Conjunctivitis Drugs Market : Global Industry Analysis & Forecasting by 2025
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.
Market Research Future (MRFR) has identified the key trends and patterns governing the global conjunctivitis market in a detailed report. Conjunctivitis Drugs Market is expected to register 3.1% CAGR during the forecast period of 2019 to 2025 and will be valued at USD 1.18 Billion in 2025.
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 RD 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.
Industry Updates
March 2019 – Aldeyra Therapeutics, a biotechnology company focused on the development of immune-mediated ocular and systemic diseases, announced that positive results its Phase III ALLEVIATE trial of reproxalap for the treatment of allergic conjunctivitis. This confirms reproxalap as a potential and clinically meaningful approach for the treatment of conjunctivitis. The new drug is due for FDA and NDA (New Drug Application) approval.
March 2019 – Alembic Pharmaceuticals, a pharmaceutical company headquartered in India, announced that it had received FDA approval for its new product, zelastine Hydrochloride Ophthalmic Solution, aimed at the treatment of allergic conjunctivitis.
Competitive Landscape
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.