The global epidemic keratoconjunctivitis treatment market is expected to garner a market value of USD 500 million in 2023 and is expected to accumulate a market value of USD 814.45 million by registering a CAGR of 5% in the forecast period 2023 to 2033. The market for Epidemic Keratoconjunctivitis Treatment registered a CAGR of 4% in the historical period 2018 to 2022.
The epidemic keratoconjunctivitis treatment market is a segment of the healthcare industry that deals with the effective management of epidemic keratoconjunctivitis. The epidemic keratoconjunctivitis treatment market offers a range of products and services for its effective management and treatment such as antiviral or steroid eye drops, as well as proper hygiene measures to prevent the spread of the virus. Treatment for EKC typically involves symptom management and reducing the spread of the virus to others.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 500 million |
| Anticipated Forecast Value (2033) | USD 814.45 million |
| Projected Growth Rate (2023 to 2033) | 5% CAGR |
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According to market research and competitive intelligence provider Future Market Insights- the market for Epidemic Keratoconjunctivitis Treatment reflected a value CAGR of 4% during the historical period, 2018 to 2022.
According to the USA General Population Cross-sectional Study, 2018, around 16 to 49 million Americans have a dry eye disease, accounting for 5% to 15% of the total population. The increasing incidence of Epidemic Keratoconjunctivitis have been reported in schools, offices, and public areas, as well as in institutional settings such as nursing homes and military training facilities. Various factors have been impacting the prevalence of Epidemic Keratoconjunctivitis such as the level of hygiene, the presence of contaminated objects, and the susceptibility of the individual. EKC outbreaks are most common in crowded areas, such as schools, nursing homes, and military training facilities.
In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for Epidemic Keratoconjunctivitis Treatment. In the years to come, increasing focus by government organizations and private agencies like WHO and pharmaceutical companies to create awareness of Epidemic Keratoconjunctivitis Treatments is fuelling the market growth. Thus, the market for Epidemic Keratoconjunctivitis Treatment is expected to register a CAGR of 5% in the forecast period 2023 to 2033.
Increased Prevalence of Epidemic Keratoconjunctivitis in Elderly Population to Push the Market Growth
The global market for epidemic keratoconjunctivitis treatment is primarily driven by the increasing prevalence of the disease, the development of new and effective treatment options, advancements in treatment technologies, development of new diagnostic technologies and the availability of more effective treatments. In addition, increased awareness of Epidemic Keratoconjunctivitis, especially amongst geriatric population which is at higher risk of Epidemic Keratoconjunctivitis, has led to a higher healthcare expenditure globally contributing to the growth of the market.
Furthermore, the prevalence of epidemic keratoconjunctivitis is high in low and middle-income countries, offering a significant market opportunity for companies to expand their product offerings. The prevalence of Epidemic Keratoconjunctivitis has increased in recent years due to factors such as increased international travel, urbanization, and the aging of the population, which is expected to drive demand for Epidemic Keratoconjunctivitis treatments.
Antiviral medications, Steroid Eye Drops, Proper Hygiene, Wearing Protective Eyewear are some of the effective measures of reducing the risk of Epidemic Keratoconjunctivitis and other eye infections.
Another factor driving the market is the increase in air pollution in many cities worldwide. A study published by the National Center for Biotechnology Information (NCBI) in 2016 found that the main causes of allergic conjunctivitis are air pollution and weather changes. This is because the conjunctiva is sensitive to environmental particles and has direct contact with the external environment. As a result, an increase in air pollution drives the growth of the global market.
Expensive Cost of Treatment to restrict Market Growth
The market is projected to get significantly affected by challenging factors such as limited availability and high cost of advanced Epidemic Keratoconjunctivitis Treatment options. Expensive treatments and related costs such as hospitalization, intensive care, or specialized diagnostic tests, is expected to hinder the market growth.
Furthermore, poor healthcare infrastructure, especially in developing countries, can limit access to Epidemic Keratoconjunctivitis treatment and the availability of diagnostic and therapeutic options.
Improvement in healthcare spending propelling growth of Epidemic Keratoconjunctivitis Treatment in Asia Pacific
The Asia Pacific is expected to exhibit the significant growth rate of all regions over the forecast period, with a revenue share of 25% during the forecast period. The growth is owed to increased awareness, significant increases in healthcare spending, and a rising frequency of the Epidemic Keratoconjunctivitis Treatment Market in the region. Asia Pacific is an emerging market due to the increase in point of care approach to health & care. Increasing number of hospitals in India and China makes a promising market for the market worldwide.
Increasing Prevalence of EKC Shaping Landscape for Epidemic Keratoconjunctivitis Treatment in North America
North America is anticipated to acquire a market share of about 40% in the forecast period. This growth is attributable to the rising prevalence of the condition in the region.
As per the National Library Medicine article published in February 2020, conjunctivitis affects more than 6 million people across the United States every year. Factors such as a large and aging population and increasing awareness about Epidemic Keratoconjunctivitis are leading to the growth of the market.
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Hospital Pharmacy to take the lead and drive market growth
According to the FMI analysis, Hospital pharmacy accounts for the largest market share. Hospital pharmacies have access to antiviral medications, such as acyclovir and trifluridine, which are essential for treating epidemic keratoconjunctivitis.
Furthermore, many hospital pharmacies are covered by insurance plans, which can help patients pay for the cost of their treatment, making it more accessible and affordable.
Key startups in the epidemic keratoconjunctivitis treatment market include-
Key players in the market include pharmaceutical companies such as Novartis International AG, Pfizer Inc, Johnson & Johnson, Roche Holding AG, Bausch + Lomb, Allergan plc, and Alcon, Inc. along with the healthcare providers and technology companies among other global players.
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 500 million |
| Market Value in 2033 | USD 814.45 million |
| Growth Rate | CAGR of 5% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Drug Class, Route of Administration, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Middle East & Africa; Oceania |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, India, Malaysia, Singapore, Thailand, China, Japan, South Korea, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Basilea Pharmaceuticals and Stiefel Laboratories; Renegeron; Sanofi S.A; LeoPharma; Japan Tobacco Inc.; Incyte Corporation; Asana Biosciences; AbbVie Inc.; Santen Pharmaceuticals Co. Ltd.; Jabs Biotech Pvt. Ltd. |
| Customization | Available Upon Request |
The expensive cost of treatment challenges the market growth.
Asia Pacific is expected to witness high growth in 2023.
Increased prevalence of conjunctivitis in the elderly population pushes the market growth.
From 2018 to 2022, the global market exhibited a 4% CAGR.
The increasing prevalence of EKC shaping landscape boosts the market in North America.
| Industry Size, 2024 | USD 6,128.2 million |
|---|---|
| Industry Size, 2034 | USD 12,282.4 million |
| Value CAGR (2024 to 2034) | 7.2% |
| Expected Market Value (2023) | USD 436.9 Million |
|---|---|
| Anticipated Forecast Value (2033) | USD 782.42 Million |
| Projected Growth Rate (2023 to 2033) | 6% CAGR |
| Market Value (2022) | USD 1825.8 Million |
|---|---|
| Market Anticipated Value (2032) | USD 3208.7 Million |
| Projected Growth Rate (2022 to 2032) | 5.8% |
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Epidemic Keratoconjunctivitis Treatment Market
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