The U.S. market for bacterial conjunctivitis drugs has been declining sharply over the last few years. Analysts project the trend to continue in the coming years.
In 2013, the market’s opportunity was valued at US$473.3 mn, which is likely to reduce to US$439.8 mn by 2024.
Declining Demand for Branded Bacterial Conjunctivitis Drugs to Impact Market Opportunity Significantly
The demand for branded bacterial conjunctivitis drugs in the U.S.has been witnessing a sharp decline over the last few years, owing to the easy availability of their generic versions at much lower rates.
The trend doesn’t seem to alter anytime soon. According to TMR, the opportunity in this market is likely to plummet from a value of US$473.3 mn in 2013 to US$439.8 mn by the end of 2024.
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Currently, topical fluoroquinolones are the highest demanded drugs for the treatment of bacterial conjunctivitis in this country. However, the segment is likely to face major obstructions in the near future on the grounds of imminent patent expirations of bestsellers, such as Vigamox and Moxeza in September 2019 and Zymaxid in December 2016.
The market encroachment by the generic variants of these antibiotics will also hurt the opportunity present in this market severely in the coming years, reducing it from US$361.9 mn in 2013 to an estimated value of US$286.4 mn by the end of the forecast period.
Imminent Patent Expiries to Force Top Brands Lose Marketing Exclusivity
As the patents of top branded formulations are set to expire shortly, the U.S. bacterial conjunctivitis drugs market is likely to experience a patent cliff in the near future.
Top bacterial conjunctivitis drug brands in the country such as AzaSite, Vigamox, Zymaxid, and Moxeza are slated to lose their marketing exclusivity over the forecast period. However, the shifting preference from pharmacological medicines to herbal treatment regimen is expected to open new avenues for ophthalmic drug manufacturers.
Nowadays, herbal formulation-based drugs are gaining wide acceptance. Therefore, developing or investing in herbal products for the treatment of bacterial conjunctivitis can prove to be a profitable business for players.
Apart from this, the growing prevalence of ophthalmic bacterial infection and the broadening extent of susceptibility to infection among various age groups ranging from infants to elderly people are also providing an opportunity-rich market for participants.
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As the U.S. market for bacterial conjunctivitis drugs becomes increasingly crowded, companies’ profitability faces a major setback, finds a new study by Transparency Market Research (TMR). The growing fragmentation in this market is leading to intense competition among players, leaving them with meager individual shares.
New entrants, in spite of having strong research and development capabilities, lack proper financing and capital help, whereas the huge cost burden involved in research and development limits production activities of established participants. In 2013, the top three manufacturers of bacterial conjunctivitis drugs in the U.S.
jointly held a share of nearly 57% in the overall market.
“In the present scenario, mergers, acquisitions, and strategic alliances between small biotech research organizations and big pharmaceutical firms in the U.S. can prove to be immensely rewarding for the bacterial conjunctivitis drugs market in this country,” an analyst at TMR says.
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