The global conjunctivitis treatment market size was valued at USD 3.85 billion in 2019 and is projected to reach USD 4.38 billion by 2027, exhibiting a CAGR of 3.7% during the forecast period.
Conjunctiva is a transparent tissue layer that lines the inner surface of the eyelid. When this tissue gets infected, it tends to cover the white part of the eye and becomes red or pink. Hence, conjunctivitis eye-oriented disease is also known as pink eye. This ophthalmic disease tends to cause inflammation of the eye which is called conjunctivitis. This can be categorized into infectious and non-infectious causes. The infectious cause includes bacterial and viral, whereas the non-infectious cause includes allergic and inflammation of the immune-mediated disease. Depending on the clinical severity of the disease, it is divided into acute conjunctivitis, hyper acute, and chronic which helps medical professionals in making faster decisions of treatment.
As various eye-related diseases have similar clinical appearance, it is very important to differentiate conjunctivitis from other such diseases. Therefore, clinical examinations and procedures are conducted to identify the disease that helps medical professionals in making further decisions related to medication, testing, and recovery which is set to upscale the market growth during the forecast period. For instance, various algorithm approaches along with the ocular history and penlight examination, comprehensive eye examination, are used to make the diagnosis of various types of conjunctivitis.
Impact of COVID-19: Lack of Visits to Healthcare Institutions for Conjunctivitis Prescriptions to Limit Growth
A sudden outbreak of the COVID -19 pandemic across the globe is also propelled and also limited the market growth of some healthcare markets. In terms of conjunctivitis, the patients are prone to be at high risk of being infected by viral conjunctiva, generally caused due to a virus known as adenovirus. This, in turn, is triggering COVID-19 to cause various ocular signs and symptoms which include irritation, photophobia, watery discharge, eye infection, and others that require supportive care. However, it is likely to propel the conjunctivitis treatment market growth during the forecast period only up to a limited extent.
Furthermore, the outbreak of the COVID-19 pandemic across the globe is also projected to negatively impact the growth of the market during the forecast period. Due to the cancellation or postponement of medical consultations that are not life-threatening or essential, the prescription of conjunctivitis therapeutics is being restricted. This, in turn, has negatively impact the growth rate of the market during the COVID-19 pandemic.
Increasing Advanced Drug Delivery Techniques of Conjunctivitis is a Prominent Trend
Rapid technological advancements in the field of ophthalmology treatment is expected to help the market in experiencing potential growth in the near future. The new and advanced techniques of drug delivery have triggered the market by providing more efficient treatment for faster recovery of the diseases. Furthermore, the increasing number of patients suffering from eye-related diseases has boosted the revolutionary research approach that deals with various strategies and methods used for delivering the desired therapeutic effect of the drug.
- For instance, an ideal ocular drug delivery system helps in the non-invasive self-administration procedures and delivers appropriate drug concentration at an appropriate time interval. Hence, it provides patient satisfaction, compliance, and tolerance which are also set to boost the market growth in the upcoming years.
Moreover, research and development activities related to the nano-formulation of ophthalmic drugs to increase drug bioavailability are also augmenting the market growth. Nano-formulation drugs have significantly shown positive results in the treatment of ocular disease. Thus, such drug delivery will be having a propensity to bring the paradigm shift in ocular disease management. This, in turn, will positively influence this market growth during the forecast period.
Rising Prevalence of Conjunctivitis to Augment Market Growth
Conjunctivitis is considered to be a communicable disease as it can spread easily by direct contact of hands, coughing, sneezing, and others. This, in turn, is set to increase the incidence of conjunctivitis across the globe. Furthermore, conjunctivitis is divided into bacterial, viral, and allergic. Each of these has an increased prevalence owing to various factors which include unhealthy lifestyle, a rise in the number of infections, and others that are projecting the growth of the market.
According to the National Centre for Biotechnology Information, it is noted that conjunctivitis varies according to the patient’s age and season of the year. For instance, viral conjunctivitis is the most common cause of conjunctivitis in summer which infects the adult population and is prevalent in summer. Whereas, bacteria are also considered to be the second most common cause of conjunctivitis that is mostly found in 50%-70% of children and frequently observed in the month of December to April. Allergic conjunctivitis affects 15%-40% of the population and frequently occurs in spring and summer.
Moreover, the increasing launch of advanced drug delivery systems and new drug formulations for faster recovery of the patients, rising awareness about eye-related diseases, ocular disorder management, and others are anticipated to strongly influence the market growth during the forecast period.
