Conjunctivitis is an inflammation of the conjunctiva caused by virus, bacteria, or as an allergic reaction to certain substances. The global conjunctivitis drugs market is anticipated to expand at a CAGR of approximately 3.1% over the forecast period which ends in 2022, asserts market Research Future (MRFR) in a recently published research report.
Bacterial and viral inflammation are the most common causes of conjunctivitis and is contagious which require treatment. Growing prevalence of viral and bacterial conjunctivitis is the preliminary factor contributing to the growth of the global conjunctivitis market.
Raising awareness regarding the treatment options available for conjunctivitis is a crucial factor aiding the market growth. High awareness has been purveyed by efforts of various international organizations to spread awareness regarding the contagious nature of conjunctivitis and increased focus on eye care.
Other drivers include poor hygiene and lack of awareness regarding the same in developing countries. High unmet medical needs in the developing regions are one of the chief drivers of the market growth. The prevalence of conjunctivitis is surging in the developing regions due to lack of proper hygiene and lack of access to medical treatment options. Raising awareness and greater affordability due to a rise in disposable income further complements the scenario in the developing countries which creates a conducive environment for the growth of the global conjunctivitis market.
The rise in a number of clinical trials for the development of effective conjunctivitis drugs coupled with rising support from the government in multiple countries in the form of grants for R&D activities further augments the growth of the market.
On the contrary, the growth of the market might be impeded by the self-limiting nature of conjunctivitis and the high cost of drugs. The loss of patent of various blockbuster drugs such as Besivance, Vigamox, Zymaxid, and Moxeza have impacted the market growth adversely. Meanwhile the loss of patent of such medications have paved the way for the penetration of generics into the market which is likely to reduce the price and increase the affordability of conjunctivitis drugs, and, in turn, propel the growth of the market.
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Segmentation
The global conjunctivitis drugs market has been segmented based on type, drug class, route of administration, and end users. By type, the market has been segmented into viral, bacterial, allergic and others types of the same. By drug class, the market has been segmented into antibiotics (quinolones, aminoglycosides, macrolides, and others), mast cell stabilizers, steroids, and others. By route of administration, the market has been segmented into topical, oral and intravitreal. By end users, the market has been segmented into hospitals and self-administered.
Regional Analysis
The Americas, Europe, Asia Pacific, and the Middle East & Africa are the key markets for conjunctivitis drugs. The Americas dominate the global conjunctivitis drugs market followed by Europe. The market in the Americas is driven by high awareness regarding the disease and accessibility to advanced treatment options. A high number of ongoing clinical trials boosts the market growth in Europe. However, the market in developed regions such as the Americas and Europe are already matured, and growth in these markets have become stagnant. The developing countries store more potential for growth and will lead the market over the forecast period. The growth in the markets of Asia Pacific and the Middle East & Africa will be ushered by high unmet medical needs, raising awareness and growing prevalence of conjunctivitis in the regions.
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Competitive Landscape
The global conjunctivitis drugs market is highly competitive. There is no drug as yet which can effectively cure viral conjunctivitis which results in the outlay massive amounts on R&D by market players. The global conjunctivitis drugs market is led by few prominent players such as Alcon/ Novartis AG, Actavis Plc., Pfizer Inc., Akorn Pharmaceuticals, Allergan Plc, Valeant Pharmaceuticals, and Merck & Co. Inc.