With an estimated market value of roughly US$ 867.3 Mn as of 2022, the global demand for corneal ulcer treatment is anticipated to experience a significant growth of 5.7% CAGR from 2022 to 2029. Antibiotics are expected to have a sizable market share of roughly 76.4% in 2021, according to Future Market Insights.
| Data Points | Market Insights |
| Market Value 2021 | US$ 817.9 Mn |
| Market Value 2022 | US$ 867.3 Mn |
| Market Value 2029 | US$ 1.27 Bn |
| CAGR 2022-2029 | 5.7% |
| Market Share of Top 5 Countries | 72% |
The market for corneal ulcer treatment is anticipated to grow as a result of rising contact lens usage, new treatment options, such as anti-amoebic drugs, and well-established supply chain operations. The general public as well as ophthalmologists are becoming more aware of corneal ulcers thanks to a number of initiatives by international as well as regional organisations, governments, etc. to end avoidable blindness caused by contact lens use. The organisation of eye check-up camps by universities and nonprofit organisations also contributes to raising awareness of corneal ulcers.
According to FMI, a reputable name in market research, the corneal ulcer treatment market will grow significantly over the next few years, reaching a valuation of US$ 1.27 Bn by 2029.
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Key Takeaways of Corneal Ulcer Treatment Market Study
- Treatment of broad-spectrum corneal ulcers using antibiotics is expected to gain traction and contribute more than 75% of revenue share during the forecast period.
- Growing bacterial keratitis requiring antibiotics for treatment will contribute significantly to the revenue share of the segment.
- Eye drops or eye ointments dominate the market by form type, as these are relatively cheaper and do not require other interventional and oral route for drug delivery.
- By distribution channel, retail pharmacies are expected to gain more than 50% of market share during the forecast period.
- North America is dominating the global corneal ulcer treatment market, while East Asia is expected to offer lucrative growth opportunities, owing to rising healthcare infrastructure and industrialization.
Acquisition – Key Strategy Followed by Leading Manufacturers
Leading suppliers in the corneal ulcer treatment market are concentrating on geographic growth and expanded product offerings through joint ventures and acquisitions. Manufacturers are evaluating new drugs through clinical trials in order to determine the most affordable therapy for the treatment of corneal ulcers. For instance, Mallinckrodt plc enrolled the first patient in the Phase 4, multi-center, multiple-dose, open-label study the company is conducting to evaluate the effectiveness of Acthar Gel as a treatment option for people with severe keratitis in December 2019.
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A new study by Future Market Insights opines on the evolution of the corneal ulcer treatment market from 2014–2018, and presents demand projections for 2019–2029 on the basis of drug class (antibiotics, antifungals, antivirals, anti-amoebic drugs, corticosteroids, and NSAIDs), indication (bacterial keratitis, fungal keratitis, viral keratitis, and acanthamoeba keratitis), form (tablets, eye drops, and vials), and distribution channel (hospital pharmacies, retail pharmacies, drug stores, and online pharmacies), across seven prominent regions.
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Key Market Segments Covered In Corneal Ulcer Treatment Industry Research
By Drug class:
- Antibiotics
- Antifungals
- Antivirals
- Corticosteroids
- NSAID’s
By Form:
- Tablet
- Eye Drops/ Ointments
- Vials
By Route of Administration:
- Oral
- Topical
- Injectables
By Indication:
- Bacterial Keratitis
- Fungal Keratitis
- Viral Keratitis
Acanthamoeba Keratitis:
- By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
- By Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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