Fungal Keratitis Treatment Market

Fungal Keratitis Treatment Market Size

Fungal Keratitis Treatment Market was valued at USD 875.4 million in 2023 and is anticipated to experience growth at a CAGR of 6.1% from 2024 to 2032 driven by increasing incidence of eye infections and growing geriatric population.

For instance, according to the World Health Organization, by 2031, 1 in 6 people will be aged 60 years and above all over the globe. With the global population aging rapidly, particularly in developed countries, there is a parallel increase in the prevalence of age-related eye conditions, including fungal keratitis. Thus, this demographic trend significantly drives the demand for fungal keratitis treatment. Furthermore, advances in research and development activities contribute to the discovery of novel antifungal drugs, drug delivery systems, diagnostic tools, and therapeutic approaches for fungal keratitis treatment, thereby propelling the growth of this market.

Fungal keratitis is a serious eye infection caused by various types of fungi. It typically occurs when fungi invade the cornea, the clear dome-shaped surface that covers the front of the eye. Fungal keratitis can result from injury to the eye, prolonged use of contact lenses, or from fungal spores present in the environment. Fungal keratitis treatment refers to the management and therapeutic interventions employed to address fungal keratitis. It involves various approaches aimed at eliminating the fungal infection, reducing inflammation, and promoting healing of the affected cornea.

Fungal Keratitis Treatment Market Trends

• The rising incidence of eye infections such as fungal keratitis, is a key driver of the market. Factors such as poor hygiene practices, ocular trauma, exposure to environmental pathogens, and the spread of drug-resistant fungal strains contribute to the growing burden of eye infections globally.
  
• As the incidence of fungal keratitis continues to rise, there is a corresponding increase in the demand for effective fungal keratitis treatment options, including antifungal medications and surgical interventions.
  
• Additionally, the increasing prevalence of contact lens wear is a significant driver in the market, as it elevates the risk of microbial keratitis, including fungal keratitis.
  
• The growing popularity of contact lenses for vision correction, prolonged wear, improper hygiene practices, and extended overnight use contribute to corneal susceptibility to fungal infection. This trend underscores the need for effective management strategies, thereby supporting the growth of market.
  

Fungal Keratitis Treatment Market Analysis

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Based on treatment type, the market is segmented into medical treatment and surgical treatment. The medical treatment is further classified on the basis of drug class and route of administration. Based on drug class, the medical treatment segment is classified into polyenes, azoles, and other drug classes. Whereas, based on route of administration, the medical treatment segment is classified into topical, oral, and injectable. The medical treatment segment accounted for USD 637.3 million in 2023.

• The medical treatment segment dominates the market due to the effectiveness of antifungal drugs, which directly target fungal pathogens.
  
• Additionally, the high prevalence of mild to moderate fungal keratitis cases respond well to medical treatment alone, further contributing to the market growth.
  
• The safety profile and cost-effectiveness of antifungal medications further bolster the market, solidifying the position of the medical treatment segment as the preferred choice for managing fungal keratitis.
  

Based on indication, the fungal keratitis treatment market is segmented into superficial keratitis and deep keratitis. The superficial keratitis dominated the market with 68.6% of market share in 2023.

• Superficial keratitis, also known as epithelial keratitis, is generally more common than deep keratitis. The higher prevalence of superficial keratitis leads to a larger patient population seeking treatment, thereby driving the dominance of this segment in the fungal keratitis market.
  
• Additionally, superficial keratitis often responds well to medical treatment, including topical antifungal medications, which are effective and accessible. The lower risk of complications associated with superficial keratitis and patient preference for less invasive therapies further contribute to its dominance in the fungal keratitis market.
  

Based on fungal species, the fungal keratitis treatment market is categorized into Aspergillus, Fusarium, Candida, Cephalosporium, and other species. The Fusarium segment dominated the market and predicted to grow at CAGR of 5.9% over the forecast period.

• The dominance of the Fusarium segment in the fungal keratitis market stems from its widespread prevalence, aggressive nature, and characteristic clinical features. Fusarium species are among the most common fungal pathogens causing keratitis globally, necessitating prompt medical intervention and often surgical management due to their severity.
  
• Furthermore, the availability of effective treatment options for Fusarium keratitis and increased research efforts on understanding its pathogenesis and developing targeted treatments further supports the growth of this segment.
  

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Based on age group, the fungal keratitis treatment market is divided into children, adults, and geriatric. The geriatric segment held highest market share in 2023 and is anticipated to reach USD 711.2 million by 2032.

