The global Vernal Keratoconjunctivitis Market is expected to garner a market value of USD 436.9 Million in 2023 and is expected to accumulate a market value of USD 782.42 Million by registering a CAGR of 6% in the forecast period 2023 to 2033.
One of the reasons driving the global market over the projection period is the rising incidence of conjunctivitis in emerging nations. The market for Vernal Keratoconjunctivitis registered a CAGR of 4% in the historical period 2017 to 2022.
Clinical examinations and procedures are carried out to diagnose the condition, which aids medical professionals in making additional decisions about medicine, testing, and recuperation and is expected to accelerate market expansion throughout the projection period.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 436.9 Million |
| Anticipated Forecast Value (2033) | USD 782.42 Million |
| Projected Growth Rate (2023 to 2033) | 6% CAGR |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
According to market research and competitive intelligence provider Future Market Insights- the market for Vernal Keratoconjunctivitis reflected a value of 4% during the historical period, 2017 to 2022.
According to the NCBI article published in August 2021, conjunctivitis can manifest in COVID-19-infected people. Thus, the increasing prevalence of conjunctivitis during the pandemic had the potential to drive the demand for the market.
However, the relaxation of strict lockdowns started to contribute to the increase in the patient inflow for vernal keratoconjunctivitis treatment, adding to the growth of the market. Thus, the market for Vernal Keratoconjunctivitis is expected to register a CAGR of 6% in the forecast period 2023 to 2033.
Increasing incidence of Vernal Keratoconjunctivitis disease to push the market growth
The increasing prevalence of Vernal Keratoconjunctivitis disease is one of the biggest drivers of the market. As per the Nature article published in April 2022, approximately 10% of the sample population had allergic conjunctivitis. In India, the prevalence of allergic conjunctivitis was 12.22% among those aged between five and 15 years.
Also, the NCBI article published in January 2021 mentioned that more than half of the patients report daily symptoms as seasonal or perennial and around 75% consider their symptoms to be severe. The same source also mentioned that there were between 1.2 and 10.6 cases of vernal keratoconjunctivitis per 10,000 individuals in Europe.
With the increasing prevalence and awareness of ocular allergies has significantly increased owing to several factors such as faster urbanization and a growing number of allergens.
Treatment for vernal keratoconjunctivitis includes oral or over-the-counter (OTC) drugs that reduce the release of histamine. Also, anti-inflammatory or anti-inflammation eye drops are available quickly and are found to relieve acute conjunctivitis. Hence, this segment is expected to witness steady growth during the forecast period.
Principal Consultant
Expensive Cost of Treatment to restrict Market Growth
The expensive treatment of Vernal Keratoconjunctivitis, less awareness of Vernal Keratoconjunctivitis disease, and insubstantial treatment options are hampering the market growth.
The global conjunctivitis market is anticipated to be constrained by factors such as low illness awareness and inadequate pharmaceutical coverage in developing nations.
Improvement in healthcare spending propelling the growth of Vernal Keratoconjunctivitis in Asia Pacific
The Asia Pacific is expected to exhibit the fastest growth rate of all regions over the forecast period, with a CAGR of 5% during the forecast period.
The growth is owed to increased awareness, significant increases in healthcare spending, and a rising frequency of ocular allergies in the region. Conjunctivitis is quite prevalent in nations like India.
For instance, the state of Tamil Nadu reported a viral conjunctivitis issue among students and workers at schools. Clinical Epidemiology and Global Health, for instance, estimated that 12.22% of Indians suffer from ocular allergies.
The male segment is projected to have a higher prevalence (13.44%) than females (10.71%). During the projected period, these trends are anticipated to support market expansion in the region.
In addition to these factors, an increase in the frequency of infections, poor hygienic conditions in developing nations, and protracted deliveries in several of the region's countries, the Asia Pacific region is anticipated to have the third-largest share. In addition, it is anticipated that the expanding medical tourism sector in nations like Malaysia, China, and India would increase demand for treatment.
