Eye Allergy Treatment Market Research Report Information By Type (Seasonal and Perennial Allergic Conjunctivitis, Vernal Keratoconjunctivitis, Atopic Keratoconjunctivitis, Contact Allergic Conjunctivitis, Giant Papillary Conjunctivitis), By Drug Class (Antihistamine, Mast Cell Stabilizer, NASAIDs, Corticosteroid, Decongestants, Immunotherapy Allergy Shots, Others), By Treatment Form (Eyedrops, Injectables, Tablets & Capsules), By Distribution Channel (Hospital Pharmacies, Online Pharmacies and Retail Pharmacies) And By Region Industry Forecast to 2032
In 2023, the eye allergy treatment market was estimated to be worth USD 3.35 billion. According to projections, the industry is expected to increase at a compound annual growth rate (CAGR) of 6.23% from USD 3.55 billion in 2024 to USD 5.62 billion by 2032. The market is growing as a result of the growing geriatric population, an increase in the prevalence of eye allergies, and a surge in drug launches to keep up with demand.
The global market for allergy treatments for eyes is expanding due to the rising incidence of ocular allergies. For example, in February 2020, the US subsidiary of Novartis AG, Alcon, disclosed that around 66 million Americans were allergic to one or more eyelids. Furthermore, the market for eye allergy treatments is expanding due to the growing geriatric population. Senior Home Plus (UK) reports, for example, that eye allergies in the elderly are brought on by weaker immune systems, long-term medical disorders, decreased tear production, and certain adverse drug reactions. market with room to grow significantly. For example, the population over 65 is expanding faster than the population under 65, according to the World Population Prospects 2022. Furthermore, projections indicate that the percentage of the world's population 65 years of age and older will increase from 10% in 2022 to 16% by 2050. In addition, the growing elderly population in Asia-Pacific will present profitable expansion prospects in the years to come. According to the Asia-Pacific Report on Population Ageing 2022, 670 million or so persons in Asia-Pacific were 60 years of age or older in 2022. Thus, the global market is expanding due to the rising incidence of ocular allergies and the growing geriatric population.
Insights on market segmentsThe market for eye allergy treatments has been divided into categories such as large papillary conjunctivitis, atopic keratoconjunctivitis, vernal keratoconjunctivitis, seasonal and perennial allergic conjunctivitis, and contact allergic conjunctivitis.
The Eye Allergy Treatment Market is divided into submarkets based on drug class, including immunotherapy allergy injections, mast cell stabilizers, NSAIDS, corticosteroids, decongestants, and antihistamines.
The eyedrops, injectables, and tablets & capsules segments of the eye allergy treatment market are based on the type of treatment used.
Hospital pharmacies, online pharmacies, and retail pharmacies make up the segments of the eye allergy treatment market based on the distribution channel.
Localized PerspectivesThe market for eye allergy treatments has been divided into four regions based on geographic location: North America, Europe, Asia-Pacific, and the Rest of the World. North America held the greatest market share in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 4.29% to reach USD 1.94 billion by 2032. Nevertheless, throughout the course of the projection period, Asia-Pacific is expected to develop at the highest CAGR of 7.11%.
Europe has the second-largest market share for eye allergy treatments after the Americas. This can be attributed to a number of factors, including an increase in the number of patients with eye disorders, the availability of cutting-edge treatment facilities, rising healthcare costs, and the introduction of cutting-edge therapies into the market combined with a strong infrastructure for healthcare. Rising government initiatives are also propelling the market's expansion. Furthermore, the market for eye allergy treatments is expanding due to the growing geriatric population.
In terms of eye allergy treatment, the market with the quickest rate of growth is Asia-Pacific. The Asia-Pacific market for eye allergy treatments is expanding due to a large patient base, quick technological advancements, and abundant business development prospects. The demand for eye allergy treatments in this area is also being driven by the growing senior population.
Principal PlayersKey participants in the eye allergy treatment market include Novartis AG, Bausch + Lomb, Santen Pharmaceutical Co., Ltd., Alcon, Bayer AG, Johnson & Johnson Services, Inc., Abbvie Inc., Sun Pharmaceutical Industries ltd., Teva Pharmaceutical Industries Ltd, and Hal Allergy B.V.