Published Date : 18 Jan 2024
The global conjunctivitis market size exceeded USD 4.80 billion in 2022 and is expected to rise to USD 8.08 billion by 2032, poised to grow at a CAGR of 5.40% from 2023 to 2032.
Conjunctivitis is a highly contagious eye infection that can be triggered by exposure to allergens, viruses and bacteria in the atmosphere. It is commonly called as pink eye. It affects the membrane that covers the eyeball and its very delicate membrane of the eye. Generally, this condition can be easily diagnosed by the naked eye and does not need any specific test to confirm.
The market is segmented into the anti-viral, anti-bacterial, and anti-allergic classes of drugs to treat the infection. Among these, the anti-allergic drug segment has generated the highest revenue and influenced the market positively. According to the data, viral and bacterial infections are two major causes of conjunctivitis. Around 80% of all conjunctivitis are caused by viral infection, while 50% to 75% are due to bacterial growth occurring near the eyeball.
According to the data published by the National Centre for Biotechnology Information, conjunctivitis most likely occurs in summer due to the increasing growth of viruses, as conjunctivitis is an infectious disease.it is mainly spread among adults, whereas bacterial infection spreads in children with a frequency of 50% to 70%. Also, spring and summer propel the growth of conjunctivitis among 15 to 20% of the population. That will further grow the market by raising demand for drugs to fight against conjunctivitis.
The increasing number of innovative products for drug delivery in the market attracts more people to avail of the least complicated treatment for conjunctivitis as tissues surrounding the eyes are the most delicate and play a crucial role in vision-related activities connecting it to the brain nerves. Rising awareness of communicable diseases and their possible hazards drives people to use safer products and new advanced drug formulations.
North America has dominated the conjunctivitis market globally. Rising awareness among people from this region, increased rate of conjunctivitis cases and major key players' presence in the region, such as an allergen, NOVARTIS AG, Alcon, etc., cause higher mobility in the market and increase its revenue generation with every consecutive year. The key players dominate the market due to their diverse product launches and updating with time.
Affluent countries like China have large groups of people who are diagnosed with conjunctivitis. Children and adults with less immunity are mostly victims of viral infection and, therefore, of conjunctivitis. Hence, rising incidences of conjunctivitis among wealthy regions are responsible for fuelling market growth globally.
The European region is expected to have a large market for conjunctivitis drugs due to higher expenditures on the medical infrastructure and strong healthcare facilities. Advanced drugs rise in the market for better and faster results, and avoiding any side effects is another reason for the market's growth.
Asia Pacific is again the fastest growing market, and it will further grow in the upcoming years due to the rising population in wealthy countries like China, increasing chances of spreading communicable diseases like conjunctivitis faster. Also, the aged population is growing in the Asian Pacific region because healthcare services provide convenient facilities to people with health concerns, thereby increasing the life span of older adults. According to the Human Development Index Report, life expectancy has risen to 68.7 years roughly. However, it may vary due to environmental factors or genetic mutation.
| Report Coverage | Details |
| Market Revenue in 2023 | USD 5.04 Billion |
| Projected Forecast Revenue by 2032 | USD 8.08 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 5.40% |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Drivers
Expanding medical tourism sector
Increased awareness of the people's best possible medical help can be a more relaxed process as the medical tourism sector has been growing in most regions of the world. People are more drawn to seek medical help from specialists to get faster results and reliable treatment, which will be an impactful reason to expand medical tourism, especially in the most affluent countries of the northern region and Asia Pacific. The cost-effectiveness and lack of awareness of proper hygiene conditions cause an increase in infectious diseases in developing countries. It is estimated that around 12.22% of Indians suffer from allergic diseases. That helps expand the medical tourism sector, which will impact the conjunctivitis market significantly on a global scale.
Innovative product launches to gather larger market share
Pharma companies are developing new products with various options for treating conjunctivitis. Evaluation of new product launches is also done separately to get insights from gathered data and its effectiveness on a large group of people. These factors are increasing the credibility of new launches among patients, guiding them to be more informed and aware of the products and their ingredients, and it will further lead the market to grow exponentially. Companies are more concerned with evaluation and striving to remove any possible impedance in market growth by involving and engaging in research and development activities with cutting-edge technology that can propel the product market rate and demand globally. For instance, companies like sun pharma focus on approvals from the FDA and meet regulatory rules by adopting and launching new generic drug versions. It will help increase their market share globally.
Restraint
Adverse reactions to drugs and lack of awareness of ocular conditions
Ocular conditions are colour blindness, cataracts, dry eye, diabetic retinopathy, including conjunctivitis. Though these need to be treated as early as possible as they're crucial for healthy eyesight, people are lacking better knowledge about eye-related diseases. People only visit for regular eye checkups once they get diagnosed with mild to severe infections. Moreover, mild symptoms like itchiness and swollen eyes are ignored by many people and do not get accurately diagnosed to get proper treatment. People may also get phobia about any adverse reactions to new drugs. In most cases, people do not generally face fatal health conditions due to such adverse reactions rather than just having reactions like burning eyes, itching or headaches.
Opportunity
An increase in global air pollution propels
Global conjunctivitis cases are increasing due to the polluted air because hazardous chemicals are merged into the environment without being processed into a neutral state. Apart from global warming and ozone layer depletion of the earth, bacteria and viruses are also found to survive and multiply in the earth's climatic conditions, leading to an increase in the rate of infectious diseases worldwide. The National Centre for Biotechnology Information published research data that shows the critical causes of spreading conjunctivitis are drastic weather changes and pollutants present in the atmosphere. That is because conjunctiva is sensitive to environmental particles that further increase infectious cell growth in the eyes. Therefore, the increase in global pollution caused by industrial exploitation further promotes conjunctivitis treatment, thereby fuelling the growth of the market globally.
Market Segmentation
By Type
By Patients Type
By Drug Class
Buy this Research Report@ https://www.precedenceresearch.com/checkout/1230
You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 650 460 3308
