Allergic Conjunctivitis Market Size, Share & COVID-19 Impact Analysis, By Drug Class (Antihistamines & Mast Cell Stabilizers, Corticosteroids, and Others), By Disease Type (Mild, and Severe), By Distribution Channel (Hospital Pharmacies, Drug Stores & Retail Pharmacies, and Online Pharmacies), and Regional Forecast, 2020-2027

The global allergic conjunctivitis market size was USD 2.50 billion in 2019 and is projected to reach USD 3.05 billion by 2027, exhibiting a CAGR of 5.4% during the forecast period.

Allergic conjunctivitis refers to a common ophthalmic disorder where the conjunctiva of the eye is inflamed due to an allergic reaction, caused due to the individual’s interaction with an allergen. This disease is affecting a significant proportion of the global population but may often be ignored and underdiagnosed, both by the patient and the healthcare professional. This, in turn reduces the number of individuals seeking treatment for this disorder and often contributes to a significant reduction in the quality of life of the patient. However, increasing awareness is expected to boost the adoption of these drugs during the forecast period. Considering this, several companies are planning to invest in R&D initiatives to develop novel drugs and therapies for the treatment of this disorder. Therefore, the strong influx of generic versions of prominent drugs is likely to create growth opportunities for the global market during the forecast period. For instance, Zhaoke Ophthalmology Pharmaceutical Limited and IACTA Pharmaceuticals signed an agreement in July 2020. The agreement aims to accelerate the development of drugs called IC 265 and IC 270. The former is developed to treat dry eye and the latter for allergic conjunctivitis.

Market is Expected to Register a Decline Amid the COVID-19 Pandemic

The COVID-19 pandemic has hugely impacted the pharmaceutical sector This is due to the strong decline in hospital visits as per the government norms and regulations imposed across several countries. This is especially critical for the drugs market as several non-essential and non-critical medical procedures have been postponed in light of the pandemic. For instance, a report by TransUnion Healthcare estimated a declined rate of 32-60% in March 2020 for over 500 hospitals across the U.S. This is particularly expected to negatively impact individual’s suffering from this disease as the lack of diagnostic and consulting services by medical professionals will impact the timely prescription of drugs for eye disorders. Hence, as of now, the 2019-20 coronavirus pandemic is expected to have a negative impact on the global market.

LATEST TRENDS

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Increasing Presence of Generics in the Market to Aid in Expansion

One of the most important allergic conjunctivitis market trends is the increasing presence of generic equivalents or versions of the prominent drugs. This trend has been adopted by prominent market players such as Teva, and Alembic Pharmaceuticals Limited. Generic drugs have a number of advantages for patients such as significantly lower costs and their adoption is increasingly promoted by prominent regulatory agencies such as the U.S. FDA. For instance, in June 2017, Teva announced that they would launch an exclusive generic version of Pataday (olopatadine hydrochloride ophthalmic solution) 0.2%, in the United States. Thus, the introduction of generic equivalents is boosting the adoption of drugs in emerging regions but may significantly reduce the allergic conjunctivitis market share of companies that developed the original drugs.

DRIVING FACTORS

Strong Patient Population to Fuel Demand for Effective Therapeutics

One of the factors dominating the global market is the high number of patients suffering from the condition. This is anticipated to lead to a higher adoption of its therapeutic drugs in the forecast period. In an estimate stated by StatPearls in April 2020, simple allergic conjunctivitis affects 10%-30% of the general population. The American Association for Pediatric Ophthalmology & Strabismus also stated in 2020 that this ophthalmic disorder is expected to affect approximately 20% of the general population. Such strong statistics indicate that there is a rising need for awareness about this disorder and once patients are well-versed with the information, the demand for these drugs is likely to increase.  While this disease very rarely threatens the vision of the patient, it can often lead to a reduced quality of life.

Presence of Strong R&D Initiatives to Drive Growth

Another critical factor driving the global market is the continuous ongoing research initiatives for the development of new advanced therapies, thereby resulting in a rise in the number of pipeline drug candidates. For instance, in July 2020, a new drug molecule was introduced in the clinical trials. Cetirizine ophthalmic solution 0.24% (Zerviate, Nicox Ophthalmics Inc; licensed to Eyevance Pharmaceuticals, LLC) demonstrated robust efficacy in 3 randomized, double-masked, and placebo-controlled clinical trials using the Ora Conjunctival Allergen Challenge (CAC) model among its patients. Hence, significant investments in R&D and the increasing involvement of major and emerging players in the development of advanced and novel therapeutics is expected to boost the allergic conjunctivitis market growth rate during the forecast period.

RESTRAINING FACTORS

Lack of Awareness About the Disease Condition to Restrain Market Growth

Despite a considerable patient population globally suffering from allergic conjunctivitis, there are some critical limiting factors hindering the market growth. One of the important limitations include the lack of awareness regarding the limited adoption of these drugs. According to research published by the Allergy, Asthma & Clinical Immunology (AACI), the official journal of the Canadian Society of Allergy and Clinical Immunology (CSACI) in 2020, an approximate of nearly 40% of the population in North America suffered from allergic eye disease. Despite such concerning figures, the disease is often overlooked even though it contributes significantly to reduced productivity and negatively impacts the quality of life. This is expected to hamper demand for its drugs, thereby restricting the market growth.