• The geriatric population is more susceptible to eye infections due to age-related changes in the immune system, ocular surface, and underlying medical conditions such as diabetes and immunosuppression. As a result, there is a greater emphasis on preventive care and early detection of eye conditions in the geriatric population.
  
• Thus, with the increasing geriatric population, there is a corresponding increase in the prevalence of age-related eye conditions, including fungal keratitis. Such aforementioned factors collectively aid in driving the growth of this segment.
  

Based on end-user, the fungal keratitis treatment market is classified into hospitals, clinics, ASCs, and other end-users. The hospitals segment accounted for majority of market share in 2023 and is expected witness growth at 6% CAGR in coming years.

• The significant growth of hospital segment can be attributed to its specialized care capabilities, access to advanced treatments like surgical interventions, and emergency care services.
  
• Additionally, hospitals house specialized ophthalmology departments equipped with advanced diagnostic tools and experienced professionals, making them the preferred choice for managing complex cases.
  
• Furthermore, hospitals are widely accessible to the large number of general populations, thereby supplementing the growth of this segment.
  

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North America fugal keratitis treatment market was valued at USD 353.7 million in 2023 and is anticipated to reach USD 585.6 million by 2032 with a CAGR of 5.9%.

• The dominance of this region can be contributed to factors such as advanced healthcare infrastructure, high prevalence of risk factors, stringent regulatory framework, high healthcare spending, and robust research and development initiatives.
  
• The region boasts specialized ophthalmology centers and hospitals equipped with state-of-the-art diagnostic and treatment facilities, enabling prompt diagnosis and effective management of fungal keratitis cases.
  
• Additionally, the region has a relatively high prevalence of risk factors associated with fungal keratitis, such as contact lens wear and ocular trauma, driving demand for treatment options in the region.
  

U.S. fungal keratitis treatment market is anticipated to grow at CAGR of 5.8% during the analysis timeframe.

• According to an article published by National Institutes of Health, in the U.S. warm places in southern part like Florida has a higher incidence of fungal keratitis compared to colder places in northern part.
  
• Thus, factors such as warm climates, improper contact lens usage, and agricultural activities can increase the incidence of fungal keratitis, driving the growth of the market.
  

Fungal Keratitis Treatment Market Share

The fungal keratitis treatment industry is characterized by intense competition among key players striving to improve patient outcomes and address unmet medical needs in the management of this challenging eye condition. Some of the significant players Merck & Co. Inc., Pfizer, Inc., Glenmark Pharmaceuticals, and Alvogen are likely to hold significant market shares due to their extensive product portfolios and global reach.

Fungal Keratitis Treatment Market Companies

Prominent players operating in the fungal keratitis treatment industry include:

• Alvogen
• Aurolab
• Bausch Health Companies Inc.
• Eyevance Pharmaceuticals LLC
• Gilead Biosciences, Inc.
• Glenmark Pharmaceuticals Ltd.
• Leadiant Biosciences, Inc.
• Merck & Co. Inc.
• Novo Holdings A/S (Xellia Pharmaceuticals)
• Pfizer Inc.
  

Fungal Keratitis Treatment Industry News:

• In February 2024, Cipla partnered CSIR-CDRI for developing a novel ophthalmic formulation for fungal keratitis. The partnership offers company access to expertise, research and development support, and market expansion opportunities.
  
• In September 2020, Bausch Health entered into an agreement with Allegro Ophthalmics, LLC to acquire an option to purchase all ophthalmology assets of Allegro. This strategic initiative will help the company to enhance their product portfolio and customer base.
  

The fungal keratitis treatment market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 - 2032 for the following segments:

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Market, By Treatment Type

• Medical treatment
  • Drug class
    • Polyenes
      • Natamycin
      • Amphotericin B
    • Azoles
      • Triazole
        • Voriconazole
        • Fluconazole
        • Itraconazole
        • Posaconazole
      • Imidazoles
        • Econazole
        • Miconazole
        • Ketoconazole
    • Other drug classes
  • Route of administration
    • Topical
    • Oral
    • Injectable
• Surgical treatment

Market, By Indication

• Superficial keratitis
• Deep keratitis

Market, By Fungal Species

• Fusarium
• Aspergillus
• Candida
• Cephalosporium
• Other species

Market, By Age Group

• Children
• Adults
• Geriatric

Market, By End-user

• Hospitals
• Clinics
• ASCs
• Other end-users

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa