Global Corneal Ulcer Treatment Market Overview
Corneal Ulcer Treatment Market Size was valued at USD 0.86 Billion in 2022. The Corneal Ulcer Treatment market industry is projected to grow from USD 0.91 Billion in 2023 to USD 1.48 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.20% during the forecast period (2023 - 2032).Growing rates of eye disease incidence, rising contact lens use, and chemical exposure resulting in ulcers are the key market drivers boosting the expansion of the market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Corneal Ulcer Treatment Market Trends
- Increase in contact lens usage is driving the market growth
Market CAGR for corneal ulcer treatment is being driven by increase in contact lens usage. An open lesion on the cornea is called a corneal ulcer. The cornea covers the eye's pupil and iris. Another name for it is keratitis. Corneal ulcers can impair eyesight and leave lasting scars if they are not treated. Surgical procedures are typically used to replace the damaged cornea with a healthy donor cornea in order to address this problem. Ulcers are treated with further medicine after the infection goes away.
Additionally, the variables that will propel the corneal ulcer treatment industry forward are increasing government financing and public and private organizations' efforts to raise awareness. Further elements that would favorably affect the growth rate of the corneal ulcer treatment market include rising healthcare spending and technological advancements. Furthermore, a growing market for corneal ulcer treatments would be brought about by rising disposable income and changing lifestyles. The growing elderly population will increase the risk of pulpitis and drive up demand for treatments.
Further driving new prospects for the market's growth rate will be the expansion of research and development efforts as well as favorable reimbursement policies in developed regions. Exposure to chemicals that might cause ulcers and the increasing use of contact lenses are two other important factors impacting the growth rate of the corneal ulcer treatment market. A key factor contributing to the market's increased growth rate will be the increased prevalence of eye illnesses worldwide.
For instance, according to a 2022 study by Byrd and Martin, the yearly incidence of corneal ulcers in the United States alone is predicted to be between 30,000 and 75,000, and 12.2% of all corneal transplants are performed for the treatment of infectious keratitis. Thus, result in driving the Corneal Ulcer Treatment market revenue.
Corneal Ulcer Treatment Market Segment Insights
Corneal Ulcer Treatment Treatment Insights
The Corneal Ulcer Treatment market segmentation, based on Treatment includes Medication, Surgery, and Others. The medication segment dominated the market. Many times, bacteria, fungus, or viruses are the infectious organisms that cause corneal ulcers. The underlying infection must be treated with medication, which includes antibiotics and antifungals.
Corneal Ulcer Treatment Diagnosis Insights
The Corneal Ulcer Treatment market segmentation, based on Diagnosis, includes Fluoresce in Eye Stain Test, Slit-Lamp Exam, and Others. The eye stain test category generated the most income. Healthcare providers are more inclined to favor tests with high sensitivity and accuracy in identifying corneal ulcers.
Corneal Ulcer Treatment Symptoms Insights
The Corneal Ulcer Treatment market segmentation, based on symptoms includes Redness, Tears, Discharge from Eye, Blurry Vision, Swollen Eyelids, Vision Changes, Severe Pain, and Others. The severe pain segment dominated the market. Because it is frequently a noticeable symptom that denotes a more severe and advanced stage of the ailment, extreme pain might represent a sizeable share holder segment in the corneal ulcer treatment market.
Corneal Ulcer Treatment Dosage Insights
The Corneal Ulcer Treatment market segmentation, based on Dosage, includes Eye Drops, Tablet, and Others. The tablet category generated the most income. Tablets can contain a greater dose of the active ingredient, are easier to give, have a longer shelf life, and typically have a quick release mechanism.
Corneal Ulcer Treatment Route of Administration Insights
The Corneal Ulcer Treatment market segmentation, based on Route of Administration includes Oral, Topical, and Others. The oral segment dominated the market. Oral drugs that treat infections that can lead to corneal ulcers include antifungal drugs and systemic antibiotics. By circulating throughout the body, these drugs treat the underlying microbiological causes.
