According to the latest market study released by Technavio on the global conjuctivitis market, the market is expected to grow slowly at a CAGR of just under 2% from 2015 to 2019.

The research report is titled “Global Conjuctivitis Market 2015-2019” and provides an in-depth analysis of both revenue and emerging market trends. The research report also includes up to date analysis and forecast estimates for various market segments and geographical regions.

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The report states that the global conjunctivitis medication market is expecting slow growth due to the increased number of patent expiries of medication. Since the condition is not life-threatening and heals by itself in most cases, the number of people opting for medical attention are few. This affects the market growth negatively.

“Patent expiry results in the loss of market exclusivity for a specific drug, leading to a rapid decline in sales. This leads to the development of cheaper generic medication that is similar in efficacy and safety to the branded medication,” said Technavio lead infectious and rare diseases research analyst Imran Mushtaq. “Alcon will lose its patents on Patanol and Pataday in December 2015 in the US and Allergan's drug Lastacaft's patent will expire in July 2016 in the US. Many more companies will lose their patent exclusivities by the end of the forecast period, making way for the release of generics in the market.”

The conjunctivitis medication market in the US is the largest in the world, accounting for 47% of the global market, therefore any change in the US market will significantly affect overall market growth worldwide. The American market for conjunctivitis is currently growingly slowly because most of the expiring patents are US based.

The global conjunctivitis medication market is segmented into three condition types:

  • Bacterial conjunctivitis
  • Viral conjunctivitis medication
  • Allergic conjunctivitis

Allergic conjunctivitis is the largest segment and leads to constant irritation and inflammation of the conjunctival tissue. Atopic, contact, and vernal conjunctivitis are the main types of allergic conjunctivitis. Atopic allergic conjunctivitis occurs due to pollen exposure or other hypersensitivity reactions. Contact allergic conjunctivitis occurs if an individual is allergic to certain eye medications. Vernal, or seasonal conjunctivitis, is often associated with eczema or asthma. Treatment options generally include the use of antihistamine drops and tablets, topical steroids, and sodium cromoglycate drops.

The global allergic conjunctivitis medication market was valued at USD 1.39 billion in 2014 and is expected to increase only USD 80 million by 2019, growing at a poor CAGR of 1%. Allergic conjuctivitis medication’s Lotemax and Patanol lost their patent exclusivity in 2014 and 2015, leading to increased genericization of medication, decreasing market growth.

Global bacterial conjunctivitis medication will be the fastest growing segment, posting a CAGR of just under 3%. As the condition heals on its own in most cases, individuals with bacterial conjunctivitis do not generally take medication for treatment. However, the increasing number of bacterial conjunctivitis infections will offset this decline, as the intake of medicine for treatment should increase.

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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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