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Eye flu, also known as conjunctivitis, is a highly infectious disease caused by many infectious agents like bacteria, viruses or allergens. It is characterized by redness, swelling, discharge or crusting around one or both eyes. The most common form is viral conjunctivitis which contributes to more than half of all conjunctivitis cases. Antibacterial and antiviral drugs are commonly used for treatment of bacterial and viral conjunctivitis respectively. Topical eye drops, ointments and eye washes are some common dosage forms for drug administration.
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 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The eye flu conjunctivitis market is primarily driven by increasing incidence of eye infections globally. According to WHO, there are an estimated 114 million new cases of bacterial, viral, allergic and environmentally induced conjunctivitis each year worldwide. Viruses are the most common cause of red eye, accounting for about 50-75% of all conjunctivitis cases. Flu and respiratory syncytial virus are among the most common infectious causes of viral conjunctivitis during winter and early spring months. Growing pediatric population is also fueling the growth of market owing to higher prevalence of eye infections in children. Moreover, rising availability of generic drugs along with innovative drug delivery mechanisms such as user-friendly preservative-free eye drops are encouraging more patients to seek early treatment and propelling the market growth. However, self-limiting nature of most conjunctivitis cases poses a challenge for market players to educate public about early diagnosis and treatment.
Segment Analysis
The eye flu (conjunctivitis) market can be segmented based on type into allergic conjunctivitis, bacterial conjunctivitis, and viral conjunctivitis. Bacterial conjunctivitis dominates the overall market with the highest share. It is estimated that around 30% of cases are caused by bacteria as it is easily transmittable. Other types are allergic conjunctivitis (caused by allergens such as pollen) and viral conjunctivitis often caused by adenovirus.
PEST Analysis
Political: Healthcare regulatory bodies are focusing on ensuring drug safety and efficacy through stringent approval processes for new drugs.
Economic: Rising healthcare costs in developing countries coupled with increasing disposable incomes are fueling market growth.
Social: Increasing public awareness about eye care and availability of treatment options are encouraging patients to seek medical help early.
Technological: Advancements in drug delivery mechanisms help in development of novel treatments with improved efficacy and fewer side effects.
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 incidences of bacterial and viral infections. The market size for 2023 is estimated to be US$ 4.54 Bn.
North America dominates the global market owing to larger patient pool in the US and Canada. Asia Pacific is anticipated to exhibit fastest growth during the forecast period due to rising healthcare spending and increasing affordability in India and China.
Key players operating in the eye flu (conjunctivitis) market include Novartis AG, 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. These companies are focusing on expanding their product portfolios through mergers & acquisitions and collaborations.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
