The global keratitis treatment market is predicted to exceed a remarkable worth of US$ 789.89 million in 2023, with a compound annual growth rate (CAGR) of 6% projected from 2023 to 2033. The increasing prevalence of contagious diseases is propelling the keratitis treatment market. As the heat increases, the disease becomes more prevalent.
Furthermore, because it has been found to be common in tropical regions, an increase in global temperature influences the incidence of keratitis, propelling the market. Despite the fact that it is treatable, this is the most common cause of corneal blindness induced by an infection in the United States. The prevalence rate of neurotrophic keratitis (NK) in the United States ranges from 56 to 67 cases per 100,000 people.
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The Asia Pacific market is expected to grow due to an increase in the volume of awareness programs and citizens affected by fungal keratitis. Besides which, regional governments’ efforts to improve medical facilities for the community aid in the spread of fungal keratitis treatment. The use of new medications and research and development in regions such as Asia Pacific and Latin America is also expected to drive business expansion in the coming years. According to the most recent News Medical Life Sciences report, approximately 25,000 people in the United States develop bacterial keratitis each year.
Key Takeaways from the Market Study
- Sales increased significantly from 2018 to 2022, with a CAGR of 5.1%.
- The average global prevalence of fungal keratitis was found to be about one million cases, with 8% to 11% of patients losing an eye.
- With a market worth USD 200 million in 2021, Asia-Pacific is the second largest region.
- The Asia-Pacific market is projected to expand at a 6.3% CAGR.
- The global Keratitis Treatment market is predicted to be worth US$ 1,499.45 million.
“Keratitis is becoming more prevalent as the number of individuals who wear contact lenses increases. The most common risk factors for infection are contact lens use, associated poor hygiene, and exposure to amoeba-infested waterways” says FMI’s analyst.
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Key Market Players
Key players in the Keratitis Treatment market are Alvogen, Bausch health Companies Inc, Gilead Biosciences Inc, Glenmark Pharmaceuticals, Leadiant Biosciences, Merck & Co. Inc., Aurolab, Eyevance Pharmaceuticals LLC, Pfizer Inc., and Novartis AG.
- Pfizer Inc. finished the contract to spin off its Upjohn Business and integrate it with Mylan N.V. to form Viatris Inc. in November 2020.
- Bausch Health Companies Inc. reached an agreement in September 2020 to procure an opportunity to buy all of Allegro Ophthalmics’ ophthalmology resources.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global keratitis treatment market, providing historical data for 2018-2022 and forecast statistics from 2023-2033.
To understand opportunities in the keratitis treatment market, the market is segmented on the basis of Keratitis Types (Noninfectious Keratitis, Infectious Keratitis, Bacterial Keratitis, Fungal Keratitis, Viral Keratitis, Acanthamoeba Keratitis), By Treatment (Topical Antibiotics, Antifungals, Antiviral, Biocides), across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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Key Segments Profiled in the Keratitis Treatment Market Industry Survey
By Keratitis Types:
- Noninfectious Keratitis
- Infectious Keratitis
- Bacterial Keratitis
- Fungal Keratitis
- Viral Keratitis
- Acanthamoeba Keratitis
- Topical Antibiotics
By End Users:
- Specialty Clinics
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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