A pinguecula is a yellowish growth that forms on the conjunctiva, the clear membrane covering the eye's white. It is most common on the side of the eye closest to the nose and is caused by exposure to ultraviolet (UV) rays, wind, dust, and other environmental factors. Pingueculas are not cancerous and are usually not painful, but they can sometimes cause eye irritation and redness. Pingueculas are caused by exposure to UV rays, wind, dust, and other environmental factors. These factors can damage the cells in the conjunctiva, causing them to produce excess collagen and other proteins. This excess material builds up on the surface of the conjunctiva, forming a pinguecula.
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Data Bridge Market Research analyses that the Pingueculum Drugs Market will grow at a CAGR of 7.30% in the forecast period of 2022 to 2029 and is expected to reach USD 5,624.22 million by 2029 from USD 3,249.30 million in 2021. The growth of the market is attributed to the rising prevalence of pingueculum, increasing awareness about the condition, and the launch of new treatment options. The increasing prevalence of pingueculum is one of the major factors driving the growth of the market. The condition is more common in people who live in sunny climates and spend much time outdoors. The rising awareness about the condition also contributes to the market's growth. People are now more aware of the risk factors for pingueculum and are seeking treatment options. The launch of new treatment options is another factor driving the growth of the market. There are currently a number of treatment options available for pingueculum, including artificial tears, steroid eye drops, and non-steroidal anti-inflammatory drugs.
Growing number of ocular disorders is expected to drive the market's growth rate
The prevalence of pinguecula illness rises due to an increase in various factors, including ageing above 40, sunlight, UV radiation, and dust, among others. Furthermore, males are more likely than females to have pingueculum dysfunction. The global prevalence of pinguecula illness is increasing due to a variety of environmental and external variables. Because of irritations on the eye surface, chemical burns and flash burns generate significant and severe ocular pain. As a result, the increased prevalence of pinguecula conditions and ocular pain is likely to fuel the worldwide pingueculum medications market over the forecast period.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014- 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Treatment (Artificial Tears /Topical Lubricants, Steroid Eye Drops, Non-steroidal Anti Inflammatory Drops and Others), Formulation Type (Eye Drops, Eye Ointments and Others), Mode of Purchase (Prescription, Over the Counter (OTC)), Drug Type (Branded and Generics), Population Type (Geriatric and Adults), End User (Hospitals, Specialty Clinics, Home Healthcare and Others), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Alcon Inc. (U.S.), Johnson & Johnson Services, Inc. (U.S.), Novartis AG (Switzerland), Akorn Operating Company LLC (U.S.), Bausch & Lomb Incorporated (U.S.), AbbVie Inc. (U.S.), Prestige Consumer Healthcare Inc. (U.S.), Théa Laboratories (France), Sylentis (Spain), Bayer AG (Germany), Zydus Group (India), Amneal Pharmaceuticals LLC (U.S.), OASIS Medical (U.S.), and Santen Pharmaceutical Co., Ltd. (Japan)
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis:
The global pingueculum drugs market is categorized into seven segments: treatment, formulation type, mode of purchase, drug type, population type, end user, and distribution channel.
- Based on treatment, the global pingueculum drugs market is segmented into artificial tears/topical lubricants, steroid eye drops, non-steroidal anti-inflammatory drops, and others. Artificial tears/topical lubricants segment is expected to dominate the global pingueculum drugs market with a share of 49.65% due to higher sales of lubricants in the market.
- Based on formulation, the global pingueculum drugs market is segmented into eye drops, eye ointments, and others. Eye drops segment is expected to dominate the global pingueculum drugs market with a share of 84.07% due to the expansion in the product portfolio for symptoms of pingueculum may accelerate the growth of pingueculum drugs market in the forecast period.
- Based on mode of purchase, the global pingueculum drugs market is segmented into prescription and over the counter (OTC). Prescription segment is expected to dominate the pingueculum drugs market with a share of 77.47% as the most advanced and fast-healing drugs are prescribed and not available as over the counter medicines.
- Based on drug type, the global pingueculum drugs market is segmented into branded and generics. Generics segment is expected to dominate the pingueculum drugs market with a share of 27.95 % due to the rising population with subsequent eye infections and initiatives taken by market players.
- Based on population type, the global pingueculum drugs market is segmented into geriatric and adults. Geriatric segment is expected to dominate the global pingueculum drugs market with a share of 74.96% due to the rising population with subsequent eye infections and initiatives taken by market players.
- Based on end user, the global pingueculum drugs market is segmented into hospitals, specialty clinics, home healthcare, and others. Hospitals segment is expected to dominate the global pingueculum drugs market with a share of 48.77% due to the rise in healthcare infrastructure.
The hospitals segment will dominate the end user segment of the pingueculum drugs market
The hospitals segment will emerge as the dominating segment end user segment. This is because of the growing number of hospitals in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.
- The global pingueculum drugs market is segmented based on distribution channels into hospital pharmacies, retail pharmacies, and online pharmacies. Retail pharmacies segment is expected to dominate the global pingueculum drugs market with a share of 45.00% as they directly provide the best quality product from manufacturers.
The retail pharmacies segment will dominate the distribution channel segment of the pingueculum drugs market
The retail pharmacies segment will emerge as the dominating segment under distribution channel. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the healthcare industry all around the globe will further bolster the growth of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the major market players: Alcon Inc. (U.S.), Johnson & Johnson Services, Inc. (U.S.), Novartis AG (Switzerland), Akorn Operating Company LLC (U.S.), Bausch & Lomb Incorporated (U.S.), AbbVie Inc. (U.S.), Prestige Consumer Healthcare Inc. (U.S.), Théa Laboratories (France), Sylentis (Spain), Bayer AG (Germany), Zydus Group (India), Amneal Pharmaceuticals LLC (U.S.), OASIS Medical (U.S.), and Santen Pharmaceutical Co., Ltd. (Japan).
Market Development
- In 2021, Allergan, a subsidiary of AbbVie Inc., launched REFRESH DIGITAL, a new eye drop that is specifically formulated to relieve dryness and irritation that may occur from prolonged screen time. REFRESH DIGITAL is a scientific advancement that features proprietary HydroCell technology, which supports all three tear film layers to keep eyes hydrated. The product launch helped Allergan to expand its eye care product portfolio and to earn lucrative revenue growth across several markets.
- In 2022, Bausch and Lomb Incorporated announced the launch of Biotrue Hydration Plus Multi-purpose Solution, a contact lens solution that is formed from bio-inspired ingredients. This product provides more moisture on the lenses and additionally acts as a disinfectant. Biotrue Hydration Plus Multi-purpose Solution is a significant innovation in the contact lens care market, and it is expected to be a major player in the years to come.
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in the pingueculum drugs market during the forecast period 2022-2029
North America is expected to dominate the market during the forecast period. The region is expected to witness high growth due to the increasing prevalence of pinguecula and other eye diseases, rising geriatric population, and increasing awareness about the benefits of eye care products.
Asia-Pacific is estimated to be the fastest-growing region in the pingueculum drugs market in the forecast period 2022-2029
Asia-Pacific is expected to be the fastest-growing market for pingueculum drugs during the forecast period. The region is expected to witness high growth due to the rising geriatric population, increasing awareness about eye care, and increasing disposable income.
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