The global Vernal keratoconjunctivitis market size was valued at USD 410 million in 2021 and is projected to reach around USD 700 million in 2030 exhibiting a CAGR of 6.5% in the forecasted period. Growth in the incidence of ophthalmic disorders, increasing government initiatives, development in treatment options, rising focus of pharmaceutical companies on the growth of enhanced and new medicine for the management of vernal keratoconjunctivitis, and growing awareness are the factors that will increase the global vernal keratoconjunctivitis market. However, high cost of treatment, stringent regulatory situations, side-effects of few eye allergic treatments, and indeterminate reimbursement scenario will act as restrictions for the growth of this market.
High prevalence of vernal keratoconjunctivitis is projected to propel growth of the global vernal keratoconjunctivitis market over the forecasted period. For instance, as per the study, ‘Prevalence of vernal keratoconjunctivitis and its related factors between children in Gambella town, southwest Ethiopia, June 2018’, issued in PLoS One, the incidence of vernal keratoconjunctivitis was 11.10%. The mounting population and growing prevalence of VKC creates large patient inhabitants in the market. For instance, in 2017, overall 4,752,356 patients were affected by VKC in the global market. Moreover, China adds the largest share among EU-5, and Japan, with 2,248,706 cases in 2017. The total detected prevalent population of VKC was around 2,943,057 in the world.
Worldwide, as of 7 February 2022, there have been 394,381,395 established cases of COVID-19, totalling 5,735,179 deaths, stated to WHO. As of 7 February 2022, an over-all of 10,095,615,243 vaccine doses have been directed. Lately, as the numerous difficulties related with the COVID-19 pandemic, despite the fact that patients need treatments, vernal keratoconjunctivitis has not been listed. Topical medications are the main line of treatment for kinds of vernal keratoconjunctivitis with topical corticosteroids more in severe cases of vernal keratoconjunctivitis, even in the patients are at risk of COVID-19.
Treatment Insights
The treatment segment is bifurcated into gel, ointment, tablets, and others. The tablets are widely used by patients having vernal keratoconjunctivitis which is boosting the market growth. Due to an increased use of tablets in the treatment, since they are helpful in the faster recovery of the ailment, manufacturers are focusing on the launching of advanced and latest products.
Distribution Channel Insights
The distribution channel includes hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy segment is anticipated to have the largest market share during the forecasted period. Growing visits to hospitals for regular eye check-ups and others boosts the segment’s growth.
Region Insights
North America dominates the vernal keratoconjunctivitis market owed to the presence of major key players, constant technological development, well-developed healthcare sector, growing prevalence of disease and growing awareness towards health in this region.
Global vernal keratoconjunctivitis treatment market in the Asia-Pacific and Europe is expected to grow during the forecasted period owing to the growing research and development activities, increasing asset in the healthcare sector, growing demand for the treatment, and rising patient population.
Key Companies Insights
The market for Vernal keratoconjunctivitis is moderately competitive. With the rising applications of Vernal keratoconjunctivitis, new players are considering to enter the market. The companies are also involved in activities like joint ventures, acquisitions, partnerships, mergers, and collaborations. These activities aid in growing the effect of the players in the Vernal keratoconjunctivitis market, ultimately boosting the market growth.
Some of the key companies working in the global Vernal keratoconjunctivitis market include:
• Akari Therapeutics
• Allakos Inc.
• iCo Therapeutics
• Novartis Pharmaceuticals
• Santen
• Senju Pharmaceutical
• Alcon Vision LLC
• Other players
Some of the Recent Developments:
• In October 2021, Akari Therapeutics, Plc announced data emphasizing the potential of nomacopan in the exterior of the eye in Allergy, European Journal of Allergy and Clinical Immunology.
• In June 2021, Santen Pharmaceutical Co. received the U.S. Food and Drug Administration (FDA) permission for Verkazia for the management of vernal keratoconjunctivitis in children and adults.
Segments
By Drug Type
• Bertilimumab
• Verkazia
• Lodoxamide
• Tacrolimus
• Antolimab
• Nomacopan
• Others
By Treatment Type
• Tablets
• Ointments
• Gels
• Others
By Distribution Channel
• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
• Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
• Latin America
o Brazil
o Argentina
o Colombia
• MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt
Analysis of the impact of COVID-19 and the Russia-Ukraine War:
The readers of this section will be better informed on the effects of the pandemic, the post-pandemic, and the Russia-Ukraine War on the global market for refrigerated freight services. The factors that have changed since the poll was done include demand, consumption, transportation, consumer behavior, and supply chain management. Industry experts have also emphasized the crucial factors that will help players identify opportunities and maintain the sector as a whole in the approaching years.
Reasons to Purchase this Report
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
- Provides insight into the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years to come
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