Fungal Keratitis Treatment Market Size Projections Exhibit a CAGR of 5.1%, Likely to Attain a Value of USD 1.48 Billion by 2033
Fungal keratitis treatment market size from USD 0.90 billion in 2023 to USD 1.48 billion in 10 years. The increasing incidences of fungal keratitis disease drive the market’s growth. North America emerged as the most significant global fungal keratitis treatment market, with a 42.3% market revenue share in 2023.
Newark, April 17, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 0.90 billion fungal keratitis treatment market will reach USD 1.48 billion by 2033. A fungal infection of the cornea, known as fungal keratitis, can result in blindness. Blurred vision and a red, hurting eye are the usual symptoms. It is an infectious process of the cornea brought on by any of the many pathogenic fungi that can penetrate the eye’s surface. It is usually a slow-moving, unforgiving illness that needs to be distinguished from other corneal disorders that present similarly, particularly its bacterial counterpart, which causes most microbial corneal infections. The two most frequent species of Aspergillus that cause fungal keratitis are A. fumigatus and A. flavus. Additionally, the March 2021 MDPI article states that fungal keratitis, caused by filamentous yeasts or fungi infecting the cornea, is a serious hazard to vision.
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Key Insight of the Fungal Keratitis Treatment Market
It makes up the majority of cases of microbial keratitis in tropical and low- to middle-income nations. Filamentous fungi, including aspergilli, dematiaceous fungi, and Fusarium spp, largely cause the disease burden. Trauma—which frequently involves organic, plant-based material—remains the main risk factor in these areas. However, using contact lenses is a common risk factor in developed countries, contributing to Fusarium keratitis outbreaks worldwide. Over one million cases of fungal keratitis are expected to occur globally in 2020, with significant regional variations occurring—less than 1% of cases of microbial keratitis in some European nations and more than 80% in others.
North America to account for the largest market size during the forecast period.
Due to factors such as the growing incidence of fungal keratitis and rising healthcare costs, North America has retained a sizable market share, and it is projected that this trend will continue for the duration of the forecast. For example, fungal keratitis varies geographically, ranging from 2% in New York to 35% in Florida in warm temperatures. Additionally, over 20 years in Toronto, Candida was the most prevalent species, and low presenting visual acuity and history of corneal transplantation were linked to poor clinical outcomes. In addition, keratitis and contact lens use contribute to over 900,000 doctor visits and 58,000 emergency visits in the US, resulting in an estimated $175 million in medical costs.
The topical segment dominated the market with the most significant revenue of USD 0.38 billion.
The topical segment dominated the market with the most significant revenue of USD 0.38 billion. The most common drugs used to treat fungal keratitis are topical antifungals. They can be produced or bought commercially into eye drops from a systemic formulation. Natamycin is the only topical antifungal drug that is approved for use in the management of fungal keratitis.
The hospital segment dominated the market with the most significant revenue of USD 0.36 billion.
The hospital segment dominated the market with the most significant revenue of USD 0.36 billion. Hospitals are necessary for managing fungal keratitis because they provide various medical services, including prescription writing, drug administration, and diagnostics. Hospitals ensure that patients have access to essential medications, such as antifungal medications, in addition to giving them appropriate medical care for fungal keratitis.
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Market Dynamics:
Drivers: The increasing burden of fungal keratitis
The growing prevalence of fungal keratitis is a major factor propelling the market’s expansion. A major eye illness is fungal keratitis, particularly in outdoor workers. Predisposing variables include contact lens use, corticosteroid use, and eye damage. Fungal keratitis is often treated with topical medications, though surgery may be necessary in rare instances. For example, in the United States, fungal keratitis is more common in warmer southern regions—like Florida—than in colder northern parts. Aspergillus, Candida, and Fusarium are the most frequently isolated fungal infection-causing species in the United States.
Restraint: Side effects associated with treatment drugs
The toxicity of treatment drugs like amphotericin B is also caused by interactions with the cholesterol found in human cell membranes. Amphotericin B’s most frequent adverse effects are fevers, anaphylaxis, nephrotoxicity, magnesium and potassium loss, and nephrotoxicity. Thus, it is anticipated that the reasons above will impede market expansion.
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Some of the major players operating in the fungal keratitis treatment market are:
● Bausch Health
● Glenmark Pharmaceuticals
● Merck & Co. Inc.
● Eyevance Pharmaceuticals LLC
● Pfizer Inc.
● Alvogen
● Gilead Biosciences, Inc.
● Leadiant Biosciences
● Aurolab
● Novo Holdings A/S (Xellia Pharmaceuticals)
Key Segments cover in the market:
By Route of Administration:
● Oral
● Topical
● Injection
By Distribution Channel:
● Drug Stores
● Hospitals
● Others
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About the report:
The global fungal keratitis treatment market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter’s five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
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