The Corneal Ulcer Treatment Market is poised for a promising future, driven by rising public awareness and the development of innovative treatment options. According to a recent analysis by Future Market Insights (FMI), a leading market research firm, the market is currently valued at approximately US$867.3 million in 2022. This positive trend is expected to continue, with the market projected to grow steadily at a Compound Annual Growth Rate (CAGR) of 5.7% from 2022 to 2029. This trajectory is anticipated to propel the market to reach an impressive US$1.27 billion by 2029.
Corneal ulcers, a severe ocular condition with a global impact, pose a significant threat to vision health. The rising prevalence of corneal ulcers has ignited the development of advanced treatment options, driving the Global Corneal Ulcer Treatment Industry towards unprecedented growth.
“Low-cost drugs being offered by generic drug manufacturers, especially in emerging countries, has substantially lowered treatment cost, and is giving tough competition to key players in the Global Corneal Ulcer Treatment Industry.”
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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 another interventional and oral route for drug delivery.
- By distribution channel, retail pharmacies are expected to gain more than 50% of the market share during the forecast period.
- North America is dominating the Global Corneal Ulcer Treatment Industry, 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 Global Corneal Ulcer Treatment Industry are focusing on geographical expansion as well as increased product offerings through partnerships and acquisitions. 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.
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Key Segments Covered In Corneal Ulcer Treatment Market 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
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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