[244 Pages Report] The global demand for corneal ulcer treatment market is expected to experience a significant growth of 5.7% CAGR from 2022 to 2029, with an estimated market value of around US$ 867.3 Million as of 2022. As per Future Market Insights’ projections, Antibiotics hold a substantial share of around 76.4% in 2021 within the global market.
Market Outlook:
| Data Points | Market Insights |
|---|---|
| Market Value 2021 | US$ 817.9 million |
| Market Value 2022 | US$ 867.3 million |
| Market Value 2029 | US$ 1.27 billion |
| CAGR 2022 to 2029 | 5.7% |
| Market Share of Top 5 Countries | 72% |
Corneal ulcer treatment market holds nearly 2.7% market share in the overall Ophthalmology therapeutics market valued at around 30 Bn in 2021.
A corneal ulcer is an open sore on the cornea. Cornea covers iris and pupil of the eye. It is also known as keratitis. If it is left untreated, corneal ulcers can hamper vision causing permanent scarring. Normal treatments for this condition involve surgical treatment in which the damaged cornea is replaced by a healthy donor cornea. After infection subsides, ulcer is further treated with additional medication.
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| Particulars | Details |
|---|---|
| H1, 2021 | 5.72% |
| H1, 2022 Projected | 5.72% |
| H1, 2022 Outlook | 5.72% |
| BPS Change - H1, 2022 (O) - H1, 2022 (P) | (-) 10 ↓ |
| BPS Change - H1, 2022 (O) - H1, 2021 | (-) 13 ↓ |
FMI provides a comparative study of the global corneal ulcer treatment market's growth rates and development prospects. Product adoption of contact lens, as well as the impact of macro and industrial factors, have an impact on the market.
Due to advancements in medical administration and microsurgical techniques, the frequency of corneal perforations has reduced in recent decades, resulting in improved outlook for corneal ulcers and a diminution in complications associated with the condition, and is a key impeding factor in this sector.
According to FMI, the corneal ulcer treatment market will drop by 13 basis point share (BPS) in H1-2022 (O) as compared to H1-2021. Furthermore, on comparing H1-2022 projected and H1-2022 outlook period, the declining growth rate is expected by nearly 10 BPS for this market.
One of the main reasons for the deterioration in BPS is corneal scarring, vascularization, or perforation, glaucoma, uneven astigmatism, cataracts, endophthalmitis, and vision loss, which are all complications of untreated or improperly treated corneal ulcers.
The surgical management of corneal ulcerations and perforations, can conversely provide a lucrative growth impact on the corneal ulcer treatment market.
Global corneal ulcer treatment sales were valued at around US$ 817.9 Mn at the end of 2021. The development of innovative medical treatments has witnessed a high boost over the past few years. In comparison to the traditional methods for ulcer treatment, researchers are adding value to this domain by creating various cost-effective treatment options.
The corneal ulcer treatment displays a substantial number of benefits to the patients which include enhanced diagnostics capabilities, minor incisions during surgery, greater precision, lower risks of infections, better patient outcomes with a reduced time for healing, and longer lifespan.
Currently many such novel treatments are undergoing clinical trials. Most of the current treatment methods include drug related therapies, scientists also are working in order to develop new drugs to treat corneal ulcer.
The current corneal ulcer treatment market includes different drug types such as antibiotics, antifungals, antivirals and many more. By drug type, antibiotics was the dominant market segment in global market in 2021 which contributed 76.4% of the revenue share due to its effective action against disease causing pathogens.
The applications for improvement of corneal ulcer treatment are set to rise in number with increase in awareness of treatment methods, proper usage of contact lenses in order to improve the health of people with and expedite healing process. The global corneal ulcer treatment market is expected to be valued at US$ at 1.27Bn by the end of 2029 and is projected to register a CAGR of 5.7% in the forecast period.
Manufacturers in the global corneal ulcer treatment are primarily focussing on enhancing their regional product offering because they want to cater a larger patient audience. Medical researchers are constantly developing new and innovative strategies to tune treatments for corneal ulcer treatment.
Various novel treatment options are for bacterial keratitis, fungal keratitis is undergoing clinical trials. Increasing the number of R&D activities for developing new drugs for treatment is one of the important factors which is expected to grow in market in the forecasted years.
Awareness of proper usage of contact lenses is also an important factor because it is closely linked to corneal ulcer. Especially in countries like India, where majority of our population is into agricultural activities are likely to be prone to corneal ulcers. These following opportunities could fuel the demand for manufacturers to expand their units and increase the production of the treatment options in order to serve the growing patient audience.
