February 25, 2024

Eye Flu (Conjunctivitis) Market is Expected to be Flourished by Increasing Adoption of Ophthalmic Therapeutics

Eye flu, also known as conjunctivitis, is a highly contagious eye infection that causes the conjunction (membrane lining the inner surface of eyelids and white part of the eyeball) to become inflamed and red. Some common symptoms include redness, itching, discharge or tearing from one or both eyes, eyelids stuck together after sleep due to drainage, and sensitivity to light. Conjunctivitis can be caused by bacteria, viruses, or allergens. Its treatment depends on the cause and ranges from over-the-counter eye drops to antibiotic eye drops and ointments. The global eye flu market is gaining significant traction owing to increasing adoption of advanced ophthalmic therapeutics and rising prevalence of allergies and eye infections across the globe.

The global 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 Dynamics

Increasing adoption of ophthalmic therapeutics: As highlighted in the heading, growing adoption of advanced ophthalmic drugs and therapies for effective treatment of eye disorders such as conjunctivitis is expected to propel the market growth over the forecast period. New innovative products launched by leading players are further fueling the demand.

While ocular infections and allergies are the major root causes of eye flu and prompt the need for effective treatment solutions, factors such as sedentary lifestyle, lack of physical activity, unsafe living conditions, environment pollution also aggravating the prevalence of various eye problems worldwide. Growing awareness about availability of treatment options as well as rise in healthcare expenditure in developing nations are offering lucrative opportunities for market participants.

Segment Analysis
The global eye flu (conjunctivitis) market is dominated by bacterial conjunctivitis sub-segment. There are three main types of conjunctivitis which include bacterial, viral and allergic. Among these, bacterial conjunctivitis accounts for over 45% of the total cases which make it the dominating sub-segment. Factors such as increased prevalence of bacterial conjunctivitis and availability of novel antibiotics for its treatment contribute to its large share.

Pest Analysis

Political: Emergence of new regulations regarding drug development and approval process may impact market dynamics.
Economic: Rising disposable income allows people to spend more on eye care in developing nations boosting market growth.
Social: Increasing awareness regarding eye health aids early diagnosis and treatment of eye flu through social media campaigns.
Technological: Development of advanced diagnostic tools and novel drug formulations aid efficient conjunctivitis management.

Key Takeaways

The global eye flu (conjunctivitis) market is expected to witness high growth over the forecast period of 2023 to 2030 supported by rising disease incidence, growing geriatric population and new product launches.

Regional analysis: North America holds the major share in the eye flu market owing to presence of sophisticated healthcare infrastructure and rising number of eye disorders in the region. The US contributes maximum to the regional market share.

Key players: Key players operating in the eye flu (conjunctivitis) market are Novartis AG, Allergan plc, Bausch Health Companies Inc., Akorn Inc. and Santen Pharmaceutical Co., Ltd. Novartis AG leads the market with its topical antibiotic Xifaxan eye drops used for treating conjunctivitis.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it