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The allergy relieving eye drops market size is forecast to increase by USD 373.2 million, at a CAGR of 4.5% between 2023 and 2028. The market is experiencing significant growth, driven by the high prevalence and incidence of eye infections and allergies worldwide. According to the American Academy of Ophthalmology, allergic conjunctivitis affects an estimated 10-30% of the population, making it a common condition requiring effective treatment. The market is also fueled by the growing adoption of generic eye drops, which offer cost-effective alternatives to branded products. However, the side effects associated with antibiotics and corticosteroids, commonly used in eye drops, pose a challenge to market growth. These side effects include increased intraocular pressure, cataract formation, and glaucoma. To mitigate these challenges, manufacturers are focusing on developing innovative, safe, and effective allergy-relieving eye drops using natural ingredients and advanced delivery systems.
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Allergies often lead to allergic conjunctivitis, characterized by itchiness, red eye, and inflammation. During pollen season, antihistamine medications and mast cell stabilizers like ketotifen can help manage allergic reactions. Over-the-counter and nonprescription treatments, such as eye ointments and artificial tears, provide relief. However, it's crucial to distinguish between allergic conjunctivitis and viral conjunctivitis, the latter being contagious and often caused by a viral infection. Keratitis, another eye condition, involves inflammation of the cornea and can be caused by infections, injuries, or contact lens misuse, potentially complicating symptoms if not properly treated. For those wearing contact lenses, special care is needed to avoid exacerbating symptoms. If symptoms persist, seeking medical help is advisable. Antibacterial options may be necessary if there's a risk of secondary infection, but pollen season is generally managed with over-the-counter remedies. Understanding these options ensures better vision and comfort, mitigating the impact of these common medical conditions. In addition to addressing individual health issues, maintaining an effective supply chain for medical products and treatments is vital. This ensures that necessary medications and remedies are readily available to those in need, contributing to overall public health and effective management of eye conditions.
The high prevalence and incidence of eye infections are a major factor driving the market share growth. The estimated incidence of bacterial conjunctivitis in the US was around four million cases per year in 2009. According to the CDC, around eight million people globally are visually impaired due to the bacterial eye infection trachoma, which has the potential to cause isolated epidemics in heavily affected areas. Streptococcal infection was the most common etiology for bacterial conjunctivitis in India, Pseudomonas in Thailand, and Staphylococci in Paraguay. Therefore, the increasing prevalence and incidence of eye infections, such as conjunctivitis, blepharitis, and keratitis, offer promising growth opportunities for the market.
The growing adoption of generics is another factor supporting the market share growth. Generic drugs are almost identical to high-priced, branded drugs in terms of dosage, strength, quality, route of administration, and intended use. The regulatory approval process for generic drugs is equally stringent as that for branded drugs. The US FDA requires generic drugs to have the same drug kinetics, administration dosage, and composition and, at the same time, maintain an equivalent quality, safety, and efficacy to a branded drug. Additionally, these drugs have similar active ingredients, similar benefits, and risks as their branded counterparts.
Therefore, apart from their appearance, which, as per the US-based trading laws, should not resemble the original branded drug, and the presence of a few other inactive ingredients, everything else in generic drugs is the same. According to the non-profit organization Blue Cross Blue Shield of Michigan, generics account for more than 80% of the prescriptions filled in the US. Although this has an adverse effect on the growth of the market, the rising prevalence of various eye infections will only increase the demand for generic drugs.
The side effects associated with antibiotics will be a major challenge for the market share growth during the forecast period. The volume of eye drop dispensers available in the market usually exceeds the capacity of the conjunctival sac, which leads to the drainage of the excess medication. However, there is a possibility of this liquid being systemically absorbed through pathways, such as the nose, the pharynx, conjunctiva, the gastrointestinal tract, lacrimal drainage, inner ocular tissues, and the cheeks. However, since the conjunctival epithelium and corneal epithelium limit this absorption by acting as natural barriers and the bioavailability of the ophthalmic drug is very low, the risk of systemic absorption is low. Moreover, the administration of antibiotics, such as neomycin, sulfacetamide, fluoroquinolones, and sulfonamide, may lead to side effects, such as skin irritation, rash and itching, chemosis, conjunctival hyperemia, and stinging in the eyes. Another major challenge for the market is antibiotic resistance.