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Antibiotics are primarily used to treat bacterial keratitis. With excessive use of antibiotics comes the alarming concern of antibiotic resistance. When many antibiotics are consumed to treat keratitis, micro-organisms can become resistant to that particular medication and in turn the infection will not be treated adequately. Hence there is a dire need of addressing this problem.
Various modern therapy options for corneal ulcer treatment are costly and are have limited availability. By hindering product acceptance, this prevents potential patient care as well as income generation. Natamycin, for example, is the primary anti-fungal medication for treating fungal keratitis, but it is quite expensive and in limited supply in developing countries. These factors could indeed hamper the growth of corneal ulcer treatment market in long term if not addressed.
The U.S. dominates the North American region with a total market share of over 87.3% in 2021, and is projected to continue experiencing high growth throughout the forecast period. The growth of this market is driven by the high number of people using contact lenses. Additionally, the growth in the country is also associated with increase in epidemiological data and rise in awareness about various treatment options.
U.K. is set to exhibit a CAGR of over 5.7% in the European corneal ulcer treatment market during the forecast period. U.K. is at the topmost leading position when it comes to R&D in Europe. Main driver for this market is that U.K. has sophisticated infrastructure and cutting edge technology which will help expedite the treatment development options for corneal ulcer.
China is projected to increase at a CAGR rate of 7% during the forecast period. The growth of the corneal ulcer treatment market in the country is attributed to the rising wave of innovation therapy strategies in the region of East Asia, with China as the prime contributor in the development industry for drugs to treat various infections as well as highest consumers of contact lens usage in eastern Asia.
India is set to witness an increase in CAGR of 6.7% during the forecast years. India has a higher incidence rate of corneal ulcer as compared to other south Asian countries hence this makes India a lucrative region for the local players to collaborate with giant players in the market and increase the manufacturing of various treatment options and enhancing their product portfolio.
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Drug class of antibiotics contributes about 76.4% of market share in 2021 and is expected to have a CAGR of 5.8% in the forecast period. The growth is associated with the ability of antibiotics to be fast acting, their low cost and their efficiency to act on a broad spectrum of bacteria especially its efficacy in treatment of corneal ulcer treatment compared to other drug classes.
Hospital pharmacies benefit the most in this segment with market share of more than 36% share in revenue and is expected to grow with a CAGR of 5.4% in the forecast period. They are the main components because the drugs used in treatment are easily available, they will have better access to medical records of patients and there will be increased interaction with health care professionals and treatment facilities.
Bacterial keratitis is in the lead as it is caused by normal opportunistic flora like Pseudomonas and Staphylococcus which can cause increase infection rate due to prolonged use of contact lenses, weak immune system. It has a valuation of U.S. $ 409.8 Mn in 2021 and is expected to increase with a CAGR of 5.8% in the forecast period.
Bacterial infections are the most likely cause of corneal ulcers and generalised drug therapy is available which is suitable for all. For example, USA has an incidence of 11 per 100,000 persons for microbial keratitis.
Tablets are a major driving component for increasing market growth and is expected to show a CAGR of 3.5% in the forecast years. Tablets are easy to administer, they have longer shelf life, they can accommodate a higher dose of active ingredient and they usually have a fast release mechanism.
The COVID-19 pandemic originally had a restrictive impact on growth of corneal ulcer treatment market. This impact was registered principally due to the guidelines published by different regulatory bodies, advising that patients getting treatment for non-urgent medical issues are at a greater risk of spread of COVID-19 infections.
The rise in the prevalence of infectious diseases, chronic diseases and the increasing disease burden over the globe due to the COVID-19 pandemic led to advancements in current treatment options as well as novel innovative therapy formation.
Leading corneal ulcer treatment manufacturers are focusing on geographical expansion to gain high revenue & expand their sales footprint in emerging countries by acquisition of local market players.
Strategic collaborations, acquisitions, expansion, product launches, agreements and research sponsorship are the key strategies adopted by manufacturers to increase the product sales in different geographies.
Similarly, recent developments related to companies manufacturing corneal ulcer treatment products have been tracked by the team at Future Market Insights, which are available in the full report.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2029 |
| Historical Data Available for | 2014 to 2021 |
| Market Analysis | US$ million for Value |
| Key Regions Covered | North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, Germany, UK, France, Italy, Spain, Russia, BENELUX, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Australia, New Zealand, North Africa, GCC Countries, Turkey and South Africa |
| Key Market Segments Covered | Drug class, Form, Indication, Route of administration, Distribution channel and Region |
| Key Companies Profiled |
|
| Pricing | Available upon Request |
By Drug class:
By Form:
By Route of Administration:
By Indication:
Acanthamoeba Keratitis:
The global corneal ulcer treatment market is worth US$ 817.94 Mn at present and is set to expand 1.5X times over the next seven years.
