The global Keratitis Treatment Market is expected to surpass an impressive valuation of USD 789.89 million in 2023 and is projected to exhibit a CAGR of 6% from 2023 to 2033.
The rising incidence of contagious diseases is driving the keratitis treatment market. The disease becomes more prevalent as the temperature goes up.
Furthermore, it has been discovered to be common in tropical regions, so a rise in global temperature influences the incidence of keratitis, thereby propelling the market.
Despite being treatable, this is the most prevalent trigger of corneal blindness caused by an infection in the United States. In the United States, the incidence of neurotrophic keratitis (NK) varies from 56 to 67 cases per 100,000 individuals.
The disease is spreading as a result of poor sanitary conditions in developing nations. Wearing contact lenses while swimming is another aspect that is ramping up contamination in the eye, which is contributing to the expansion of the keratitis treatment market.
In advanced economies, such as North America, modernization and contact lens use are the most common causes of keratitis. Individuals living in developing countries remote regions are likely to be affected by the disease because they lack access to healthcare providers due to low revenues.
The Asia Pacific market is projected to expand owing to the rapid boost in the number of educational campaigns and the citizenry affected by fungal keratitis. Furthermore, approaches by governments in the region to improve medical facilities for the community aid in the expansion of fungal keratitis treatment.
The usage of new medicines and R&D in regions such as Asia Pacific and Latin America is also expected to fuel business growth over the coming years.
According to the latest report by News Medical Life Sciences, roughly 25,000 individuals in the United States develop bacterial keratitis every year.
The prevalence varies around the world, but it is more common in industrialized nations owing to the significantly greater number of individuals who wear contact lenses, which raises the likelihood of the ailment.
Acanthamoeba keratitis is an exceedingly rare but fatal eye infection another type of this disease. Experts predict that 1 to 33 trusted Source contact lens-wearing people per million in developed nations are affected each year
The global demand for keratitis treatment is being influenced by increasing medical spending. Moreover, there have been few advancements in keratitis treatment, limiting sales growth. With major investments, the keratitis treatment market provides the opportunity to detect coronary eye disease and retains a good perception throughout the coming years.
Also, the disease is spreading as a result of poor sanitary conditions in developing nations. Wearing contact lenses while swimming is another aspect contributing to increased contamination in the eye, which itself is fuelling the expansion of the keratitis treatment market.
According to reports, researchers created a nanoparticle-based drug delivery system that enhances drug retention time by aligning the cornea, decreasing inflammation, and releasing anti-fungal medication in response to external factors.
Infected eyes show substantially greater corneal longevity, lowered in?ammatory, and infection resolution. Such research breakthroughs have produced numerous continuous innovations of extremely effective drugs against different keratitis ailments, resulting in the bulk of investors preferring to invest in R&D and contribute to the growing market.
Considering the aforementioned facts and figures, the market is projected to exhibit a good rate of growth.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 789.89 Million |
| Anticipated Forecast Value (2033) | USD 1,499.45 Million |
| Projected Growth Rate (2023 to 2033) | 6% CAGR |
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During the initial phase of 2020, a restrictively monitored public health strategy comprised of travel restrictions and overall closures was incorporated on a large scale. Nevertheless, a slew of consequences was unavoidable.
Minimizing doctor visits and consequently decreasing prescriptions were two of the most common methods for limiting the spread of COVID-19. Regardless of the fact that a number of drugs have been licensed for sale in the keratitis treatment market, production was impeded due to the pandemic in historical decades.
From 2017 to 2022, sales witnessed significant growth, registering a CAGR of 5.1%.
As the number of people who use contact lenses grows, so does the incidence of keratitis. The most typical risk factors for infection include the wearing of contact lenses, linked poor hygiene, and exposure to amoeba-infested waterways.
As a result of the factors mentioned, it is definite that the prevalence of keratitis is rising, which is expected to aid in the expansion of the researched market during the coming decades.
The growing prevalence of keratitis and product development propels growth of the market
The increasing prevalence of fungal keratitis and product innovation are predicted to propel the expansion of the fungal keratitis treatment market.
Scientists found the average worldwide prevalence of fungal keratitis to be around one million cases, with 8% to 11% of patients losing an eye, based on the article "Global Epidemiology of Fungal Keratitis and Its Outcomes" released in January 2021.
