iCrowdNewswire Jan 21, 2021 4:24 PM ET
Conjunctivitis is an inflammation of the conjunctiva caused by bacteria, virus, or an allergic reaction. Conjunctivitis is a self-limiting condition and generally does not require treatment. However, the prevalence of conjunctivitis is very common.
Market Research Future (MRFR) has identified the key trends and patterns governing the global conjunctivitis market in a detailed report. The conjunctivitis drugs market is pegged to reach USD 1.08 Bn at a CAGR of 3.1% over the forecast period of 2016-2022.
Poor hygienic conditions in developing and underdeveloped countries in combination with a low level of awareness 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.
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. However, this has opened up new avenues for the growth of generic conjunctivitis drugs.
By region, the global conjunctivitis market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
The largest share of the global conjunctivitis market is held by the Americas. High awareness regarding the disease and easy accessibility to advanced treatment options spur the market in the Americas.
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Europe follows the Americas closely which is driven by high investment in R&D activities for the development of effective drugs. However, the markets in both the Americas and Europe region are matured ones and have less scope for further expansion.
The developing countries in the APAc region provider ample growth opportunities to the conjunctivitis drug market. High prevalence of the disease, raising awareness and high unmet needs in the region are supporting the growth of the market.
The global conjunctivitis drug market has been segmented based on conjunctivitis type, drug class, route of administration, and end-user.
By conjunctivitis type, the conjunctivitis market has been segmented into viral, bacterial, allergic, and others.
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By drug class, the conjunctivitis drug market has been segmented into antibiotics, mast cell stabilizers, steroids, and others. The antibiotics segment has been further segmented into Quinolones, Aminoglycosides, Macrolides, and others.
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.
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