Coherent Market Insights

Viral Conjunctivitis Drugs Market to Surpass US$ 456.7 Mn by 2030

Viral Conjunctivitis Drugs Market to Surpass US$ 456.7 Mn by 2030 - Coherent Market Insights

Publish On: Aug 31, 2023

Global Viral Conjunctivitis Drugs Market, By Drug Class [Antibiotics, Artificial tears, Decongestants, Anti-histamines, NSAIDS, Anti-Viral drugs and Others (Steroids, etc.)], By Virus Type [Adenovirus, Enterovirus and Others (Herpes Simplex Virus (HSV), etc.)], 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$ 322.5 Million in 2023 and is expected to exhibit a CAGR of 5.1% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.

Key market players are focusing on adopting various growth strategies, such as partnerships and others, which will drive the global viral conjunctivitis drugs market. For instance, in June 2022, Alcon, the global leader in eye care, announced a partnership with Cooper Kupp, a professional football wide receiver and MVP (most valuable player) of the “Big Game,” to share his experience with eye allergies and help other eye allergy sufferers find relief with Pataday Once Daily Relief . Under the partnership, the company conducted an awareness campaign, The Right Tool for the Job, that highlights Kupp’s personal struggle to find the right product to treat his eye allergy symptoms and how Pataday has delivered fast-acting, long-lasting, and targeted relief for his itchy allergy eyes on and off the field.

Global Viral Conjunctivitis Drugs Market – Impact of Coronavirus (COVID-19) Pandemic

The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.

The COVID-19 pandemic has affected several markets across the globe and is also expected to hamper demand and supply in the 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 production and demand; by creating disruptions in distribution channels; and by having a financial impact on firms and financial markets. The 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, the UAE, Egypt, and others are facing problems with regards to the transportation of drugs from one place to another.

According to the article published in the medical journal JAMA Ophthalmology Journal on 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, examined 216 children between the ages of 2 and 11 years old and all the children 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 the 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 the COVID-19 pandemic; meanwhile, some of the new anti-viral drugs are currently in clinical trials.

Global Viral Conjunctivitis Drugs Market: Key Developments

In April 2021, Okogen, a clinical-stage specialty ophthalmic biotechnology company, announced the interim analysis results from RUBY, the company’s Phase 2, double-masked, placebo-controlled clinical trial evaluating the safety and efficacy of OKG-0301 in patients with acute adenoviral conjunctivitis. In 58 patients diagnosed with acute adenoviral conjunctivitis, OKG-0301 was safe and demonstrated an effective, dose-dependent anti-viral response. This data was presented by Professor Stephanie Watson (Principal Investigator of the RUBY Trial) in greater detail at the ARVO (Association for Research in Vision and Ophthalmology) virtual annual meeting from May 1-7, in the year 2021.

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.

In April 2020, iView Therapeutics Inc., an ophthalmic pharmaceutical company, announced that the first patient has been dosed in the Phase 2 IVIEW-1201-01-AIC clinical trial program assessing the efficacy of IVIEW-1201 in patients (age 15 years) with acute adenoviral conjunctivitis. The first subject was dosed on 19 Dec 2019 in India at Disha Eye Hospital Pvt. Ltd. Kolkata, India, under this Phase II clinical trial program. This study is planned in the US, India, and China simultaneously.

Browse 36 Market Data Tables and 26 Figures spread through 273 Pages and in-depth TOC on “Global Viral Conjunctivitis Drugs Market”- Forecast to 2030, Global Viral Conjunctivitis Drugs Market, By Drug Class [Antibiotics, Artificial tears, Decongestants, Anti-histamines, NSAIDS, Anti-Viral drugs and Others (Steroids, etc.)], By Virus Type [Adenovirus, Enterovirus and Others (Herpes Simplex Virus (HSV), etc.)], By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/viral-conjunctivitis-drugs-market-1281

Key Takeaways of the Global Viral Conjunctivitis Drugs Market:

  • The global viral conjunctivitis drugs market is expected to exhibit a CAGR of 5.1% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global viral conjunctivitis drugs market.
  • Among virus type, the adenovirus segment is expected to hold a dominant position in the global viral conjunctivitis drugs market during the forecast period, and this is attributed to the rising number of viral conjunctivitis cases caused by adenovirus. For instance, according to report published in the National Center for Biotechnology Information in 2022, 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.
  • Among region, North America is expected to be the dominant region in the global viral conjunctivitis drugs market, owing to the key players focus on research and development activities for the treatment of patients suffering from adenoviral conjunctivitis. For instance, in March 2022, IVIEW Therapeutics Inc. initiated a clinical trial, which is a multi-center, randomized, double-masked study to evaluate the clinical efficacy and safety of IVIEW-1201 (1.0% povidone-Iodine) gel-forming ophthalmic solution compared to placebo in the treatment of adenoviral conjunctivitis. It is currently in Phase 2 of the clinical trial study and recruiting healthy volunteers.
  • Major players operating in the global viral conjunctivitis drugs market are 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.

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