Trauma, contact lens utilization, topical corticosteroid use, Diabetes mellitus, and low socioeconomic background are all major risk factors for fungal keratitis. The most frequent risk factor for fungal keratitis is unquestionably unintended ocular trauma.
Topical Drugs Expected to Propel Growth Rate in the industry
The most frequently used medications for the treatment of fungal keratitis are topical antifungals, which are either widely viable or exacerbated from systemic preparations into eye drops. Natamycin is the only FDA-approved topical antifungal remedy for fungal keratitis.
With increasing technological developments and trials, new effective drug delivery systems like drug-eluting contact lenses are gaining popularity. The topical route of management, on the other hand, is predicted to expand significantly over the period due to the creation of new topical formulations as the solely authorized medicine for fungal keratitis.
Poor reimbursement scenarios and high costs hamper the market growth
Non-favorable reimbursement scenarios in emerging and underdeveloped economies, on the other hand, will pose a significant threat to industry growth.
Treatment for this ailment either alters the eye or its operation or increases the rate of market expansion. The high costs incurred with the prolonged usage of topical eye gels and drops might further deter overall growth.
North America to dominate the Keratitis Treatment Market
Since rising keratitis scenarios and the latest developments in keratitis treatment, North America is predicted to lead the keratitis treatment market.
Due to a large number of keratitis patients and other prolonged eye diseases, as well as soaring expenditure on research and development the United States is anticipated to overtake the total keratitis treatment market in the North American region across the forecast timeframe.
Fungal keratitis is quite prevalent in warm and moist areas of the United States. According to a research released in October 2020 titled "The global incidence and diagnosis of fungal keratitis," the southern part of the United States has a greater incidence of keratitis than other regions.
Asia-Pacific to emerge as the industry’s second-largest region
Asia-Pacific is the second most important region, with a market worth USD 200 million in 2021 and a CAGR of 7.1%. This is due to increasing healthcare system infrastructure construction costs and a growing geriatric population.
Besides that, favorable trial results may lead to a new diagnosis, which is likely to accelerate market growth in the coming timeframe.
Aravind Eye Care System in India, for instance, was conducting a randomized control trial with topical anti-fungal treatment in 2021 to evaluate the graphic and clinical results of collagen cross-linking in keratitis.
The study's goal is to determine the function of corneal cross-linking in the preventative measures of perforation and the advancement of the treatment regimen in non-resolving fungal keratitis. As a consequence of the aforementioned components, the researched market is likely to contribute to industry growth in Asia Pacific.
Asia Pacific has a large number of Infectious keratitis patients
Infectious keratitis is the fifth leading reason of blindness worldwide. Contact lens wear, eye injury, and retinal disease are the main risk factors. In Asia, where infectious keratitis is a threat to public health, the situation is drastically different.
These countries are having barriers to treatment, poor health metrics, and a larger portion of laborers in agriculture activities, with occurrences as elevated as 113 per 100,000 in Madurai, Tamil Nadu, India. As a result, the infectious keratitis segment is expected to grow significantly in the upcoming years.
Prominent start-up players in the keratitis treatment market sector are introducing novel and innovative product lines to strengthen their market presence, and the aforementioned start-ups have left no stone unturned.
The following are some specific examples of significant keratitis treatment market start-ups:
Key players in the Keratitis Treatment market are Alvogen, Bausch health Companies Inc, Gilead Biosciences Inc, Glenmark Pharmaceuticals, Leadiant Biosciences, Merck & Co. Inc., Aurolab, Eyevance Pharmaceuticals LLC, Pfizer Inc, Novartis AG. Some of the latest developments by key players are below
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 789.89 Million |
| Market Value in 2033 | USD 1,499.45 Million |
| Growth Rate | CAGR of 6% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2017 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 | Keratitis Types, Treatment, End Users, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East & Africa |
| 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 | Alvogen; Bausch Health Companies Inc.; Gilead Biosciences Inc.; Glenmark Pharmaceuticals; Leadiant Biosciences; Merck & Co. Inc.; Aurolab;Eyevance Pharmaceuticals LLC; Pfizer Inc.; Novartis AG |
| Customization | Available Upon Request |
The market is set to reach USD 1,499.45 million by 2033.
A CAGR of 5.1% was observed in the market from 2017 to 2022.
Alvogen, Bausch Health Companies Inc., and Gilead Biosciences Inc.
By 2033, the market is projected to register a value CAGR of 6%.
North America is expected to lead the market.
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Keratitis Treatment Market
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