The global fungal keratitis treatment market demand is projected to have grown from US$ 571.7 million in 2023 to US$ 1.0 billion by 2033. Within the pharmacological class, polyenes accounted for roughly 45.1% of the global market in 2022 and are predicted to expand at a compound annual growth rate (CAGR) of nearly 5.9% from 2023 to 2033.
In the fungal keratitis treatment market, there has been a significant increase in awareness about the importance of early diagnosis and treatment in recent times. This growing awareness is driven by various factors, including the rising prevalence of fungal keratitis, its potential sight-threatening consequences, and the advancements in medical knowledge and technology. This has further, facilitated early detection and diagnosis of fungal keratitis.
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Eye care professionals now have access to improved diagnostic tools, such as confocal microscopy and molecular testing, which allow for more accurate and rapid identification of the causative fungi. This enables healthcare providers to initiate appropriate treatment sooner, improving the chances of successful outcomes and reducing the risk of severe complications.
The growing awareness about the importance of early diagnosis and treatment in the fungal keratitis treatment market is a positive development that reflects the increasing concern about eye health. The rising prevalence of fungal keratitis and its potential sight-threatening consequences have highlighted the need for timely intervention. Advancements in medical knowledge and technology, along with public awareness campaigns, have further contributed to the emphasis on early diagnosis and treatment.
Key Takeaways from Market Study:
- By drug class, polyenes accounted for 45.1% of the total market share in 2022. The most well-known and commonly used polyene antifungal drug for treating fungal keratitis is Amphotericin B. It’s effective against a wide range of fungal species and is often used in severe or difficult-to-treat cases of fungal keratitis.
- By drug formulation, eye drops accounted for 58.6% of the total market share in 2022. For the treatment of fungal keratitis, antifungal medications can be formulated into eye drops to directly target the infection in the eye. The dominant drug formulation used in this case is the incorporation of antifungal agents into eye drop solutions.
- By indication, superficial keratitis accounted for 69.5% of the total market share in 2022. Superficial fungal keratitis, which affects the outer layers of the cornea is important to be treated promptly to prevent progression to more serious forms of keratitis.
- By age group, 40-64 years accounted for 44.1% of the total market share in 2022 due to high prevalence of fungal keratitis within this age group.
- Considering the distribution channel, institutional sales accounted for around 53.1% of the global market share in 2022. The institutional sales is expected to experience rapid growth between 2023 and 2033, driven by medical advancements, and collaborations between pharmaceutical firms and healthcare facilities.
- North America dominated the global market with the United States contributing around USD 110.7 Million in 2022 due to its advanced healthcare infrastructure, high prevalence of infectious diseases, strong regulatory framework, and significant investment in research and development.
“Improved fungal keratitis diagnostics, medication delivery systems, and individualized therapies to meet patient and healthcare professionals’ demands to boost the market” says an analyst of Future Market Insights.
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Market Competition:
Leading players are either undertaking new product launches or divestiture of their products to maintain their foothold in the global market.
- In July 2023, AbbVie and Calibr collaborated to advance preclinical and early-stage clinical assets in immunology, oncology, and neuroscience, providing research option payments over five years for therapeutic programs.
- In June 2023, Bausch Health acquired XIIDRA®, a non-steroid eye drops for treating dry eye disease, from Novartis, accreting to Bausch + Lomb, a global pharmaceutical company specializing in gastroenterology, hepatology, neurology, dermatology, and eye health.
Key Companies Profiled:
- Novartis AG
- Eyevance Pharmaceuticals, LLC (Santen Holdings United States Inc.)
- AbbVie Inc.
- Pfizer Inc.
- Merck and Co. (Merck KGaA)
- Bausch Health Companies Inc.
- Cipla Inc.
- Wellona Pharma
- LEXICARE PHARMA PVT. LTD
- Salvus Pharma
Key Market Segments Covered in the Fungal Keratitis Treatment Industry Research:
By Drug Class:
- Polyenes
- Natamycin
- Amphotericin B
- Azoles
- Triazole
- Fluconazole
- Voriconazole
- Posaconazole
- Itraconazole
- Imidazoles
- Econazole
- Miconazole
- Ketoconazole
- Triazole
- Flucytosine
- Echinocandins
- Capsofungin
- Micafungin
- Terbinafine
By Drug Formulation:
- Tablets
- Eye Drops
- Ophthalmic Ointments
- Subconjunctival Injections
By Indication:
- Superficial Keratitis
- Deep Keratitis
By Age Group:
- 0-18 Years
- 18-39 Years
- 40-64 Years
- 65 Years and Above
By Market Status:
- Rx
- OTC (Over The Counter)
By Distribution Channel:
- Institutional Sales
- Hospitals
- Ophthalmic Clinics
- Retail Sales
- Retail Pharmacies
- Drug Stores
- E-Commerce/Mail Order Pharmacies
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
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