Global Eye Inflammation Treatment Market, by Drug Class (Monoclonal Antibodies, Antibiotics, Corticosteroids, Antivirals, Antifungal, Others (Analgesics, etc.)), by Dosage Form (Eye Drops, Tablets, Capsules, Others (Ophthalmic Ointments, etc.)), by Distribution Channels, (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 564.4 Million in 2022 and is expected to exhibit a CAGR of 5.8% during the forecast period (2022-2030).
Key market players are getting approvals by regulatory bodies for their product, used for the treatment of eye disease is expected to drive the global eye inflammation treatment market, over the forecast period. For instance, on October 06, 2022, Santen Canada Inc., a subsidiary of Santen Pharmaceutical Co., Ltd., announced the approval of Cationorm Plus by Health Canada, a government department. Cationorm Plus is a synthetic tear that renovates moisture in the eye to provide long-lasting relief for dry eye and ocular allergy symptoms.
High incidence of rheumatoid arthritis is also expected to aid in growth of the global eye inflammation treatment market, over the forecast period. For instance, according to the study, “Global, regional and national burden of rheumatoid arthritis 1990-2017: a systematic analysis of the Global Burden of Disease study 2017”, published in the journal Annals of the Rheumatic Diseases, in November 2019, the age-standardized point prevalence and annual incidence rates of rheumatoid arthritis were 246.6 and 14.9 in 2017, which increased by 7.4% and 8.2% from 1990, respectively. Rheumatoid arthritis cause inflammation in the white part i.e., sclera of eyes, that result in redness and pain.
Global Eye Inflammation Treatment Market - Impact of Coronavirus (COVID – 19) Pandemic
The coronavirus disease (COVID-19) pandemic is expected to hamper the growth of the global eye inflammation treatment market over the forecast period. COVID-19 is the recent pandemic outbreak, which was first reported on December 31, 2019 in Wuhan, China. The World Health Organization declared coronavirus disease (COVID-19) a pandemic on March 11, 2020. According to the World Health Organization (WHO) Weekly epidemiological update on COVID-19, the number of new cases decreased by 6% during the week of September 26 to October 2, 2022. Therefore, as of 2 October 2022, 615 million confirmed cases and 6.5 million deaths have been reported globally.
The health care industries had faced challenged in supply, distribution, and manufacturing of medical supplies globally during COVID-19 pandemic, which as hamper the growth of global eye inflammation treatment market. For instance, according to data published on May 6, 2021, by National Center for Biotechnology Information the global lockdown had negatively impacted the manufacturing industries and supplies of healthcare products, which is expected to hamper growth of the global eye inflammation treatment market.
Browse 31 Market Data Tables and 41 Figures spread through 260 Pages and in-depth TOC on Global Eye Inflammation Treatment Market, by Drug Class (Monoclonal Antibodies, Antibiotics, Corticosteroids, Antivirals, Antifungal, Others (Analgesics, etc.)), by Dosage Form (Eye Drops, Tablets, Capsules, Others (Ophthalmic Ointments, etc.)), by Distribution Channels, (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
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Increasing prevalence of eye disease in the country is expected to drive the growth of global eye inflammation market, over the forecast period. For instance, according to the data published in February 2018, by the National Institute of Health, U.S., the prevalence of dry eye disease in India was up to 54.3% in 2017, as compared with the global prevalence of dry eye disease. Increase prevalence of dry eye disease is expected to drive the eye inflammation treatment market growth.
Key Takeaways of the Global Eye Inflammation Treatment Market:
- The global eye inflammation treatment market is expected to exhibit a CAGR of 5.8% over the forecast period (2022-2030), owing to growth in potential markets, especially in Europe. While North America accounted for the major market share.
- Product approvals by regulatory bodies, for the treatment of eye inflammation is expected to drive the growth of global eye inflammation treatment market, over the forecast period. For instance, on June 23, 2022, Ocumension Therapeutics, a pharmaceutical company, announced that the New Drug Application (NDA) for the product, YUTIO in company’s pipeline, OT-401, a sterile non-bioerodible intravitreal implant, has been approved by the National Pharmaceutical Administration for the treatment of chronic non-infectious uveitis involving the posterior segment of the eye.
- Major players operating in the global eye inflammation treatment market include GSK plc., Alcon Laboratories Inc., Merck & Co. Inc., Alimera Sciences, Inc., AbbVie Inc., Teva Pharmaceutical Industries Ltd., Akron Pharma Inc., Intas Pharmaceuticals Ltd., Amgen Inc., Sanofi S.A., Johnson & Johnson Services Inc., Pfizer Inc., Macleods Pharmaceuticals Ltd., Mylan N.V., Bausch Health Companies Inc.
