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[Research Report] The eye allergy treatment market size is projected to reach US$ 5.69 billion by 2030 from US$ 3.59 billion in 2022; it is estimated to record a CAGR of 5.9% during 2022–2030.
Market Insights and Analyst View:
Eye allergy treatment includes over-the-counter medications and prescription drugs used to alleviate symptoms such as redness, itching, tearing, and swelling of the eyes. Some of the commonly used products include antihistamine eye drops, mast cell stabilizers, and combination therapies. Primary types of eye allergy are seasonal or perennial allergic conjunctivitis, vernal keratoconjunctivitis, atopic keratoconjunctivitis, and contact allergic conjunctivitis. The increasing prevalence of eye allergies worldwide and the availability of over-the-counter solutions favor the eye allergy treatment market growth.
Growth Drivers:
Eye allergies, also known as allergic conjunctivitis, are triggered by pollen, dust, animals, and mold. Rising levels of air pollution have contributed to the growing incidences of eye allergies. In addition, changes in lifestyle and dietary habits, increased exposure to allergens, increased screen time leading to eye strain, and increased susceptibility to eye discomfort have contributed to a substantial rise in eye allergic reactions among the global population.
As per a study titled “A Contemporary Look at Allergic Conjunctivitis,” published in 2020, allergic eye disease is a common issue among the North American population. It affects nearly 40% of the population, and this number is growing. Half of the US population who suffer ocular allergy symptoms require medication for relief. Still, only a fraction of them use prescription medications, making the development of these new treatments especially attractive.
Eye allergy treatment includes products and solutions that are used to treat and manage allergies affecting the eyes. Treatment includes over-the-counter medications and prescription drugs used to alleviate symptoms such as redness, itching, tearing, and swelling of the eyes. Some commonly used products include antihistamine eye drops, mast cell stabilizers, and nonsteroidal anti-inflammatory drugs. The growth in the number of people experiencing eye allergies leads to a higher demand for treatment options. This increased the demand for treatment choices, thereby driving the eye allergy treatment market growth.
The eye allergy treatment market trends include the development of combination therapies that will favor the growth of the market in the future.
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Eye Allergy Treatment Market: Strategic Insights
Market Size Value in US$ 3.59 billion in 2022 Market Size Value by US$ 5.69 billion by 2030 Growth rate CAGR of 5.9% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Eye Allergy Treatment Market: Strategic Insights
Market Size Value in | US$ 3.59 billion in 2022 |
Market Size Value by | US$ 5.69 billion by 2030 |
Growth rate | CAGR of 5.9% from 2022 to 2030 |
Forecast Period | 2022-2030 |
Base Year | 2022 |
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Speak to AnalystReport Segmentation and Scope:
The eye allergy treatment market analysis has been carried out by considering the following segments: treatment, indication, distribution channel, and geography. Based on treatment, the market is categorized into medication, allergy shots, and eye drops. In terms of indication, the market is classified into seasonal and perennial allergic conjunctivitis, vernal keratoconjunctivitis, atopic keratoconjunctivitis, contact allergic conjunctivitis, and giant papillary conjunctivitis. In terms of distribution channels, the market is segmented into hospital pharmacies, online pharmacies, and drug stores.
The scope of the eye allergy treatment market report covers North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
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Segmental Analysis:
The eye allergy treatment market, by treatment, is categorized into medication, allergy shots, and eye drops. The eye drops segment held a significant market share in 2022. It is anticipated to record the highest CAGR in the market during 2022–2030.
Based on indication, the market is categorized into seasonal and perennial allergic conjunctivitis, vernal keratoconjunctivitis, atopic keratoconjunctivitis, contact allergic conjunctivitis, and giant papillary conjunctivitis. The seasonal and perennial allergic conjunctivitis segment held a significant eye allergy treatment market share in 2022 and is estimated to register the highest CAGR during 2022–2030.
Based on distribution channels, the market is segmented into hospital pharmacies, online pharmacies, and drug stores. The hospital pharmacies segment held a significant eye allergy treatment market share in 2022. In addition, the online pharmacy segment is expected to register the highest CAGR during 2022–2030.
