The global allergic conjunctivitis treatment market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). Allergic conjunctivitis refers to a common ophthalmic disorder where the conjunctiva of the eye develops an inflammation due to an allergic reaction, a resultant of an individual’s interaction with an allergen. The market growth is majorly attributable to the rising prevalence of allergic conjunctivitis among the global population. Recently, the prevalence of eye-related allergies has considerably increased due to a number of factors such as rapid urbanization and an increasing number of allergens. This disease is affecting a significant proportion of the global population but may often get ignored and underdiagnosed, both by the patient as well as the healthcare specialists.
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Although the increasing awareness among the global population is projected to surge the demand for treatment for ocular conditions during the forecast period. Adding to this, a number of biopharmaceutical companies are planning to invest in R&D initiatives for the development of novel drugs and therapies for the treatment of this disorder. For instance, in July 2020, Zhaoke Ophthalmology Pharmaceutical Ltd. and IACTA Pharmaceuticals signed an agreement to accelerate the development of drugs called IC 265 and IC 270. The former is developed to treat dry eye and the latter for ocular allergy. Adding to this, a strong influx of generic versions of prominent drugs is likely to create growth opportunities for the global market during the forecast period. Furthermore, the increasing instances of prescription (Rx) drugs to over-the-counter (OTC) switches are also expected to boost market growth.
Some key players operating in the market include Novartis AG, Bausch Health Companies, Inc., Allergan, Akorn Inc., and others. These players are eyeing on strengthening their position in the market by adopting various strategies as mergers and acquisitions, partnerships, collaborations, new product launch and development in the existing product portfolio, and so on.
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Market Coverage
- Segment Covered
- Regions Covered- Globally
Competitive Landscape: Novartis AG, Bausch Health Companies, Inc., Allergan, Akorn Inc.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Allergic Conjunctivitis Treatment Market – Segmentation
By Type
- Acute Allergic Conjunctivitis Treatment
- Chronic Allergic Conjunctivitis Treatment
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