Open this article in Dearbloggers App
Conjunctivitis is an inflammation of the conjunctiva caused by bacteria, virus, or an allergic reaction. Conjunctivitis is a self-limiting condition and generally does not require treatment. However, the prevalence of conjunctivitis is very common. Market Research Future (MRFR) has identified the key trends and patterns governing the global conjunctivitis market in a detailed report. The Conjunctivitis Market Size is pegged to reach USD 1.08 Bn at a CAGR of 3.1% over the forecast period of 2016-2022.
Growing awareness about the treatment options available for conjunctivitis due to initiatives taken by healthcare organizations to spread awareness about the contagious disease is boosting the conjunctivitis market. Moreover, the increased focus of healthcare sector on eye care has reflected positively on the growth of the market.
Poor hygienic conditions in developing and underdeveloped countries in combination with a low level of awareness among has raised the occurrence of conjunctivitis. Additionally, huge unmet medical needs and rise in disposable income in developing countries has induced high demand within the conjunctivitis drugs market.
Currently, no drug is available in the market which can treat viral conjunctivitis. However, hefty investments from pharmaceutical companies and a robust pipeline with numerous drugs in the development stage are likely to provide ample growth opportunities to the conjunctivitis drugs market. Moreover, against the backdrop of towering demand for efficient treatment options for viral conjunctivitis drugs, massive investments are being made on R&D activities which are set to push the market further. The US FDA has been approving a lot of drugs in recent times which is expected to augment the market growth over the forecast period.
Contrarily, the growth of the market might be undermined by diagnosis rate which is considerably low for conjunctivitis given the self-limiting nature of the disease. Loss of various patent blockbuster drugs such as Besivance, Vigamox, Zymaxid, and Moxeza have impacted the market growth adversely. However, this has opened up new avenues for the growth of generic conjunctivitis drugs.
Allergan Plc, Valeant Pharmaceuticals, Pfizer Inc., Merck & Co. Inc., Actavis Plc., Akorn Pharmaceuticals, Bausch & Lomb, and Alcon/ Novartis AG are the distinguished players in the global conjunctivitis market.
The global Conjunctivitis Drug Market has been segmented based on conjunctivitis type, drug class, route of administration, and end user.
By conjunctivitis type, the conjunctivitis market has been segmented into viral, bacterial, allergic and others.
By drug class, the conjunctivitis drug market has been segmented into antibiotics, mast cell stabilizers, steroids, and others. The antibiotics segment has been further segmented into Quinolones, Aminoglycosides, Macrolides, and others.
By route of administration, the conjunctivitis market has been segmented into topical, oral, and intra-vitreal.
By end user, the conjunctivitis market has been segmented into hospitals and self-administered.
By region, the global conjunctivitis market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
The largest share of the global conjunctivitis market is held by the Americas. High awareness regarding the disease and easy accessibility to advanced treatment options spur the market in the Americas.
Europe follows the Americas closely which is driven by high investment in R&D activities for the development of effective drugs. However, the markets in both the Americas and Europe region are matured ones and have less scope for further expansion.
The developing countries in the APAc region provider ample growth opportunities to the conjunctivitis drug market. High prevalence of the disease, raising awareness and high unmet needs in the region are supporting the growth of the market. Moreover, the rise in disposable income and increasing access to treatment facilities are also working in favor of the market growth. The MEA market is driven by similar factors as the APAC market.