According to FutureWise analysis the market for corneal ulcer treatment in 2023 is US$ 0.92 billion, and is expected to reach US$ 1.45 billion by 2031 at a CAGR of 5.92%.
Increased usage of contact lenses, whose improper placement in the eyes shall cause corneal ulcers leading to blindness, increased chemical exposure are some of the key factors contributing to the market growth. Rise in the number of approvals from regulatory authorities like European Medicines Agency and FDA for certain antifungals, corticosteroids and antibiotics for treating eye infections shall boost the corneal ulcer treatment market growth. Characteristics like cost-efficiency has resulted in adopting eye ointments, thereby propelling the proliferation of the market. Furthermore, many key players are researching on novel treatment alternatives for treating corneal ulcers as some patients complain of scars on the cornea along with blurred vision in spite of its early diagnosis and treatment. Moreover, conventional antibiotics shall possibly prove effective for treating acanthamoeba keratitis. In addition, corneal ulcers with dual therapy is providing opportunities for key players to expand their businesses in the market.