Eye flu, also known as conjunctivitis, is a highly contagious eye infection that causes eyes to become red, irritated and watery. It can spread through direct contact with eye discharge from an infected person. The rising incidence of bacterial and viral eye infections globally has boosted the demand for effective eye flu treatment medications such as antibiotics, antivirals and eye drops.
The global Eye Flu (Conjunctivitis) Market is estimated to be valued at US$4.54 billion in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing population affected by eye infections is driving significant growth in the eye flu market. As per recent data, conjunctivitis affects around 6 million people annually in the United States alone. Factors such as lack of hygiene, close contact with infected individuals and changing environmental conditions are contributing to the rising prevalence of eye infections globally. This has increased the demand for effective eye flu treatment options among the patients.
SWOT Analysis
Strength: The main strength is the large patient pool suffering from eye flu. Rising awareness regarding eye care is also a positive factor.
Weakness: Low diagnosis rates in developing nations pose a challenge. Lack of access to healthcare in rural areas is another weakness.
Opportunity: Growth opportunities exist in untapped emerging markets. Launch of advanced diagnostic tools can boost early detection.
Threats: Threat from alternative treatment options. Risk of drug resistance due to over-the-counter medications.
Key Takeaways
The global eye flu (conjunctivitis) market is expected to witness high growth. The market size for 2024 is projected to reach US$ 4.54 billion, growing at a CAGR of 8.0% during the forecast period of 2023 to 2030.
Regional analysis: North America currently dominates the eye flu market due to rising elder population and growing health awareness. However, Asia Pacific is likely to emerge as the fastest growing regional market supported by expanding patient base in highly populated nations like India and China.
Key players: Key players operating in the eye flu (conjunctivitis) market are Novartis AG, Santen Pharmaceutical, Bausch & Lomb, Allergan, and Akorn. Novartis leads with its portfolio of branded drugs like TobraDex and Vigamox. However, small companies are gaining market share through economy-priced generic formulations.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
