Global corneal ulcer treatment market is set
for propitious growth with a healthy CAGR of more than 5.5% during the forecast
period (2019-2029). The market revenues will exceed an astounding US$ 1 Bn mark
by 2029 end, as projected by a new report of Future Market Insights (FMI).
Potential damaging effects associated with excessive use of contact lenses are
predominantly accentuating the need for corneal ulcer treatment, opines the
study.
"Contact lens users are more susceptible
to corneal ulcers than general population, in view of inappropriate usage,
handling, and constant rubbing of contact lenses. Contamination of contact
lenses may further lead to acanthamoeba keratitis, which in turn fosters the
demand for effective treatment," states the FMI report.
Key Takeaways of
Corneal Ulcer Treatment Market Study
·
Antibiotics
will remain the leading drug category, with projected revenue share of 77% in
2029.
·
Antifungals
are set to exhibit promising growth in sales during forecast period.
·
Eye
drops continue to be preferred form of corneal ulcer treatment.
·
About
50% of corneal ulcer treatment drugs are distributed through retail pharmacies.
·
Bacterial
keratitis will remain a prevalent form of corneal ulcer during the forecast
period.
·
North
America to remain a lucrative regional market for corneal ulcer treatment.
Corneal Ulcer
Treatment Market - Top Growth Drivers
·
Increasing
number of clinical trials targeting development of cost-effective treatment
options will fuel market growth.
·
Improving
research funding and enhanced epidemiological knowledge are major growth levers
for market.
·
Emergence
of alternative treatment methodologies such as dual therapy is driving the
demand.
Corneal Ulcer
Treatment Market - Key Restraints
·
High
price point of novel drugs continues to limit their adoption to a large extent.
·
Enhanced
antibiotic resistance of certain bacteria is a major concern for key players,
impeding market growth.
Competition
Landscape of Corneal Ulcer Treatment Market
Some of the
distinguished players in the global corneal ulcer treatment landscape that are
covered in this study include, but are not limited to, Bayer AG, Novartis AG,
Allergan PLC, Baxter International Inc., Fresenius Kabi, Dr. Reddy's Laboratories
Inc., and Sun Pharmaceutical Industries Ltd. Increasing research funds,
epidemiological data have enabled market leaders to conduct more clinical
trials. This would allow them to develop safer and cost-effective treatment
alternatives for corneal ulcer. Prominent players such as Allergan PLC are
opting for strategic collaborations to diversify their offerings and thereby,
expand global footprint. Similarly, increased penetration and geographical
expansion is the key strategic focus of Baxter International Inc.
More about the Report
This Future Market Insights study of 244 pages offers actionable
insights on corneal ulcer treatment market. The market analysis is based on
drug class (antibiotics, antifungals, antivirals, anti-amoebic drugs,
corticosteroids and nonsteroidal anti-inflammatory drugs), indication
(bacterial keratitis, fungal keratitis, viral keratitis and acanthamoeba
keratitis), form (tablets, ointments/eye drops and vials), distribution channel
(hospital pharmacies, retail pharmacies, drug stores and online pharmacies) across
seven regions (Europe, East Asia, South Asia, Oceania, North America, Latin
America, Middle East & Africa).
Explore Extensive Coverage of FMI's Healthcare, Pharmaceuticals
and Medical Devices Landscape
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market
intelligence and consulting services, serving clients in over 150 countries.
FMI is headquartered in London, the global financial capital, and has delivery
centers in the U.S. and India. FMI's latest market research reports and
industry analysis help businesses navigate challenges and take critical
decisions with confidence and clarity amidst breakneck competition.
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