Global Viral Conjunctivitis Drugs Market, by Drug Class (Artificial tears, Decongestants, Anti-histamines, NSAIDS, Anti-Viral drugs, Steroids, and Antibiotics), by Virus Type (Adenovirus, Enterovirus, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 293.7 million in 2021, and is expected to exhibit a CAGR of 4.7% during the forecast period (2021-2028).
Rising viral conjunctivitis cases is expected to drive growth of the global viral conjunctivitis drugs market during the forecast period. For instance, according to the Pan American Health Organization (PAHO): 2017, there was an outbreak of conjunctivitis cases in the Dominican Republic, Bahamas, and Brazil region. The number of conjunctivitis cases reported in the regions were as follows: Dominican Republic (66,626 cases), Bahamas (240 cases), and Brazil (172 cases).
Market players are engaged in inorganic activities such as acquisitions of companies, which is expected to drive growth of the viral conjunctivitis drugs market. For instance, on February 2020, Bausch Health Companies Inc.’s wholly owned subsidiary, Eton Pharmaceuticals, Inc., acquired the U.S. rights to Eton Pharmaceuticals' EM-100, an investigational eye drop that, if approved, would be the first over-the-counter (OTC) preservative-free formulation eye drop to be used for the treatment of ocular itching associated with conjunctivitis.
Global Viral Conjunctivitis Drugs Market - Impact of Coronavirus (COVID – 19) Pandemic
COVID-19 outbreak was first reported on December 31, 2019, in Wuhan, China. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 167 million cases and 3.4 million deaths due to Coronavirus (COVID-19) were reported up till May 25, 2021 across the globe.
The COVID-19 pandemic has affected several markets across the globe and is also expected to hamper the demand and supply in global viral conjunctivitis drugs market. The COVID-19 pandemic has affected the demand and supply of viral conjunctivitis drugs market in three main ways; by directly affecting the production and demand; by creating disruptions in distribution channels; and by causing financial impact on firms and financial markets. Supply chain and manufacturing activities of viral conjunctivitis drugs in India, China, and the U.S. are disrupted due to nationwide lockdowns. Whereas, countries such as Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of drugs from one place to another.
According to the article published in the medical journal JAMA Ophthalmology Journal: June 3, 2020, children may experience eye-related symptoms of COVID-19 more often than adults. According to the same source, researchers in Wuhan, China, had examined 216 children between the ages of 2 and 11 years old where all the children had tested positive for COVID-19. Many symptomatic patients had common coronavirus symptoms such as fevers and coughs, while 22.7% of the children studied showed 'various ocular manifestations.' This shows that coronavirus also affects the eyes of the patients. Moreover, pink eye or conjunctivitis is seen in adult patients with coronavirus infection, but at a much lower rate of 1% to 3%. Therefore, anti-viral drugs are required to manage the ocular infections during COVID-19 pandemic; meanwhile, some of the new anti-viral drugs are currently under clinical trials.
Browse 33 Market Data Tables and 25 Figures spread through 214 Pages and in-depth TOC on Global Viral Conjunctivitis Drugs Market, by Drug Class (Artificial tears, Decongestants, Anti-histamines, NSAIDS, Anti-Viral drugs, Steroids, and Antibiotics), by Virus Type (Adenovirus, Enterovirus, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa),
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Launch of new the products for the viral conjunctivitis treatment is expected to drive the viral conjunctivitis drugs market growth. For instance, in March 2020, Nicox, an international ophthalmology company, announced that its U.S. licensee, Eyevance Pharmaceuticals, a Fort Worth-based company, launched ZERVIATETM in the U.S. Also in December 2017, Bausch + Lomb received approval from the U.S. Food and Drug Administration (FDA) for LUMIFY (brimonidine tartrate ophthalmic solution 0.025%) for the treatment of ocular redness
Key Takeaways of the Viral Conjunctivitis Drugs Market:
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