The global keratitis treatment market is anticipated to reach a remarkable valuation of over USD 789.89 million by 2023, with a projected Compound Annual Growth Rate (CAGR) of 6% from 2023 to 2033. The market is set to reach USD 1,499.45 million by 2033. This surge is attributed to various factors, including the rising incidence of contagious diseases, particularly in regions experiencing warmer temperatures and tropical climates.
Keratitis, a common trigger of corneal blindness caused by infection, is significantly impacting healthcare systems globally. In the United States alone, the incidence of neurotrophic keratitis (NK) ranges from 56 to 67 cases per 100,000 individuals annually. The disease’s prevalence is exacerbated by poor sanitary conditions in developing nations and the practice of wearing contact lenses while swimming, which increases the risk of contamination and infection.
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The Asia Pacific market, in particular, is expected to witness significant growth due to educational campaigns and governmental initiatives aimed at improving medical facilities. Additionally, advancements in research and development are fueling the development of new treatments, further boosting market growth.
Despite challenges such as limited advancements in treatment options, significant investments in the keratitis treatment market offer promising opportunities for innovation and detection of ocular diseases.
Key Takeaways from the Market Study:
- Sales increased significantly from 2018 to 2022, with a CAGR of 5.1%.
- The average global prevalence of fungal keratitis was found to be about one million cases, with 8% to 11% of patients losing an eye.
- With a market worth USD 200 million in 2021, Asia-Pacific is the second largest region.
- The Asia-Pacific market is projected to expand at a 6.3% CAGR.
- The global Keratitis Treatment market is predicted to be worth USD 1,499.45 million.
“Keratitis is becoming more prevalent as the number of individuals who wear contact lenses increases. The most common risk factors for infection are contact lens use, associated poor hygiene, and exposure to amoeba-infested waterways” says FMI’s analyst.
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Key Market Players:
- Alvogen
- Bausch Health Companies Inc.
- Gilead Biosciences Inc.
- Glenmark Pharmaceuticals
- Leadiant Biosciences
- Merck & Co. Inc.
- Aurolab
- Eyevance Pharmaceuticals LLC
- Pfizer Inc.
- Novartis AG
Recent Development:
- Pfizer Inc. finished the contract to spin off its Upjohn Business and integrate it with Mylan N.V. to form Viatris Inc. in November 2020.
- Bausch Health Companies Inc. reached an agreement in September 2020 to procure an opportunity to buy all of Allegro Ophthalmics’ ophthalmology resources.
Key Segments Profiled in the Keratitis Treatment Industry Survey:
By Keratitis Types:
- Noninfectious Keratitis
- Infectious Keratitis
- Bacterial Keratitis
- Fungal Keratitis
- Viral Keratitis
- Acanthamoeba Keratitis
By Treatment:
- Topical Antibiotics
- Antifungals
- Antiviral
- Biocides
By End Users:
- Hospitals
- Specialty Clinics
By Region:
- North America
- Europe
- East Asia
- South Asia
- Oceania
- Latin America
- Middle East and Africa
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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