The global viral conjunctivitis drugs market is estimated to be valued at US$ 322.5 million in 2023 and is expected to exhibit a CAGR of 5.1% during the forecast period (2023-2030).
Analysts’ Views on Global Viral Conjunctivitis Drugs Market:
The rising number of product launches by the key market players in the global viral conjunctivitis drugs market is expected to propel over the forecast period. For instance, in February 2021, Bausch + Lomb, an eye health products company, announced the launch of Alaway Preservative-Free (ketotifen fumarate ophthalmic solution 0.035%) antihistamine eye drops. It is indicated to relieve eye itchiness caused by conjunctivitis. Moreover, it is the first over-the-counter (OTC) preservative-free antihistamine eye itch relief drop approved by the U.S. Food and Drug Administration (FDA).
Figure 1. Global Viral Conjunctivitis Drugs Market Share (%), By Drug Class, 2023
Global Viral Conjunctivitis Drugs Market– Drivers
Furthermore, in December 2022, according to the report published by the Centers for Medicare & Medicaid Services, reported U.S. health care spending grew 2.7% in 2021, reaching US$ 4.3 trillion, or US$ 12,914 per person, while as a share of the nation's gross domestic product, health spending accounted for 18.3%.
Similarly, in November 2022, the Canadian Institute for Health Information reported that the total health spending in Canada was US$ 331 billion in 2022, or US$ 8,563 per Canadian, while health expenditure represented 12.2% of Canada's gross domestic product (GDP) in 2022, following a high of 13.8% in 2020.
Figure 2. Global Viral Conjunctivitis Drugs Market Share (%), By Region, 2023
Global Viral Conjunctivitis Drugs Market- Regional Analysis
Among regions, North America is estimated to hold a dominant position in the global viral conjunctivitis drugs market over the forecast period. North America is estimated to hold 33.5% of the market share in 2023. The global viral conjunctivitis drugs market is expected to witness significant growth in the coming years, owing to the rising number of product approvals from the U.S. FDA (Food and Drug Administration) by key market players. For instance, in February 2020, Alcon, the global leader in eye care, announced that Pataday Once Daily Relief (olopatadine hydrochloride ophthalmic solution 0.2%) and Pataday Twice Daily Relief (olopatadine hydrochloride ophthalmic solution 0.1%) had been approved by the Food and Drug Administration (FDA) for sale over the counter (OTC) in the U.S. The Pataday brand features an eye allergy itch relief ingredient and includes the first once-daily allergy itch relief drop to be available without a prescription for the approximately 66 million Americans who suffer from eye allergies.
Global Viral Conjunctivitis Drugs Market– Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.
COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, are facing problems with the transportation of things from one place to another.
The supply chain and manufacturing activities in India, China, the U.S., and other countries have been disrupted due to lockdown, while countries such as Thailand, Indonesia, and Singapore are facing problems with regards to the transportation of drugs and medical devices.
Thus, the impact of the coronavirus (COVID-19) pandemic is expected to limit the growth of the global viral conjunctivitis drugs market during the forecast period, owing to the decrease in production and supply of the drugs during the pandemic.
Global Viral Conjunctivitis Drugs Market Segmentation:
The global viral conjunctivitis drugs market report is segmented into by drug class, by virus type, by distribution channel, and by region.
Among all the segmentation, the drug class segment is expected to dominate the market over the forecast period, and this is attributed to the increasing research and development activities.
Viral Conjunctivitis Drugs Market Report Coverage
|Base Year:||2022||Market Size in 2023:||US$ 322.5 Mn|
|Historical Data for:||2018 to 2021||Forecast Period:||2023 to 2030|
|Forecast Period 2023 to 2030 CAGR:||5.1%||2030 Value Projection:||US$ 456.7 Mn|
AbbVie Inc., Takeda Pharmaceutical Company Limited, Bausch Health Companies Inc., Panoptes Pharma Ges.m.b.H, NovaBay Pharmaceuticals, Inc., Nicox, NanoViricides Inc., Novartis International AG, Pfizer Inc., Johnson & Johnson, GlaxoSmithKline Plc., Santen Pharmaceutical Co.Ltd., Alcon and Okogen Inc.
|Restraints & Challenges:||
Global Viral Conjunctivitis Drugs Market- Cross Sectional Analysis:
Key players are focused on launching new products from anti-histamine drugs in the North America region, which, in turn, is expected to propel market growth over the forecast period. For instance, in March 2020, Nicox, an international ophthalmology company, announced that its U.S. licensee, Eyevance Pharmaceuticals, a Fort Worth-based company, had launched ZERVIATETM in the U.S. ZERVIATE (cetirizine ophthalmic solution) 0.24% is a histamine-1 (H1) receptor antagonist indicated for treatment of ocular itching associated with allergic conjunctivitis.
