Burlingame, March 02, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global eye inflammation treatment market is estimated to be valued at US$ 564.4 Million in 2022 and is expected to exhibit a CAGR of 5.8% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Eye Inflammation Treatment Market:
Key trends in market include increasing product approvals by regulatory bodies, increasing funding for the research and development of new treatment for eye disease, increasing prevalence of uveitis, etc.
Increasing product approval by regulatory authorities for the treatment of eye disease is expected to propel the growth of global eye inflammation treatment market, over the forecast period. For instance, on October 18, 2021, Oyster Point Pharma, Inc., a biopharmaceutical company, announced the approval for its brand Tyrvaya Nasal Spray, by the U.S. Food and Drug Administration. Tyrvaya (varenicline) is a selective cholinergic agonist that is delivered nasally for the treatment of dry eye disease symptoms. Tyrvaya Nasal Spray binds to cholinergic receptors to activate the trigeminal parasympathetic pathway causing in increased production of basal tear film as a treatment for dry eye disease.
Increasing funding for the research for the development of new treatment to treat eye inflammation disease by academic medical research centers is expected to drive the growth of global eye inflammation treatment market. For instance, according to article published by University of Nebraska Medical Center on March 4, 2022, National Institute of Health funded to the research team of University of Nebraska Medical Center for a program that looks on eye disease treatment. A researchers from University of Nebraska Medical Center (UNMC) are working in collaboration with other ophthalmologist from UNMC and discovers innovative treatments for eye inflammation disease i.e., suprachoroidal drug delivery.
Moreover, increasing prevalence of uveitis, a form of eye inflammation disease is expected to propel growth of the global eye inflammation treatment market over the forecast period. For instance, according to the study, ‘Epidemiology of uveitis in urban Australia’, published in April 2019 in the journal Clinical and Experimental Ophthalmology, the incidence of uveitis was 21.54 per 100,000 person per years in Australia. The period prevalence of the condition was 36.27 per 100,000 persons.
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Eye Inflammation Treatment Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2021 | Market Size in 2022: | US$ 564.4 Mn | |
| Historical Data for: | 2018 to 2020 | Forecast Period: | 2022 to 2030 | |
| Forecast Period 2022 to 2030 CAGR: | 5.8% | 2030 Value Projection: | US$ 888.5 Mn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | GSK plc., Alcon Laboratories Inc., Merck & Co. Inc., Alimera Sciences, Inc., AbbVie Inc., Teva Pharmaceutical Industries Ltd., Akron Pharma Inc., Intas Pharmaceuticals Ltd., Amgen Inc., Sanofi S.A., Johnson & Johnson Services Inc., Pfizer Inc., Macleods Pharmaceuticals Ltd., Mylan N.V., Bausch Health Companies Inc. | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Key Market Takeaways:
Compounds in clinical trials are expected to offer lucrative growth opportunities for players in the global eye inflammation treatment market over the forecast period. For instance, in June 2020, Tarsius Pharma, a clinical-stage biopharmaceutical company, completed patient enrollment in the company's Phase I/II trial of TRS01 in patients with active anterior non-infectious uveitis. Currently TRS01 is being evaluated further in a phase III trial.
Among regions, North America is expected to hold a dominant position in the global eye inflammation treatment market over the forecast period, owing to increasing initiative taken eye health and safety organization to spread the awareness about the inflammatory eye disease. For instance, according to article published on September 26, 2022 by Texas Retina Associates, Prevent Blindness, a volunteer eye health and safety organization, had declared September 26 – October 2, 2022, as Inflammatory Eye Disease Awareness Week.
Competitive Landscape:
Key players operating in the global eye inflammation treatment market include GSK plc., Alcon Laboratories Inc., Merck & Co. Inc., Alimera Sciences, Inc., AbbVie Inc., Teva Pharmaceutical Industries Ltd., Akron Pharma Inc., Intas Pharmaceuticals Ltd., Amgen Inc., Sanofi S.A., Johnson & Johnson Services Inc., Pfizer Inc., Macleods Pharmaceuticals Ltd., Mylan N.V., Bausch Health Companies Inc.
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Market Segmentation:
- Global Eye Inflammation Treatment Market, By Drug Class:
- Monoclonal Antibodies
- Antibiotics
- Corticosteroids
- Antivirals
- Antifungal
- Others (Analgesics, etc.)
- Global Eye Inflammation Treatment Market, By Dosage Form:
- Eye Drops
- Tablets
- Capsules
- Others (Ophthalmic Ointments, etc.)
- Global Eye Inflammation Treatment Market, By Distribution Channels:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Global Eye Inflammation Treatment Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- Australia
- India
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
- By Country:
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
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