Corneal Ulcer Treatment End Users Insights
The Corneal Ulcer Treatment market segmentation, based on End Users, includes Clinic, Hospital, and Others. The hospital category generated the most income. Hospitals are better equipped to provide a variety of specialist therapies, such as the administration of cutting-edge drugs like antifungal or antibiotic agents, along with other therapeutic procedures, for corneal ulcers. These therapies frequently call for a monitored and supervised setting.
Corneal Ulcer Treatment Distribution Channel Insights
The Corneal Ulcer Treatment market segmentation, based on Distribution Channel includes Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy. The hospital pharmacy segment dominated the market. They are essential since the medications needed for therapy are readily accessible, they will have improved access to patient medical records, and they will engage with treatment facilities and medical experts more frequently.
Figure1:Corneal Ulcer Treatment Market, by Distribution channel,2022&2032(USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Corneal Ulcer Treatment Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Corneal Ulcer Treatment market area will dominate this market. Age-related eye disorders, such as corneal ulcers, are linked to a higher incidence rate. The need for efficient therapies for corneal ulcers is anticipated to increase as the population ages.
Further, the major countries studied in the market report are The US, German, France, the UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil.
Figure2:CORNEAL ULCER TREATMENT MARKET SHARE BY REGION 2022 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Europe Corneal Ulcer Treatment market has the second-largest portion of the market. Early detection of corneal ulcers and increased knowledge of eye health are key factors in prompt intervention and treatment. Further, the German Corneal Ulcer Treatment market had the biggest market share, and the UK Corneal Ulcer Treatment market was the fastest growing market in the European region
The Asia-Pacific Corneal Ulcer Treatment Market is anticipated to expand between 2023 and 2032 at the quickest CAGR. This is due to the increased need for anticoagulants and blood thinners brought on by the rising prevalence rates in China and India. Moreover, China’s Corneal Ulcer Treatment market had the biggest market share, and the Indian Corneal Ulcer Treatment market was the fastest growing market in the Asia-Pacific region.
Corneal Ulcer Treatment Key Market Players& Competitive Insights
Leading market players are putting a lot of money on R&D to expand their product lines, which will help the market for weight reduction products grow. Additionally, market players are engaging in a range of calculated initiatives to increase their worldwide presence, with important market developments involving the introduction of new products, contracts, M&A transactions, increased investment, and cooperation with other enterprises. to grow and endure in an increasingly cutthroat and dynamic market, Corneal Ulcer Treatment industry must provide reasonably priced goods.
Manufacturing locally is one of the primary business techniques used by manufacturers to cut operational costs in the Corneal Ulcer Treatment industry to help customers and expand the market segment. In recent years, the Corneal Ulcer Treatment industry has provided some of the biggest benefits to medicine. Major players in the Corneal Ulcer Treatment market, including Pfizer Inc., GlaxoSmithKline plc, Sanofi, Novartis AG, Allergan, Merck & Co., Inc., Mylan N.V., Teva Pharmaceutical Industries Ltd., Bayer AG, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma, and others, are attempting to increase market demand by investing in research and development operations.
Situated in Manhattan, New York City's The Spiral, is the headquarters of Pfizer Inc., a worldwide pharmaceutical and biotechnology company. Charles Pfizer (1824–1906) and his relative Charles F. Erhart (1821–1891), two German businessmen, founded the corporation in New York in 1849. For the fields of immunology, cancer, cardiology, endocrinology, and neurology, Pfizer develops and manufactures medications and vaccines. In April 2021, Amplyx Pharmaceuticals and its antifungal drug fosmanogepix (APX001) were bought by Pfizer.
One of the biggest pharmaceutical and biomedical corporations in the world is Bayer AG, a multinational pharmaceutical and biotechnology firm based in Germany. Bayer, who has its headquarters in Leverkusen, is a company that deals in pharmaceuticals, consumer healthcare goods, seeds, agricultural chemicals, and biotechnology products. The business is included in the EURO STOXX 50 index of stock market companies. In June 2021, the business declared that it has acquired PSMA Therapeutics Inc. and Noria Therapeutics Inc., acquiring the rights to several actinium-225-based cancer-based experimental drugs.
Key Companies in the Corneal Ulcer Treatment market include
-
Pfizer Inc.