Global Viral Conjunctivitis Drugs Market: Key Developments
On June 28, 2023, Bausch + Lomb announced the launch of a social media campaign designed to increase understanding of dry eye disease (DED), one of the most common ocular surface disorders that impacts more than 38 million Americans, and the role of tear evaporation as a leading driver of the disease. The campaign is designed to educate eye care professionals and consumers about DED and foster physician-patient dialogue on this multifactorial disease.
In March 2022, Allergan, an AbbVie company and a pharmaceutical company, announced that LASTACAFT (alcaftadine ophthalmic solution 0.25%) is available without a prescription for the estimated 40% of Americans who live with ocular allergies. As demonstrated in clinical studies, one drop of LASTACAFT works in as little as three minutes to provide relief from itchy, allergic eyes lasting for 16 hours. Following the recent U.S. Food and Drug Administration approval of a complete prescription-to-over-the-counter (OTC) switch, the original patented prescription-strength formulation of LASTACAFT is available online and in retail stores where OTC eye drops are sold.
In October 2021, Bausch + Lomb, and Clearside Biomedical, Inc., a biopharmaceutical company revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space (SCS),, announced that the U.S. Food and Drug Administration (FDA) has approved XIPERE (triamcinolone acetonide injectable suspension) for suprachoroidal use for the treatment of macular edema associated with uveitis, a form of eye inflammation.
In December 2020, EyeGate Pharmaceuticals, Inc., a clinical-stage company focused on developing products for treating disorders of the eye, announced the acquisition of Panoptes Pharma, a privately held clinical-stage biotech company focused on developing a novel proprietary small molecule for the treatment of severe eye diseases with a high unmet medical need.
Global Viral Conjunctivitis Drugs Market: Key Trend
Rising Number of Awareness Campaign
Increasing initiatives such as awareness campaigns and others by the governments of respective countries for patients suffering from conjunctivitis are expected to boost market growth over the forecast period. For instance, on August 1, 2023, the Health Minister of Hyderabad, India, conducted an awareness campaign on precautions, prevention, and treatment for conjunctivitis and other seasonal diseases. Under the awareness campaign, necessary medicines, including eye drops and ointments, were readily available in all government hospitals in India.
Global Viral Conjunctivitis Drugs Market: Restraint
Side Effects Associated with the Drugs used in the Treatment of Viral Conjunctivitis
Various drugs are used in the treatment of viral conjunctivitis, such as ganciclovir gel and others. Thus, side effects associated with the drugs used in the treatment of viral conjunctivitis are further expected to hamper market growth in the future. For instance, side effects associated with ganciclovir gel include:
In order to prevent these kinds of side effects, patients must consult their physician before taking any kind of medication, which is generally found over the counter without a prescription.
Global Viral Conjunctivitis Drugs Market - Key Players
Major players operating in the global viral conjunctivitis drugs market include AbbVie Inc., Takeda Pharmaceutical Company Limited, Bausch Health Companies Inc., Panoptes Pharma Ges.m.b.H, NovaBay Pharmaceuticals, Inc., Nicox, NanoViricides Inc., Novartis International AG, Pfizer Inc., Johnson & Johnson, GlaxoSmithKline Plc., Santen Pharmaceutical Co.Ltd., Alcon and Okogen Inc.
*Definition: Viral conjunctivitis is an inflammation of the conjunctivitis. Viral conjunctiva is caused by infections from viruses such as adenovirus, herpes simplex virus, varicella zoster virus, Picornavirus, poxvirus, and human immunodeficiency virus. It is also called Pink eye disease. Viral conjunctivitis is characterized by a reddish eye, watery discharge from the eye, and itching or irritation. Persistent conjunctivitis from a virus may lead to corneal keratitis. Treatment for viral conjunctivitis may be symptomatic or virus-specific.
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