Increasing R&D Activities to Improve Conjunctivitis Treatment Will Accelerate Market Growth
An increase in the prevalence of conjunctivitis worldwide is driving the number of R&D activities. Thus, research related to the treatment of conjunctivitis has evolved in recent years. This, in turn, is prompting the manufacturers to increase their R&D activities resulting in a rush to launch new products for the advanced treatment of conjunctivitis. Moreover, these advances in new drug delivery obtained through various researches have resulted in the identification of more potential targets for new drug launches over the years. For instance, modernization in the treatment of allergic conjunctivitis has set a new prospect in ophthalmology healthcare. This innovation is associated with the development of topical mast cell stabilizers by Santen Pharmaceutical Co., Ltd. are used for the treatment of allergic conjunctivitis for the prevention of ocular itching.
Additionally, the launch of new dual-action or multiple action drugs is also set to aid towards the market growth during the forecast period. For instance, a drug named Alocril by Allergan is considered to be the first ocular allergic drug indicated to have three multiple actions or more which include stabilizing and preventing the actions associated with eosinophils and neutrophils. It prevents secretion of the inflammatory mediators by other surface cells.
High Adverse Effects of Drugs and Patent Expiration to Restrain Market Growth
The market is anticipated to experience vast growth in the upcoming years owing to rapid technological advancements in drug delivery, increased R&D activities by the key players to launch new products, rising prevalence of pink eye, and others. Despite these, there are some factors that are hampering the growth of the market such as the adverse effect of the drugs, patent expiration, product recall, and more. For instance, major key players of the market such as Alcon lost its patent of the drug named Pataday and Patanol in December 2015 which was the major revenue contributor. Thus, the loss of patent exclusivities is triggering the launch of generic drugs which is also anticipated to impede the market growth during the forecast period.
Additionally, stringent FDA approvals, product recall, and others are set to restrict the market growth. For instance, in July 2019, the FDA declined the approval of a product named EM-100 by Eton Pharmaceuticals for the treatment of conjunctivitis.
Anti-allergic Segment to Grow at Faster Pace during 2020-2027
Based on drug class, the market is segmented into antibiotics, antiviral, anti-allergic, artificial tears, and others. The anti-allergic segment contributed to the highest revenue generation during 2019 which has also positively influenced the market growth. These drugs are widely used by patients suffering from allergic conjunctivitis which is further triggering the market growth. Moreover, the segment is considered to register the highest CAGR during the forecast period owing to an increased usage of these drugs in the treatment of allergic conjunctivitis as they help in the faster recovery of the disease, especially due to the launches of new and sophisticated products.
Antiviral is considered to be most common in conjunctivitis. These drugs are used for the treatment of viral infections that occur due to the contact of a contaminated surface or through an infected person. It may influence the growth opportunities of market revenue in the near future.
Furthermore, the antibiotics and artificial tears segments would also influence the market growth. These are widely used in the viral and bacterial conjunctivitis treatment to reduce the infections and help in decreasing the discomfort generated due to conjunctivitis. The others segment includes non-steroidal anti-inflammatory drugs, and other drugs which are used in severe cases of conjunctivitis. They would also fuel the market growth during the forecast period.
By Disease Type Analysis
Allergic Conjunctivitis Dominated the Global Market in the Forecast Period
In terms of disease type, the market is segmented into bacterial, viral, and allergic. The allergic conjunctivitis segment is dominating the market due to a rise in the prevalence of such infections. The segment is expected to witness growth in the forecast period due to the increasing product launches for the treatment of allergic conjunctivitis. It generally occurs in people suffering from seasonal allergies and according to the National Centre for Biotechnology Information, in the U.S., 40% of the population is prone to be infected by allergic conjunctivitis.
Furthermore, the viral conjunctivitis segment is expected to register a lower growth in the forecast period. It is mainly caused due to the contagious viruses related to a common cold that can spread through the body’s own mucous membrane. This, in turn, infects lungs, throat, nose, tear ducts, and conjunctiva which are influencing the market. Due to the greater usage of generic antibiotics for the treatment of bacterial conjunctivitis, the market is expected to undergo a decline. This is expected to limit the growth of bacterial conjunctivitis during the forecast period.
Route of Administration
Topical Segment is Anticipated to Lead the Global Market
In terms of route of administration, the market is segmented into topical and oral. Among these, the topical segment holds the largest Conjunctivitis Treatment market share owing to an increase in the adoption and availability of topical drugs for conjunctivitis treatment globally. This dominance is primarily owing to the introduction of new formulation drugs that can be applied easily without the risk of invasive procedures to obtain effective treatment. Furthermore, the oral segment is anticipated to register a relatively higher CAGR during the forecast period due to the increased usage of such drugs which are easy for consumption as compared to the others. Also, the increasing oral drug prescription by medical professionals would bolster growth of this segment.