-
GlaxoSmithKline plc
-
Sanofi
-
Novartis AG
-
Allergan
-
Merck & Co., Inc.
-
Mylan N.V.
-
Teva Pharmaceutical Industries Ltd.
-
Bayer AG
-
Sun Pharmaceutical Industries Ltd.
-
Aurobindo Pharma
-
Lupin
-
AbbVie Inc.
-
Cumberland Pharmaceuticals Inc.
-
Melinta Therapeutics LLC
-
Eli Lilly and Company
-
Cipla Inc.
-
Dr. Reddy’s Laboratories Ltd.
-
AstraZeneca
-
Johnson & Johnson Private Limited
Corneal Ulcer Treatment Industry Developments
August 2020:Bayer announced the acquisition of KaNDy Therapeutics Ltd., which would assist grow its business in the female healthcare market. In October, Bayer announced that it will pay $2 billion up front to purchase Asklepios BioPharmaceuticals.
November 2019:Avedro is a hybrid ophthalmic pharmaceutical firm that specializes in treating corneal diseases and disorders. Glaukos Corporation purchased Avedro in an all-share deal. This acquisition has prompted the creation of the new corneal health franchise's cornerstone.
December 2019:A Phase 4 multicenter, multiple-doses, open-label trial was initiated by Mallinckrodt plc to evaluate Achtar Gel as a treatment for individuals suffering from severe keratitis. The study enrolled its first participants.
Corneal Ulcer Treatment Market Segmentation
Corneal Ulcer Treatment Treatment Outlook
-
Medication
-
Surgery
-
Others
Corneal Ulcer Treatment Diagnosis Outlook
Corneal Ulcer Treatment Symptoms Outlook
-
Redness
-
Tears
-
Discharge from Eye
-
Blurry Vision
-
Swollen Eyelids
-
Vision Changes
-
Severe Pain
-
Others
Corneal Ulcer Treatment Dosage Outlook
Corneal Ulcer Treatment Rout Of Administration Outlook
Corneal Ulcer Treatment End Users Outlook
Corneal Ulcer Treatment Distribution Channel Outlook
-
Hospital Pharmacy
-
Retail Pharmacy
-
Online Pharmacy
Corneal Ulcer Treatment Regional Outlook
-
Germany
-
France
-
UK
-
Italy
-
Spain
-
Rest of Europe
-
Asia-Pacific
-
China
-
Japan
-
India
-
Australia
-
South Korea
-
Australia
-
Rest of Asia-Pacific
-
Rest of the World
-
Middle East
-
Africa
-
Latin America
| Report Attribute/Metric |
Details |
| Market Size2022 |
USD 0.86 Billion |
| Market Size 2023 |
USD 0.91 Billion |
| Market Size2032 |
USD 1.48 Billion |
| Compound Annual Growth Rate (CAGR) |
6.20% (2023-2032) |
| Base Year |
2022 |
| Market Forecast Period |
2023-2032 |
| Historical Data |
2018- 2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Product, Application, and Region |
| Geographies Covered |
North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered |
The US, German, France, UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil |
| Key Companies Profiled |
ย Pfizer Inc., GlaxoSmithKline plc, Sanofi, Novartis AG, Allergan, Merck & Co., Inc., Mylan N.V., Teva Pharmaceutical Industries Ltd., Bayer AG, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma |
| Key Market Opportunities |
Increased R&D spending by both public and private entities |
| Key Market Dynamics |
The high frequency of eye disorders is fueling the market's expansion. |
Frequently Asked Questions (FAQ) :
In 2022, the market for corneal ulcer treatments was estimated to be worth USD 0.86 billion worldwide.
From 2023 to 2032, the market is expected to expand at a compound annual growth rate (CAGR) of 6.20%.
North America held the most market share worldwide.
Pfizer Inc., GlaxoSmithKline plc, Sanofi, Novartis AG, Allergan, Merck & Co., Inc., Mylan N.V., Teva Pharmaceutical Industries Ltd., and Bayer AG are the major participants in the market.
In 2022, the market was dominated by the medication category.
The Hospital Pharmacy held the biggest market share worldwide.
