Eye Infection Treatment Market to See a Temporary Slump in Revenues During COVID-19 Pandemic, Projects a New FMI Report
Increasing prevalence of eye infections due to ocular surgical procedures is primarily shaping eye infection treatment market. A recent Future Market Insights (FMI) report forecasts that even though the eye infection treatment market would continue to experience a downtrend throughout 2020 due to COVId-19 pandemic, revenues would reach US$ 10 Bn by the end of 2030. Post-operative ocular infections remain among the most common eye infection types, says the FMI study.
Eye Infections Treatment Market
A recent market study published by Future Market Insights on the eye infection treatment m...
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 2019, cataracts affect over 24 million Americans aging at least 40 years. By age 75, about half of the Americans suffer from cataract. Further, diabetic retinopathy affects nearly 7.7 million Americans aging at least 40 years. In similar fashion, there were 48,229 corneal transplants performed in the US in 2013.
Demand for eye infection treatment will continue to receive a strong impetus from increasing awareness about different eye infection types and availability of treatment, further complemented by technological advancements on ophthalmology.
Key Takeaways of Eye Infection Treatment Market Study
- Antibiotics would contribute over 55% 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% total returns to shareholders.
- Increasing rate of eye surgeries and rising usage of contact lenses continue to push North American market. European market would be upheld by the expanding geriatric pool.
Demand for Eye Infection Drugs to Slump Amidst COVID-19 Pandemic
The coronavirus (COVID-19) pandemic has resulted in widened gap between supply and demand of eye infection treatments. As such, it has significantly reduced ocular surgery rate for short-term basis and, in turn, post-operative eye infections. According to World Health Organization (WHO), national healthcare resources redirection and utilization to contain COVID-19 pandemic is expected to delay and reschedule the treatment of non-critical healthcare conditions for brief period, including eye care services, and ocular surgeries.
Development and Licensing Deals with Multiple Commercialization Partners
Technology developers are laying greater emphasis on developing of novel ophthalmic formulation technologies and engaging with commercialization partners with licensing-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. ZERVIATE is the first topical ocular formulation of antihistamine cetirizine approved for treatment of ocular itching associated with allergic conjunctivitis. In addition, Ocumension Therapeutics is responsible for all development and commercialization activities in Chinese market for ZERVIATE.
Know More About FMI’s Eye Infection Treatment Market Study
Eye infection treatment market, a new study from Future Market Insights, opines on eye infections treatment from 2015 - 2019 and presents demand projections from 2020 - 2030 on the basis of; 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.
For additional insights on how the market growth will unfold amid and after the COVID-19 crisis, write to [email protected]
About the Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here
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 Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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