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Blepharitis is a common eye condition caused due to inflammation of eyelids which leads to irritation, redness, dryness and dandruff like flakes around the eyelashes. It is often caused due to bacterial or fungal infection on the eyelid. Treatment of blepharitis involves cleaning and hygiene of eyelids, application of warm compresses and prescription eyedrops or ointments containing antibiotics, corticosteroids or other active ingredients to reduce inflammation and kill bacteria or fungi. Over-the-counter (OTC) hygiene products containing tea tree oil or other herbal extracts are also effective in managing mild blepharitis. The awareness about maintaining proper eye care and treatment of eye infections and conditions is rising significantly, propelling growth of the blepharitis treatment market.
The global Blepharitis Treatment Market is estimated to be valued at US$ 2.5 Bn in 2024 and is expected to exhibit a CAGR of 10.% 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 fueling growth of the blepharitis treatment market is the shift from prescribed drugs to OTC products. Mild cases of blepharitis can be effectively managed using OTC eyelid cleansers, warm compresses, eyelid scrub pads and ointments containing natural extracts. This has boosted adoption of OTC blepharitis treatment products. Moreover, increasing preference for herbal and plant-based formulations has led manufacturers to develop novel green and natural products for blepharitis treatment. Some companies are also focused on developing quick dissolving or gel based formulations for better compliance. Advancements in ingredients and drug delivery technologies are further expected to expand product offerings in the blepharitis treatment market during the forecast period.
Porter’s Analysis
Threat of new entrants: Low. The blepharitis treatment market requires huge R&D investment and regulatory approvals to commercialize new products.
Bargaining power of buyers: Moderate. The buyers have some bargaining power due to availability of generic drugs but brand recognition and patents provide differentiation to certain products.
Bargaining power of suppliers: Low. The suppliers lack bargaining power due to fragmented nature of industry comprising generic and branded drug manufacturers.
Threat of new substitutes: Low. There exist limited treatment options for blepharitis due to its complex nature and substitutes require huge investment and time for development.
Competitive rivalry: High. The market is dominated by few global players investing aggressively in R&D and many small local players fighting for larger market share.
Key Takeaways
The global blepharitis treatment market is expected to witness high growth.
Regional analysis: Asia Pacific is the fastest growing region on account of improving healthcare infrastructure and rising medical tourism. The markets in developing nations like India and China are expected to register double digit CAGR during the forecast period.
Key players operating in the blepharitis treatment market are Scope Ophthalmic Ltd., NovaBay Pharmaceuticals Inc., Thea Pharmaceuticals Ltd., Perrigo Laboratories, InSite Vision Incorporated, Merck & Co., and Novartis AG. The players are focusing on development of novel drugs and strengthening their distribution networks globally.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
