The Eye Flu (Conjunctivitis) Market is estimated to be valued at US$ 4.54 Bn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Eye flu, also known as conjunctivitis, is an inflammation or infection of the transparent membrane ( conjunctiva) that covers the part of the eyeball and the inner surface of eyelids. The infection is caused by bacteria, viruses or allergens. Common symptoms include eye irritation, redness, watery discharge from one or both eyes with or without increased tear production, itching and increased sensitivity to light. Conjunctivitis is usually either acute or chronic based on the duration of symptoms. Topical eye drops and ointments are widely used to treat eye flu infections.
Market Dynamics:
The growth of the Eye Flu Market Size is driven by the increasing prevalence of viral and bacterial conjunctivitis worldwide. According to a report by the Center for Disease Control and Prevention (CDC), viral conjunctivitis is one of the most common causes of acute conjunctivitis or pink eye, accounting for over half the cases. The growing trends of urbanization and changing lifestyles have increased environmental pollution levels which act as a catalyst in exacerbating eye allergies and infections like eye flu. Various environmental allergens like pollen, smoke, dust etc. are major causes of seasonal allergic conjunctivitis affecting millions worldwide every year.
Additionally, advancements in ophthalmic drug delivery systems have aided in developing novel, targeted and effective treatment options for different types of conjunctivitis. For instance, eye drops containing antimicrobial and anti-inflammatory compounds are now available in various advanced formats like gels, ointments and inserts for both acute and chronic conditions. Sustained release drug delivery solutions ensure longer duration of action with fewer dose applications compared to traditional liquid eye drops.
Segment Analysis
The eye flu (conjunctivitis) market can be segmented based on type as bacterial conjunctivitis, viral conjunctivitis and allergic conjunctivitis. Bacterial conjunctivitis accounts for nearly 30% of the total segment. It is the dominating sub-segment due to higher rate of occurrence among both adults and children caused by bacterial infections such as staphylococcus aureus and streptococcus pneumoniae.
PEST Analysis
Political: The government support for research and development activities related to rare and new eye diseases is expected to aid market growth. Economic: Rising income levels and growing health awareness is positively impacting the demand for advanced treatment options. Social: Changes in lifestyle and increased screen time is leading to higher incidence of digital eye strain leading to various eye problems. Technological: Continuous innovation in drug delivery methods and new product launches are expanding treatment options.
Key Takeaways
The global eye flu (conjunctivitis) market is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing incidence of seasonal flu and viral conjunctivitis among both pediatric and adult population. The market size for 2023 is estimated to be US$ 4.54 Bn.
Regional analysis indicates that Asia Pacific region is expected to exhibit fastest growth during the forecast period due to large patient pool, increasing healthcare investments and expansion of key players in the region. Central and Eastern Europe is also anticipated to grow significantly owing to high disease prevalence.
Key players operating in the eye flu (conjunctivitis) market are Novartis, Allergan, Bausch Health, Santen Pharmaceutical, Johnson & Johnson, Alembic Pharmaceuticals, Akorn Pharmaceuticals, Alcon, Pfizer, Valeant Pharmaceuticals, Merck & Co., Similasan Corporation, Sun Pharmaceutical Industries, Prestige Consumer Healthcare, Lupin Pharmaceuticals, Alembic Pharmaceuticals, Aurolab, Intas Pharmaceuticals, Sun Pharma, Cipla.