By Distribution Channel Analysis
Hospital Pharmacies Segment to Lead Backed by Rising Visits to Hospitals for Eye Checkup
Based on distribution channel, the market is classified into retail pharmacies & drug stores, online pharmacies, and hospital pharmacies. The hospital pharmacies segment is anticipated to dominate the market in the near future due to an increase in the patient visits to hospitals for regular eye checkup, and others. Furthermore, the online pharmacies segment is also anticipated to emerge as the fastest-growing segment in the market. An increase in the patient’s preference towards the convenience of drugs, easy availability, and others are likely to augment the growth of this segment during the forecast period. Additionally, the retail pharmacies and drug stores segment are expected to hold the lowest market share.
The conjunctivitis treatment market in North America accounted for USD 1.85 billion revenue in 2019 and is anticipated to dominate the market globally. This would occur due to a rise in the prevalence of conjunctivitis, increased presence of major key players in the region, rising awareness among people, and others. The market in Europe is considered to be the second largest followed by North America during the forecast period. Owing to an increase in the prevalence of conjunctivitis patients, a rise in the adoption of advanced drugs for better outcomes, and strong healthcare expenditure, this region is expected to show a consistent positive growth in the forecast period.
Moreover, Asia Pacific is expected to experience the fastest market growth. Due to a rise in the geriatric patients, increasing development of healthcare facilities, surging number of R&D activities, and others, the region is expected to showcase a strong growth. Also, Latin America and the Middle East & Africa are anticipated to experience lower growth owing to the unmet needs of healthcare, low prevalence of conjunctivitis in the region, low awareness associated with healthcare facilities, and others.
KEY INDUSTRY PLAYERS
Diverse Product Portfolio by Allergan, and Alcon to Upscale Market Growth
The key player dominating this market of conjunctivitis treatment is Allergan due to its diverse product portfolio and strong presence in the field of conjunctivitis treatment globally. Additionally, in terms of revenue, Allergan is leading the market. Owing to its revenue generating products such as LASTACAFT and others which are indicated for the treatment of conjunctivitis, Allergan is anticipated to dominate the competitive scene. Furthermore, various other key players such as Alcon, NOVARTIS AG, and more are also expected to experience significant upscale across the globe during the forecast period because of their products such as PATADAY and Zerviate which are majorly indicated to treat conjunctivitis patients.
LIST OF KEY COMPANIES PROFILED:
- Akorn, Inc.
- Eyevance Pharmaceuticals LLC.
- NOVARTIS AG
- Santen Pharmaceutical Co., Ltd
- Bausch & Lomb Incorporated
KEY INDUSTRY DEVELOPMENTS:
- June 2021– Santen Pharmaceutical Co., Ltd., announced the U.S. FDA approval of Verkazia for the treatment of vernal keratoconjunctivitis in children and adults with an aim to widen its product line.
- February 2021– Eyevance Pharmaceuticals, a subsidiary of Santen Pharmaceutical Co., Ltd., entered into strategic partnership with Hikma Pharmaceuticals PLC, for the co-promotion of ZERVIATE in the U.S. market that is used to treat ocular itching associated with allergic conjunctivitis.
- February 2021– Eyevance Pharmaceuticals LLC, announced the next day delivery of Natacyn through specialty pharmacy NatacynRARX, with a view to gain competitive advantage over other players. This medication is used for the treatment of fungal blepharitis, conjunctivitis, and keratitis.
- February 2021– Alcon Inc., announced the retail and online availability of Pataday in the U.S. market that is used to provide long lasting eye allergy itch relief to the patients suffering from allergic conjunctivitis. This initiative helped the company to maintain its brand position in the conjunctivitis treatment market.
The conjunctivitis treatment market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, drug class, disease type, route of administration, and distribution channel. Besides this, the report provides key insights into the market trends and highlights the major global industry developments such as new product launches, prevalence of conjunctivitis, pipeline analysis, mergers, acquisitions, and collaborations. In addition to this, the report also focuses on the major driving factors and restraints that are influencing the market growth over the course of the period.
REPORT SCOPE & SEGMENTATION
|Unit||Value (USD billion)|
|Segmentation||By Drug Class|
|By Disease Type|
|By Route of Administration|
|By Distribution Channel|