The growing demand for targeted drugs for the treatment of viral conjunctivitis has compelled drugmakers to undertake aggressive research strategies to develop efficient therapies alongside developing quick, accurate, as well as affordable viral conjunctivitis detection tests. As there is no drug available for the treatment of viral conjunctivitis in the global market at present, companies need to power up their commercialization activities through agreements and partnerships with major ophthalmic drug manufacturers in order to expand their product portfolios, Transparency Market Research observes in a new study.
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“In the coming years, a candidate with a wide range of activity but less toxicity and irritation properties will dominate the global viral conjunctivitis pipeline drugs market,” says a TMR analyst. Leading drugmakers operating in this market would need to focus on the development of new products as well as up-gradation of existing products at reasonable costs. Startups would also need to develop innovative products with substantial benefits in comparison to existing pipeline drugs.
Unmet Needs Driving Demand for Targeted Drugs
A thumping growth has been witnessed in the incidence of infections across the world. Cases of viral conjunctivitis account for a substantial share of it. Approximately 6 million people get affected by acute conjunctivitis every year. Brazil, Japan, and several countries in Europe have also been reporting a high prevalence of viral conjunctivitis over the past few years.
However, despite such a large pool of patients, there is a huge shortage of efficient drugs for its treatment. These large unmet needs are driving the demand for targeted drugs for viral conjunctivitis, strengthening its therapeutic pipeline. At present, there are no drugs in the late-stage pipeline. The key pipeline drugs, FST-100 and APD-209, are in the second phase of clinical trials. Other drugs are still in the preclinical trials stage.
Availability of Conjunctivitis Detection Tests Backs U.S. Potential as Most Promising Market
TMR estimates the global viral conjunctivitis pipeline drugs market to expand at an exponential CAGR of 69.60% between 2020 and 2023. During this period, the market opportunity is likely to increase up to US$462.4 mn. The U.S. is emerging as the most promising market for viral conjunctivitis therapeutics. The availability of efficient conjunctivitis detection tests such as AdenoPlus, relatively higher cost of medicines than other economies, increasing awareness about the harmful effects of improper consumption of antibiotic, and high expenditure on healthcare are drawing heavy investments from drugmakers, increasing the development of new drugs.
Estimations of analysts indicate that the opportunity in the U.S. market for viral conjunctivitis pipeline drugs will reach US$91.1 mn by 2020 and US$286.4 mn. Besides, the imminent launch of FST-100 in Brazil is projected to strengthen the Brazil market for viral conjunctivitis pipeline drugs in the near future and get it at the second position in the global market by 2020. The U.K. and Germany are likely to follow closely.
This study is based on the findings of a TMR report titled “Viral Conjunctivitis Pipeline Drugs Market - Industry Analysis, Pipeline Review, Patent Analysis, and Forecast 2020 - 2023.”
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.