The U.S. market for bacterial conjunctivitis drugs is extremely fragmented, leading to commensurate competition among players. The entry barriers faced by new players despite having good research and development capabilities, is lack of capital, Transparency Market Research (TMR) states in its new report on the U.S. market for bacterial conjunctivitis drugs. R&D involves huge costs and this limits the production. Mergers and acquisitions and other forms of strategic alliances can be predicted between small biotech research organizations and bigger pharmaceutical firms. This could prove to be successful strategy in the U.S. bacterial conjunctivitis drugs market.
According to Transparency Market Research, the U.S. bacterial conjunctivitis drugs market will be worth US$439.8 mn by 2024. This will be a decrease from the previous years as the generic variants encroach the market of bacterial conjunctivitis drugs. On the basis of drug class, the topical fluoroquinolones segment is leading in terms of demand. However, the demand for topical fluoroquinolones will reduce drastically on account of patent expirations of best selling drugs of this class, including, Moxeza, Vigamox, and Zymaxid. This market segment’s worth is estimated to come down to US$286.4 mn by 2024 on account of encroachment by generic variations of these drugs.
Availability of Affordable Generic Medications to Dampen Growth of Bacterial Conjunctivitis Drugs Market
The report states that the U.S. bacterial conjunctivitis drugs market is likely to experience a patent cliff in the near future. The availability of cost effective generic medicines will hamper the market for bacterial conjunctivitis drugs extensively. There is a dearth of novel compounds available for clinical and preclinical examination. There are very few investigations regarding bacterial conjunctivitis and approval of drugs in the pipeline at present. In addition to this, owing to drug expiry issue, doctors are prescribing a variety of affordable generic medications from the past few years.
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Ophthalmologists and optometrists generally prescribe antibiotics in the form of eye drops and ointments. All these factors are behind the decline of the U.S. bacterial conjunctivitis drugs market. In addition to all these, patients are aware that conjunctivitis is usually acute and will cure on its own in a few days, limiting the demand for bacterial conjunctivitis drugs.
Herbal Treatment May Prove Profitable
On a positive note however, the shift from pharmacological medicines to herbal treatment options will open doors for growth opportunities in the market. Manufacturers are recommended to develop herbal products for the treatment of bacterial conjunctivitis to earn profit. The growing prevalence of ophthalmic bacterial infection will also help the market’s growth. In addition to this, the susceptibility of this infection to spread among all age groups from infants to the elderly will drive the growth prospects for this market in the U.S.