The global demand for corneal ulcer treatment market is expected to witness significant growth, with a projected compound annual growth rate (CAGR) of 5.7% from 2022 to 2029. The market was valued at approximately USD 867.3 million in 2022, highlighting the increasing need for effective therapeutic solutions for corneal ulcers.
Corneal ulcers, characterized by open sores on the cornea, can lead to serious complications, including vision loss, if not treated promptly. The growing prevalence of eye disorders and infections is driving the demand for innovative treatment options, particularly antibiotics, which accounted for a substantial market share of around 76.4% in 2021, as per Future Market Insights.
Key factors contributing to the anticipated growth of the corneal ulcer treatment market include:
- Rising Incidence of Eye Disorders: The increasing prevalence of eye infections and corneal conditions, particularly among the aging population, is fueling demand for effective treatment solutions.
- Advancements in Treatment Options: Ongoing research and development efforts are leading to innovations in treatment modalities, including new formulations and delivery methods that enhance the efficacy of antibiotic therapies.
- Growing Awareness of Eye Health: Enhanced awareness of the importance of eye care and the risks associated with untreated corneal ulcers are encouraging patients to seek timely medical intervention.
- Expansion of Healthcare Infrastructure: The development of healthcare facilities and access to advanced ophthalmic care are facilitating the availability of effective treatment options for corneal ulcers.
As the corneal ulcer treatment market continues to evolve, stakeholders are encouraged to invest in research and development to improve therapeutic solutions and address the diverse needs of patients and healthcare providers.
Corneal ulcers, a severe ocular condition with a global impact, significantly threaten 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.”
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 segment’s revenue share.
- 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 dominates 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.
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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