Global Fungal Keratitis Treatment Market Size

Fungal Keratitis Treatment Market Analysis

The Global Fungal Keratitis Treatment Market size is estimated at USD 0.86 billion in 2024, and is expected to reach USD 1.07 billion by 2029, growing at a CAGR of 4.60% during the forecast period (2024-2029).

The COVID-19 pandemic is anticipated to impact the growth of the Fungal Keratitis Treatment market significantly. The outbreak of pandemic has led most of the major players involved in research and development activities to halt the clinical trials related to drug development. Additionally, in March 2020, the Centers for Disease Control and Prevention and the American Academy of Ophthalmology recommended that physicians, including ophthalmologists, should limit in-person care to urgent and emergent patients while assuming the use of appropriate personal protective equipment. Also, it is estimated that there was a nearly 80% initial decrease in ophthalmology visits and that as of mid-June there was still a cumulative decrease in ophthalmology visits of 40% in the United States. This is likely to have a negative impact on the market studied.

The growing burden of fungal keratitis and product development is expected to fuel the fungal keratitis treatment market growth. According to the article 'Global Epidemiology of Fungal Keratitis and Its Outcomes' published in January 2021, researchers estimated that the annual global incidence of fungal keratitis to be approximately 1 million cases, with 8% to 11% of patients losing an eye. The risk factors associated with fungal keratitis are trauma, contact lens use, topical corticosteroid use, Diabetes mellitus, and low socioeconomic status. Incidental ocular trauma is undoubtedly the most common risk factor for fungal keratitis. Additionally, several efforts are being made to develop and find new therapeutics for fungal keratitis. For instance, in September 2018, L.V. Prasad Eye Institute, India completed the Phase 2/Phase 3 study on Combination Treatment of 5% Natamycin and 1% Voriconazole in Fungal Keratitis with the randomized double-masked clinical trial. The research institute is likely to initiate the Phase IV trials in 2021. Thus, the positive outcomes of such trials may result in a new treatment that is likely to boost the market growth in the upcoming period.

Also, as of 2021, Aravind Eye Care System, India is investigating a randomized control trial with topical anti-fungal therapy to assess the visual and clinical outcomes of collagen cross-linking in fungal keratitis. The study is aimed at finding the role of corneal cross-linking in non-resolving fungal keratitis in the prevention of perforation and enhancement of the healing process Thus, owing to the aforementioned factors, the studied market is expected to contribute to the market growth, however, loss of patents of product and side effects of the fungal keratitis treatment is likely to hinder the growth of the market over upcoming years.