Conjunctivitis Drugs Market Growth Opportunities, Applications, Driver

Posted by vinit sawant on March 17th, 2021

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.

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 market is pegged to reach USD 1.08 Bn at a CAGR of 3.1% over the forecast period of 2016-2022.

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 R&D 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. However, this has opened up new avenues for the growth of generic conjunctivitis drugs.