According to a new market report published by Transparency Market Research “Viral Conjunctivitis Pipeline Drugs Market: Global Industry Analysis, Pipeline Review, Patent Analysis, and Forecast, 2020–2023”, the viral conjunctivitis pipeline drugs market is projected to reach US$ 0.5 Bn at a CAGR of 69.6% from 2020 to 2023.
Browse the full report at http://www.transparencymarketresearch.com/viral-conjunctivitis-pipeline-drugs-market.html
The viral conjunctivitis pipeline drugs market is likely to witness strong growth during the forecast period from 2020 to 2023 due to unavailability of approved drugs and increasing awareness about incorrect usage of antibiotics in developed countries. The market is estimated based on competition in the market, market penetration ability, and epidemiological data for viral conjunctivitis in various geography. Geographically, the viral conjunctivitis pipeline drugs has been segmented into six major countries: the U.S., the U.K., Germany, Australia, Japan, and Brazil based on the ongoing clinical trials of FST-100 and APD-209.
The U.S. is likely to dominate the viral conjunctivitis pipeline drugs market until 2023 due to ongoing promising clinical trials, high number of diagnosed viral conjunctivitis patients, greater awareness about incorrect usage of antibiotics, and availability and increased application of diagnostic tests. Additionally, not a single drug has been approved by the U.S. FDA. Hence, launch of new drugs is expected to boost market growth during the forecast period. About 6 million people are affected by acute conjunctivitis in the U.S. each year. Currently, FST-100 and APD-209 are in early phase clinical trials in the U.S. and are likely to be launched in 2020 and 2021, respectively.
The U.K. and Germany are the major markets for viral conjunctivitis drugs in Europe. Phase IIa clinical trial of APD-209 has been completed in Sweden, Germany, and Poland. Furthermore, FST-100 is likely to be launched in Europe in 2021. High health care expenditure capability of patients and favorable reimbursement policies for eye diseases are expected to drive the viral conjunctivitis pipeline drugs market after launch of drugs in the U.K. and Germany. Additionally, in March 2014, NicOx launched AdenoPlus, a point of care diagnostic test, in Europe. It is expected to increase diagnosis rate in the region.
According to Australian Prescriber, eye infection is less common in Australia and most of the viral cases in the country are due to herpes simplex. Hence, patient pool is less in Australia as compared to other countries. Presently, APD-209 and FST-100 are patented in Australia and are expected to launch in the country by 2022. However, presence of diagnostic tests and high awareness as compared to other countries in Asia Pacific are expected to drive the market until 2023.
Adenovirus infection is highly contagious and accounted about 90% of all viral cases of conjunctivitis in Japan. Adenovirus infection is classified as a category IV infectious disease by Japan`s National Epidemiological Surveillance of Infectious Diseases (NESID), with mandatory reporting analysis and publication of occurrences. According to data published in the Infectious Diseases of Japan: 2016 Edition, over 1 million people were affected due to viral conjunctivitis in 2015. However, stringent regulation for clinical trials and approvals of drugs in Japan are expected to delay the launch of drugs in the market.
Viral outbreaks is a major factor that is likely to boost market growth in Brazil. However, low health care expenditure and less awareness about diagnostic tests are the major restraints of the market. Presently, no laboratory test is routinely performed for viral conjunctivitis at the clinical level in hospitals in Brazil. Hence, low diagnosis rate could restrain the market in the country.
The number of players operating in the viral conjunctivitis pipeline drugs market are limited. Major players operating in the viral conjunctivitis pipeline drugs market are Adenovir Pharma AB, Allergan plc, NanoViricides, Inc., Shire plc, NovaBay Pharmaceuticals, Inc., Novartis AG, Panoptes Pharma GES.M.B.H., and NicOx S.A. Companies are recommended to tie up with diagnostic companies to develop and commercialize quick and accurate tests to diagnose various types of conjunctivitis.
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