Eye Allergy Treatment Market, by Treatment – 2022 and 2030
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Regional Analysis:
Based on geography, the eye allergy treatment market report is primarily divided into North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2022, North America captured a significant share of the market. In 2022, the US held the largest share of the market in the region. The market growth in North America is attributed to the availability of modern healthcare infrastructure, the strong presence of key market players, the growing number of eye allergies and dry eye diseases, and the introduction of cutting-edge medications. According to Baptist Health, nearly 50 million Americans have some form of seasonal allergy. About 30% of all adults and 40% of all children experience allergic reactions affecting eyes, eyelids, and tear ducts.
A dry eye can lead to eye allergies, which will consequently result in dry eye disease. Dry eye disease is a common, although underdiagnosed disorder in the US. According to the National Health and Wellness Survey data published in 2020, 6.8% of the adult population in the US was diagnosed with dry eye. According to an article, ‘Risk factors for ocular surface damage in Mexican patients with dry eye disease: a population-based study,’ published in 2019, nearly 58% of people complained about dry eyes.
Pharmaceutical companies are improving access to specialized treatments, such as allergy-relieving eye drops, to expand their reach in the region. From March 2022, Allergan’s LASTACAFT (alcaftadine ophthalmic solution 0.25%) was available to Americans with ocular allergies without a prescription. Following the recent US Food and Drug Administration approval of a complete prescription to over-the-counter switch, the original patented prescription-strength formulation of LASTACAFT can be found online and in retail stores where OTC eye drops are sold. Thus, the factors mentioned above propel the eye allergy treatment market in the region.
Industry Developments and Future Opportunities:
A few initiatives taken by market players operating in the global eye allergy treatment market are listed below:
- In September 2020, Dr Reddy's Laboratories launched an over-the-counter eye allergy drop, Olopatadine Hydrochloride Ophthalmic Solution, in the US market. The solution is indicated to temporarily relieve itchy eyes due to pollen, grass, animal hair, and dander.
- In February 2020, Alcon received Food and Drug Administration approval for Pataday’s once-daily relief and Pataday’s twice-daily relief for over-the-counter sale in the US. The Pataday brand features the No. 1 doctor-prescribed eye allergy itch relief ingredient and includes the first once-daily allergy itch relief drop to be available without a prescription.
Competitive Landscape and Key Companies:
The eye allergy treatment market forecast can help stakeholders plan their growth strategies. Bausch + Lomb, Alcon, AbbVie, Johnson & Johnson, Akorn Inc., Nicox, Santen Pharmaceutical Co. Ltd, Teva Pharmaceutical Industries Ltd, Novartis AG, and Sun Pharmaceutical Industries Ltd. are among the prominent players in the market. These companies focus on introducing new high-tech products, advancements in existing products, and geographic expansions to meet the growing consumer demand worldwide.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Treatment, Indication, Distribution Channel, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Eye allergy treatment includes products and solutions that are used to treat and manage allergies affecting the eyes. Treatment includes over-the-counter medications and prescription drugs that are used to alleviate symptoms such as redness, itching, tearing, and swelling of the eyes. Some of the commonly used products include antihistamine eye drops, mast cell stabilizers, and combination therapies.
The eye allergy treatment market majorly consists of the players, including Bausch + Lomb, Alcon, AbbVie, Johnson & Johnson, Akorn Inc., Nicox, Santen Pharmaceutical Co. Ltd, Teva Pharmaceutical Industries Ltd, Novartis AG, and Sun Pharmaceutical Industries Ltd.
The factors driving the growth of the eye allergy treatment market include the increasing prevalence of eye allergies worldwide and a significant number of switches from prescription to over-the-counter drugs. However, a lack of awareness of ocular allergies hampers the growth of the eye allergy treatment market.
The global eye allergy treatment market is segmented based on treatment, indication, and distribution channel. The eye allergy treatment market, by treatment, is categorized into medication, allergy shots, and eye drops. The eye drops segment held a significant market share in 2022 and is anticipated to record the highest CAGR in the market during 2022–2030.
The eye allergy treatment market was valued at US$ 3.59 billion in 2022.
The eye allergy treatment market is expected to be valued at US$ 5.69 billion in 2030.
The List of Companies - Eye Allergy Treatment Market
- Bausch + Lomb
- Alcon
- AbbVie
- Johnson & Johnson
- Akorn Inc.
- Nicox
- Santen Pharmaceutical Co. Ltd
- Teva Pharmaceutical Industries Ltd
- Novartis AG
- Sun Pharmaceutical Industries Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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