Bacterial Conjunctivitis Market is Expected to Witness a CAGR of 2.1% during the Forecast period to Reach $389.8 Million by 2024
Bangalore, India, July 27, 2018: With its recently published study “Bacterial Conjunctivitis Drugs Market – Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2024”, Infoholic Research forecasts that the global market for bacterial conjunctivitis will decline because of the loss of patents of blockbuster drugs and the introduction of many generic drugs. Although most of the bacterial conjunctivitises are self-limiting, yet topical antibiotics are suggested to cut the duration of the disease and avoid the spreading of infection. A wide range of antibiotics are generally used as a primary treatment option for bacterial conjunctivitis. Topical antibiotics are suggested to deliver the highest dose of the drug straight to the infection site, more than what is usually achieved by oral and other routes. Consequently, the broad spectrum of antibiotic of a single drug is improved.
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The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (RoW). North America accounts for the largest share of the bacterial conjunctivitis market, followed by Europe, Asia Pacific, and Rest of the World. More than 40% of the market is occupied by North America, with the US being the major contributor to the market growth.
Novartis, Valeant Pharmaceuticals International, Teva Pharmaceuticals, and Akron Inc. are the key players in the market. Perrigo Corporation, Bayer AG, Pfizer, Daiichi Sankyo Inc., Merck & Co., and F. Hoffmann-La Roche are few of the other prominent drugs manufacturers in the market.
“Many blockbuster drugs are expected to lose their patents in the market, which in turn, has increased the advent of generic drugs with similar efficacy and less cost. Novartis AG is one of the global leaders in the bacterial conjunctivitis market. Vigamox and Moxeza are the key products of the company, which are likely to lose their patents by 2020. This patent expiry is expected to show a negative impact on the company revenue and its market position. Other strategies used by the market players are acquisitions. For instance, in 2015, Shire Plc acquired Foresight Biotherapeutics for a value of $300 million. This acquisition added experimental eye drop FST-100 into the Shire Plc’s portfolio to treat both viral and bacterial conjunctivitis.” – Rikitha K Murthy, Research Analyst, Infoholic Research.
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Key insights of the report include:
- Major Drug Class
- Regional Analysis
- North America
- Asia Pacific
- Rest of the World
- Industry outlook: Market trends, drivers, restraints, and opportunities