The global vernal keratoconjunctivitis market is poised for substantial growth, with a projected market value of USD 436.9 Million in 2023, anticipated to escalate to USD 782.42 Million by 2033. This growth trajectory is fueled by a Compound Annual Growth Rate (CAGR) of 6% expected during the forecast period from 2023 to 2033.
Vernal keratoconjunctivitis, characterized by inflammation of the conjunctiva and cornea, is witnessing a surge in demand for treatments on a global scale. A primary driving force behind this growth is the escalating incidence of conjunctivitis, particularly in emerging nations. Over the historical period from 2017 to 2022, the market for Vernal Keratoconjunctivitis showcased a Compound Annual Growth Rate (CAGR) of 4%, laying a robust foundation for the anticipated expansion in the coming decade.
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This significant increase in market value underscores the growing need for effective treatments and therapies for vernal keratoconjunctivitis, a condition that can significantly impact individuals’ quality of life.
Key market players are focusing on research and development initiatives to introduce innovative treatments, thereby addressing the unmet medical needs of patients worldwide. Furthermore, strategic collaborations and partnerships are expected to drive market growth by facilitating the development and commercialization of novel therapies.
As the vernal keratoconjunctivitis market continues to expand, stakeholders across the healthcare sector are encouraged to invest in advanced research, development, and commercialization efforts to meet the rising demand for effective treatments and improve patient outcomes.
Key Takeaways from the Market Study:
- From 2017-2022, the Vernal Keratoconjunctivitis market grew at CAGR of 4%.
- The global Vernal Keratoconjunctivitis market is expected to grow with a 6% CAGR during 2023-2033.
- As of 2033, the Vernal Keratoconjunctivitis market is expected to reach USD 782.42 Million.
- According to the FMI analysis, Hospital pharmacies account for the largest market share.
- Tablets are expected to show the highest CAGR owing to the increasing demand for new approaches.
- North America is expected to possess 20% market share for the Vernal Keratoconjunctivitis market.
- The Asia Pacific market is predicted to increase significantly throughout the forecast period, with a CAGR of 5% during the forecast period.
“With the increasing prevalence and awareness of ocular allergies has significantly increased owing to several factors such as faster urbanization and a growing number of allergens.” says an FMI analyst
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Market Competition:
Key players in the Vernal Keratoconjunctivitis market are
- Allakos
- iCo Therapeutics
- Akari Therapeutics
- Santen
In March 2022, Visus Therapeutics Inc. announced the launch of the first of two pivotal phases 3 trials (BRIO-I and BRIO-II) for its lead asset, BRIMOCHOL PF, a topical preservative-free ophthalmic solution for treating presbyopia.
Key Segments Profiled in the Vernal Keratoconjunctivitis Industry Survey:
Treatment:
- Mast Cell Stabilizers
- Antihistamines
- Nonsteroidal Anti-inflammatory Drugs – NSAIDs
- Topical Corticosteroids
- Cyclosporine
- Tacrolimus
- Others
Drug Type:
- Bertilimumab
- Verkazia
- Lodoxamide
- Tacrolimus
- Antolimab
- Nomacopan
- Others
Dosage form:
- Ointment
- Gel
- Tablets
- Others
Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
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