PUBLISHER: The Business Research Company | PRODUCT CODE: 1425217
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425217
Allergy Conjunctivitis Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on allergy conjunctivitis market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for allergy conjunctivitis? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The allergy conjunctivitis market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.
Allergic conjunctivitis is the inflammation of the conjunctiva, the membrane covering the inside of eyelids and the white part of the eyeball. This inflammation is triggered by an allergic reaction to substances like pollen or mold spores. Symptoms of allergic conjunctivitis include red, itchy, and watery eyes.
The main drug classes used for treating allergic conjunctivitis are antihistamines and mast cell stabilizers, corticosteroids, and others. Antihistamines and mast cell stabilizers are medications, available either by prescription or over-the-counter, that work to inhibit the physiological action of histamines. The severity of the disease can range from mild to severe, and medications for conjunctivitis are distributed through various channels, including hospital pharmacies, drug stores, retail pharmacies, and online pharmacies.
The allergy conjunctivitis market research report is one of a series of new reports from The Business Research Company that provides allergy conjunctivitis market statistics, including allergy conjunctivitis industry global market size, regional shares, competitors with allergy conjunctivitis market share, detailed allergy conjunctivitis market segments, market trends, and opportunities, and any further data you may need to thrive in the allergy conjunctivitis industry. This allergy conjunctivitis market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The allergy conjunctivitis market size has grown strongly in recent years. It will grow from $2.4 billion in 2023 to $2.54 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth observed in the historical period can be attributed to various factors, including the increasing incidence of allergic conditions, advancements in research and development, changes in lifestyles and environmental factors, the expansion of patient awareness, and collaborations and partnerships within the healthcare industry. Additionally, the development of healthcare infrastructure has played a role in facilitating the management and treatment of allergic conjunctivitis during that timeframe.
The allergy conjunctivitis market size is expected to see strong growth in the next few years. It will grow to $3.2 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing global burden of allergies, the adoption of personalized medicine approaches, the growing geriatric population, innovations in biotechnology, the expansion of healthcare access in developing regions, and regulatory support and approvals. Major trends expected in the forecast period include the integration of novel drug delivery technologies, a focus on patient education and awareness, the development of combination therapies, the incorporation of artificial intelligence (AI) in diagnosis, and an increase in environmental allergen management solutions.
The escalating exposure to air pollutants and harmful chemicals is projected to drive the expansion of the allergy conjunctivitis market. Human eyes, being highly sensitive, face constant risks due to continuous exposure to toxins in air pollution. Prolonged exposure to airborne pollutants and chemicals leads to various eye problems, including allergic conjunctivitis, characterized by symptoms like burning, itching, redness, watering, and blurred vision, necessitating effective treatments. For instance, the United States Environmental Protection Agency (EPA) reported that approximately 67 million tons of pollutants were released into the atmosphere in the United States in 2021. This growing exposure to air pollutants and chemicals is a significant factor fueling the rise of the allergy conjunctivitis market.
The prevalence of eye disorders is another key driver propelling the growth of the allergy conjunctivitis market. Eye disorders encompass various conditions affecting eye structure or function, resulting in impaired vision or related symptoms. Allergic conjunctivitis stands as a substantial contributor to these eye disorders, particularly when triggered by allergic reactions to environmental elements like pollen, dust, or pet dander. The surge in environmental pollutants and chemicals has led to an uptick in cases of allergic conjunctivitis. Globally, over 2.2 billion people are affected by near or distance vision impairment, with various conditions like cataracts, refractive errors, age-related macular degeneration, glaucoma, and diabetic retinopathy, as per the World Health Organization's report. This prevalence of eye disorders contributes significantly to the growth of the allergy conjunctivitis market.
Product innovation emerges as a pivotal trend driving the allergy conjunctivitis market. Key companies in this sector are intensifying their focus on developing innovative and advanced products to bolster their market presence. For instance, Allergan, an Irish-US-based medical company, introduced LASTACAFT, an eye allergy drop in March 2022. This brand of eye drops delivers relief from itchiness and allergies within three minutes and offers sustained relief for up to 16 hours. LASTACAFT, an antihistamine eye drop, targets histamines triggering ocular itching, effectively calming allergic responses caused by pollen, ragweed, grass, animal hair, and dander in individuals aged two and above. The launch of such innovative solutions expands the company's retail eye drop portfolio, ensuring quality eye care products for consumers.
Major companies in the allergy conjunctivitis market are actively pursuing strategic partnerships to fortify their market presence. These business collaborations involve structured affiliations between two or more enterprises, typically established through formal business agreements or contracts. For instance, in May 2022, AffaMed Therapeutics, a China-based biopharmaceutical company, entered into a partnership with Primal Chemical. This collaboration aims to enhance AffaMed's capabilities, enabling healthcare institutions and practitioners to offer patients more treatment options, including IOLs and DEXTENZA, specifically for patients in Hong Kong and Macau. Primal Chemical, based in Hong Kong, specializes in chemical solutions.
In July 2023, Harrow Health, a prominent U.S.-based company focused on the ophthalmic healthcare market, made an acquisition of the branded ophthalmic portfolio from Santen Holdings U.S. Inc. This strategic acquisition empowers Harrow Health to solidify its position as a leading player among top-tier U.S. ophthalmic pharmaceutical companies. The addition of Santen's branded portfolio significantly enriches Harrow Health's offerings, establishing it as one of the most comprehensive portfolios available in the U.S. market. Santen Holdings U.S. Inc. operates as a U.S.-based provider of ophthalmology solutions and is dedicated to human eye health.
Major companies operating in the allergy conjunctivitis market report are Allergan PLC, AbbVie Inc., Ajanta Pharma Limited, Akron Operating Company LLC, Alcon Inc., Alembic Pharmaceuticals Ltd., Atopix Therapeutics Ltd., Auven Therapeutics Management LLLP, Bausch & Lomb, Cipla Ltd., Grevis Pharmaceutical Private Limited, Indoco Remedies Ltd., Jabs Biotech Pvt. Ltd., JAWA Pharmaceuticals Pvt. Ltd., Novartis AG, Ocular Therapeutix Inc., Santen Pharmaceutical Co. Ltd., Sun Pharmaceutical Industries Ltd., Laboratoires Thea SAS, Aciex Therapeutics Inc., Bausch Health Companies Inc., C.H. Boehringer Sohn AG & Co. KG, Eyevance Pharmaceuticals LLC, Johnson & Johnson Services Inc., Mylan N.V., Nicox S.A., Omeros Corporation, Otsuka Pharmaceutical Co. Ltd., Pfizer Inc., Regeneron Pharmaceuticals Inc., Shire PLC, Teva Pharmaceutical Industries Ltd., Zydus Cadila
North America was the largest region in the allergy conjunctivitis market share in 2023. The regions covered in the allergy conjunctivitis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the allergy conjunctivitis market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The allergy conjunctivitis market consists of sales of therapeutics that are used to treat inflammation of eyes caused due to allergens. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.