Allergic Conjunctivitis Market
Growth Factors of Allergic Conjunctivitis Market
The allergic conjunctivitis market size was valued at USD 3.04 billion in 2023, and the market is now projected to grow from USD 3.20 billion in 2024 to USD 4.96 billion by 2032, exhibiting a CAGR of 5.6% during the forecast period of 2024-2032.
Pandemic negatively impacted allergic conjunctivitis market growth. However, in 2021, the market experienced pre-pandemic increase due to behind schedule remedies and new product launches. In 2022 and 2023, the marketplace additionally experienced pre-pandemic growth rate, and is projected to develop at an extensive CAGR from 2024.
Ocular allergic reactions are a widespread marketplace motive force, affecting over 15% of the global population. These allergies affect multiple frame organs, main to symptoms associated with a couple of systems. The ocular element is the most prominent and disabling function, causing chronic signs like itching and watering of the eyes. The demand for therapeutics like antihistamines and mast mobile stabilizers has expanded appreciably due to the growing affected person population. Research display that the prevalence of this circumstance has significantly elevated over the last 40 years.
The market fashion is transferring from prescription-best therapeutics to Over-The-Counter (OTC) pills, presenting convenience and affordability. This shift has brought about multiplied adoption of these therapeutics. In July 2020, the U.S. FDA approved Alcon's Pataday Once Daily Relief (olopatadine hydrochloride, 0.7%) to transition from prescription-simplest to OTC. This method, monitored with the aid of the FDA, is taken into consideration scientifically rigorous and quite regulated, presenting access to a growing variety of therapeutics for ocular hypersensitive reactions sufferers. These tendencies are predicted to open up a brand-new affected person population for organizations in the marketplace and contribute considerably to the marketplace's surge within the forecast duration.
Comprehensive Analysis of Allergic Conjunctivitis Market
The global marketplace is segmented into antihistamines and mast cell stabilizers, corticosteroids, and others. The antihistamines and mast mobile stabilizers section are expected to broaden at a huge CAGR due to their reputation due to the fact the gold popular remedy. The corticosteroids phase is anticipated to have the second-maximum marketplace percentage in 2023 because of their utilization in excessive ocular allergy cases. The market is divided into moderate and excessive disease sorts, with excessive allergic conjunctivitis keeping the very best marketplace percentage because of immoderate medical expenditure. The marketplace is also break up into health centre pharmacies, drug stores and retail pharmacies, and on-line pharmacies. Hospital pharmacies dominate the market due to thorough examinations via educated medical professionals. Drug stores and retail pharmacies account for the second-highest market in 2020 because of rising call for over-the-counter medicines. Online pharmacies are expected to witness the highest increase rate because of their comfort and ease of procurement.
The North America region lead the allergic conjunctivitis market share by benefitting a market size of USD 1.48 billion in 2023 due to its widespread awareness of ocular allergies, strong prevalence of the disease, and the presence of major players launching advanced drugs.
The marketplace is monopolistic, with key players like Allergan, Bausch and Lomb, and Alcon dominating because of their strong product portfolio. Other corporations like Sun Pharmaceuticals and Alembic Pharmaceuticals are increasing their presence thru specializing in product approvals and preferred drug launches. Emerging players like Ocular Therapeutix and Eton Pharmaceutical are also aiming to advantage regulatory approvals.
Harrow has signed a address Santen Pharmaceutical Co., Ltd. To gather business rights for 6 branded ophthalmic merchandise, increasing its ophthalmic product portfolio.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 5.6% from 2024-2032
Unit Value (USD billion)
Segmentation By Drug Class
- Antihistamines & Mast Cell Stabilizers
- Corticosteroids
- Others
By Disease Type
- Mild Allergic Conjunctivitis
- Severe Allergic Conjunctivitis
By Distribution Channel
- Hospital Pharmacies
- Drug Stores & Retail Pharmacies
- Online Pharmacies
By Region
- North America (By Drug Class, By Disease Type, By Distribution Channel, By Country)
- U.S.
- Canada
- Europe (By Drug Class, By Disease Type, By Distribution Channel, By Country)
- U.K.
- Germany
- France
- Italy
- Spain
- Scandinavia
- Rest of Europe
- Asia Pacific (By Drug Class, By Disease Type, By Distribution Channel, By Country )
- Japan
- China
- India
- Australia
- Southeast Asia
- Rest of Asia Pacific
- Latin America (By Drug Class, By Disease Type, By Distribution Channel, By Country)
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa (By Drug Class, By Disease Type, By Distribution Channel, By Country)
- GCC
- South Africa
- Rest of Middle East & Africa
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