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Allergic Conjunctivitis Market Expected to Reach $3 Billion by 2031—Allied Market Research

 
2022
Allergic Conjunctivitis Market

Report Code : A17093

quote The growth of the global allergic conjunctivitis market is attributed to increase in number of patient population, surge in R&D activities and rise in exposure to pollutants and chemicals. Furthermore, upsurge in awareness about allergic conjunctivitis is expected to further drive the market growth during the forecast period. quote

Onkar Sumant - Manager
Life Sciences at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Allergic Conjunctivitis Market," The allergic conjunctivitis market was valued at $1.9 billion in 2021, and is estimated to reach $3 billion by 2031, growing at a CAGR of 4.3% from 2022 to 2031.

The term "allergic conjunctivitis" refers to a common type of allergic eye condition in which the conjunctiva of the eye becomes inflamed as a result of an allergic reaction. A sizable population is affected by this disease, yet both patients and medical staff frequently overlook it or fail to properly diagnose it. When an allergen comes into touch with the eyes of allergic people are affected by allergic conjunctivitis. Histamine is released in response to the allergen. Typically, this causes the conjunctivae to itch, get red, burn, or tear. These are the delicate membranes that cover the exposed area of the eyes and the eyelids. 
Allergic conjunctivitis can be seasonal or perennial. The seasonal type is far more prevalent. It has to do with coming into contact with allergens in the air, including mold or pollen from grass, trees, and weeds. The perennial type lasts all year and is typically brought on by molds, animal dander, or dusts.
The rise in the number of patients is one of the main drivers of the allergic conjunctivitis market's expansion. Morever, allergic conjunctivitis market trends are anticipated to fuel growth in the forecast period is that several major market players are concentrating on R&D operations to create new medications for the treatment of ocular allergies to fulfill the demand of the growing patient pool. The use of contaminated makeup and lotions, rubbing the eyes with dirty hands, and other poor hygiene habits contribute to ocular allergies, which are expected for the allergic conjunctivitis market growth. The increase in the prevalence of STDs typically fuels market expansion. Chlamydia and gonorrhea, the two STIs that are most common, can both cause conjunctivitis. 
The lack of awareness about ocular allergies is anticipated to impede market expansion, notwithstanding challenging reimbursements conditions. In contrast, the rapid increase in urbanization that causes increased exposure to chemicals and pollutants in both developed and emerging countries is anticipated to offer enormous investment opportunities in allergic conjunctivitis industry.
By drug class, the market is segmented into antihistamines & mast cell stabilizers, corticosteroids, and others. The antihistamines & mast cell stabilizers segment dominated the allergic conjunctivitis market size in 2021, accounting $1171.22million and also expected to witness highest CAGR of 4.81% during the forecast period, owing to new product launches by various key market players. 
Depending on disease type, the market is divided into seasonal allergic conjunctivitis (SAC) and perennial allergic conjunctivitis (PAC) The seasonal allergic conjunctivitis (SAC) segment dominated the market in 2021, with $1264.98million and is also expected to witness highest CAGR of4.66% during the forecast period, owing to prevalence of incidence of seasonal allergic conjunctivitis.
Depending on distribution channel, the market is divided into hospital pharmacies, drug store & retail pharmacies and online providers. The drug stores & retail pharmacies segment dominated the market in 2021, with $1174.69million owing to its presence in commercial areas of the community. The online providers segment is expected to witness highest CAGR of 3.85%during the forecast period, owing to popular medium for purchase of medicines
North America accounted for a majority of the global allergic conjunctivitis market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to technological advancements in allergic conjunctivitis techniques, R & D of advanced drugs for allergic conjunctivitis, presence of key and robust hospital infrastructure in the region. However, Asia-Pacific is anticipated to witness notable growth, owing to rise in patient population, development of healthcare infrastructure and increase in investments projects in the region.
  Key findings of the study
•    By drug class, the antihistamines & mast cell stabilizers segment was the highest contributor to the market in 2021.
•    By disease type, the seasonal allergic conjunctivitis segment was the highest contributor to the market in 2021.
•    Depending on distribution channel, the drug store & retail pharmacies segment was highest contributor in 2021, and is expected to continue this trend during the forecast period.
•    Region wise, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

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quote Allergic Conjunctivitis Market by Drug Class (Antihistamines & Mast Cell Stabilizers, Corticosteroids, Others), by Disease Type (Seasonal Allergic Conjunctivitis (SAC), Perennial Allergic Conjunctivitis (PAC)), by Distribution Channel (Hospital Pharmacies, Drug stores & Retail Pharmacies, Online providers): Global Opportunity Analysis and Industry Forecast, 2021-2031 quote

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