Viral Conjunctivitis Pipeline Drugs Market Pegged for Robust Expansion by 2023
Posted by Aman Jaiswar on August 12th, 2019
Viral conjunctivitis therapeutics is undergoing a transitional phase. Currently, there is no drug available for the treatment of viral conjunctivitis. However, the presence of a robust pipeline indicates towards a thriving future. The global Viral Conjunctivitis Pipeline Drugs Market is likely to exhibit a thumping CAGR of 69.60% between 2020 and 2023 and reach an opportunity worth US2.4 mn by the end of the forecast period.
The increasing investments from ophthalmic drug manufacturers for the development of efficient treatment for viral conjunctivitis, coupled with the increasing awareness among people and augmenting expenditure on healthcare, are accelerating the growth rate of this market significantly.
On the other hand, lower diagnosis rate of viral conjunctivitis is decreasing the patient pool for the treatment, causing major hindrance in the market’s growth.
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The U.K., the U.S., Germany, Australia, Japan, and Brazil are the key regional markets for viral conjunctivitis pipeline drugs. Considering the ongoing clinical trials, the U.S. is likely to occupy the leading position among these in the coming years. The major factors driving the growth in this market are promising results of the ongoing clinical trials, the increasing awareness regarding eye care among patients and medical professionals, the high cost of the drugs, and the availability of viral conjunctivitis diagnostic tests.
The U.S. market for viral conjunctivitis pipeline drugs is projected to report a CAGR of 46.50% during the period from 2020 to 2023. APD-209 and FST-100 are the main viral conjunctivitis drugs in the pipeline. Among the two, FST-100 is projected to hold the largest share in the market by 2020. Foresight Biotherapeutics Inc. initiated the development of FST-100; however, the company was acquired by Shire Plc. in the midway. In May 2014, the drug completed its phase II clinical trial successfully and is expected to enter the phase III of clinical trials in 2016.
Presently, the APD-209 is witnessing moderate rise; however, in the coming years, it will report a higher demand than FST-100. The drug, being developed by Adenovir Pharma AB, is in its second phase of clinical trial. It is likely to enter the third phase by mid-2016. The market for FST-100 is projected to rise at a CAGR of 27.40% between 2020 and 2023 while the APD-209 market is likely to report a CAGR of 55.0% during the same period.
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About the AuthorAman Jaiswar
Joined: May 14th, 2019
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