Over the anticipated time, these factors will boost market expansion in the region.
High prevalence of ophthalmic allergies shaping the landscape for Vernal Keratoconjunctivitis in North America
North America is anticipated to acquire a market share of about 20% in the forecast period. This growth is attributable to the increasing awareness of ophthalmic allergies. This, coupled with the existence of majority players, which leads to novel and advanced drug launches, and the robust spread of this disease, are factors attributing to the market's growth.
A country like the United States has a major presence of positive reimbursement policies, and this is the key reason for this region's dominance in this market.
As per the National Library Medicine article published in February 2020, conjunctivitis affects more than 6 million people across the United States every year. The estimated cost for the disease is around USD 377 million to USD 857 million per year. Conjunctivitis is found to be the most frequent disease in the country and affects 15% to 40% of the population, and is seen frequently in spring and summer.
Such prevalence of conjunctivitis in the United States is pushing the demand for an effective treatment, thereby contributing to the market's growth during the forecast period.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The superior efficiency of tablet consumption bolsters the growth
On the basis of treatment, the segment has been divided into gel, ointment, tablets, and others. The tablets are widely used by patients suffering from vernal keratoconjunctivitis which is further triggering the market growth.
Owing to an increased usage of these tablets in the treatment, as they help in the faster recovery of the disease, players are focussing on launching new and sophisticated products.
Key start-up players in the Vernal Keratoconjunctivitis market are-
Key players in the Vernal Keratoconjunctivitis market are Allakos, iCo Therapeutics, Akari Therapeutics, and Santen.
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 436.9 Million |
| Market Value in 2033 | USD 782.42 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 | Treatment, Drug type, Dosage Form, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East & Africa (MEA) |
| Key Countries Profiled | The USA, Canada, Brazil, Argentina, Germany, The UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, Association of Southeast Asian Nations, GCC, South Africa |
| Key Companies Profiled | Allakos; iCo Therapeutics; Akari Therapeutics; and Santen |
| Customization | Available Upon Request |
From 2017 to 2022, the Vernal Keratoconjunctivitis market grew at a CAGR of 4%.
The global Vernal Keratoconjunctivitis market is expected to grow with a 6% CAGR from 2023 to 2033.
As of 2033, the Vernal Keratoconjunctivitis market is expected to reach USD 782.42 Million
According to the FMI analysis, Hospital pharmacies account for the largest market share.
Tablets are expected to show the highest CAGR owing to the increasing demand for new approaches.
North America is expected to possess a 20% market share for the Vernal Keratoconjunctivitis market.
The Asia Pacific market is predicted to increase significantly throughout the forecast period, with a CAGR of 5% during the forecast period.
1. Executive Summary | Vernal Keratoconjunctivitis Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Drug Type 5.1. Bertilimumab 5.2. Verkazia 5.3. Lodoxamide 5.4. Tacrolimus 5.5. Antolimab 5.6. Nomacopan 5.7. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Treatment 6.1. Mast Cell Stabilizers 6.2. Antihistamines 6.3. Nonsteroidal Anti-inflammatory Drugs - NSAIDs 6.4. Topical Corticosteroids 6.5. Cyclosporine 6.6. Tacrolimus 6.7. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Dosage Form 7.1. Gel 7.2. Ointment 7.3. Tablet 7.4. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 8.1. Hospital Pharmacy 8.2. Retail Pharmacy 8.3. Online Pharmacy 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. Middle East & Africa (MEA) 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Santen 17.2. Novartis Pharmaceuticals 17.3. Senju Pharmaceutical 17.4. Allakos 17.5. iCo Therapeutics 17.6. Akari Therapeutics 17.7. Alcon Vision LLC 18. Assumptions & Acronyms Used 19. Research Methodology
Explore Healthcare Insights
View Reports
Vernal Keratoconjunctivitis Market
