The global keratitis treatment market is anticipated to witness remarkable growth in the coming years, with a predicted value exceeding US$ 789.89 million by 2023 and projected to reach US$ 1,499.45 million by 2033. This growth trajectory represents a compound annual growth rate (CAGR) of 6% from 2023 to 2033.
Keratitis, a condition characterized by inflammation of the cornea, has garnered increased attention due to its rising prevalence worldwide. Factors such as the escalating incidence of contagious diseases and the influence of climatic changes, particularly in tropical regions, contribute significantly to the expansion of the keratitis treatment market.
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“As temperatures rise globally, we observe a notable surge in the prevalence of keratitis, particularly in tropical areas. This trend underscores the urgent need for effective treatment options to address the growing burden of this condition,” stated FMI.
Despite being treatable, keratitis remains a leading cause of corneal blindness induced by infection in the United States. Neurotrophic keratitis (NK), a subtype of the condition, is particularly prevalent, with a reported prevalence rate ranging from 56 to 67 cases per 100,000 people in the United States alone.
The market’s growth is fueled by advancements in treatment modalities, increasing healthcare expenditure, and a growing emphasis on ocular health. With innovative therapies and technologies on the horizon, stakeholders in the keratitis treatment market are poised to address the evolving needs of patients worldwide.
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:
- Alvogen
- Bausch Health Companies Inc.
- Gilead Biosciences Inc.
- Glenmark Pharmaceuticals
- Leadiant Biosciences
- Merck & Co. Inc.
- Aurolab
- Eyevance Pharmaceuticals LLC
- Pfizer Inc.
- Novartis AG
Recent Development:
- 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.
Key Segments Profiled in the Keratitis Treatment Industry Survey:
By Keratitis Types:
- Noninfectious Keratitis
- Infectious Keratitis
- Bacterial Keratitis
- Fungal Keratitis
- Viral Keratitis
- Acanthamoeba Keratitis
By Treatment:
- Topical Antibiotics
- Antifungals
- Antiviral
- Biocides
By End Users:
- Hospitals
- Specialty Clinics
By Region:
- North America
- Europe
- East Asia
- South Asia
- Oceania
- Latin America
- Middle East and Africa
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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 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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