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Conjunctivitis Treatment Market: Growth Outlook, Industry Trends, and Forecast 2033
Conjunctivitis Treatment Global Market Report 2024
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According to The Business Research Company's, The conjunctivitis treatment market size has grown steadily in recent years. It will grow from $4.49 billion in 2023 to $4.7 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to globalization of eye care services, increased affordability and accessibility, demand for combination therapies, innovation in anti-inflammatory treatments, growth in eye care infrastructure..
The conjunctivitis treatment market size is expected to see steady growth in the next few years. It will grow to $5.48 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. The growth in the forecast period can be attributed to focus on preventive healthcare, rise in global incidence of conjunctivitis, growth in healthcare awareness and access, increase in environmental allergens, expanding aging population.. Major trends in the forecast period include regulatory shifts in treatment approvals, focus on comfort and symptom management, integration of artificial intelligence in diagnosis, demand for combination therapies, growth in herbal and alternative remedies..
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Market Drivers and Trends:
The rising prevalence of conjunctivitis cases is expected to propel the growth of the conjunctivitis treatment market going forward. Conjunctivitis refers to the inflammation of the conjunctiva, the thin, clear tissue that covers the white part of the eye and lines the inner surface of the eyelids. The growth of the conjunctivitis treatment market is driven by the increased demand for treatment options as more individuals seek medical attention and treatment due to the rising prevalence of conjunctivitis. For instance, in June 2022, according to the American Medical Association, a US-based professional association, the prevalence of viral conjunctivitis was found to be higher than bacterial conjunctivitis among adults, accounting for 78% compared to 16%, respectively, in the year 2022. Further, bacterial conjunctivitis was higher at 71% among children, while viral conjunctivitis accounted for 16%. Therefore, the rising prevalence of conjunctivitis cases drives the demand for the conjunctivitis treatment market.
Product innovation has emerged as a key trend gaining popularity in the conjunctivitis treatment market. Major companies operating in the conjunctivitis treatment market are concentrating on creating innovative products to strengthen their position in the market. For instance, in March 2022, Johnson & Johnson Vision Care, a US-based division of Johnson & Johnson focused specifically on eye health and vision care, received US FDA approval for ACUVUE Theravision with the world's first drug-eluting contact lens. This innovative technology combines ACUVUE daily disposable contact lenses with an established antihistamine, creating a new category in the market. ACUVUE Theravision with is indicated for preventing ocular itch caused by allergic conjunctivitis and providing vision correction for suitable contact lens wearers without red eyes and with up to 1.00 D of astigmatism.
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Major Key Players of the Market:
Pfizer Inc., Johnson and Johnson, AbbVie Inc., Novartis AG, Sanofi SA, Boehringer Ingelheim, Viatris Inc., Teva Pharmaceutical Industries Ltd., Alcon Laboratories Inc., Sun Pharmaceutical Industries Ltd., Aurobindo Pharma Limited, Dr. Reddy's Laboratories Ltd., Cipla Inc., Bausch Health Companies Inc, Santen Pharmaceuticals Co. Ltd, Lupin Limited, Allergan PLC, Alembic Pharmaceuticals Ltd, Akorn Inc., Micro Labs Ltd., Indoco Remedies Ltd., Mankind Pharma Ltd., AFT pharmaceuticals Limited, Ocular Therapeutics Inc., Sirion Therapeutics Inc., Jabs Biotech Pvt. Ltd., Atopix Therapeutics Ltd., JAWA Pharmaceuticals Pvt. Ltd., Eyevance Pharmaceuticals LLC, NicOx SA
Conjunctivitis Treatment Market 2024 Key Insights:
• The conjunctivitis treatment market size is expected to see steady growth in the next few years. It will grow to $5.48 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%.
• Rising Prevalence Of Conjunctivitis Propelling Growth In The Conjunctivitis Treatment Market
• Product Innovation Driving Advancements In The Conjunctivitis Treatment Market
• North America was the largest region in the conjunctivitis treatment market in 2023
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