The global viral conjunctivitis pipeline drugs market is expected to
undergo a trajectory of fluctuations with regards to the competitor
landscape. Since there is no drug that could effectively cure viral
conjunctivitis, the market players are engaging in rigorous research
and development to invent a suitable drug. As these companies advance
with their research, the competition in the market is anticipated to
intensify.
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The leading market players are Adenovir Pharma AB, Panoptes Pharma
GES.M.B.H., Allergan Plc., Shire Plc.,Novartis AG, NovaBay
Pharmaceuticals Inc., NicOx S.A., and NanoViricides Inc. These
companies have already begun on a spree of trials to make a
breakthrough in the treatment of viral conjunctivitis. It would be
rational for the new entrants in the market to partner with local
vendors and reap the benefits of a wider reach. The market is
expected to undergo revolutionary changes once a wholesome drug is
invented.
A research conducted by Transparency Market Research (TMR)
prognosticates that the future of the market for viral conjunctivitis
pipeline drugs will brims with opportunities. The market is
anticipated to grow at a boisterous CAGR of 69.60% over the period
from 2020-2023. The stupendously high CAGR is indicative of the
lucrative growth opportunities that rest within the market. The
market value is projected to scale up to US$462.4 mn by the end of
2023. The segmentation based on the variety of drugs brings FST-100
drugs to the fore. These drugs are expected to register a CAGR of
27.40% over the forecast period. Geographically, the market is
projected to reign supreme over other regions with a CAGR of 46.50%
from 2020 to 2023.
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Ophthalmology has transcended as one of the most important domains in
the medical fraternity. Continual research to device better
treatments for ophthalmological infections and diseases has
pronounced the market for viral conjunctivitis pipeline drugs. The
drugs in the pipeline are expected to be embraced by healthcare
units, medical practitioners, and the common masses. This portrays a
bright future for the market and a huge pool of opportunities lie
ahead of the market players. Furthermore, a number of international organizations have focused on spreading awareness about the
contagiousness of conjunctivitis.
This has ensued steps to prevent conjunctivitis and has also informed
people about the drugs in the pipeline. Hence, the populace is
anticipating the entry of these drugs into the market, which creates
demand for the products even before they are available for sale.
Another important factor that propels demand within the market is the
increasing investment in healthcare across the globe. This is
complemented by the rising disposable income, especially in emerging
economies. The population has shown proclivity towards better eye
care, which is also an integral standpoint for market growth.
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Despite the congenial scenario for the growth of the market, the low
rate of diagnosis for conjunctivitis is expected to act as a hurdle
to growth. However, this factor alone cannot deteriorate the
prospects of market growth. Ardent research initiatives to replace
the existing drugs with new and effective ones is projected to keep
bolstering demand. Furthermore, the partnerships established by
several players has increased the chances of devising apt treatments.
Hence, there is tremendous scope for growth and development within
the market. Once a novel drug that could give 100% treatment
guarantee is introduced, the market would flourish at an affluent
pace.
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