Allergic Conjunctivitis Market Size and Forecast — 2021 - 2028
Eye inflammation caused by an allergic reaction to allergens such as pollen or mold spores, dust mites, and animal fur is known as allergic conjunctivitis. It is the body’s reaction to substances that could be potentially harmful. The eyeball has a membrane known as conjunctiva, which is vulnerable to irritation from allergens. Some of the symptoms of allergic conjunctivitis are red, itchy, watery, and burning eyes. Treatment for allergic conjunctivitis include oral medications, eye drops or immunotherapy.
The Global Allergic Conjunctivitis Market is estimated to be valued at US$ 2,486.7 million in 2021 and is expected to exhibit a CAGR of 5.4% during the forecast period (2021-2028).
Figure 1.Global Allergic Conjunctivitis Market Share (%) in Terms of Value, By Drug Class, 2021
Increasing prevalence and incidence of allergic conjunctivitis expected to drive the market growth during the forecast period.
The increase in incidence and prevalence of allergic conjunctivitis is expected to drive the global allergic conjunctivitis market growth over the forecast period. For instance, according to Clinical Epidemiology and Global Health, in India, the prevalence of allergic conjunctivitis was 12.22% where allergic conjunctivitis was reported in more males (13.44%) as compared to females (10.71%) in 2019.
- Current Industry Events of 2021
- Market Size Estimation
- Regional Breakdown
- Competitive Landscape
- Customer Intelligence
- Segmental Analysis
- Pricing Analysis
- Key Market Drivers, Challenges & Future Trends
- Customized Insights Section
Allergic Conjunctivitis Market Report Coverage
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2020 | Market Size in 2021: | US$ 2,486.7 Mn |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR: | 5.4% | 2028 Value Projection: | US$ 3,592.6 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | Eton Pharmaceutical, Sun Pharmaceutical Industries Ltd., Novartis AG., Bausch & Lomb Incorporated., Allergan, Ocular Therapeutix, Inc., Eyevance Pharmaceuticals LLC, Alcon, Santen Pharmaceutical Co., Ltd., Auven Therapeutics, and Atopix Therapeutics Ltd. | ||
| Growth Drivers: |
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| Restraints & Challenges: |
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Figure 2.Global Allergic Conjunctivitis Market Share (%), By Disease Type, 2021
Key companies focusing on research and development of allergic conjunctivitis are expected to drive the market growth during the forecast period.
Key players operating in the market are focusing on development of treatments for allergic conjunctivitis, this is expected to drive the global allergic conjunctivitis market growth during the forecast period. For instance, in April 2020, Ocular Therapeutix, Inc., a biopharmaceutical company focused on the formulation, development, and commercialization of innovative therapies for diseases and conditions of the eye, announced topline results from its Phase 3 clinical trial to evaluate the safety and efficacy of DEXTENZA for the treatment of ocular itching associated with allergic conjunctivitis (AC).
Global Allergic Conjunctivitis Market– Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus (COVID-19) has resulted in more than 198 million infected individuals worldwide as of August 2, 2021.
COVID-19 can affect the economy in three main ways; by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of drugs from one place to another.
Furthermore, players operating in the global allergic conjunctivitis market are facing major challenges on various fronts due to the COVID-19 pandemic. Major challenges include the supply of raw materials required for manufacturing drug formulations due to irregularities in transportation. Moreover, distributors are experiencing irregular demand for products from the retailers due to an increase in the number of patients suffering from COVID-19 and other life threatening disorders.
Global Allergic Conjunctivitis Market: Restraint
The major factors that hinder growth of the global allergic conjunctivitis market include the lack of awareness of ocular allergies and its adverse reaction towards medication.
Key Players
Major players operating in the global allergic conjunctivitis market are Eton Pharmaceutical, Sun Pharmaceutical Industries Ltd., Novartis AG., Bausch & Lomb Incorporated., Allergan, Ocular Therapeutix, Inc., Eyevance Pharmaceuticals LLC, Alcon, Santen Pharmaceutical Co., Ltd., Auven Therapeutics, and Atopix Therapeutics Ltd.
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Frequently Asked Questions
The global Allergic Conjunctivitis Market size was valued at USD 2,486.7 million in 2021 and is expected to reach USD 3,592.6 million in 2028.
The market size is estimated to be valued at US$ 2,486.7 million in 2021 and is expected to exhibit a CAGR of 5.4% between 2021 and 2028.
Factors such as increasing prevalence and incidence of allergic conjunctivitis, and the focus of key companies towards research and development activities with respect to allergic conjunctivitis treatment is expected to drive the market growth during the forecast period.
Antihistamines & Mast Cell Stabilizers segment is expected to hold a major market share during the forecast period.
The major factors hampering growth of the market include the lack of awareness of ocular allergies and its adverse reaction towards medication.
Major players operating in the market are Eton Pharmaceutical, Sun Pharmaceutical Industries Ltd., Novartis AG., Bausch & Lomb Incorporated., Allergan, Ocular Therapeutix, Inc., Eyevance Pharmaceuticals LLC, Alcon, Santen Pharmaceutical Co., Ltd., Auven Therapeutics, and Atopix Therapeutics Ltd.