Giant Papillary Conjunctivitis Market will grow at highest pace owing to rising eye disease prevalence
Giant papillary conjunctivitis (GPC) is an eye condition characterized by the presence of multiple, characteristic papillae at the palpebral conjunctiva, which causes chronic irritation and redness. The main symptoms include itching, redness, tearing, foreign body sensation, and blurred vision. GPC is commonly associated with prolonged contact lens wear, ocular prosthetic devices such as blepharoplasty plates, presence of foreign bodies or allergies. The increasing prevalence of contact lens users and eye diseases is a key factor driving the growth of the giant papillary conjunctivitis market.
The giant papillary conjunctivitis market is estimated to be valued at USD 1.2 Bn in 2024 and is expected to reach USD 1.99 Bn by 2031, growing at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.
Key Takeaways
Key players operating in the giant papillary conjunctivitis market are Johnson & Johnson, Allergan, Novartis, and Bausch Health.
The growing demand for contact lenses and prosthetic devices is fueling the growth of the Giant Papillary Conjunctivitis Market. According to statistics, over 100 million Americans wear contact lenses. The increasing cases of eye infection and diseases are also driving more adoption of contact lenses for diagnosis and treatment purposes.
Technological advancements in Ocular prosthetic devices such as advanced materials with minimized irritation potential and anti-fouling coatings on contact lenses are helping reduce risks of GPC, thereby supporting market growth.
Market Trends
The trend of increasing preference for daily and monthly disposable contact lenses over conventional reusable lens is gaining traction in the market. Disposable lenses reduce risks of infection and irritation.
Advent of anti-allergic contact lenses and prosthetic devices incorporated with medicines is a key trend. Allergy-reducing solutions help lower instances of GPC caused due to allergies.
Market Opportunities
The rising population in developing nations will generate significant demand for affordable contact lenses and prosthetic devices, offering opportunities for market players.
Growing awareness about eye health and risks of GPC is prompting more people towards early diagnosis and preventive treatments, creating opportunities.
Impact of COVID-19 on Giant Papillary Conjunctivitis Market Growth
The outbreak of COVID-19 pandemic has adversely impacted the growth of giant papillary conjunctivitis market. During the initial phase of lockdowns imposed across various countries, there was complete halt in all elective surgeries. This led to decline in number of diagnostic procedures conducted for giant papillary conjunctivitis. Restrictions on non-essential medical procedures also hampered the growth of this market. However, with relaxation in lockdown restrictions and resumption of healthcare facilities for non-COVID patients, the market is witnessing moderate growth trajectory since mid-2020.
Various initiatives are being taken by key players and government bodies to ensure seamless service delivery and address growing backlog of cases. Market players are focusing on strengthening teleconsultation services and online prescription of medicines. In addition, companies are ensuring uninterrupted supply of drugs and medical supplies required for management of giant papillary conjunctivitis. With rapid vaccination drives worldwide, it is expected that resurgence of COVID cases would remain under control in coming years. This would aid recovery of normal healthcare delivery and diagnostic procedures. The market is anticipated to rebound strongly and regain pre-COVID growth rates by 2023.
Geographical Regions with Highest Value Share in Giant Papillary Conjunctivitis Market
North America dominates the global giant papillary conjunctivitis market in terms of value, accounting for around 35% market share. Presence of highly advanced healthcare infrastructure and large patient pool suffering from allergic conjunctivitis drives the demand. Besides, favorable reimbursement policies for ophthalmic diseases treatment procedures further propels the market in the region. Western Europe is second largest market, owing to rising environmental pollution levels and increased prevalence of chronic allergic conditions. Asia Pacific is emerging as a lucrative market and expected to witness highest growth during forecast period, with China and India as major revenue generators.
Fastest Growing Regional Market for Giant Papillary Conjunctivitis
The Asia Pacific region holds immense growth potential for giant papillary conjunctivitis market. Factors such as rapidly developing healthcare infrastructure, increasing awareness about ocular diseases, growing medical tourism industry and rising disposable incomes are supporting the market growth. In addition, pollution levels are escalating and climate change is influencing the prevalence of allergic conjunctivitis in the region. Countries like China and India with large population bases are key markets. It is estimated that APAC giant papillary conjunctivitis market would exhibit highest CAGR of around 9.5% during forecast period. Rising patient pool undergoing diagnostic procedures and uptake of newer treatment therapies would drive the regional market at a strong pace over coming years.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.
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