The corneal ulcer treatment market is expected to reach US$ 1.27 Bn by end of 2029 at a CAGR of 5.7%
The key trends for growth of corneal ulcer treatment include excessive usage of contact lens improving awareness about potential risk factors that cause corneal cancer, increasing investments in R&D and development of novel treatment therapies.
The key restraints affecting growth of corneal ulcer treatment include increase in prevalence of antibiotic resistance and the higher cost of drugs which are used in novel treatment of corneal ulcer.
The North American region has the highest market share of 26% by value in the global corneal ulcer treatment market.
Better corneal ulcer diagnosis, aided by unambiguous signs and symptoms, and, more crucially, established criteria, can result in huge revenue creation prospects. This opportunity will be most beneficial for growth in this market.
The U.S., China, Germany, Japan, and India are the top five countries which are expected to drive demand in corneal ulcer treatment market.
Pfizer Inc, Bayer AG, Allergen plc, Novartis AG,Teva Pharmaceutical Industries Ltd, Mallinckrodt Pharmaceuticals. Dr Reddy’s Pharmaceuticals. Sun Pharmaceutical Industries Ltd. Baxter International Inc., Fresenius Kabi are the key manufacturers in this market.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Key Market Trends 3.1. Key Trends Impacting The Market 3.2. Corneal Ulcer Treatment Therapy Adoption, By Region 4. Market Context 4.1. Disease Epidemiology 5. Global Corneal Ulcer Treatment Market Demand (Size in US$ Mn) Analysis 2014-2021 and Forecast, 2022-2029 in Value or 5.1. Historical Market Value (US$ Mn) Analysis, 2014-2021 5.2. Current and Future Market Value (US$ Mn) Projections, 2022-2029 5.2.1. Y-o-Y Growth Trend Analysis 5.2.2. Absolute $ Opportunity Analysis 6. Market Background 6.1. Macro-Economic Factors 6.2. Forecast Factors - Relevance & Impact 6.3. Market Dynamics 6.3.1. Drivers 6.3.2. Restraints 6.3.3. Opportunity Analysis 7. Global Corneal Ulcer Treatment Market Analysis 2014-2021 and Forecast 2022-2029, by Drug Class 7.1. Introduction / Key Findings 7.2. Historical Market Size (US$ Mn) Analysis By Drug Class, 2014-2021 7.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Drug Class, 2022-2029 7.3.1. Antibiotics 7.3.2. Antifungals 7.3.3. Antivirals 7.3.4. Anti-amoebic Drugs 7.3.5. Corticosteroids 7.3.6. NSAID 7.4. Market Attractiveness Analysis By Drug Class 8. Global Corneal Ulcer Treatment Market Analysis 2014-2021 and Forecast 2022-2029, by Form 8.1. Introduction / Key Findings 8.2. Historical Market Size (US$ Mn) Analysis By Form, 2014-2021 8.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Form, 2022-2029 8.3.1. Tablets 8.3.2. Eye Drops / Ointments 8.3.3. Vials 8.4. Market Attractiveness Analysis By Form 9. Global Corneal Ulcer Treatment Market Analysis 2014-2021 and Forecast 2022-2029, by Route of Administration 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ Mn) Analysis By Route of Administration, 2014-2021 9.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Route of Administration, 2022-2029 9.3.1. Oral 9.3.2. Topical 9.3.3. Injectable 9.4. Market Attractiveness Analysis By Route of Administration 10. Global Corneal Ulcer Treatment Market Analysis 2014-2021 and Forecast 2022-2029, by Indication 10.1. Introduction / Key Findings 10.2. Historical Market Size (US$ Mn) Analysis By Indication, 2014-2021 10.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Indication, 2022 - 2029 10.3.1. Bacterial Keratitis 10.3.2. Fungal Keratitis 10.3.3. Viral Keratitis 10.3.4. Acanthamoeba Keratitis 10.4. Market Attractiveness Analysis By Indication 11. Global Corneal Ulcer Treatment Market Analysis 2014-2021 and Forecast 2022-2029, by Distribution Channel 11.1. Introduction / Key Findings 11.2. Historical Market Size (US$ Mn) Analysis By Distribution Channel, 2014-2021 11.