The Global Eye Infection Treatment Industry is poised for substantial growth, with a projected revenue of US$7.3 billion in 2022, according to the latest findings from a comprehensive study conducted by Future Market Insights Inc. The industry is expected to maintain a steady upward trajectory, demonstrating a Compound Annual Growth Rate (CAGR) of 3.8% from 2022 to 2030.
The research indicates that the demand for effective solutions in treating eye infections is a key driver behind this anticipated growth. As advancements in medical science continue, coupled with an increasing awareness of eye health, the industry is witnessing a surge in investments and innovation.
By the end of the forecast period in 2030, the Global Eye Infection Treatment Industry is anticipated to reach an impressive US$9.9 billion. This significant growth underscores the sector’s resilience and potential to meet the evolving healthcare needs of a global population.
Rising Caseloads
Caseloads of ocular surgical conditions such as cataracts, glaucoma, age-related macular degeneration (AMD), and diabetic retinopathy are growing due to sedentary lifestyle habits, and expanding geriatric cohort. According to the US statistics for 2021, cataracts affect over 24 million Americans aged at least 40 years. By age 75, about half of Americans suffer from cataracts. Further, diabetic retinopathy affects nearly 7.7 million Americans aged at least 40 years. Similarly, there were 48,229 corneal transplants performed in the US in 2015.
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Key Takeaways of Global Eye Infection Treatment Industry Study
- Antibiotics would contribute over 55% of revenue share in the eye infection treatment market owing to their use in treating primary eye infections and post-surgical eye infections.
- Eye drop sales capture over 60% market share in the eye infection treatment market.
- Conjunctivitis would account for a third of eye infection treatment demand through 2030.
- Bacterial infections continue to account for over 3/5th market share.
- Hospitals and retail pharmacies collectively generate over 70% of total returns to shareholders.
- The increasing rate of eye surgeries and rising usage of contact lenses continue to push the North American market. European market would be upheld by the expanding geriatric pool.
Demand for eye infection treatment will continue to receive a strong impetus from increasing awareness about different eye infection types and the availability of treatment, further complemented by technological advancements in ophthalmology. Says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Development and Licensing Deals with Multiple Commercialization Partners
Technology developers are laying greater emphasis on developing novel ophthalmic formulation technologies and engaging with commercialization partners to license out proprietary ophthalmic technologies.
For instance, Nicox S.A. has licensed out ZERVIATE (cetirizine ophthalmic solution) 0.24% to Eyevance Pharmaceuticals LLC for commercialization of ZERVIATE in the US. SERVICE is the first topical ocular formulation of the antihistamine cetirizine approved for the treatment of ocular itching associated with allergic conjunctivitis. In addition, Ocumension Therapeutics is responsible for all development and commercialization activities in the Chinese market for ZERVIATE.
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Demand for Eye Infection Drugs to Slump Amidst COVID-19 Pandemic
The coronavirus (COVID-19) pandemic has resulted in a widened gap between the supply and demand of eye infection treatments. As such, it has significantly reduced ocular surgery rate on a short-term basis and, in turn, post-operative eye infections.
According to the World Health Organization (WHO), national healthcare resources redirection and utilization to contain the COVID-19 pandemic is expected to delay and reschedule the treatment of non-critical healthcare conditions for a brief period, including eye care services, and ocular surgeries.
Know More About FMI’s Global Eye Infection Treatment Industry Study
Global Eye Infection Treatment Industry, a new study from Future Market Insights, opines on eye infection treatment from 2015 – 2021 and presents demand projections from 2022 – 2030 based on; drug class (antibiotics, antivirals, antifungals, antihistamines, corticosteroids, and glucocorticoids), dosage form (tablet, capsule, ophthalmic ointment, and eye drops), indication (conjunctivitis, keratitis, endophthalmitis, blepharitis, stye or sty (hordeolum), uveitis, cellulitis, and ocular herpes), causative agent (virus, bacteria, fungus, and allergens) and distribution channel (hospital pharmacies, retail pharmacies, online pharmacies, and drug stores) across seven prominent regions.
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Key Segments of Global Eye Infection Treatment Industry Survey by Drug Class:
- Antibiotics
- Sulfonamides
- Macrolides
- Erythromycin
- Chloramphenicol
- Aminoglycosides
- Fluoroquinolones
- Vancomycin
- Tetracyclines
- Antivirals
- Thymidine-Based Nucleoside Analogues (Trifluridine)
- Thymidine Phosphorylase Inhibitors (Trifluridine)
- Acyclic Nucleoside Analogue of 2’Deoxyguanasine (Ganciclovir)
- Acyclic Guanine Nucleoside Analog (Acyclovir)
- Others
- Antifungals
- Polyenes (Amphotericin B (AMB) And Natamycin (NTM))
- Azoles (Miconazole (MCZ), Econazole (ECZ) And Ketoconazole (KCZ))
- Pyrimidines
- Echinocandins (Caspofungin (CFG) and Micafungin (MFG))
- Others
- Antihistamines
- Corticosteroids
- Glucocorticoids
By Dosage Form :
- Eye Infections Treatment Tablets
- Eye Infections Treatment Capsules
- Eye Infections Treatment Ophthalmic Ointments
- Eye Infections Treatment Eye Drops
- Others
By Indication :
- Eye Infections Treatment for Conjunctivitis
- Eye Infections Treatment for Keratitis
- Eye Infections Treatment for Endophthalmitis
- Eye Infections Treatment for Blepharitis
- Eye Infections Treatment for Stye or Sty (Hordeolum)
- Eye Infections Treatment for Uveitis
- Eye Infections Treatment for Cellulitis
- Eye Infections Treatment for Ocular Herpes
By Causative Agent :
- Virus
- Bacteria
- Fungus
- Allergens
By Distribution Channels :
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Drug Stores
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 faced by clients 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 stands as 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 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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