Eye allergy is commonly known as allergic conjunctivitis or conjunctivitis. The main symptom of the illness is the redness of the eye and a layer of mucus on it. The two types of this allergy are seasonal conjunctivitis and perennial conjunctivitis. It is usually treated using eye drops which are also available over-the-counter. Such allergies are caused by external factors like trees & weeds, indoor allergens, grass, molds & irritants, pet dander, dust mites, smoke, diesel exhaust, etc.
Advancement in the ophthalmology industry and rising demand for therapeutics are the leading factors behind the growth of the global eye allergy therapeutics market. The leading ophthalmic medicine manufacturers are focusing on collaboration, mergers & acquisitions to improve their product portfolio and expand their reach. The market is also propelled by the increasing cases of eye-related issues such as presbyopia, diabetic retinopathy, and macular degeneration. Conventional therapies diminish the symptoms and signs of allergies by treating H1 receptors, which are known to release the antibodies from the mast cells. However, the global eye allergy therapeutics market is witnessing a shortage of medicines due to the rising need for the treatment of increased cases of eye allergies.
These drugs though reduce the symptoms by treating for itching and redness of the eyes, but still, it tends to leave the illness untreated to some extent. Moreover, there are certain side effects related to the medicines which make them unfit to be used for a long time. These are some of the hindering factors limiting the overall market growth. As a result, there is a huge demand for multiple-dose therapy for the treatment of eye infections that would help provide quick relief and no side effects.
The global eye allergy therapeutics market is segmented into products and regions. In terms of product, the market is classified into mast cell stabilizers, antihistamines, immunomodulators, corticosteroids, and others. Among these, the market is estimated to be led by the antihistamines segment with the highest market share in the forthcoming years.
Geography-wise, the global eye allergy therapeutics market is expected to be led by North America within the forecast period, projecting the highest market share. This is attributed to rising investments in research & development activities and advancements in technologies to come up with new and more effective products in the market. In addition, the improved government regulations and norms for drug approval are also likely to boost regional growth.
Some of the leading players operating in the global eye allergy therapeutics market include Novartis AG, Santen Pharmaceutical Co., Ltd., Bausch Health Companies Inc., Akorn Inc., Allergan Plc, etc. To cite, a while ago, one of the leading firms, Dr. Reddy’s Labs launched its new range of eye allergy drops in the US market and gained profit shortly. This aimed to expand its global reach and improve the market presence.