Bacterial Conjunctivitis Drugs Market to Witness Exponential Growth by 2024
Posted: Jan 17, 2019
The bacterial conjunctivitis drug market in U.S. is extremely fragmented in nature as various players are operating in the market. According to a report by Transparency Market Research, the players in the market is expecting a fierce rise in competition due to entrance of new players. New players are facing entry barrier because of capital but the capabilities of good research and development facilities are encouraging them to invest in the market. Big pharmaceutical firms and small biotech research organizations are taking part in strategic alliances such as mergers and acquisitions. Players are shifting their focus on developing medicines that are herbal as the consumers are adopting herbal treatment regime over pharmacological medicines.
The leading players operating in the bacterial conjunctivitis market in U.S are Santen Pharmaceutical Co. Ltd., Valeant Pharmaceuticals Int. Inc., Perrigo Com. Plc., Pfizer Inc., Merk & Co. Inc., Novartis AG, Actavis Plc., Bayer AG, Hoffmann-La Roche Ltd., and Akorn Inc. According to a report by Transparency Market Research, the U.S bacterial conjuctvitis drugs market is anticipated to attain a valuation of US$ 439.8 mn by the end of forecast period 2024.
The U.S bacterial conjunctivitis drug class is led by topical fluoroquinolones segment however, the demand for this segment is likely to reduce drastically in the coming years owing to patent expiration of the best drugs of this class. The drugs include Zymaxid, Vigamox, and Moxeza. This segment is expected to fall down to US$ 286.4 mn by the end of 2024 due to obtrusion of genetic variation of these drugs.
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The bacterial conjunctivitis drug market in U.S is shifting to herbal treatment from pharmaceutical medicines. This shift in adoption is majorly due to rise in awareness among consumers. This shift is encouraging manufacturers to develop herbal products for bacterial conjunctivitis treatment to earn profit. The market can witness high profit income due to shift of preference. This infection susceptibility spreads among all age groups from infants to elderly leading to rise in demand for the market. This will likely boost the market in the coming years. Rise in awareness among people about the disease and its treatment is also boosting the market. Several states are actively promoting treatment of the disease. Easy availability of the treatment is boosting the market. Rise in disposable income in the U.S is also fueling the market. These factors are likely to bring positive growth in the U.S market for bacterial conjunctivitis.
The U.S bacterial conjunctivitis market is expected to face certain restrains in the market that might hamper its growth in the coming years. The market is expecting to face a patent cliff in the coming years. The availability of certain cost effective generic medicines is likely to hamper the market growth extensively. The scarcity of novel compounds available for preclinical and clinical examination is affecting the growth of market. Dearth of investigations regarding approval of drugs and bacterial conjunctivitis in the pipeline is affecting the market for bacterial conjunctivitis in U.S. The rise in drug expiry is leading to doctors prescribing variety of generic medicines that are affordable thus, hampering the market growth. Optometrists and ophthalmologists are mainly prescribing antibiotics as ointments and eye drops which is affecting the market growth. Rise in awareness has also made patients aware that the bacterial conjunctivitis is generally acute and cures on its own in few years. These factors are likely to hamper the growth and make it sluggish in the coming years.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materia