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Distribution Channel, 2022 - 2029 11.3.1. Hospital Pharmacies 11.3.2. Retail Pharmacies 11.3.3. Drug Stores 11.3.4. Online Pharmacies 11.4. Market Attractiveness Analysis By Distribution Channel 12. Global Corneal Ulcer Treatment Market Analysis 2014-2021 and Forecast 2022-2029, by Region 12.1. Introduction 12.2. Historical Market Size (US$ Mn) Analysis By Region, 2014-2021 12.3. Current Market Size (US$ Mn) Analysis and Forecast By Region, 2022 - 2029 12.3.1. North America 12.3.2. Latin America 12.3.3. Europe 12.3.4. East Asia 12.3.5. South Asia 12.3.6. Oceania 12.3.7. Middle East and Africa (MEA) 12.4. Market Attractiveness Analysis By Region 13. North America Corneal Ulcer Treatment Market Analysis 2014-2021 and Forecast 2022-2029 13.1. Introduction 13.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014-2021 13.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2022-2029 13.3.1. By Country 13.3.1.1. U.S. 13.3.1.2. Canada 13.3.2. By Drug Class 13.3.3. By Form 13.3.4. By Route of Administration 13.3.5. By Indication 13.3.6. By Distribution Channel 13.4. Market Attractiveness Analysis 13.5. Drivers and Restraints - Impact Analysis 14. Latin America Corneal Ulcer Treatment Market Analysis 2014-2021 and Forecast 2022-2029 14.1. Introduction 14.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014-2021 14.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2022-2029 14.3.1. By Country 14.3.1.1. Brazil 14.3.1.2. Mexico 14.3.1.3. Argentina 14.3.1.4. Rest of Latin America 14.3.2. By Drug Class 14.3.3. By Form 14.3.4. By Route of Administration 14.3.5. By Indication 14.3.6. By Distribution Channel 14.4. Market Attractiveness Analysis 14.5. Drivers and Restraints - Impact Analysis 15. Europe Corneal Ulcer Treatment Market Analysis 2014-2021 and Forecast 2022-2029 15.1. Introduction 15.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014-2021 15.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2022-2029 15.3.1. By Country 15.3.1.1. Germany 15.3.1.2. Italy 15.3.1.3. France 15.3.1.4. U.K. 15.3.1.5. Spain 15.3.1.6. BENELUX 15.3.1.7. Russia 15.3.1.8. Rest of Europe 15.3.2. By Drug Class 15.3.3. By Form 15.3.4. By Route of Administration 15.3.5. By Indication 15.3.6. By Distribution Channel 15.4. Market Attractiveness Analysis 15.5. Drivers and Restraints - Impact Analysis 16. South Asia Corneal Ulcer Treatment Market Analysis 2014-2021 and Forecast 2022-2029 16.1. Introduction 16.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014-2021 16.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2022-2029 16.3.1. By Country 16.3.1.1. India 16.3.1.2. Thailand 16.3.1.3. Indonesia 16.3.1.4. Malaysia 16.3.1.5. Rest of South Asia 16.3.2. By Drug Class 16.3.3. By Form 16.3.4. By Route of Administration 16.3.5. By Indication 16.3.6. By Distribution Channel 16.4. Market Attractiveness Analysis 16.5. Drivers and Restraints - Impact Analysis 17. East Asia Corneal Ulcer Treatment Market Analysis 2014-2021 and Forecast 2022-2029 17.1. Introduction 17.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014-2021 17.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2022-2029 17.3.1. By Country 17.3.1.1. China 17.3.1.2. Japan 17.3.1.3. South Korea 17.3.2. By Drug Class 17.3.3. By Route of Administration 17.3.4. By Indication 17.3.5. By Distribution Channel 17.4. Market Attractiveness Analysis 17.5. Drivers and Restraints - Impact Analysis 18. Oceania Corneal Ulcer Treatment Market Analysis 2014-2021 and Forecast 2022-2029 18.1. Introduction 18.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014-2021 18.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2022-2029 18.3.1. By Country 18.3.1.1. Australia 18.3.1.2. New Zealand 18.3.2. By Drug Class 18.3.3. By Form 18.3.4. By Route of Administration 18.3.5. By Indication 18.3.6. By Distribution Channel 18.4. Market Attractiveness Analysis 18.5. Drivers and Restraints - Impact Analysis 19. Middle East and Africa Corneal Ulcer Treatment Market Analysis 2014-2021 and Forecast 2022-2029 19.1. Introduction 19.