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Allergic Conjunctivitis Market to Exhibit 5.4% CAGR and Reach $3.05 Billion by 2027; Massive Investments in Clinical Trials to Boost Growth

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Pune, Sept. 03, 2020 (GLOBE NEWSWIRE) — The global allergic conjunctivitis market size is projected to gain significant revenue in the coming years on account of the increasing awareness about availability of these drugs. As per a Fortune Business Insights report titled, “Allergic Conjunctivitis Market Size, Share & COVID-19 Impact Analysis, By Drug Class (Antihistamines & Mast Cell Stabilizers, Corticosteroids, and Others), By Disease Type (Mild, and Severe), By Distribution Channel (Hospital Pharmacies, Drug Stores & Retail Pharmacies, and Online Pharmacies), and Regional Forecast, 2020-2027” the value of this market was USD 2.50 billion in 2019 and is expected to rise at a CAGR of 5.4% to reach USD 3.05 billion by the end of 2027. The forecast period is set between 2020 and 2027.The report answers the following questions:What is the nature of the market?Who are the key players of this market and what are their major strategies?What is the impact of the COVID-19 pandemic on the market?What are the recent industry developments of the market?
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Drivers & Restraints
Rising Awareness about Availability of Drugs to Augment GrowthThe increasing patient pool for allergic conjunctivitis stands as a key factor propelling the global allergic conjunctivitis market growth. The increasing development of new treatment options, and massive investments on clinical trials will also boost the market. This coupled with the rise in air pollution levels in cities, and weather changes may further intensify the level of itchiness and accordingly worsen the condition, thereby boosting the market in the forecast period.On the contrary, most of the time this illness is ignored by patients and therefore they do not opt for medical assistance. Therefore, the lack of awareness and ignorance of people towards the treatment of this conjunctivitis may hamper the market in the coming years.Despite this, the presence of strong patient population and the rising awareness about the availability of various therapeutic drugs are likely to create lucrative growth opportunities for the market in the coming years.The COVID-19 pandemic has brought the world economy in a bad shape. Most of the businesses are temporarily shut with the imposition of stringent social distancing rules by the governments of various nations. However, intense research and development activities on the invention of an antidote to fight the novel coronavirus will soon help us come out of this situation altogether.The impact of COVID-19 pandemic on various markets have been discussed in detail and provided in the form of analytical reports by Fortune Business Insights. These reports will help investors study the market and its trajectories and accordingly invest in the future.
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Segmentation-Antihistamines & Mast Cell Stabilizers Segment to Gain Dominance Owing to its High AdoptionAmong all drug class, the antihistamines & mast cell stabilizers segment earned the highest share on account of its high adoption rate, further attributed to their diagnostic efficiency. In 2019, this segment earned an allergic conjunctivitis market share of 77.4%Regional Analysis-North America Dominated Market Owing to Prevalence of Allergic Conjunctivitis Among all regions, North America emerged dominant owing to the strong prevalence of this conjunctivitis in the region, coupled with the increasing healthcare infrastructure and facilities. In 2019, this region earned USD1.20 billion owing to the presence of major vendors and the availability of supportive reimbursement policies.
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Competitive Landscape-Bausch & Lomb, Allergan, and Alcon Hold Significant Shares Owing to Strong PortfolioThe nature of the global allergic conjunctivitis market is perfectly competitive in nature owing to the presence of small, medium, and large players. Currently, companies such as Alcon, Bausch & Lomb, and Allergan are currently holding the major shares. This is attributable to the strong product portfolio. The other players are focusing on getting product approvals and launching new products to gain a competitive edge in the market competition.Industry DevelopmentsFebruary 2020 – The first ever and only eye drop to provide all day relief from allergic itches was launched by Alcon in the name of Pataday Once Daily Relief.July 2020 – A new drug molecule for treating allergic conjunctivitis was introduced by Eyevance Pharmaceuticals LLC in the name of Cetirizine ophthalmic solution. List of the Leading Companies Profiled in the Allergic Conjunctivitis Market Research Report are:Santen Pharmaceutical Co., Ltd. (Osaka, Japan)Alcon (Geneva, Switzerland)Eyevance Pharmaceuticals LLC (Forth Worth, U.S.)Ocular Therapeutix, Inc. (Bedford, U.S.)Allergan (AbbVie Inc.) (Dublin, Ireland)Bausch & Lomb (Laval, Canada)Novartis AG (Basel, Switzerland)Sun Pharmaceutical Industries Ltd. (Mumbai, India)Eton Pharmaceutical (Deer Park, U.S.)Others
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Table of Contents:IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsPrevalence of Allergic Conjunctivitis – By Key CountriesPipeline AnalysisKey Industry DevelopmentsNew Product LaunchesImpact of COVID-19 on the Allergic Conjunctivitis MarketAllergy – Statistics and FactsGlobal Allergic Conjunctivitis Market Analysis, Insights and Forecast, 2016-2027Key Findings / SummaryMarket Analysis, Insights and Forecast – By Drug ClassAntihistamines & Mast Cell StabilizersCorticosteroidsOthersMarket Analysis, Insights and Forecast – By Disease TypeMild Allergic ConjunctivitisSevere Allergic ConjunctivitisMarket Analysis, Insights and Forecast – By Distribution ChannelHospital PharmaciesDrug Stores & Retail PharmaciesOnline PharmaciesMarket Analysis, Insights and Forecast – By Region North America Europe Asia Pacific Latin America Middle East & AfricaTOC Continued….!

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