Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Viral conjunctivitis is an inflammation of the conjunctiva. Viral conjunctiva is caused due to infections from virus such as adenovirus, herpes simplex virus, varicella zoster virus, picornavirus, poxvirus, and human immunodeficiency virus. It is also called as Pink eye disease. Viral conjunctivitis is characterized by the reddish eye, watery discharge from eye, and itching/irritation. Persistent conjunctivitis from virus may lead to corneal keratitis. Treatment for viral conjunctivitis may be symptomatic or virus specific.
Global Viral Conjunctivitis Drugs Market - Impact of the Coronavirus (COVID-19) Pandemic
Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 as a pandemic on March 11, 2020.
According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 166,346,635 cases and 3,449,117 deaths due to coronavirus disease (COVID-19) were reported till May 21, 2021, across the globe.
Impact of COVID-19 on Demand and Supply of Viral Conjunctivitis Drugs
The COVID-19 pandemic and lockdown in various countries across the globe have impacted the financial status of businesses across all sectors. The private healthcare sector is one such sector which has been majorly impacted by the pandemic.
The COVID-19 pandemic has impacted the entire supply chain of the pharmaceutical industry mainly due to strict lockdown in several regions. However, the demand for conjunctivitis drugs is increasing in this COVID-19 pandemic, owing to rising number of conjunctivitis cases reported, in which conjunctivitis was the only symptom in COVID-19 positive patients.
Moreover, coronavirus pandemic has impacted development, production, and supply of medicines and affected businesses of various companies operating in the healthcare sector across the globe. The pandemic has led to the closure of industrial establishments, except manufacturing of essential commodities, and disruption in supply chain of products.
Thus, COVID-19 pandemic has affected the economy in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets
The supply chain and manufacturing activities in India, China, 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 transportation of drugs and medical devices.
Thus, 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 the production and supply of the drugs during the pandemic.
The global viral conjunctivitis drugs market is estimated to be valued at US$ 293.7 Mn in 2021, and is expected to exhibit a CAGR of 4.7% over the forecast period (2021-2028).
Figure 1: Global Viral Conjunctivitis Drugs Market Share (%) Analysis, By Virus Type, 2021
The increasing number of viral conjunctivitis cases is expected to drive the market growth over the forecast period.
The rising number of viral conjunctivitis cases is expected to drive growth of viral conjunctivitis drugs market over the forecast period. According to National Center for Biotechnology: 2017, adenovirus is the most common cause of viral conjunctivitis and up to 70% of cases of acute conjunctivitis are viral. The number of individuals affected by viral conjunctivitis is estimated to be as high as 15 to 20 million per year in the U.S.
Moreover, increasing number of research and development activities for improving the effectiveness of viral conjunctivitis drugs is expected to aid in the growth of the market over the forecast period. For instance, in 2019, iVIEW Therapeutics Inc., a clinical stage ophthalmology drug development company, announced the dosing of the first patient in the Phase II clinical trial. iVIEW Therapeutics Inc. is testing the safety and efficacy of the IVIEW-1201 in patients (age ≥15 years) for the treatment of acute adenoviral conjunctivitis.
The rising healthcare expenditure may support research and development activities, which in turn may support the research and development of new drugs for viral conjunctivitis due to its increasing prevalence. This is expected to drive the growth of the global vial conjunctivitis drugs market over the forecast period. For instance, according to the Research America 2018 report, the U.S. government invested around 4.97% of the country’s GDP in the medical and health research & development sector in 2016, this increased to 5.03% in 2017. Moreover, according to the National Bureau of Statistics: February 2018, China’s expenditure on research and development increased by 11.6% in 2017 from 10.6% in 2016, accounting for US$ 280 Mn in 2017.
Viral Conjunctivitis Drugs Market Report Coverage
||Market Size in 2021:
||US$ 293.7 Mn
|Historical Data for:
||2017 to 2020
||2021 to 2028
|Forecast Period 2021 to 2028 CAGR:
||2028 Value Projection:
||US$ 405.2 Mn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
- By Drug Class: Artificial tears, Decongestants, Anti-histamines, NSAIDS, Anti-Viral drugs, Steroids, Antibiotics
- By Virus Type: Adenovirus, Enterovirus, Others
- By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
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., and Okogen Inc.
- Increasing Access to Diagnostic Tests for Viral Conjunctivitis
- Increasing Research and Development Activities by the Market Players
- Increasing strategic collaborations among the market players
- Increasing Product Launches and Approvals
- Rising healthcare expenditure
|Restraints & Challenges:
- Increasing Product Recalls
- Unavailability of Proper Anti-viral Treatment
Global Viral Conjunctivitis Drugs Market – Restraints
Growth of the viral conjunctivitis drugs market may be hampered, owing to the increasing product recalls, and unavailability of proper anti-viral treatment. According to the study published in Ophthalmology: 2017, an estimated 83% patients suffering from conjunctivitis visited primary care centers instead of ophthalmologist. The primary care physicians prescribe antibiotics for the treatment of conjunctivitis. Frequently prescribed antibiotics without good indication could present an unnecessary financial burden on the patient and increase the occurrence of drug-resistant disease-causing pathogens as well.
Moreover, according to the article published by American Academy for Ophthalmology: April 22, 2021, the antibiotic drops are not much effective in the treatment of viral conjunctivitis. The rates of antibiotic treatment in the community for patients suffering from infectious conjunctivitis in the U.K. ranges between 80% and 95%. Therefore, the success of clinical trials and the commercialization of the products for the treatment of viral conjunctivitis, will drive growth of the viral conjunctivitis drugs market.
Global Viral Conjunctivitis Drugs Market – Regional Analysis
On the basis of region, the global viral conjunctivitis drugs market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is expected to hold dominant position in the global viral conjunctivitis drugs market over the forecast period, owing to rising number of product launches. For instance, on February 23, 2021, Bausch + Lomb launched Alaway Preservative Free (ketotifen fumarate ophthalmic solution 0.035%) antihistamine eye drops. It is indicated to relieve eye itchiness caused due to 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).
Key players are focused on receiving patent for their products indicated for the treatment of treatment of conjunctivitis, which are expected to drive growth of the market in Asia Pacific. For instance, in 2018, Starpharma Holdings Limited, a company headquartered in Australia, received patent for SPL7013 ophthalmic drops for viral conjunctivitis from the U.S. Patent and Trademark Office. The patent has been granted to the company due to its broad claims for treating and preventing microbial infections of the eye, including adenoviral conjunctivitis, bacterial conjunctivitis, and other eye infections. The patent term is till 2033.
Figure 2: Global Viral Conjunctivitis Drugs Market Value (US$ Mn), by Region, 2021
Global Viral Conjunctivitis Drugs Market – Competitive Landscape
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., and Okogen Inc.