The Corneal Ulcer Treatment Market is anticipated to develop as a result of rising contact lens usage, novel treatment options, such as anti-amoebic medications, and well-established supply chain operations. The market for corneal ulcer therapy is expected to grow significantly at 5.7% CAGR from 2022 to 2029, reaching an estimated market value of about US$ 867.3 Million as of 2022. According to Future Market Insights, the market share for antibiotics is predicted to reach a huge 76.4% in 2021.
The general public as well as ophthalmologists are becoming more aware of corneal ulcers because to a number of activities by international as well as regional organisations, governments, etc. to end preventable blindness caused by contact lens use.
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Further, universities and non-profit organizations arranging eye check-up camps further aids in enhancing awareness about corneal ulcers.
FMI – a well-established name in the market research domain – forecasts that, the corneal ulcer treatment market will experience a major upturn in the coming years, reaching a valuation of US$ 1.27 Bn by 2029.
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 manufacturers in the corneal ulcer treatment market are focusing on geographical expansion as well as increased product offerings through partnerships and acquisitions.
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In order to evaluate cost effective therapy for corneal ulcer treatment, manufacturers are evaluating new drugs via clinical trials For example, in Dec. 2019, Mallinckrodt plc enrolled the first patient in the company’s Phase 4, multi-center, multiple-dose, open-label study to assess the effects of Acthar Gel as a therapy option in patients with severe keratitis.
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
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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)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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 08-years.
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