Press release
Allergy Conjunctivitis Market to Reach $3.2 Billion by 2028 with 5.9% CAGR, Boosted by Personalized Medicine and AI Integration
Allergy Conjunctivitis Market Report
Allergy Conjunctivitis Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $9.82 billion In 2028 At A CAGR Of 7.4%:
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 in the historic period can be attributed to increasing incidence of allergic conditions, advancements in research and development, changing lifestyles and environmental factors, expansion of patient awareness, collaborations and partnerships, healthcare infrastructure development.
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 growth in the forecast period can be attributed to increasing global allergy burden, personalized medicine approaches, growing geriatric population, biotechnological innovations, expanding healthcare access in developing regions, regulatory support and approvals. Major trends in the forecast period include integration of novel drug delivery technologies, emphasis on patient education and awareness, development of combination therapies, incorporation of artificial intelligence (ai) in diagnosis, rise in environmental allergen management solutions.
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Allergy Conjunctivitis Market Major Segments
The allergy conjunctivitis market covered in this report is segmented -
1) By Drug Class: Antihistamines and Mast Cell Stabilizers, Corticosteroids, Other Drug Classes
2) By Disease Type: Mild, Severe
3) By Distribution Channel: Hospital Pharmacies, Drug Stores and Retail Pharmacies, Online Pharmacies
Key Driver - Navigating The Surge In Allergy Conjunctivitis Amidst Rising Air Pollutants And Chemical Exposure
The rise in exposure to air pollutants and chemicals is expected to boost the growth of the allergy conjunctivitis market going forward. Human eyes, one of the most sensitive parts of the human body, are constantly at risk due to ongoing exposure to the poisons in air pollution. Long-term exposure to airborne pollutants and chemicals causes a variety of eye issues, including allergic conjunctivitis, allergies, burning, watering, blurred vision, redness, itching, and persistent discomfort, requiring treatments. For instance, according to the United States Environmental Protection Agency (EPA), an independent executive agency of the United States federal government tasked with environmental protection matters, in the United States, around 67 million tons of pollutants were released into the atmosphere in 2021. Therefore, the rise in exposure to air pollutants and chemicals is driving the growth of the allergy conjunctivitis market.
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Prominent Trend - Unveiling The Product Revolution In The Allergy Conjunctivitis Market
Product innovation is the key trend gaining popularity in the allergy conjunctivitis market. Major companies operating in the allergy conjunctivitis market are focused on developing innovative and advanced products to strengthen their market position. For instance, in March 2022, Allergan, an Irish- US-based medical company launched LASTACAFT, an eye allergy drops. The LASTACAFT brand provides relief in as little as three minutes from itchiness and allergies and lasts through 16 hours. LASTACAFT is instilled directly in the eye to block the histamines that initiate ocular itching to quickly calm the allergic response and provide relief throughout the day from itchy eyes. This solution is an antihistamine eye drop that temporarily relieves itchy eyes due to pollen, ragweed, grass, animal hair, and dander for ages two and older. With this new solution, the company can provide quality eye care products and expands their retail eye drop portfolio.
Allergy Conjunctivitis Market Players
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
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Largest And Fastest Growing Region In The Market
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 Table Of Content For The Market Report Include:
1. Executive Summary
2. Allergy Conjunctivitis Market Report Structure
3. Allergy Conjunctivitis Market Trends And Strategies
4. Allergy Conjunctivitis Market - Macro Economic Scenario
5. Allergy Conjunctivitis Market Size And Growth
…..
27. Allergy Conjunctivitis Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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