Bacterial Conjunctivitis Drug Market – What Factors will drive the Market in Upcoming Years?
Bacterial conjunctivitis is inflammation of the outermost layer of the eye and inner area of the eyelid. Bacterial conjunctivitis symptoms include swelling, watery eyes, and redness. Bacteria responsible for conjunctivitis include staphylococci, haemophilus, Chlamydia trachomatis, and streptococci. Children and geriatric population are highly prone to bacterial conjunctivitis, however, it affects people of all age groups. The increasing cases of bacterial conjunctivitis demand efficient medication, which supports the growth of bacterial conjunctivitis drugs market. Bacterial conjunctivitis spreads because of poor hygiene, immune compromise, ocular diseases such as dry eye, blepharitis, and contaminated cosmetics. It can be prevented by maintaining proper hygiene and also hand wash reduces the chances of bacterial conjunctivitis.
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Increasing incidences of bacterial conjunctivitis and availability of generic drugs to fuel the market growth
The spread of ophthalmic bacterial infection increased the demand for antibacterial drugs for its treatment. According to National Center for Biotechnology Information (NCBI) 2013 report, in the U.S., there were around 6 million people affected by conjunctivitis. Bacterial conjunctivitis takes around a week to get completely cured and fluoroquinolones are the most preferred drug for the treatment of bacterial conjunctivitis. There are certain drugs in the market that are patented and their patents about to expire, this, in turn, is expected to increase the market for generic drugs, which are of less price as well. Moxeza, vigamox, besivance, and zymaxid are some of the most successful patented drugs about to expire. After patent expiry, these drugs lose their exclusivity, which leads to increase in use of generic drugs. The development of multi-drug resistant variants is expected to fuel the growth of bacterial conjunctivitis drug market. The unnecessary use of antibiotics causes the disease causing bacteria to chemically evolve themselves and become resistant to drugs. This, in turn, may lead to the prescription of strong medication, which includes corticosteroids and high dose of antibiotics.
Rising occurrence of bacterial conjunctivitis demands safe and efficient drugs, which leads to the development of new drugs, such as vancomycin ophthalmic ointment, that are in the clinical trial pipeline and few are pending for approval. Some of the major challenges faced by bacterial conjunctivitis drug market are patent expiry and awareness about the disease that it cures itself in a week. However, the shift in preference toward herbal treatment from pharmacological treatment is expected to create new opportunities in the bacterial conjunctivitis drug market. Moreover, herbal formulation based drugs are widely accepted, which in turn leads to the development and investment in herbal products for the treatment of bacterial conjunctivitis. The aforementioned scenario is expected to support the growth of bacterial conjunctivitis drugs market over the forecast period.
Developed regions support the growth of bacterial conjunctivitis drug market
On the basis of geography, bacterial conjunctivitis drug market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the bacterial conjunctivitis drugs market due to the presence of advanced healthcare facilities and reimbursement policies. Europe is the second largest region followed by Asia Pacific. Asia Pacific is expected to witness moderate growth over the forecast period owing to the high awareness about the disease among public and high per capita income.
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Key Players in the Bacterial Conjunctivitis Drug Market
Some of the key players contributing to the bacterial conjunctivitis drug market growth are, Pfizer Inc., Novartis AG, F. Hoffmann-La Roche, Bayer Healthcare, Valeant Pharmaceutical International Inc., Perrigo Company Plc, Akorn Inc., Santen Pharmaceutical Co. Ltd., and Allergan Plc. For increasing market share, the companies adopt various strategies such as mergers and acquisitions. For instance, in 2015, Shire acquired Foresight Biotherapeutics to increase its ophthalmic product pipeline.
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