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Jun 08, 2021 (Market Stats News via COMTEX) — The conjunctivitis market, in terms of value, is projected to grow at a healthy CAGR of 3.65% from 2021 to 2030. The market was accounted for US$ 4.39 billion in 2020 and is expected to reach a market size of US$ 6.85 Billion by the end of 2030. In this study, 2020 has been considered the base year, and 2021 to 2030 the forecast period for estimating the market size of the market.
The global conjunctivitis market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2021 to 2030. The study analyzes and forecasts the market size, in terms of volume (units) and value (USD million), of the market. The report segments the market and forecasts its size, by volume and value, on the basis of Type, Patients Type Drug Class, and Regional Outlook.
The report discusses the market for conjunctivitis in terms of volume & value. The regions covered in the report are North America, Europe, Asia Pacific and the Rest of the Worlds.
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Conjunctivitis is a contamination of the conjunctiva, a slim membrane layering the white portion of the sclera, eye, or the internal surface of the lids. Conjunctivitis can be very contagious and expand easily within large collections of people. Occasionally, especially in children, the ailment can affect visualization. In such situations, clinicians need to be knowledgeable immediately for effective and primary treatment.
Causes of Conjunctivitis:
- Bacteria
- Virus
- Allergens
- Irritant such as Chemicals
Type of conjunctivitis:
Based on the different agents leading to conjunctivitis, the condition can be classified into the following types.
Bacterial Conjunctivitis:
When the eye's ability to resist bacterial infections is compromised, conjunctival infection occurs. This can happen during serious illnesses or in immunocompromised individuals. Bacteria such as Streptococcus pneumoniae, the Moraxella species, the Hemophilus species, and the Staphylococcus species can lead to infection. Bacterial conjunctivitis can be further classified into the following types.
Report Highlights
- Among the type segment, allergic conjunctivitis dominated the overall market in 2020. High prevalence of allergic conjunctivitis due to high exposure to allergen is the foremost factors attributing to its large market share.
- The adults segment accounted for the major share of revenue in the patient type segment with more than 63% share in 2020 due to high incidence of conjunctivitis in adults. Pediatric segment is anticipated to grow at the uppermost CAGR through the forecast duration.
- Anti-histaminic accounted for the largest revenue in the drug-class segment. Use of anti-histaminic for the management of allergic conjunctivitis is the key reason for high market share. Steroid Drugs segment is expected to grow at the highest growth rate through the estimate duration.
- Allegran, Pfizer Inc, Atopix Therapeutics Ltd. accounted for a significant share of the global conjunctivitis market.
Growth Factors
Factors such as increasing prevalence of conjunctivitis, increasing healthcare expenditure, rising exposure to allergens, highly contagious nature of conjunctivitis are driving the growth of conjunctivitis market. Moreover, Additional features that are expected to fuel this business are integration of latest technologies and growing investment by major players.
Smoking affects the ocular surface, resulting in redness, itchiness, and irritation of the eyes. This can cause atopic keratoconjunctivitis and allergic conjunctivitis due to decreased conjunctival sensitivity. Industrialization, especially the automobile industry, involves high levels of pollutants and chemicals. Exposure to diesel exhausts increases the density of inflammatory cells, such as IL-6 and intercellular adhesion molecule-1, leading to the development of allergic conjunctivitis. This will drive the growth of the conjunctivitis medication market, as more individuals will require treatment.
COVID-19 Impact:
The industrial report mentions the influence of the ongoing COVID-19 pandemic. The outbreak has caused disturbances in several industries and has hammered the logistics, resulting in delayed deliveries and cancellation of product demand. The conjunctivitis report proficiently explains the resulting factors and concerns of manufacturers. Researchers have also well-explained how the producers and providers will tackle the ongoing epidemic and the key strategies to be adopted post-pandemic for turning their businesses back to normal.
Regional Analysis:
The report includes information for Asia Pacific, North America, Latin America, Europe, Middle East, and Africa. In 2020, the North America region dominated the worldwide market with a market share of higher than 43%. The U.S. indicated the highest slice in North America principally due to early application of latest technologies. Moreover, availability of latest healthcare infrastructure also supported the high market portion of North America.
Europe was the subsequent significant market chiefly due to presence of skilled physicians. Presence of major companies in the European region is also expected to lift the demand for conjunctivitis in the anticipated time-span. The Asia Pacific region is projected to grow at the highest CAGR of around 5.35% in the estimate period due to increasing healthcare expenditure. Latin America and Middle East and African region will display noticeable growth.
Key Market Players and Strategies:
The key companies functioning in the worldwide conjunctivitis market are Atopix Therapeutics Ltd., Allegran, Ocular Therapeutix, Inc., Santen Pharmaceutical Co. Ltd., Novartis, Boehringer Ingelheim, Pfizer Inc, Allegran, Sun Pharma, and Sirion Therapeutics, Inc. among others.
Increased expenditure on research and progress along with acquisition, collaborations, and mergers are the significant strategies taken up by producers working in the international conjunctivitis market. Moreover, leading companies are investing heavily on research for the development of new treatment techniques. Strategic associations in terms of authorizing and collaboration, allow businesses to co-develop and commercialize formulation. Companies have been investing in the discovery and R&D of medication for conjunctivitis. For instance, AC-170 by Nicox is in the registration stage, and AGN- 229666 and DEXTENZA (OTX-DP) by Allergan and Ocular Therapeutix, respectively, are in the Phase III stage of development.
Major Market Segments Covered:
By Type
- Bacterial Conjunctivitis
- Viral Conjunctivitis
- Allergic Conjunctivitis
By Patients Type
- Pediatric
- Adults
By Drug Class
- Antibiotics
- Anti-Histaminic
- Decongestant
- Steroid Drugs
- Others
By Geography
- North America
-
-
- U.S.
- Canada
-
- Europe
-
- Germany
- France
- United Kingdom
- Rest of Europe
-
- Asia Pacific
-
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
-
- Latin America
-
- Brazil
- Rest of Latin America
-
- Middle East & Africa (MEA)
-
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
-
Why should you invest in this report?
The company's expert team has been always monitoring the conjunctivitis market for few years, which has assisted them to include actionable insights that can consult the regarded reader with the influence to grow their venture with a high CAGR and gain stellar Return on initial capital investment in the market.
If you are aiming to enter the global conjunctivitis market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for conjunctivitis are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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The post Conjunctivitis Market is Estimated to be US$ 6.85 Billion by 2030 appeared first on Market Stats News.
COMTEX_387978155/2746/2021-06-08T06:46:27
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