Eye flu or conjunctivitis is an inflammation or infection of the transparent membrane (conjunctiva) that covers the part of the eyeball and the inner surface of eyelids. It is caused by bacteria, viruses or allergens. Common symptoms include redness, itching, watery discharge from one or both eyes. There are several treatment options available depending on the cause which include artificial tears, eye drops containing antibiotics or antihistamines and rarely steroids.
The Eye Flu (Conjunctivitis) Market is estimated to be valued at US$ 4.54 Bn 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:
One of the key trends in the eye flu treatment market is increasing demand for effective treatment options. Conventional drugs like antibiotics have varying success rates and sometimes cause side effects. There is a rise in demand for alternative therapies especially herbal medicines to treat conjunctivitis effectively without side effects. For instance, Allergan launched Xiidra, a novel therapy in 2017 which is a prescription eye drop used for treatment of both chronic dry eye disease and acute exacerbations. It works by inhibiting inflammatory cytokines associated with dry eye disease. Such novel treatment options offer relief without antibiotic resistance and complement conventional drugs well. Development of therapies targeting root causes is expected to drive significant growth in the eye flu treatment market during the forecast period.
Porter’s Analysis
Threat of new entrants: Entry into the eye flu treatment market requires significant investments in research and development to develop novel treatment drugs and formulations. The market also enjoys intellectual property protections that prevent easy replication of existing products. This reduces the threat of new entrants.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are several established drugs and brands for treating eye flu. Buyers can choose among various branded and generic forms of drugs. However, switching costs are negligible.
Bargaining power of suppliers: Major pharmaceutical companies engaged in development and production of eye flu drugs possess strong bargaining power as suppliers due to their established intellectual property and manufacturing infrastructure. This enables them to negotiate prices with buyers.
Threat of new substitutes: There is a low threat of substitute products and therapies in the eye flu treatment market currently as there are limited effective alternatives for symptomatic relief and treatment of the infection.
Competitive rivalry: The eye flu treatment market witnesses high competition amongst major pharmaceutical companies due to widespread prevalence of the disease and availability of generic drugs.
SWOT Analysis
Strength: Established intellectual property and brand equity for major eye flu treatment drugs. Wide product portfolios and strong distribution channels of major players.
Weakness: High research and development costs incurred in developing novel drugs and formulations. Risk of drug patents expiring and facing generic competition.
Opportunity: Growing cases of bacterial and viral eye infections globally due to changing demographics and lifestyle factors. Scope for pediatric eye drop formulations, combination drugs.
Threats: Price erosion due to entry of low-cost generic drugs. Stringent regulations for approval of new ophthalmic drugs.
Key Takeaways
The global eye flu (conjunctivitis) market is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing prevalence of viral and bacterial conjunctivitis globally. The market size for 2023 is estimated to reach US$ 4.54 Bn.
Regional analysis North America dominated the global eye flu market in 2023 and is expected to maintain its lead over the forecast period. This is attributed to factors such as growing elderly population susceptible to eye infections, established healthcare infrastructure and aggressive marketing strategies of key players. Asia Pacific is anticipated to exhibit fastest growth through 2030 led by India and China on account of large population base and susceptibility to eye infections.
Key players operating in the eye flu (conjunctivitis) market are Novartis AG, Allergan, Bausch Health, Santen Pharmaceutical, Johnson & Johnson, Alembic Pharmaceuticals, Akorn Pharmaceuticals, Alcon, Pfizer, Valeant Pharmaceuticals, Merck & Co., Similasan Corporation, Sun Pharmaceutical Industries, Prestige Consumer Healthcare, Lupin Pharmaceuticals, Alembic Pharmaceuticals, Aurolab
Rose water hasanti-inflammatory parcels, so it can help ease symptoms of seditious eye diseases like conjunctivitis.
Also known as pink eye, conjunctivitis is inflammation or infection of the conjunctiva.
