drug class is classified into antibiotics, antiviral, anti-allergic, and artificial tears. According to the distribution channel, the market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy.
By region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and the Rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Arabia, South Africa, and LAMEA).
Depending on disease type, the allergic conjunctivitis segment dominated the market in 2021, and this trend is expected to continue during the forecast period, owing to advancements in conjunctivitis treatment and increasing exposures to allergens. However, the viral conjunctivitis segment is expected to witness considerable growth during the forecast period, due to an increase in the prevalence of viral eye infections and the latest product launch in the market.
Based on drug class, the anti-allergic segment dominated the market in 2021, and this trend is expected to continue during the forecast period, owing to the increasing prevalence of allergic conjunctivitis and a rise in exposure to allergens. However, the antiviral segment is expected to witness considerable growth during the forecast period, due to an increase in the prevalence of viral conjunctivitis and a rise in R&D activities for the development of advanced drugs.
By distribution channel, the hospital pharmacy segment dominated the market in 2021, and this trend is expected to continue during the Conjunctivitis Treatment Market forecast period, owing to the rise in the number of hospital pharmacies and an increase in demand for advanced treatment. However, the retail pharmacy segment is expected to witness considerable growth during the forecast period, due to an increase in the number of retail pharmacy stores and a rise in healthcare expenditures.
Depending on the region, North America garnered the major share in the conjunctivitis treatment market in 2021 and is expected to dominate the global Conjunctivitis Treatment Market share during the forecast period owing to the presence of well-established healthcare infrastructure, advancements in conjunctivitis treatment, and presence of key players. However, Asia-Pacific is expected to register significant growth, owing to an increase in product launches in the region, a rise in healthcare expenditures, and the presence of a high population base.
The key players operating in the global conjunctivitis treatment market AbbVie Inc., Ajanta Pharma Limited, AFT pharmaceuticals, Alembic Pharmaceuticals Ltd, Bausch Health Companies Inc, Cipla, Inc., Grevis Pharmaceutical Private Limited, Indoco Remedies Ltd., Jabs Biotech Pvt. Ltd., JAWA Pharmaceuticals Pvt. Ltd, Johnson & Johnson Services Inc., , Novartis AG, Ocular Therapeutics, Inc., Santen Pharmaceuticals Co. Ltd., Spectra Vision Care Pvt. Ltd, Sun Pharmaceuticals Industries Ltd, and Teva Pharmaceutical Industries Ltd.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the conjunctivitis treatment market analysis from 2021 to 2031 to identify the prevailing Conjunctivitis Treatment Market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the conjunctivitis treatment market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global conjunctivitis treatment market trends, key players, market segments, application areas, and market growth strategies.
Conjunctivitis Treatment Market Report Highlights
Market Size By 2031
USD 6.1 billion
CAGR of 3.8%
2021 - 2031
By Drug Class
By Disease Type
By Distribution Channel
Key Market Players
Johnson & Johnson Services Inc, JAWA Pharmaceuticals Pvt. Ltd, Novartis AG, Sun Pharmaceuticals Industries Ltd, Indoco Remedies Ltd., Alembic Pharmaceuticals Ltd, Cipla, Inc., AFT Pharmaceuticals, Santen Pharmaceuticals Co. Ltd., Bausch Health Companies Inc, Ajanta Pharma Limited, Jabs Biotech Pvt. Ltd., Teva Pharmaceutical Industries Ltd, Grevis Pharmaceutical Private Limited, Ocular Therapeutics, Inc, Abbvie Inc, Spectra Vision Care Pvt. Ltd
This section provides opinions of the CXOs of key companies operating in the conjunctivitis treatment market. According to the CXOs, the adoption of new treatments is expected to increase due to rise in prevalence of conjunctivitis. As per the CXOs, conjunctivitis treatment is expected to witness high adoption in the near future, owing to increase in number of R&D activities by the market players across the globe. In addition, the market is exhibiting high growth rate, owing to surge in awareness about conjunctivitis.
By region, North America is expected to remain dominant during the forecast period, due to local presence of large in-house conjunctivitis drug manufacturers like AbbVie, Akon Pharmaceuticals, Alcon Pharmaceuticals, and Bausch + Lomb. Moreover, Asia-Pacific registered highest CAGR and is expected to continue this trend throughout the forecast period, owing to improvement in healthcare facilities, rise in disposable income, increase in adoption of conjunctivitis treatment, and rapid improvement in economic conditions.