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014-2021 19.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2022-2029 19.3.1. By Country 19.3.1.1. GCC Countries 19.3.1.2. South Africa 19.3.1.3. Rest of Middle East and Africa 19.3.2. By Drug Class 19.3.3. By Form 19.3.4. By Route of Administration 19.3.5. By Indication 19.3.6. By Distribution Channel 19.4. Market Attractiveness Analysis 19.5. Drivers and Restraints - Impact Analysis 20. Emerging Countries Corneal Ulcer Treatment Market Analysis 2014-2021 and Forecast 2022-2029 20.1. Introduction 20.1.1. Market Value Proportion Analysis, By Key Countries 20.1.2. Global Vs. Country Growth Comparison 20.2. China Corneal Ulcer Treatment Market Analysis 20.2.1. Introduction 20.2.2. Market Value Proportion Analysis by Market Taxonomy 20.2.3. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy 20.2.3.1. By Drug Class 20.2.3.2. By Form 20.2.3.3. By Route of Administration 20.2.3.4. By Indication 20.2.3.5. By Distribution Channel 20.2.4. China Corneal Ulcer Treatment Market - Competition Landscape 20.3. India Corneal Ulcer Treatment Market Analysis 20.3.1. Introduction 20.3.2. Market Value Proportion Analysis by Market Taxonomy 20.3.3. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy 20.3.3.1. By Drug Class 20.3.3.2. By Form 20.3.3.3. By Route of Administration 20.3.3.4. By Indication 20.3.3.5. By Distribution Channel 20.3.4. India Corneal Ulcer Treatment Market - Competition Landscape 20.4. Brazil Corneal Ulcer Treatment Market Analysis 20.4.1. Introduction 20.4.2. Market Value Proportion Analysis by Market Taxonomy 20.4.3. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy 20.4.3.1. By Drug Class 20.4.3.2. By Form 20.4.3.3. By Route of Administration 20.4.3.4. By Indication 20.4.3.5. By Distribution Channel 20.4.4. Brazil Corneal Ulcer Treatment Market - Competition Landscape 21. Market Structure Analysis 21.1. Market Concentration 21.2. Market Share Analysis of Top Players 21.3. Market Presence Analysis 21.3.1. By Regional Footprint of Players 21.3.2. Product Footprint by Players 21.3.3. Channel Footprint by Players 22. Competition Analysis 22.1. Competition Dashboard 22.2. Competition Benchmarking 22.3. Competition Deep Dive (Tentative List) 22.3.1. Pfizer Inc. 22.3.1.1. Overview 22.3.1.2. Product Portfolio 22.3.1.3. Sales Footprint 22.3.1.4. Analyst commentary 22.3.2. Allergan plc 22.3.2.1. Overview 22.3.2.2. Product Portfolio 22.3.2.3. Sales Footprint 22.3.2.4. Analyst commentary 22.3.3. Novartis AG 22.3.3.1. Overview 22.3.3.2. Product Portfolio 22.3.3.3. Sales Footprint 22.3.3.4. Analyst commentary 22.3.4. Bayer AG 22.3.4.1. Overview 22.3.4.2. Product Portfolio 22.3.4.3. Sales Footprint 22.3.4.4. Analyst commentary 22.3.5. Teva Pharmaceutical Industries Ltd. 22.3.5.1. Overview 22.3.5.2. Product Portfolio 22.3.5.3. Sales Footprint 22.3.5.4. Analyst commentary 22.3.6. Mallinckrodt Pharmaceuticals 22.3.6.1. Overview 22.3.6.2. Product Portfolio 22.3.6.3. Sales Footprint 22.3.6.4. Analyst commentary 22.3.7. Dr. Reddy’s Laboratories Ltd. 22.3.7.1. Overview 22.3.7.2. Product Portfolio 22.3.7.3. Sales Footprint 22.3.7.4. Analyst commentary 22.3.8. Sun Pharmaceutical Industries Ltd. 22.3.8.1. Overview 22.3.8.2. Product Portfolio 22.3.8.3. Sales Footprint 22.3.8.4. Analyst commentary 22.3.9. Baxter International Inc. 22.3.9.1. Overview 22.3.9.2. Product Portfolio 22.3.9.3. Sales Footprint 22.3.9.4. Analyst commentary 22.3.10. Fresenius Kabi 22.3.10.1. Overview 22.3.10.2. Product Portfolio 22.3.10.3. Sales Footprint 22.3.10.4. Analyst commentary 23. Assumptions and Acronyms Used 24. Research Methodology
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Corneal Ulcer Treatment Market