SEGMENTATION

By Drug Class Analysis

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Antihistamines & Mast Cell Stabilizers to Grow at Faster Pace during 2020-2027

On the basis of drug class, the market includes antihistamines & mast cell stabilizers, corticosteroids, and others. Among these, the antihistamines & mast cell stabilizers segment held a dominant share in 2019. This dominance is owing to the large presence of antihistamines & mast cell stabilizers in the product portfolios of prominent companies, thereby resulting in higher adoption of these drugs as an efficient treatment option. The corticosteroids segment is projected to be the second most dominant segment owing to a presence of prominent product offerings such as Alrex, and Lotemax, and the strong usage of these drugs for an effective treatment.

However, the others segment is anticipated to register a lower CAGR in the forecast period. This is primarily due to the lack of presence of prominent drugs used in the treatment plan.

By Disease Type Analysis

Severe Segment Dominated the Market in 2019

Based on disease type, the market is segmented into mild, and severe. The severe segment primarily dominates the market because significant treatment costs are incurred owing to the greater administration of drugs. Also, a significant number of patients suffer from this disorder and require greater medical intervention. The mild segment accounted for a comparatively lower CAGR.

By Distribution Channel Analysis

Online Pharmacies to Register a Higher CAGR during the Forecast Period

On the basis of distribution channel, the market is segmented into hospital pharmacies, drug stores & retail pharmacies, and online pharmacies. The hospital pharmacies are expected to have the highest share in the market during the forecast period. This is primarily owing to the fact that a significantly large number of drugs have to be prescribed by healthcare professionals at hospitals and other related institutions. The drug stores & retail pharmacies are expected to grow at a comparatively lower CAGR during the forecast period. The online pharmacies segment is expected to register a strong CAGR especially due to the ease given to the consumers in terms of the drugs purchase. Also, in the uncertain times of COVID-19, online pharmacies are expected to register a strong boost. 

REGIONAL INSIGHTS

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On the basis of regions, the market is widespread into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market size in North America stood at USD 1.20 billion in 2019. This is attributable to the significant healthcare expenditure incurred on these drugs, the strong prevalence of this disease in the region, and the presence of major companies resulting in the launches of advanced drugs. For instance, according to an estimate published by the National Center for Biotechnology Information (NCBI), in 2013, it was estimated that up to 20% of the population in the U.S. was affected by the condition. This, coupled with the presence of positive reimbursement policies in the U.S., is the primary cause for this region’s dominance.

The Europe market is expected to register a strong CAGR owing to the strong potential patient population in the region wise, coupled with the increasing usage of sophisticated drugs. The Asia Pacific market is expected to register the highest CAGR due to the increasing healthcare expenditure, and a strong prevalence of this disease in the region. The other regions such as Latin America & the Middle East & Africa, accounted for a lower share of the global market owing to the greater usage of generics.

KEY INDUSTRY PLAYERS

Presence of Key Product Offerings has Propelled Allergan (AbbVie Inc.), Bausch & Lomb, and Alcon to Dominate Market.

The market is monopolistic in nature due to presence of several companies of various sizes in the market, with a number of key players targeting the generic drugs offerings for the treatment of allergic type of conjunctivitis. In the present scenario, Allergan (AbbVie Inc.), Bausch & Lomb, and Alcon are leading the global market in 2019, accounting for a strong market revenue. This is primarily due to the presence of a strong product portfolio. For instance, presence of strong products such as Lastacaft in Allergan’s portfolio, the presence of Bepreve in Bausch & Lomb’s portfolio, and the presence of SYSTANE ZADITOR in Alcon’s portfolio. At the same instance, companies such as Sun Pharmaceuticals, and Alembic Pharmaceuticals Limited are increasing their presence in the global market by focusing on the product approvals and launch of generic versions of the existing drugs.

Emerging players such as Ocular Therapeutix, Inc., and Eton Pharmaceutical are also aiming to gain regulatory approvals for their pipeline candidates, and this is expected to enable them to increase their market revenue during the forecast period.

LIST OF KEY COMPANIES PROFILED:

• Allergan (AbbVie Inc.) (Dublin, Ireland)


• Santen Pharmaceutical Co., Ltd. (Osaka, Japan)


• Bausch & Lomb (Laval, Canada)


• Alcon (Geneva, Switzerland)


• Novartis AG (Basel, Switzerland)


• Eyevance Pharmaceuticals LLC (Fort Worth, U.S.)


• Sun Pharmaceutical Industries Ltd. (Mumbai, India)


• Ocular Therapeutix, Inc. (Bedford, U.S.)


• Eton Pharmaceutical (Deer Park, U.S.)


• Other Players

KEY INDUSTRY DEVELOPMENTS:

• April 2020 – Alembic Pharmaceuticals Limited announced that the company had received an abbreviated new drug application (ANDA) approval from the FDA for their generic ophthalmic solution of alcaftadine for the disease indication of allergic conjunctivitis.


• February 2020 – Alcon announced the launch of Pataday Once Daily Relief, first ever and only eye drop to provide all day allergy itch relief arising from allergic conjunctivitis without a prescription.

REPORT COVERAGE

An Infographic Representation of Allergic Conjunctivitis Market

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The allergic conjunctivitis market research report provides a detailed market analysis and focuses on key aspects such as prevalence of allergic type of conjunctivitis - by key countries, pipeline depth analysis, table of contents, key industry developments, new product launches, competitive landscape, impact of COVID-19 on the market, and allergy – statistics, and facts. Besides this, the report offers insights into the market trends, and highlights the key industry dynamics. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over the recent years.

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