Pune, India, Nov. 23, 2022 (GLOBE NEWSWIRE) -- The global allergic conjunctivitis market size is projected to reach USD 3.60 billion by 2028, exhibiting a CAGR of 5.4% during the forecast period. The value of the market was estimated to be USD 2.40 billion in 2020 and is expected to touch USD 2.50 billion in 2021, as per the report by Fortune Business Insights™, titled "Allergic Conjunctivitis Market, 2021-2028
Key Industry Development:
February 2021: After securing approval from the FDA in 2020, Alcon announced that the Pataday Once Daily Relief Extra Strength, the company's eye allergy solution, is now commercially available across offline and online stores in the US. The FDA clearance allowed the drug to be sold over-the-counter (OTC).
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Report Scope:
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 5.4% |
| 2028 Value Projection | USD 3.60 billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 2.40 billion |
| Historical Data | 2017 to 2019 |
| No. of Pages | 140 |
Driving Factor:
Regulatory Clearances to Novel Medications to Support Market Growth
Recognizing the need for treating allergic conjunctivitis, regulatory bodies such as the US Food and Drug Administration (FDA) are actively green lighting novel therapies that can effectively tackle the condition and provide relief to patients. For example, in March 2021, Ocular Therapeutix's DEXTENZA was accepted for review by the USFDA and if approved, the drug would carry an additional indication of treating ocular itching commonly associated with allergen-based conjunctivitis. Similarly, in January 2018, Alocril by Allergan was approved by the USFDA for treating eye itching in allergic conjunctivitis. The proven safety of the drug also allows it to be used on children as young as three. Supportive regulatory environment for ocular therapies and medications are, thus, proving highly beneficial for this market.
Increasing Research into Drug Efficacy to Boost the Market
Allergic eye diseases and conditions require the administration of medications that can provide considerable relief from the discomfort and possible pain from these conditions. As a result, a few companies and academic institutions are conducting intensive research to investigate the efficacy of novel therapeutics for ocular allergies. For example, in March 2021, a team from the Shanghai Jiaotong University, China, studied the effectiveness of an innovative delivery system of pemirolast potassium-loaded gellan gum in situ gel for allergic conjunctivitis. The study showed that the gel exhibited excellent stability and did not damage any part of the eye during delivery. In April 2021, according to a study published in the American Journal of Ophthalmology, Dextenza by Ocular Therapeutix can relieve ocular itching in patients suffering from this disease for nearly four weeks. Such studies are raising the potential of novel treatments for this form of conjunctivitis and fueling the growth of the market.
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Segments:
By drug class, this market has been trifurcated into antihistamines & mast cell stabilizers, corticosteroids, and others. The corticosteroids segment held a market share of 14.0% in 2020.
In terms of disease type, the market's segments include mild and severe allergic conjunctivitis. Based on distribution channel, the market has been divided into hospital pharmacies, drug stores & retail pharmacies, and online pharmacies. On the basis of region, the market has been categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
| Market Segmentation | By Drug Class
|
By Disease Type
| |
By Distribution Channel
| |
By Geography
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Regional Insights:
Regulatory Clearances to Novel Medications to Support Market Growth
Recognizing the need for treating allergic conjunctivitis, regulatory bodies such as the US Food and Drug Administration (FDA) are actively green lighting novel therapies that can effectively tackle the condition and provide relief to patients. For example, in March 2021, Ocular Therapeutix's DEXTENZA was accepted for review by the USFDA and if approved, the drug would carry an additional indication of treating ocular itching commonly associated with allergen-based conjunctivitis. Similarly, in January 2018, Alocril by Allergan was approved by the USFDA for treating eye itching in allergic conjunctivitis. The proven safety of the drug also allows it to be used on children as young as three. Supportive regulatory environment for ocular therapies and medications are, thus, proving highly beneficial for this market.
Competitive Landscape:
Amplifying Customer Reach to be the Dominant Business Strategy
In solidifying their position in the market, key developers of allergic conjunctivitis therapeutics are implementing strategies that can expand their customer reach in a sustained manner. For this, companies are enhancing their distribution networks in various markets and streamlining production capabilities to augment their presence in global value chains.
List of Key Players Mentioned in the Report:
- Allergan (AbbVie Inc.) (North Chicago, U.S.)
- Santen Pharmaceutical Co., Ltd. (Osaka, Japan)
- Bausch & Lomb Incorporated (Laval, Canada)
- Alcon (Geneva, Switzerland)
- Novartis AG (Basel, Switzerland)
- Eyevance Pharmaceuticals LLC (Fort Worth, U.S.)
- Sun Pharmaceutical Industries Ltd. (Mumbai, India)
- Ocular Therapeutix, Inc. (Bedford, U.S.)
- Eton Pharmaceutical (Deer Park, U.S.)
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Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Allergic Conjunctivitis - By Key Countries
- Pipeline Analysis
- Key Industry Developments
- New Product Launches
- Impact of COVID-19 on the Allergic Conjunctivitis Market
- Allergy - Statistics and Facts
- Global Allergic Conjunctivitis Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Drug Class
- Antihistamines & Mast Cell Stabilizers
- Corticosteroids
- Others
- Market Analysis, Insights and Forecast – By Disease Type
- Mild Allergic Conjunctivitis
- Severe Allergic Conjunctivitis
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Drug Stores & Retail Pharmacies
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Allergic Conjunctivitis Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis – By Drug Class
- Antihistamines & Mast Cell Stabilizers
- Corticosteroids
- Others
- Market Analysis, Insights and Forecast – By Disease Type
- Mild Allergic Conjunctivitis
- Severe Allergic Conjunctivitis
- Market Analysis – By Distribution Channel
- Hospital Pharmacies
- Drug Stores & Retail Pharmacies
- Online Pharmacies
- Market Analysis – By Country
- U.S.
- Canada
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