Global Fungal Keratitis Treatment Market Set to Experience Significant Growth USD 1.0 Billion by 2033 at a CAGR of close to 5.9%

Fungal Keratitis Treatment Market
Fungal Keratitis Treatment Market

The global fungal keratitis treatment market is on a robust growth trajectory, with projections indicating a rise from USD 571.7 million in 2023 to an impressive USD 1.0 billion by 2033. This significant growth forecast is supported by a detailed analysis from Future Market Insights (FMI), highlighting a substantial uptrend in the sector.

Polyenes, a key pharmacological class in the treatment of fungal keratitis, commanded approximately 45.1% of the global market share in 2022. Looking ahead, polyenes are expected to maintain their dominance with a strong compound annual growth rate (CAGR) of nearly 5.9% from 2023 to 2033. This underscores their critical role in the expanding fungal keratitis treatment landscape.

The surge in the market can be attributed to several factors, including heightened awareness about the importance of early diagnosis and treatment. Increased public and medical community awareness is driven by the rising incidence of fungal keratitis, its potential to cause severe vision impairment, and advancements in medical expertise and technology.

Get your Sample Report Fungal Keratitis Treatment Market…

Eye care professionals now have access to improved diagnostic tools, such as confocal microscopy and molecular testing, which allow for more accurate and rapid identification of the causative fungi. This enables healthcare providers to initiate appropriate treatment sooner, improving the chances of successful outcomes and reducing the risk of severe complications.

The growing awareness about the importance of early diagnosis and treatment in the fungal keratitis treatment market is a positive development that reflects the increasing concern about eye health. The rising prevalence of fungal keratitis and its potential sight-threatening consequences have highlighted the need for timely intervention. Advancements in medical knowledge and technology, along with public awareness campaigns, have further contributed to the emphasis on early diagnosis and treatment.

Key Takeaways from Market Study:

  • By drug class, polyenes accounted for 1% of the total market share in 2022. The most well-known and commonly used polyene antifungal drug for treating fungal keratitis is Amphotericin B. It’s effective against a wide range of fungal species and is often used in severe or difficult-to-treat cases of fungal keratitis.
  • By drug formulation, eye drops accounted for 6% of the total market share in 2022. For the treatment of fungal keratitis, antifungal medications can be formulated into eye drops to directly target the infection in the eye. The dominant drug formulation used in this case is the incorporation of antifungal agents into eye drop solutions.
  • By indication, superficial keratitis accounted for 5% of the total market share in 2022. Superficial fungal keratitis, which affects the outer layers of the cornea is important to be treated promptly to prevent progression to more serious forms of keratitis.
  • By age group, 40-64 years accounted for 1% of the total market share in 2022 due to high prevalence of fungal keratitis within this age group.
  • Considering the distribution channel, institutional sales accounted for around 1% of the global market share in 2022. The institutional sales is expected to experience rapid growth between 2023 and 2033, driven by medical advancements, and collaborations between pharmaceutical firms and healthcare facilities.
  • North America dominated the global market with the United States contributing around USD 110.7 Million in 2022 due to its advanced healthcare infrastructure, high prevalence of infectious diseases, strong regulatory framework, and significant investment in research and development.

“Improved fungal keratitis diagnostics, medication delivery systems, and individualized therapies to meet patient and healthcare professionals’ demands to boost the market” says an analyst of Future Market Insights.

Market Competition:

Leading players are either undertaking new product launches or divestiture of their products to maintain their foothold in the global market.

  • In July 2023, AbbVie and Calibr collaborated to advance preclinical and early-stage clinical assets in immunology, oncology, and neuroscience, providing research option payments over five years for therapeutic programs.
  • In June 2023, Bausch Health acquired XIIDRA®, a non-steroid eye drops for treating dry eye disease, from Novartis, accreting to Bausch + Lomb, a global pharmaceutical company specializing in gastroenterology, hepatology, neurology, dermatology, and eye health.

Full Report Awaits – Elevate Your Business Strategy Instantly

Key Companies Profiled:

  • Novartis AG
  • Eyevance Pharmaceuticals, LLC (Santen Holdings United States Inc.)
  • AbbVie Inc.
  • Pfizer Inc.
  • Merck and Co. (Merck KGaA)
  • Bausch Health Companies Inc.
  • Cipla Inc.
  • Wellona Pharma
  • LEXICARE PHARMA PVT. LTD
  • Salvus Pharma

Key Market Segments Covered in the Fungal Keratitis Treatment Industry Research:

By Drug Class:

  • Polyenes
    • Natamycin
    • Amphotericin B
  • Azoles
    • Triazole
      • Fluconazole
      • Voriconazole
      • Posaconazole
      • Itraconazole
    • Imidazoles
      • Econazole
      • Miconazole
      • Ketoconazole
  • Flucytosine
  • Echinocandins
    • Capsofungin
    • Micafungin
  • Terbinafine

By Drug Formulation:

  • Tablets
  • Eye Drops
  • Ophthalmic Ointments
  • Subconjunctival Injections

By Indication:

  • Superficial Keratitis
  • Deep Keratitis

By Age Group:

  • 0-18 Years
  • 18-39 Years
  • 40-64 Years
  • 65 Years and Above

By Market Status:

  • Rx
  • OTC (Over The Counter)

By Distribution Channel:

  • Institutional Sales
    • Hospitals
    • Ophthalmic Clinics
  • Retail Sales
    • Retail Pharmacies
    • Drug Stores
    • E-Commerce/Mail Order Pharmacies

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa

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.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: 
sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedInTwitterBlogs | YouTube

About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like these