Over the forecast period, the expansion of the worldwide allergic conjunctivitis market is anticipated to be driven by an increase in the incidence and prevalence of allergic conjunctivitis. For instance, Clinical Epidemiology and Global Health reports that in 2019, the prevalence of allergic conjunctivitis in India was 12.22%, with more males (13.44%) than females (10.71%) reporting the condition. The development of treatments for allergic conjunctivitis is a top priority for industry participants, and this is what is anticipated to fuel the expansion of the allergic conjunctivitis market globally over the coming years. For instance, in April 2020, Ocular Therapeutix, Inc., a biopharmaceutical company dedicated to the formulation, development, and commercialization of novel therapies for eye diseases and conditions, released top line findings from its Phase 3 clinical trial to assess the safety and efficacy of DEXTENZA for the treatment of ocular itching brought on by allergic conjunctivitis (AC).
According to the Coherent Market Insights, the market for Allergic Conjunctivitis is projected to reach US$ 2,486.7 million in 2021 and grow at a CAGR of 5.4% during the following five years (2021-2028).
Key Leaders in the Allergic Conjunctivitis Industry:
1. Sun Pharmaceutical Industries Limited
Mumbai is home to Sun Pharmaceuticals, which was established in 1983. The company creates and markets active medicinal components and pharmaceutical formulations. Palbociclib, a breakthrough targeted medication for advanced breast cancer, is introduced by Sun Pharma in January 2023 with a special Patient Support Program. In March 2022, Sun Pharma launched its version of vortioxetine in India via an exclusive patent licence from Lund beck.
2. Eton Pharmaceutical
The company was established in 2017 and its main office is in Illinois, United States. The Company's main areas of concentration are the development and marketing of novel medicines such as injectables, oral fluids, and ophthalmics. In January 2023, Eton Pharmaceuticals announced that the FDA has approved its NDA response for dehydrated alcohol injection. The sale of hospital products by Eton Pharmaceuticals is scheduled to begin in June 2022.
3. Bausch & Lomb Incorporated.
The organization's head office is in Vaughan, Ontario, Canada, where it was established in 1853. It provides medications, intraocular lenses, eye glasses, lens care items, and additional products for eye surgery. Improved PreserVision® AREDS 2 Formula Mini Soft Gels with OCUSorbTM will be available from Bausch & Lomb starting in January 2023. Project WatsonTM Health Care Items for Dogs were released by Bausch & Lomb in October 2022.
4. Allergan
The company was founded in 2013 and its main office in Dublin, Ireland. The business buys, develops, makes, and sells name-brand medications and medical equipment in the fields of gastroenterology, eye care, neurology, and medical aesthetics. New Results for Investigational Bimatoprost Sustained-Release from Allergan were presented at the American Glaucoma Society Annual Conference in February 2020. In order to raise awareness of the effects of glaucoma on daily life in January 2020, Allergan teams up with Super Bowl MVP Von Miller.
5. Novartis AG
Based in Basel, Swiss, and Cambridge, the U.S., Massachusetts, Novartis AG was established in March, 1996. Products covered by Novartis include prescription medications, OTC medications, vaccinations, testing, prescription glasses, and veterinary medicine. A number of the following operations are carried out directly by Novartis through subsidiaries: Handling, Marketing, Operations, and Research.
6. Eyevance Pharmaceuticals LLC
The business was founded in 2017 and based in Texas, United States. The company's main areas of focus are the creation and marketing of ophthalmic products that promote the best possible eyesight. The topical ophthalmic corticosteroid Flarex from Novartis was purchased by Eyevance in April 2021 for the US market.
7.Santen Pharmaceutical Co., Ltd.
The business was established in 1890 and is situated in Osaka, Japan. In terms of ophthalmological research and development, pharmaceutical and medical device manufacturing, and marketing, Santen is a world leader. The third building on the site of the Shiga Product Supply Center will be finished by Santen in October 2022, strengthening its global product supply base.
8.Atopix Therapeutics Ltd.
The business was founded in 2012, and its main office is in Oxford, United States .The Company creates anti-inflammatory drugs to treat atopic diseases like eczema and asthma as well as chronic allergic problems. Timapiprant will be tested as a once-daily treatment for allergic conjunctivitis, asthma, and atopic dermatitis by Atopix Therapeutics.
Definition: An allergic reaction to anything like pollen can induce conjunctivitis, an eye inflammation.Allergic conjunctivitis is an inflammation of the conjunctiva, the tissue that lines the inside of the eyelids and the white of the eye.