However, the bacteria that infect the eye do not change. They can undergo mutations with increased use and develop resistance to existing antibiotic drugs. This leads to higher medical expenditure and prolonged treatment for patients, as well as a higher risk of mortality. Hence, pharmaceutical companies operating in this market need to be continuously engaged in the development of novel and specific antibiotic agents in ophthalmic preparations. Though effective, antibiotics come with their share of side effects, which can potentially lead to their low adoption among the cohort, thus impeding market growth
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AbbVie Inc.: The company offers allergy relieving eye drops namely Albalon eye drop.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The antihistamines segment is estimated to witness significant growth during the forecast period. The antihistamines segment is a leading component of the market. This prominence is largely attributed to the effectiveness of antihistamines as a first-line treatment for allergic conjunctivitis, a condition that affects millions of individuals worldwide. As the prevalence of allergic conditions continues to rise, coupled with an increasing awareness of the importance of eye health, the demand for antihistamine-based eye drops is anticipated to grow substantially.
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The antihistamines segment accounted for USD 646.10 million in 2018 and showed a gradual increase during the forecast period. Antihistamines function by blocking the action of histamine at H1 receptors, which plays a crucial role in the body's allergic response. By inhibiting histamine release, these medications effectively alleviate a range of uncomfortable symptoms associated with allergies, including itching, redness, swelling, and excessive tearing. Their ability to provide rapid relief makes them a preferred choice for individuals suffering from both seasonal and perennial allergic reactions. Moreover, the segment is benefiting from recent innovations in product formulations, such as the introduction of preservative-free antihistamine eye drops. These advancements not only enhance patient comfort but also address concerns related to potential irritation caused by preservatives in traditional formulations.
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North America is estimated to contribute 48% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America has the largest share of the market and is attributed to the increased investments in R and D by large pharmaceutical companies and the presence of a proper regulatory framework for the approval of new drugs in the region. The other major reason for the region having the largest market share is the high rate of diagnosis, the presence of a proper regulatory framework for drug approvals, and the high healthcare expenditure in the region.
The market research report provides comprehensive data, with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market is experiencing significant growth due to rising awareness of allergies and related medical conditions. Products containing mast cell stabilizers like Ketotifen are increasingly popular for managing allergic reactions and conjunctivitis. These drops address symptoms such as itching, red eye, and inflammation, often triggered by environmental irritants and pollen season. The market offers a range of over-the-counter and nonprescription options, including eye ointments, artificial tears, and decongestant eye drops. Antihistamine and anti-inflammatory formulations, along with anti-inflammatory eye drops and steroid eye drops, help alleviate dry eye, eye strain, and burning sensations. As viral conjunctivitis and bacterial conjunctivitis remain prevalent, the demand for effective prescription eye drops and OTC eye drops continues to rise, ensuring better vision and comfort for users.
In addition, the market is growing rapidly as people seek relief from various medical conditions. Key products include mast cell stabilizers and topical antihistamines, which are effective in treating pink eye and giant papillary conjunctivitis. These treatments help manage symptoms caused by autoimmune diseases, hormonal changes, and vitamin A deficiency. Additionally, warm compresses and oral antibiotics complement the use of eye drops for more comprehensive care. The market also sees increased demand for prescription medications that address severe cases. As awareness of eye health improves, the availability of effective allergy-relieving solutions continues to expand, offering better management of eye symptoms and overall comfort.
Market Scope |
|
Report Coverage |
Details |
Page number |
141 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
Market Growth 2024-2028 |
USD 373.2 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.23 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 48% |
Key countries |
US, Germany, UK, Canada, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AbbVie Inc., Astellas Pharma Inc., Bausch Health Companies Inc., Dr Reddys Laboratories Ltd., Johnson and Johnson Services Inc., Lupin Ltd., Nicox S.A., Novartis AG, Ocular Therapeutix Inc, Pfizer Inc., Prestige Consumer Healthcare Inc., ROHTO Pharmaceutical Co. Ltd, Rynel Clifton Pharma Pvt. Ltd., Santen Pharmaceutical Co. Ltd., Similasan Corp. USA, Starpharma Holdings Ltd, Sumitomo Pharma Co. Ltd., Sun Pharmaceutical Industries Ltd., and Teva Pharmaceutical Industries Ltd. |
Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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