The global vernal keratoconjunctivitis market is on the verge of significant expansion, with market projections indicating a substantial increase from USD 436.9 million in 2023 to an impressive USD 782.42 million by 2033. This promising growth trajectory is driven by an expected Compound Annual Growth Rate (CAGR) of 6% over the forecast period from 2023 to 2033.
Vernal keratoconjunctivitis, a condition characterized by inflammation of the conjunctiva and cornea, is witnessing an upsurge in demand for effective treatments worldwide. The rising incidence of conjunctivitis, particularly in emerging nations, is a key factor propelling the market’s growth. The historical period from 2017 to 2022 saw the vernal keratoconjunctivitis market grow at a steady CAGR of 4%, setting a solid foundation for the forecasted expansion in the next decade.
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This significant increase in market value underscores the growing need for effective treatments and therapies for vernal keratoconjunctivitis, a condition that can significantly impact individuals’ quality of life.
Key market players are focusing on research and development initiatives to introduce innovative treatments, thereby addressing the unmet medical needs of patients worldwide. Furthermore, strategic collaborations and partnerships are expected to drive market growth by facilitating the development and commercialization of novel therapies.
As the vernal keratoconjunctivitis market continues to expand, stakeholders across the healthcare sector are encouraged to invest in advanced research, development, and commercialization efforts to meet the rising demand for effective treatments and improve patient outcomes.
Key Takeaways from the Market Study:
- From 2017-2022, the Vernal Keratoconjunctivitis market grew at CAGR of 4%.
- The global Vernal Keratoconjunctivitis market is expected to grow with a 6% CAGR during 2023-2033.
- 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 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.
“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.” says an FMI analyst
Market Competition:
Key players in the Vernal Keratoconjunctivitis market are
- Allakos
- iCo Therapeutics
- Akari Therapeutics
- Santen
In March 2022, Visus Therapeutics Inc. announced the launch of the first of two pivotal phases 3 trials (BRIO-I and BRIO-II) for its lead asset, BRIMOCHOL PF, a topical preservative-free ophthalmic solution for treating presbyopia.
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Key Segments Profiled in the Vernal Keratoconjunctivitis Industry Survey:
Treatment:
- Mast Cell Stabilizers
- Antihistamines
- Nonsteroidal Anti-inflammatory Drugs – NSAIDs
- Topical Corticosteroids
- Cyclosporine
- Tacrolimus
- Others
Drug Type:
- Bertilimumab
- Verkazia
- Lodoxamide
- Tacrolimus
- Antolimab
- Nomacopan
- Others
Dosage form:
- Ointment
- Gel
- Tablets
- Others
Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
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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